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Worksheets4th pd exam review
Total questions: 92
Worksheet time: 46mins
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.
What do service businesses sell?
raw goods and services
retail goods and services
intangible goods and services
wholesale goods and services
The two main divisions of the trade industry are:
producers and retailers.
wholesalers and retailers.
wholesalers and producers.
manufacturers and wholesalers.
A business that buys goods or services and sells them to the ultimate consumer is a:
manufacturer.
producer.
retailer.
wholesaler.
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:
e-tailing.
wholesaling.
social responsibility.
voluntary merchandise.
Retailing occurs wherever goods are:
researched and designed.
created or manufactured.
traded or exchanged for other goods.
sold to consumers or the ultimate customer.
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
All businesses should be socially responsible to whom?
endorsers
producers
providers
users
A form of demand for products in which changes in price correspond to changes in demand is:
consumer
elastic
equilibrium
inelastic
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
A characteristic of a seller's market is:
lower profits.
higher prices.
larger supply.
smaller demand.
Economic resources that help people be more productive are:
human resources.
natural resources.
capital goods resources.
The economic resource where people work to produce goods or services are:
capital goods.
human resources.
natural resources.
noneconomic goods.
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.
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 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
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.
Elastic demand is more likely when the good is:
a luxury.
imported.
lower price.
inexpensive.
ABC Corporation bought a new conveyor belt. What type of good is the conveyor belt?
capital good
natural good
public good
consumer good
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
A characteristic of an economic service is that it is:
useful.
tangible.
nontransferable.
free to everyone.
Which is an example of a noneconomic want?
a haircut
sport ticket
a concert ticket
rain for the crops
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.
Customers cast economic votes every time they:
buy a product.
visit a business.
give their opinion.
participate in a survey.
What is a want that can be satisfied by spending money to consume a good, service, or leisure activity?
economic
limited
noneconomic
unlimited
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
What do producers typically do when prices increase?
increase supply
decrease supply
increase demand
decrease demand
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
Inelastic demand is:
variable
fluctuating
limited to luxury goods
unaffected by price changes
If a student purchases a laptop to use for homework assignments, then the computer is considered what type of good?
capital
consumer
industrial
ultimate
What is the economic basis for the private enterprise economic system?
competition
the marketplace
the motive of profit
manufacturer supply chain
Which factor is a barrier to small-business and entrepreneurial success?
poor management
no vision for expansion
having a clear strategic vision
having a surplus of employees
A small business is defined as a business employing fewer than how many people?
500
750
1,000
1,500
Which behavior best describes the primary business activity of operations?
hiring qualified employees
planning for future success
producing goods and services
keeping accurate financial records
Ian works in the marketing department. What is the primary business objective of his department?
to help its corporation merge with another company
to hire qualified employees to perform complex job duties
to meet customers’ needs by offering appropriate products
to prepare for long-term success by planning and organizing
When Caring Companions and Smiling Pets merged two years ago, what was the most likely effect on the primary business activities of both companies?
All of the primary business activities were unaffected.
Each primary business activity became two smaller business activities.
All of the primary business activities combined into two distinct activities.
Each primary business activity combined with the matching activity of the other firm.
Which activity demonstrates information management?
hiring appropriate employees
researching customers’ needs
conducting employee evaluations
storing and retrieving employee payroll data
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?
Yes, the museum will be a for-profit business.
No, the museum will be a charitable institution.
Yes, the museum will be a not-for-profit business.
No, the museum will not be considered a business
Why is information management necessary for strategic information in a business?
to write an annual report
to make long-term decisions
to create sales presentations
to develop a short-term advertising campaign
In the human resource management process, what is the first task to be completed for staffing?
recruiting
determining need
determining job descriptions
screening and selecting applicants
Shannon is the manager and he ensures proper work effort by setting:
job standards.
diversity quotas.
hiring objectives.
expense budgets.
Which statement is true about a management information system (MIS)?
It includes people, processes, and practices.
It is the same thing as an information management program.
It does not assist with a business’s information management program.
It may be one part of a business’s overall information management program.
Which is a trend in proper information management?
decreased competition
increased number of workers in an office
decreased number of electronic documents
increased compliance of laws and regulations
What is one reason human resources management is important to the success of a business?
Human resources is responsible for customer complaints.
Human resources is responsible for staffing the business.
Human resources is responsible for reducing wasted inventory.
Human resources is responsible for eliminating jobs for the company.
Which is a reason that the role of human resources management is changing?
Business costs are going down.
The workforce is younger than ever.
There is greater diversity in the workforce.
Employees place a greater emphasis on personal lives.
A manager who helps an employee count the money in a cash drawer and prepare a bank deposit is demonstrating which workplace ability?
creativity
natural talent
technical skill
aggressive behavior
Which U.S. law relates to information management?
The Taft-Hartley Act
The Sarbanes-Oxley Act
The Landrum-Griffin Act
The Sherman Antitrust Act
How can information management be a challenge?
No one wants to participate in it.
There is only one right way to do it.
Many people do not understand what it is.
There is often not enough data to organize.
Which is a characteristic of human resources management?
evaluating sales
working with people
creating inventory list
scheduling production orders
Which is an important function of human resources management?
social media
capital investment
domain development
employee recruitment
What is the main purpose of management?
to obtain the needed resources
to accomplish the business’s goals
to reach a specific level of customer
to create accurate financial statements
Which action is a part of information management?
customer service protocols
management of technology
management of security operations
disseminating information for decision-making
What is the primary reason customers give for not returning to a business?
lack of available parking
lack of advertised merchandise
lack of courtesy from salespeople
lack of customer-service personnel
Which is a true statement about making promises to customers?
It is better to over-deliver.
It is better to over-promise
Customers do not remember broken promises.
Businesses should not make promises to customers.
When should customer relations skills, such as courtesy and friendliness, be emphasized during a business’s activities?
during facilities design
during the hiring process
during marketing research
during technology planning
When someone says that a business has good internal relations, this means the business has which?
strong managers
happy employees
business partners
satisfied customers
What should employees understand about each customer in order to develop positive customer/client relations?
The customer is in a hurry.
The customer is like most others.
The customer is a possible problem.
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?
positive customer service
business planning
technology upgrade
communication skills
How can positive customer relations boost productivity?
by ensuring proper bookkeeping
by cutting down on equipment costs
by avoiding wasted time and resources
by creating new manufacturing processes
How are salespeople who practice good customer relations primarily benefiting a business?
They are promoting poor service.
They are developing repeat customers.
They are preventing customer objections.
They are segmenting the business’s market.
Kathy wants to know whether her boutique made or lost money this month. The financial document she should view is her:
balance sheet.
income statement.
cash flow statement.
statement of owner’s equity.
The accounting document that shows a business’s revenue and expenses is a/an:
balance sheet.
income statement.
cash flow statement.
statement of owner’s 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
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
A change in products will have the most direct impact on a business’s:
distribution
finances
marketing
operations
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
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)
Which software enable users to enter and store their written work as various types of docutments?
database
presentation
spreadsheet
word processing
Andre keeps track of all orders, customer names and addresses, and inventory in an application software. Which application software is Andre using?
database
presentation
spreadsheet
word processing
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
span message
Jordan is using software to create a letter of application that he will sent to a potential employer. Which application software is he using?
database
presentation
spreadsheet
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
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
An employer is looking for an employee who is responsible and answerable. These employee qualities are called:
accountability
ambition
gratitude
professionalism
The Equal Employment Opportunity Commission is responsible for:
improving worker health and safety protection
requiring employers to treat all workers with fairness
showing prejudicial treatment, especially as an indication of bias
creating bargaining power and expressing job concerns with employers
Labor unions allow employees to :
improve worker health and safety protection
require employers to treat all worker with fairness
show prejudicial treatment, especially as an indication of bias
create bargaining power and express their job concerns with their employer
