Lesson 1-1 Test Review

Complete the outline with the correct term. The Six Functions of Business: i. Human Resources; ii. Strategy; iii. Information Management; iv. __________; v. Marketing; vi. Finance/Accounting

• Operations
• Customer Service
• Mission
• Vision

What is the definition of business?

• A route or plan of action designed to achieve certain organizational goals and objectives.
• A for-profit or non-profit organization involved in commercial, industrial, or professional commerce.
• Improving existing products and developing new products in order to meet customer demands.
• Collecting, organizing, storing, and securing relevant data and information.

Complete the statement with the best term. Business is about __________ managing business functions.

• information
• technology
• people
• markets

Business means a for-profit or non-profit organization involved in commercial, industrial, or professional commerce. What is the meaning of industrial?

• The pursuit of a profit margin.
• Customized services provided for a fee
• Collecting, organizing, and storing data.
• Items that are manufactured.

Business means a for-profit or non-profit organization involved in commercial, industrial, or professional commerce. What is the meaning of commercial?

• The pursuit of a profit margin.
• Services provided for a fee.
• The improvement of services.
• Items that are manufactured.

Business means a for-profit or non-profit organization involved in commercial, industrial, or professional commerce. What is the meaning of professional?

• The pursuit of a profit margin.
• Customized services provided for a fee.
• Recording financial transactions and records
• Items that are manufactured.

Which business function is responsible for recruiting, hiring, onboarding, training, evaluating, and terminating employees?
Select an answer from the options below.

• Finance/Accounting
• Strategy
• Human Resources
• Marketing

A company’s purpose, reason for being, and problem it is solving is its:
Select an answer from the options below.

• strategy
• target market
• profit margin
• mission

Which business function is a route or plan of action designed to achieve certain goals and objectives?
Select an answer from the options below.

• Strategy
• Finance/Accounting
• Human Resources
• Marketing

Which business function is about collecting, organizing, storing, and securing relevant data and information in order to make informed decisions?
Select an answer from the options below.

• Human Resources
• Information Management
• Operations
• Strategy