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WorksheetsBF10 BE Unit 4 Test
Total questions: 30
Worksheet time: 30mins
Which of the following is the most common reason for businesses to search for ways to make their products better and cheaper?
Competition
Publicity
E-commerce
Service marketing
Overall, what does marketing allow us to do?
Stop buying online
Live our daily lives
Feel better about shopping
Limit our spending
According to the marketing concept, which option demonstrates customer orientation?
Convincing a buyer to buy
Researching a firm’s competitors
Finding out what a buyer wants
Advertising the features of a product
In the marketing concept, whose point of view matters most?
Seller’s
Buyer’s
Marketer’s
Planner’s
Which of the following activities is an aspect of marketing a service?
Finding out customers’ favorite coffee flavors
Determining how much to charge for a haircut
Developing a new, improved cell phone
Advertising the state of Michigan on television
In an overall sense, where does marketing occur?
Wherever advertisements are
Wherever stores are
Wherever businesses are
Wherever customers are
Which of the following is an example of communicating with customers?
Creating a new product
Sponsoring a charity event
Choosing a store to distribute products
Developing a marketing plan
Which of the following is a method used to communicate with customers?
Personal selling
Manufacturing
Customer orientation
Marketing concept
Which of the following infl uences the process of determining price?
Customers’ perception of value
Publicity
Purchase location
Sales promotion
What provides the basis for all marketing goals and actions?
Pricing
Planning
Budgeting
Retailing
Which of the following is a marketing activity?
Balancing customer needs with wants
Leading a project team
Communicating with customers
Lowering operational expenses
By increasing awareness of the need for environmental controls, what has marketing done?
Regulated the standard of living
Improved the quality of life
Made buying more convenient
Added usefulness to products
Complying with environmental laws is part of which operations activity?
Logistics
Safety and security
Purchasing
Inventory control
Which of the following is a true statement about scheduling?
Scheduling for business is the same thing as personal scheduling.
Many businesses do not need to use scheduling.
Scheduling has the same timeline, regardless of the company.
Both manufacturers and service businesses rely on scheduling.
Deciding how to transport goods is part of which operations activity?
Logistics
Scheduling
Safety and security
Maintenance and repairs
Which operations activity is also referred to as procurement?
Logistics
Inventory control
Quality control
Purchasing
Which of the following is an example of one of a business’s inputs?
Services
Products
Employees
Goods
Which of the following is a capital investment decision?
How to manage cash flow
How to handle accounts payable
How to finance investments
How to manage inventory
How does the fi nance function relate to company spending?
It plans and controls spending.
It produces reports about spending.
It spends on investments only.
It does not relate to spending.
Which of the following is most likely to increase a company's capital assets?
Purchasing land for future expansion
Obtaining a loan to make payroll
Reducing operational expenses
Collecting accounts receivables
Which of the following is true of working capital management?
It deals with accounts payable and receivable.
It concerns long-term decisions.
It decides how investments will be financed.
It determines which projects the business will invest in.
Which of the following business activities monitors and controls the fi rm's revenue and debt?
Purchasing
Finance
Human resources management
Payroll
Which of the following fi nancial reports provides estimates of when, where, and how much
money will come into and out of a business next year?
Balance sheet
Cash flow statement
Income statement
Bank statement
What accounting record would summarize a business’s profi t or loss for a previous year?
Bank statement
Inventory record
Income statement
Balance sheet
A bank denies a business owner’s application for credit saying, “We feel that you would be unable to make the monthly payments because of your other debts.” What financial report did the bank review?
Budget
Income statement
Balance sheet
Operating budget
Which of the following categories of information are found on a balance sheet?
Income, expenditures, profit
Assets, liabilities, margin
Revenues, expenses, profit
Assets, liabilities, owner’s equity
Which of the following makes comparisons of the financial conditions at multiple organizations possible?
Bookkeeping
Source documents
Accounting standards
Trial balance
Why are accurate accounting records important to a business?
They prevent any financial losses.
They show how the business is doing.
They increase the return on investments.
They give the business an image of success.
Which of the following would be included in a business's income statement?
Operating expenses
Liabilities
Cash on hand
Net worth
What do managers use for financial planning purposes?
Accounting information
Business policies
Operating standards
Production schedules
