Worksheet on Business Concepts

A museum that charges just enough admission to cover its operating expenses is called a 1 -

• private

• for-profit

• not-for-profit business

Storing and retrieving employee payroll data demonstrates _________.

• information management

• network security

• data encryption

• hardware maintenance

The primary business of a company's marketing department is to meet customer's needs by offering appropriate products.

• True

• False

Which activity demonstrates information management?

• hiring appropriate employees

• researching customers’ needs

• conducting employee evaluations

• storing and retrieving employee payroll data

When Caring Companions and Smiling Pets merged two years ago, what was the most likely effect on the primary business activities of both companies?

• All of the primary business activities were unaffected.

• Each primary business activity became two smaller business activities.

• All of the primary business activities combined into two distinct activities.

• Each primary business activity combined with the matching activity of the other firm.

Which behavior best describes the primary business activity of operations?

• hiring qualified employees

• planning for future success

• producing goods and services

• keeping accurate financial records

Ian works in the marketing department. What is the primary business objective of his department?

• to help its corporation merge with another company

• to hire qualified employees to perform complex job duties

• to meet customers’ needs by offering appropriate products

• to prepare for long-term success by planning and organizing

A group of individuals wants to open a museum that will display items from early settlers of the area. The group will charge just enough admission to pay the museum’s operating expenses. Will the museum be a business?

• Yes, the museum will be a for-profit business.

• No, the museum will be a charitable institution.

• Yes, the museum will be a not-for-profit business.

• No, the museum will not be considered a business.