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WorksheetsBusiness Essentials Final Exam Review
Total questions: 160
Worksheet time: 3hrs 40mins
Which is a way to show transparency?
XYZ Company makes sure its employees are taken care of.
XYZ Company ensures that all its products are biodegradable.
XYZ Company listens to multiple opinions before making a decision.
XYZ Company is always upfront about the financial situation of the company.
Tayshaun acts with honesty in all situations. He is demonstrating:
accountability.
integrity.
respect.
viability.
Piper looks up to her new boss and tries to learn from her behavior as much as possible. However, Piper knows that some of her boss's actions are unethical. Piper is uncertain whether she should follow her boss's example. Which ethical dilemma is Piper facing?
greed
a bad role model
pressure from others
the desire to prove herself
Which question should one ask himself/herself to determine whether one is facing a true ethical dilemma?
Is there money at stake?
Could someone be hurt by the actions?
Does the action make me look good to others?
Is my choice based on the most popular option?
Jasmine thinks it is OK to steal a few things from work. Which ethical principle would help her realize that the long-term repercussions of her actions could create an ethical dilemma?
fairness
growth
trustworthiness
viability
Shayla is not breaking any laws, but her behavior still is unethical. How is this possible?
Because ethical means doing what is easiest.
Because doing what is legal can also be considered unethical.
Because doing what is easiest is sometimes what is considered unethical.
Because the ethical thing to do is always what a group or majority is doing.
When Tori considers taking something that belongs to someone else, which ethical principle could help her recognize that she is facing an ethical dilemma?
accountability
integrity
transparency
viability
Liam always says 'please' and 'thank you'. He demonstrates:
trust.
respect.
integrity.
rule of law.
If one of your coworkers is treating another coworker unfairly, what is the ethical thing to do?
Speak up.
Ignore it.
Be aggressive.
Look for another job.
Ava doesn’t agree with her classmate’s opinion, but she listens carefully instead of starting an argument or insulting her. Which ethical principle is Ava illustrating?
Integrity
Transparency
Respect
Trust
How can you show respect for a person you’re speaking with?
Avoid listening to his/her opinions.
Start an argument when you don’t agree.
Interrupt when you have a point.
Be polite and maintain eye contact.
Following your teacher’s guidelines is an example of which ethical principle?
Transparency
Rule of law
Trust
Viability
Whitley's ethical beliefs are the same whether she's a work, at school, or hanging out with her friends. Whitley follows
ethical principles
ethical consequences
situational beliefs
popular beliefs
Which of the following is an ethical dilemma:
deciding whether to have french fries or a salad
choosing between buying a new shirt or a new book
deciding whether to lie to a friend or not
choosing which movie to see this weekend
Ethical issues deal with ______ choices.
realistic and unrealistic
beneficial and non-beneficial
enjoyable and unpleasant
right and wrong
Vivian told her parents she was going to the library when she was really going to the movies. Her parents found out, so now they don't believe her when she tells them where she's going. Vivian is facing a(n)
consequence
ethical principle
decision-making process
legal problem
After Paul gets away with cheating on his Spanish homework, his friends start cheating on their homework, too. This is an example of which consequence of unethical behavior?
lost trust
a bad example
legal problems
a poor reputation
Integrity means acting with
humility
a sense of humor
leadership skills
honesty
At work, a customer gives Shannon an extra $10. Instead of pocketing the money, Shannon lets the customer know he overpaid. Shannon is acting with
viability
transparency
integrity
rule of law
Marc keeps his friend's secret instead of sharing it with the rest of his friends. Which ethical principle is Marc illustrating?
transparency
trust
viability
accountability
Responsibility is a key part of which ethical principle?
transparency
accountability
fairness
rule of law
When DeShawn's teacher compliments his work on his group project, he's sure to give credit to the other group members who helped. DeShawn is showing
transparency
viability
rule of law
trust
Holden's group gets a low grade on a project because he didn't complete his share of the work. He owns up to his mistake and apologizes. Holden is demonstrating
trust
viability
rule of law
accountability
You make sure everyone working on your group project has an equal share of the work because you care about the ethical principle of
rule of law
accountability
fairness
transparency
If one of your coworkers is treating another coworker unfairly, what is the ethical thing to do?
speak up
be aggressive
ignore it
look for another job
What do service businesses sell?
raw goods and services
retail goods and services
intangible goods and services
wholesale goods and services
A business that buys goods or services and sells them to the ultimate consumer is a:
manufacturer
producer
retailer
wholesaler
The two main divisions of the trade industry are:
producers and retailers
wholesalers and retailers
wholesalers and producers
manufacturers and wholesalers
Retailing occurs wherever goods are:
researched and designed
created or manufactured
traded or exchanged for other goods
sold to consumers or the ultimate customer
All businesses should be socially responsible to whom?
endorsers
producers
providers
users
Economic resources that help people be more productive are:
human resources
natural resources
capital goods resources
nonrenewable resources
A characteristic of a seller’s market is:
lower profits
higher prices
larger supply
smaller demand
A form of demand for products in which changes in price correspond to changes in demand is:
consumer
elastic
equilibrium
inelastic
The Candy Store is selling more and more chocolate each quarter. Applying the law of supply and demand, what is most likely to happen over the next few quarters?
The price will increase, and the supply will increase.
The price will decrease, and the supply will increase.
The price will increase, and the supply will decrease.
The price will decrease, and the supply will decrease.
The economic resource where people work to produce goods or services are:
capital goods
human resources
natural resources
noneconomic goods
A large retailer wants to contribute to the well-being of society. It donates 10% of its proceeds to a charity that helps the environment. The retailer is demonstrating
social responsibility.
wholesaling.
voluntary chains.
e-tailing.
Monte works for a grocery store that buys food from producers and then sells it to customers. The grocery store is an example of a:
builder
trade industry
service business
raw-goods producer
Elastic demand is more likely when the good is:
a luxury
imported
lower price
inexpensive
The Brooks Company produces sneakers and studies trends in the marketplace to price their sneakers. The Brooks Company supplied as many sneakers as consumers demanded to create which market condition?
equilibrium
rationing
shortage
surplus
Gasoline prices increased 30 cents per gallon. Raylee continued to purchase gasoline because her demand and need to commute to work had not changed. This is an example of what type of demand?
complementary
discretionary
elastic
inelastic
ABC Corporation bought a new conveyor belt. What type of good is the conveyor belt?
capital good
natural good
public good
consumer good
A characteristic of an economic service is that it is:
useful
tangible
nontransferable
free to everyone
When the prices of iPhones increase, the quantity of iPhones offered for sale will increase. This is an example of the law of:
equilibrium
production
shortage
supply
Which is an example of a noneconomic want?
a haircut
sport ticket
a concert ticket
rain for the crops
Inelastic demand is:
variable
fluctuating
limited to luxury goods
unaffected by price changes
What do producers typically do when prices increase?
increase supply
decrease supply
increase demand
decrease demand
If a student purchases a laptop to use for homework assignments, then the computer is considered what type of good?
capital
consumer
industrial
ultimate
Consumers, producers, and owners of resources use money to create a flow of resources, goods, and services through which economic activity?
consumption
distribution
exchange
marketing
New Gear studied trends in the marketplace to price their jerseys. There was an abundance of jerseys remaining after meeting the demand creating which market condition?
equilibrium
rationing
shortage
surplus
To prepare for effective decision-making that ensures the efficient delivery of products to the marketplace, one should study:
marketing
economics
job outlooks
supply chains
Deciding to stay home and study, instead of going to a basketball game, is an example of a/an:
trade-off
capital good
economic want
economic service
Prices are used in our economy to:
offer excessive demand
cause no change demand
encourage excessive supply of products
determine what goods are to be produced and in what quantities
What is a want that can be satisfied by spending money to consume a good, service, or leisure activity?
economic
limited
noneconomic
unlimited
Customers cast economic votes every time they:
buy a product
visit a business
give their opinion
participate in a survey
The economic system that adopts the fewest new ideas or improvements is:
communist
market
socialist
traditional
In a socialist economy, what determines how basic economic questions are answered?
government
products
resources
retailers
What economy is based on public or governmental ownership of the production and distribution of goods?
capitalist
mixed
socialist
traditional
Under which type of economy does the government own the basic means of production, but with some private ownership of businesses?
command
communism
entrepreneurship
socialism
In the human resource management process, what is the first task to be completed for staffing?
A. recruiting
B. determining need
C. determining job descriptions
D. screening and selecting applicants
Which is a true statement about making promises to customers?
A. It is better to over-deliver.
B. It is better to over-promise.
C. Customers do not remember broken promises.
D. Businesses should not make promises to customers.
Why is information management necessary for strategic information in a business?
A. to write an annual report
B. to make long-term decisions
C. to create sales presentations
D. to develop a short-term advertising campaign
What is the primary reason customers give for not returning to a business?
A. lack of available parking
B. lack of advertised merchandise
C. lack of courtesy from salespeople
D. lack of customer-service personnel
Which behavior best describes the primary business activity of operations?
A. hiring qualified employees
B. planning for future success
C. producing goods and services
D. keeping accurate financial records
When someone says that a business has good internal relations, this means the business has which?
A. strong managers
B. happy employees
C. business partners
D. satisfied customers
When should customer relations skills, such as courtesy and friendliness, be emphasized during a business's activities?
A. during facilities design
B. during the hiring process
C. during marketing research
D. during technology planning
When Caring Companions and Smiling Pets merged two years ago, what was the most likely effect on the primary business activities of both companies?
A. All of the primary business activities were unaffected.
B. Each primary business activity became two smaller business activities.
C. All of the primary business activities combined into two distinct activities.
D. Each primary business activity combined with the matching activity of the other firm.
Which statement is true about a management information system (MIS)?
A. It includes people, processes, and practices.
B. It is the same thing as an information management program.
C. It does not assist with a business's information management program.
D. It may be one part of a business's overall information management program.
Which is a trend in proper information management?
A. decreased competition
B. increased number of workers in an office
C. decreased number of electronic documents
D. increased compliance of laws and regulations
Ian works in the marketing department. What is the primary business objective of his department?
A. to help its corporation merge with another company
B. to hire qualified employees to perform complex job duties
C. to meet customers' needs by offering appropriate products
D. to prepare for long-term success by planning and organizing
Shannon is the manager and he ensures proper work effort by setting:
A. job standards.
B. diversity quotas.
C. hiring objectives.
D. expense budgets.
How can positive customer relations boost productivity?
A. by ensuring proper bookkeeping
B. by cutting down on equipment costs
C. by avoiding wasted time and resources
D. by creating new manufacturing processes
Which is a reason that the role of human resources management is changing?
A. Business costs are going down.
B. The workforce is younger than ever.
C. There is greater diversity in the workforce.
D. Employees place a greater emphasis on personal lives.
What is one reason human resources management is important to the success of a business?
A. Human resources is responsible for customer complaints.
B. Human resources is responsible for staffing the business.
C. Human resources is responsible for reducing wasted inventory.
D. Human resources is responsible for eliminating jobs for the company.
What should employees understand about each customer in order to develop positive customer/client relations?
A. The customer is in a hurry.
B. The customer is like most others.
C. The customer is a possible problem.
D. The customer is a unique individual.
An office supply company provides discounts to teachers to make them feel important. The company is modeling which activity?
A. positive customer service
B. business planning
C. technology upgrade
D. communication skills
A manager who helps an employee count the money in a cash drawer and prepare a bank deposit is demonstrating which workplace ability?
A. creativity
B. natural talent
C. technical skill
D. aggressive behavior
Which activity demonstrates information management?
A. hiring appropriate employees
B. researching customers' needs
C. conducting employee evaluations
D. storing and retrieving employee payroll data
Which U.S. law relates to information management?
A. The Taft-Hartley Act
B. The Sarbanes-Oxley Act
C. The Landrum-Griffin Act
D. The Sherman Antitrust Act
Which is a characteristic of human resources management?
A. evaluating sales
B. working with people
C. creating inventory list
D. scheduling production orders
How can information management be a challenge?
A. No one wants to participate in it.
B. There is only one right way to do it.
C. Many people do not understand what it is.
D. There is often not enough data to organize.
What is the main purpose of management?
A. to obtain the needed resources
B. to accomplish the business's goals
C. to reach a specific level of customer
D. to create accurate financial statements
Which action is a part of information management?
A. customer service protocols
B. management of technology
C. management of security operations
D. disseminating information for decision-making
A group of individuals wants to open a museum that will display items from early settlers of the area. The group will charge just enough admission to pay the museum's operating expenses. Will the museum be a business?
A. Yes, the museum will be a for-profit business.
B. No, the museum will be a charitable institution.
C. Yes, the museum will be a not-for-profit business.
D. No, the museum will not be considered a business.
How are salespeople who practice good customer relations primarily benefiting a business?
A. They are promoting poor service.
B. They are developing repeat customers.
C. They are preventing customer objections.
D. They are segmenting the business's market.
Which is an important function of human resources management?
A. social media
B. capital investment
C. domain development
D. employee recruitment
The accounting document that shows a business’s revenue and expenses is a/an:
balance sheet
income statement
cash flow statement
statement of owners equity
Kathy wants to know whether her boutique made or lost money this month. The financial document she should view is her:
balance statement
income statement
cash flow statement
statement of owners equity
Isabelle owns a home cleaning business. She invoices her customer and records the transaction as soon as she finishes each home cleaning. Which type of accounting method is Isabelle using?
accrual
cash
cost
managerial
The finance activity regarding how to source income is called:
accounting
acquiring funds
administering assets
making capital investment decisions
The Happy Toys Company Board of Directors has decided to give some of its profits from the year to its shareholders. It has decided to pay a:
bribe
dividend
liability
tax
Cash is an example of:
assets
expenses
equity
liabilities
Which represents the inflow of funds into a business?
cash
debt
expenses
liabilities
The purpose of having accounting standards is to:
create jobs for people
avoid experiencing employee conflicts
create uniformity between financial statements
produce documents that look professional
Jordan owns a successful landscaping business. Landscaping is an example of a/an:
input
inventory
output
service
Molly plans out each part of the operations process to ensure the right item is in the right place at the right time. What part of the operations function is this?
marketing
logistics
purchasing
quality control
A change in products will have the most direct impact on a business’s:
distribution
finances
marketing
operations
Jerome makes laptop computers. The laptops are part of his:
input
output
parts
resources
Cliff wants to know how much money his business made this year. He wants to know his business’s:
margin
cash flow
end result
bottom line
Beverly has noticed that during the holiday season, her business needs more inventory, which also increases her:
debits
holding cost
profit and revenue
opportunity for shortages
Isaac buys wood from a lumber mill to make some park benches. The wood is part of his:
inputs
outcomes
outputs
services
Dalton diagrams out where each machine in the production process needs to go to maximize the efficiency of the space. What part of the operations function is this?
routing
logistics
purchasing
quality control
Beth wants to hire a disc jockey for her son’s graduation party. Deanna offers her a promotional package that includes three hours of music, special effect lighting, and a video. Deanna is marketing:
goods
ideas
places
services
Connor is working on a billboard to showcase his new service. What part of the marketing mix is he working on?
place
price
product
promotion
What are the programs that instruct computers to perform specific operations?
cookies
software
hardware
information systems
What do businesses often develop to be able to store and analyze data for the purpose of making business decisions?
advertisements
employee policies
information systems
machinery operating guides
Why do many businesses store information in a computerized database?
to maintain client lists
to transcribe word documents
to calculate and chart economic trends
to communicate company policies to employees
What is the set of computer programs that manage the hardware and software of a computer?
electronic resource
digital connection
operating system
transfer protocol
What is a computer system that is part of a larger machine and has a dedicated function to aid in the overall machine operations?
motherboard
embedded system
secondary memory
application programs
Which application software is designed to create, store, manage, search, and extract information?
database application
presentation application
spreadsheet application
word processing application
Bryan would like to send the same e-mail message to multiple people at once. He wants to save their e-mail contact information for future e-mail messages too. Which e-mail service should he use?
virus
attachments
address book
distribution lists
Mrs. Taylor is helping her students create accounting forms in class. They are entering numbers and text to create the forms, which calculate the ending financial information. Which application software are they using?
database
presentation
spreadsheet
word processing
Hugo is creating a book report for his English class. He can create an outline, the report, and a list of works cited all in the same application. Which application software is Hugo using?
database
presentation
spreadsheet
word processing
Corbin browses for workout gear online. He needs to type in the website address of the company to access the website. This website address is called:
a virus
a browser
the World Wide Web (WWW)
the uniform resource locator (URL)
André keeps track of all orders, customer names and addresses, and inventory in an application software. Which application software is André using?
database
presentation
spreadsheet
word processing
Which software enables users to enter and store their written work as various types of documents?
database
presentation
spreadsheet
word processing
Jordan is using software to create a letter of application that he will send to a potential employer. Which application software is he using?
database
spreadsheet
presentation
word processing
Sahara stores her friends' and co-workers' contact information in her e-mail application. Which type of e-mail service is this?
virus
attachments
address book
distribution lists
Berneice received an e-mail with an attachment from an unknown person. She quickly deletes this e-mail because it could contain a/an:
virus
address book
distribution list
spam message
Anna created a computer program that will alter the way a computer operates without the permission of the user. She attaches this file to an e-mail message. What is this attachment called?
virus
browser
worksheet template
uniform resource locator (URL)
Ethan is creating a personal budget to help him manage his income and expenses for the month. He enters all the numerical information and calculates the results. Which application software is Ethan using?
database
presentation
spreadsheet
word processing
Tina is an architect who works with engineers to create precision drawings and technical illustrations. What type of computer technology does Tina use?
expert systems
networking technology
computer-aided design (CAD)
Voice over Internet Protocol (VoIP)
Outer Banks Transmission Company specializes in automotive repair. Which computer technology helps the mechanic to diagnose car engine trouble?
expert systems
networking technology
computer-aided design (CAD)
Voice over Internet Protocol (VoIP)
What is the computerized storage of information and facts called?
database application
telecommuting software
Global Positioning System (GPS)
Personal Identification Number (PIN)
Applications and programs that instruct computers to perform specific operations are called:
hardware
networks
satellites
software
Which computer technology uses databases of highly skilled knowledge to offer advice or make decisions in such areas as medical diagnosis and stock exchange trading?
expert systems
networking technology
computer-aided design (CAD)
Voice over Internet Protocol (VoIP)
An object placed into orbit by humans and mostly used for communication purposes is called:
a port
software
a satellite
a network
What is a system of computers connected together by telephone wires, cable wires, or other means?
driver
network
satellite
software
Which document, provided either in paper format or in electronic format from a prospective employer's website, does a company use to collect employment information about a candidate?
D. letter of application
C. job application
B. résumé
A. license
Which word processing document lists one's detailed work history, educational history, skills, and references?
A. license
B. résumé
C. job application
D. letter of application
Miriam is very polite, kind to her friends, and positive in her outlook. These characteristics are called:
D. standards
B. attitudes
A. aptitudes
C. flaws
Kaylyn is a department manager for a local retail store. She likes her job and wants to advance within the store. Kaylyn's current work experience is a:
B. step in her career
C. part-time position
D. momentary liking or a whim
A. hobby
The Equal Employment Opportunity Commission is responsible for:
D. creating bargaining power and expressing job concerns with employers
C. showing prejudicial treatment, especially as an indication of bias
B. requiring employers to treat all workers with fairness
A. improving worker health and safety protection
Which document provides a brief introduction of the employment candidate and includes paragraphs about that person's qualifications and work experiences?
A. license
B. references
C. job application
D. letter of application
William plans to graduate high school in six months. Which type of goal is his plan?
A. ultimate goal
B. long-term goal
C. short-term goal
D. stepping-stone goal
Ashlynn has the necessary knowledge and skill to do her job as a nurse. Which characteristic best describes Ashlynn?
A. competent
B. dependable
D. responsible
C. loyal
Jaron is very athletic and an excellent baseball player. Jaron's skills are considered his:
D. shortcomings
B. attitudes
A. aptitudes
C. flaws
Karlee prepares a document to send to a prospective employer. The document includes her address, the prospective employer’s address, and several paragraphs about her work experience, and it ends with an appropriate complimentary closing. This document is called a/an:
resume
occupation
job application
letter of application
José likes to travel across the country in his recreational vehicle. When he arrives in a new town, he stays at a local campground. He looks for part-time employment while he is in town. The type of work José is looking for is best called a:
career
hobby
job
routine
Billy uses his knowledge and abilities to make management decisions in his job. What skills is he using?
analytical
basic
communication
transferable
Myra is typing a letter of application. She writes, “I am applying for the programmer position advertised in the Times Union. As requested, I am enclosing a completed job application, my certification, my résumé, and three references.” What part of Myra’s letter is this?
address
body
closing
salutation
Israel can be trusted to do what is right and what is expected or required. Which characteristic does he possess?
forgiveness
irresponsibility
loyalty
responsibility
Labor unions allow employees to:
improve worker health and safety protection.
require employers to treat all workers with fairness.
show prejudicial treatment, especially as an indication of bias.
create bargaining power and express their job concerns with their employer.
Isabel wants a career as a nurse. She is working on her CNA certificate while in high school. Next, she wants to receive her registered nurse degree. Lastly, she wants to receive her bachelor of science in nursing. What type of goal is Isabel creating?
strategic goal
attainable goal
short-term goal
stepping-stone goal
An employer is looking for an employee who is responsible and answerable. These employee qualities are called:
accountability
ambition
gratitude
professionalism
A person’s regular field of work or profession, such as a teacher or a nurse, is called a/an:
hobby
mission
occupation
position
Ladasha prepares a document to send to a prospective employer. The document lists her education, work experience, and certifications, and is very formal. This document is called a/an:
resume
occupation
job application
letter of application
