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WorksheetsEntre2 ASK Practice Exam Part 4 (#38-50)
Total questions: 13
Worksheet time: 7mins
When planning a business's product mix, the business must make decisions about components such as the product line, packaging, and
publicity goals
tag line.
brand development.
credit terms.
When a business charges high prices for luxury items, it is using a positioning strategy that emphasizes
customer value.
place utility.
seasonal intensity.
product quality.
To prevent others from using its brand logo, a business should
register its domain name.
apply for a patent.
obtain trademark protection.
prepare a licensing charter.
Which of the following components of a promotional plan addresses exactly how a business will achieve its goals:
Situation analysis
Budget
Strategy
Evaluation
Which of the following is a true statement regarding quality management and the environment:
Creating quality products is usually harmful to the environment.
Organizations should regard environmental issues above customer satisfaction.
Environmental issues have little to no impact on quality management.
Quality-management plans should create environmentally sustainable processes and products.
The general purpose of managerial planning is to
generate ideas.
impact society.
create utility.
provide direction.
The staffing function is different from the organizing function because staffing is
continuous.
optional.
the foundation of organizing.
more important than organizing.
Which of the following is an example of a broad objective that top management might develop for a business:
Sponsor a charitable event
Increase profitability
Replace damaged equipment
Purchase promotional advertising
Which of the following questions does the company description section of a business plan answer:
What is your business's marketing plan?
What is the general outlook for your industry?
Where is the business located?
What will you charge for your products?
What is the percent of increase in net profit from last year to this year if a business had a net profit of $35,500 on sales of $270,000 last year and a net profit of $50,000 on sales of $330,000 this year?
4%
2%
13%
5%
When tracking the performance of a business plan, businesses usually analyze the effectiveness of
management objectives.
operating strategies.
ownership structures.
staffing requirements.
Which of the following is an example of an external financial risk that a company might experience:
Poor budgeting and planning
Significant accounting errors
Change in currency exchange rates
Poorly produced products
Which of the following represents the best opportunity for innovation:
A restaurant offers online reservations.
A town's only car wash is always busy, time-consuming, and expensive.
An accounting firm just updated its computer software.
A city wants to institute a bike sharing system, but it is not sure people will use it.
