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WorksheetsPractice Test 3 - Part 1
Total questions: 55
Worksheet time: 28mins
A work team that has the authority to decide how its members will complete their daily tasks is a:
Problem-solving team
Cross-functional team
Self-managed team
Virtual team
Zoe is the leader of a problem-solving team. She is encouraging every member of the team to openly express differences and work through conflicts. Zoe's team is likely in the ______ stage.
storming
forming
norming
performing
Giving employees authority and responsibility to make decisions about their work without traditional managerial approval and control means ______________.
authority
decision-making
empowerment
information sharing
______ teams quickly achieve high levels of performance and consistently demonstrate high performance.
Formal
Cohesive
Informal
Virtual
Research shows that teams achieve their best results with ____________ members:
6 – 7
2 – 3
12 – 15
10 – 12
Which of the following statements is correct regarding team conflict?
it helps team in achieving its goals
It is bad for team performance
It will be reduced if the team is diverse.
It rarely occurs in most teams.
Hamza's team has disagreement on the strategy for launching a new product. His team members are trying their best to overcome their differences to agree on a winning strategy. This type of conflict is called ________ conflict.
internal
affective
cognitive
external
In a communication process, the person who writes an email message is called _________.
receiver
context
grapevine
sender
Lisa works for an advertising agency and has presented her client with ideas for new commercials. After the presentation Lisa asks for ______ to determine if the clients correctly understood her message.
a channel
a decoded message
less noise
feedback
Countries and cultures where explicit verbal and written messages are sent are called _________ culture.
Rich culture
Low-context culture
High-context culture
Medium-context culture
A communication process is effective when
a sophisticated communication channel is used.
the communication channel is fast.
the receiver understands the idea as has been intended by the sender.
the language used is simple.
Use of facial expressions and gestures are examples of __________ communication
formal
verbal
nonverbal
informal
______ listening is the basis for effective communication.
Polite
Nonverbal
Active
Cynical
Office memos are a form of _________ communication.
informal
verbal
nonverbal
written
Giving feedback to top management about a recent company policy in a survey is called.
Lateral communication
matrix communication
downward communication
upward communication
______ communication with customers should create goodwill and contribute to customer satisfaction.
External
Formal
Every
Written
______ is the use of people and machinery to convert materials into finished goods or services.
manufacturing
production
distribution
marketing
Which of the following are combined to result in mass production?
mechanization, specialized labour, and standardization
mechanization, specialized labour, and robots
standardization, job-order production, and specialized labour
analytic systems, synthetic systems, and continuous processes
d) mechanization, specialized labour, and standardization
Which of the following is a disadvantage of assembly lines?
It is inefficient for producing small batches.
It moves the product along a conveyor belt past a number of workstations.
Workers perform specialized tasks.
It takes fewer hours to produce products.
Grocery stores use scanners not only for faster check-out times, but as a tool to obtain merchandise sales data and create short-term forecasts. This system is known as ______ production.
product-focused
quality control
customer-driven
data marketing
System for manufacturing products in large quantities by using effective combinations of employees with specialized skills, mechanization and standardization is called ____________ system
Lean Production
Cell Production
Hybrid Production
Mass-Production
Engineers at Ford Motor Company use computers to build new car models in the virtual world before they are ever built in automobile plants. These engineers are using ______.
computer-aided manufacturing
computer-aided design
computer-integrated manufacturing
flexible manufacturing systems
The process that enables manufacturers to use computers to analyze the steps a machine must take to produce a product or part is ______.
computer integrated manufacturing
computer-aided design
computer-aided manufacturing
The process that enables manufacturers to use computers to analyze the steps a machine must take to produce a product or part is ______.
Yusted's company uses a computer to control its production process. The computer transmits signals to machines for performing the appropriate steps in the correct order. This is an example of ______.
computer-integrated manufacturing
computer-aided manufacturing
flexible manufacturing
computer-aided design
Which type of company would be most interested in locating in an area close to its market?
automobile manufacturers
shipbuilding companies
shipbuilding companies
pharmaceutical companies
The main reason for locating the manufacturing to offshore locations is _______________.
Labor cost
inexpensive energy
Availability of technology
Market opportunities
Juan is a production manager. Which of the following tasks would Juan complete first?
selecting the appropriate layout
determining what products to produce
planning the production process
implementing the production process
Which of the following layouts would be appropriate for manufacturers of bulky, heavy, or fragile products?
process layout
fixed-position layout
customer-oriented layout
product layout
Which of the following would least likely be purchased on a long-term contractual basis?
component parts for mass production
office supplies purchased for a small office
continuous supply products
raw materials
The critical path in a PERT chart represents the ______.
areas of operations that require the least amount of technical support
areas of operations that have abundant and extra time
sequence of operations that requires the longest time for completion
sequence of operations that involves outside suppliers
______ chart tracks projected and actual work progress over time.
Lead time
PERT
Gantt
MRP II
ISO 14000 certifies for
product quality.
government contract.
improvements in environmental performance.
quality improvement programs.
Part of Vicky’s job as a production supervisor is to instruct each department on what work to do and the time in which they have to complete their work assignments. This part of her job is known as ______.
routing
dispatching
scheduling
planning
Peter is a factory manager for Dell Computers and is conducting a visual inspection of component hardware and comparing against established quality standards. Peter is measuring ______.
quality control
benchmarking
critical path
production planning
Elijah is a warehouse production manager and has been assigned a complex project that might result in lengthy delays. In order to coordinate all aspects of the production process, Elijah has created a(n) ______ chart.
Gantt
Pie
PERT
ISO
One of the most important variables that determines how much a person saves is _____.
the person’s age
the person’s gender
the person’s race
what country he or she is from
The difference between what you own and what you owe is called_____.
gross worth
net worth
net value
debt factor
____ are short-term debt securities issued by governments, financial institutions, and corporations.
Checks
Bonds
Stock
Money market instrument
Bonds
Government bonds are sold by _______________
Canadian govt
Commercial banks
Credit unions
Stock exchange
The owner of this type of stock receives dividend payment before others.
Common stock
Standard Stock
Preferred Stock
Convertible securities
When a company needs capital to purchase inventory, expand a plant, make major investments, acquire another firm, or pursue other business goals, it may sell a bond or stock issue to the investing public. This is done which market?
Primary market
Secondary market
Government market
Super market
Previously issued securities are traded in _____________.
primary market
secondary market
commodity market
farmer's market
Which is the most international stock market in the world?
London Stock Exchange
New York Stock Exchange
Paris Stock Exchange
Tokyo Stock Exchange
According to a recent survey _________________ were the highest users of Internet banking.
Americans
Germans
The Swiss
Canadians
____________ is the interest rate at which the Bank of Canada gives short term loans to member banks.
federal funds rate
margin rate
discount rate
reserve requirement
Regulation of the federally chartered commercial banks is the responsibility of ___________________
Federal Reserve Bank
The Bank of Canada
TSX
Federal Comptroller
The financial manager for a typical corporation is responsible for ________.
designing the accounting system
determining the most appropriate sources and uses of funds
gathering, recording, and reporting financial information
preparing operating budgets for various departments
______________ has the direct responsibility for shareholder relations.?
Chief Financial Officer
Chief Executive Officer
Treasurer
Controller
Financial risk is the
possibility that an investment will lose money.
possibility that an investment will earn a negative return.
the uncertainty regarding the gain or loss from an investment
the possibility that an investment's actual return will be less than its expected return
A document that specifies the funds a firm will need for a period of time, the timing of inflows and outflows, and the most appropriate sources and uses of funds is called a ______________.
budget
financial plan
strategic plan
asset management plan
A(n) ___________ that is short-term in nature can also be called an operating plan.
budget
asset intensity
stock offering
financial plan
_____ are investment companies that raise funds from wealthy individuals and institutional investors and use the funds to make investments in both public and private companies.
Venture capitalists
Private placements
Hedge funds
Private equity funds
A transaction in which one company buys another company is called _____________
merger
alliance
take-over
acquisition
Leverage ________ the return to shareholders and ________ the risk of their investment.
lowers; increases
lowers; lowers
increases, increases
increases, lowers
Bombardier needs to raise funds to buy new production equipment. The financial manager would probably suggest that his company raise debt capital by ________.
borrowing money from a financial institution
selling stocks
selling marketable securities
using accumulated earnings
