NEW
Font size
WorksheetsESB Domain 3: Production & Distribution & Domain 4 Financials
Total questions: 60
Worksheet time: 30mins
What is achieved when sales volume is high and continues to grow?
Product/market fit
Market saturation
Brand loyalty
Customer satisfaction
Which stage involves developing a concept for a product or service?
Prototype stage
Idea stage
Launch stage
Growth stage
What is created during the Prototype stage?
Business plan
Marketing strategy
Minimum Viable Product (MVP)
Revenue model
At which stage do sales gain momentum and growth begins?
Launch stage
Traction stage
Monetization stage
Growth stage
During which stage does a business start to earn revenue?
Idea stage
Prototype stage
Monetization stage
Traction stage
What is quality measured by according to the provided definition?
The price of the product or service
The popularity of the product or service
How well the product or service serves its user's purpose
The brand name of the product or service
According to ISO, what does the totality of features and characteristics of a product or service affect?
Its market value
Its ability to satisfy stated or implied needs
Its environmental impact
Its production cost
What is the purpose of a Minimum Value Proposition?
To create a final product for the market
To test and improve user experience
To increase production costs
To eliminate user feedback
What is one of the first steps in researching a product?
Talk with others that have produced the same or a similar product
Immediately start manufacturing the product
Ignore similar products in the market
Skip researching and go straight to selling
What should you gather information on when researching how to make a product?
How to make the product, identify the required materials, and determine how much the materials will cost
Only the color options for the product
The history of similar products
The personal preferences of the manufacturer
What is an important step if you need help in producing a product?
Finding a manufacturer that can make the product if needed
Designing the product without any help
Selling the product before it's made
Ignoring manufacturing options
Which of the following is a method to find out what customers' needs are?
Purchase equipment
Survey customers in the area
Hire more staff
Increase advertising
What is one way to communicate with potential customers according to the learning material?
Send emails
Place phone calls
Use social media
Host a webinar
Why might a company talk with customers who have received similar services from another company?
To compare prices
To understand customer needs
To negotiate contracts
To gather competitor information
What should a company consider purchasing if needed to perform a service?
Office supplies
Equipment
Marketing materials
Software licenses
What is the primary goal of value engineering?
Increase product complexity
Enhance product aesthetics
Reduce production costs
Extend product development time
How does value engineering benefit consumers?
Increases product price
Reduces product quality
Passes savings on to consumers
Delays product availability
What is a characteristic of Software as a Service (SaaS)?
Delivered over the Internet
Full control over the software
No subscription fee
No maintenance required
Which of the following is an example of Software as a Service?
Microsoft Word
Dropbox
Adobe Photoshop
Notepad
What is a potential downside of using Software as a Service?
Unlimited customization
No cost involved
Options/features may not meet requirements
Full control over the software
What is one advantage of building your own system?
You control options & features
It is inexpensive
It requires less time
It needs no extra staff
Which of the following is a disadvantage of building your own system?
It is inexpensive
It is time consuming
It requires no knowledge
It is easy to manage
What might be required when building your own system?
Less staff
Extra staff
No experience
Less knowledge
What is a potential cost-related disadvantage of building your own system?
It is inexpensive
It is cost-effective
It is expensive
It saves money
What is one advantage of leasing equipment?
Higher up-front costs
Fewer up-front costs
No long-term interest
No mark-up fees
What additional costs are associated with leasing equipment?
No additional costs
Long-term interest and mark-up fees
Immediate repair costs
Higher initial purchase price
What is one financial requirement when buying office space?
No upfront costs
Requires an upfront down payment
Monthly lease payments
No maintenance costs
What is a responsibility of owning office space?
No maintenance required
Must bear maintenance & repair costs
Free property management
No property taxes
What is a financial obligation when owning office space?
No taxes
Must pay property taxes
No upfront payment
Free utilities
What is the primary purpose of external quality control?
To ensure consistent product or service delivery
To reduce production costs
To increase employee satisfaction
To enhance marketing strategies
Which of the following is a benefit of external quality control?
Boosting the bottom line and increasing customer satisfaction
Reducing employee turnover
Enhancing brand recognition
Decreasing production time
Who is typically involved in setting external quality standards?
Local health & safety inspectors
Marketing teams
Product designers
Sales representatives
Which organization is responsible for enforcing external quality standards?
Government regulatory agency
Internal audit team
Customer service department
Human resources department
What is the first step in internal quality control?
Establish testing methods
Set quality standards
Review results
Refine & improve process
Which step involves using random test samples and logging defects?
Set quality standards
Establish testing methods
Review results
Refine & improve process
What is the final step in the internal quality control process?
Set quality standards
Establish testing methods
Review results
Refine & improve process
What is a distribution channel?
A method used to get a product from the manufacturer to the end user
A type of marketing strategy
A financial transaction process
A customer service technique
What is a key advantage of direct distribution?
Involves multiple intermediaries
Allows for higher priced goods
Allows the consumer to purchase directly from the manufacturer
Complicated and lengthy process
Which of the following is NOT a characteristic of direct distribution?
Shortest and least complicated
Customer pays for shipping
Involves middleman markups
No intermediaries
In direct distribution, how are goods typically delivered?
Through a chain of retailers
Door to door or via e-commerce
Through wholesalers
Via international shipping only
What is a characteristic of indirect distribution?
Products are sold directly to consumers.
Products are sold through intermediaries like wholesalers, agents, or retailers.
Products are cheaper.
Products are faster to deliver.
What is a disadvantage of indirect distribution?
It is less expensive.
It is more time-consuming.
It is more direct.
It is less reliable.
What determines the price a consumer pays for a product in indirect distribution?
The number of middlemen
The quality of the product
The brand popularity
The advertising budget
In a one-level channel of distribution, who are the two main parties involved?
Manufacturer and Retailer
Manufacturer and Customer
Wholesaler and Customer
Retailer and Customer
Which of the following is a two-level channel of distribution?
Manufacturer to Customer
Manufacturer to Wholesaler to Customer
Manufacturer to Retailer to Customer
Manufacturer to Wholesaler to Retailer to Customer
Shay is the sole owner of a flooring company. She is trying to determine her company's equity.
24,200
23,200
30,000.00
6,800.00
T/F Cost of goods sold is the cost of producing the goods sold by the company
True
False
T/F Labor and material costs are examples of Cost of goods sold.
False
True
Calculate Max's Net Income
3050.00
3700.00
7350.00
3055.00
Calculate Max's income for last quarter.
8650.00
7350.00
3700.00
Calculate Sharon's ending cash balance.
58345
567.00
9579300
94300.00
Jessica's rocking chair business had a revenue of $7,000 last month. What's her run rate?
869038.00
408634.00
84000.00
84003.00
T/F: ROI is used by businesses to show how much their investment is earning.
True
False
T/F: Investors and businesses use a cash flow analysis to understand how much cash they generate and spends over a period of time
True
False
Adam owns a restaurant. A new dish is being added to the restaurant’s menu. The cost of making the dish is$6.75, and he wants to make a 33% profit on each dish he sells. What is Adam’s selling price?
9.23
8.98
85.21
Mindy owns a restaurant. She has $14,200 in cash, $2,600 in inventory, $5,000 in equipment, a $3,800 credit card balance, and $1,400 in long-term debt. What is Mindy’s equity?
17,845.00
16,600.00
15,871.00
Jane owns a dress-making business. Her income last quarter was $8,000, her cost of goods was $1,500, and her total expenses were $3,000. What were Jane’s gross income and net income?
Net: 3500.00 Gross: 6500.00
Net: 6500.00 Gross: 3500.00
Net $7846 gross: 87513
Based on this Income statement, What is the Gross Profit?
78,451
$11,700,000
178,451,324
A Target store had beginning cash balance of $510,874 then had total cash sales of $984,364. They had to pay utilities of $5,471 and marketing costs of $3,245. What was their ending cash balance?
$1,495,238
$7,821,546
$1,486,522
Based on this Income statement and your answer for Gross Profit, what is the Net Profit if their expenses total $10,010,000?
$1,690,000
$1,781,235
8,154,335
