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WorksheetsBUSSHART - PRINCIPLES OF BUSINESS 4.00A 24 QUESTIONS
Total questions: 24
Worksheet time: 12mins
The primary reason that governments develop workplace health and safety regulations is to:
Protect employees from injury and illness.
Ensure that employees have access to insurance.
Raise taxes
An unexpected happening that may result in injury, loss, or damage is
An event
An accident
A social gathering
One way that business can reduce the risk of accidents in the workplace is by providing its employees with:
Weight-loss programs
Safety training
Bonus pay
A federal government agency that writes and enforces safety and health standards for businesses.
OSHA
FBLA
HOSA
Anything of value owned by a business is an asset.
True
False
One way a business can reduce the risk of accidents in the workplace is by providing its employees with:
safety training.
electronic data interchange (EDI).
supply manuals.
weight-loss programs.
The primary reason that governments develop workplace health and safety regulations is to:
protect employees from injury and illness.
reduce the risk of employment discrimination.
ensure that employees have access to insurance.
prevent the breach of business information systems.
Is the buying of goods and services for a business.
Selling
Investing
Purchasing
Offer many different services, including savings, loans, and checking accounts.
Convenient stores
Car dealerships
Commercial banks
Maintaining an inventory of supplies helps a business to:
Operate efficiently.
Locate competitors.
Come to work late.
Who usually decides what to buy, when to buy, where to buy, and how much to buy for a business?
receptionist
business owner
Money
The first step in maintaining an inventory of supplies for the business is to develop a list of supplies that the business needs.
True
False
Trey compares the prices offered by different vendors for the same goods and services. Which part of the purchasing process is Trey involved in?
Price fixing
Bid analysis
Invoice payment
Receipt of goods
Mark, who owns a small home-appliance store, is in the process of placing an order for 12 refrigerators, 8 stoves, and 4 portable dishwashers. Mark is purchasing the refrigerators for $674.98 each, the stoves for $493.22 each, and the portable dishwashers for $284.83 each. What is the total cost of the stoves that Mark is purchasing?
$493.22
$3,945.76 THIS ONE $493.22 X 8
$2,278.64
$5,399.84
Which question should be answered by the purchasing function?
How can we inform customers of available merchandise?
How much merchandise should we buy?
How will merchandise be shipped to us?
How can we protect merchandise from pilferage?
The first step in maintaining an inventory of supplies for the business is to:
Conduct research to find vendors that sell the supplies.
Develop a list of supplies that the business needs.
Compare prices among vendors.
Organize a space to store the supplies.
Maintaining an inventory of supplies helps a business to:
Establish sales goals.
Operate efficiently.
Locate vendors.
Evaluate processes.
By purchasing just the quantity of supplies that is needed, purchasing can:
Plan the company's cash flow.
Provide an uninterrupted flow of supplies.
Buy supplies at the lowest possible price.
Minimize inventory investment.
Some businesses use an automatic reorder system to maintain an adequate:
Budget for expenses.
Work environment.
Inventory of supplies.
Maintenance system.
Primetime Incorporated is a retailer of sporting gear. It sells 500 pairs of a specific Nike sneaker each day. Nike, the supplier, takes a week (7 days) to deliver the order. For what quantity should the inventory manager place his/her next order? (500 X 7 DAYS)
72 units
350 units
3,000 units
3,500 units 500X7=
Any resource found in nature that is used to produce goods and services is a
Supernatural being
Natural resource
Grizzly bear
Is the process of evaluating products to make sure that they meet certain quality standards of the company.
Automation
Denial
Follow-up
Which is an example of a short-term objective?
Paying off a 25 year mortgage
Paying back a 15 year loan
Finishing a 6 week computer software course
Which process turns economic resources into goods and services?
Marketing
Production
Sales
