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WorksheetsBusiness Essentials Final Exam Review Part 3
Total questions: 25
Worksheet time: 13mins
Which is a example of a short-term objective?
becoming president of a large corporation
paying off a twenty-five-year mortgage
finishing a six-week computer software course
becoming fluent in a foreign language
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.
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.
Which is a benefit of putting one's goals in writing?
makes the goals attainable
develops one's perseverance
clarifies the goals
provides a challenge
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?
72 units
350 units
3,000 units
3,500 units
Which protects employees from liability when they administer first aid to
customers?
Good Samaritan Law
Workers' compensation
Health and Human Services Department
Occupational Safety and Health Administration
Why is it important for employees to follow instructions when using
equipment and machinery?
to speed up production
to minimize loss
to increase output
to decrease overtime
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
Which is an example of an employee maintaining a safe work
environment?
Kaylee trips over the computer wires that are lying on the floor of her
office.
Anna fails to tell her supervisor that the caution light is blinking on
the equipment.
Steve takes the elevator instead of the stairs during the practice fire drill.
William follows his employer's rules when he is operating heavy
equipment.
For safety's sake, employees who are learning new skills should take the
time to practice the skills and avoid taking:
vacations.
shortcuts.
rest breaks.
personal leave.
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.
Which question should be answered by the purchasing function?
Which question should be answered by the purchasing function?
How much merchandise should we buy?
How will merchandise be shipped to us?
How can we protect merchandise from pilferage
If a business is not concerned about social responsibility, it is likely to:
become solvent.
prosper.
grow.
be a failure.
In a private enterprise economic system, the interaction of supply and
demand primarily determines:
government regulation.
economic choices.
the extent of pollution.
product prices.
Which occurs when the supply of individuals who are able and willing to
work diminishes?
Capital goods become unlimited.
Capital goods become limited.
Human resources become limited.
Human resources become unlimited.
A killing frost destroys 80% of Florida's citrus crop. This will most likely
create:
pure competition.
a buyer's market.
a seller's market.
inelastic demand.
The usefulness of a product to consumers is referred to as product:
scarcity.
utility.
allocation.
consumption.
Which is an external factor that affects market price?
location of items in store
consumer buying power
number of items in stock
available credit terms
One factor that might limit the human resources available for certain jobs
is a/an:
organized training program.
organized training program.
good safety record.
inadequate pay level.
A farmer has 1,000 acres. He decides to plant apple trees on 800 acres
and raise cows on the remaining 200 acres. If he wanted to raise more
cows, he would have to reduce the amount of land allotted to growing
apples. This is an example of:
distribution.
opportunity cost.
efficiency.
utility.
A local dry cleaner that also launders and presses shirts is selling:
industrial supplies.
specialty goods.
tangible items.
consumer services.
Which is an example of ethical business behavior?
testing products to ensure they are safe to use
accepting a bribe from a prominent customer
using advertisements to confuse customers
disclosing partial information about products
The productivity of an individual worker can be measured by:
dividing the dollar totals of sales by the number of salespeople who
made the sales.
dividing the total number of products produced by the number of
production steps
dividing the dollar totals of sales by the costs of making all of those
sales.
dividing the number of customers served by the number of hours an
employee worked.
Which group of words best describes wants?
limited, changing, and compensating
unlimited, changing, and competing
limited, unchanging, and competing
unlimited, unchanging, and compensating
Three primary factors that affect the organizational structure of a
business include interpersonal relationships, tasks, and:
injunction.
authority.
initiative.
attrition.
