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Business Functions and Concepts Quiz

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

Which business function is responsible for recruiting, hiring, onboarding, training, evaluating, and terminating employees?

a)

Human Resources

b)

Marketing

c)

Accounting

d)

Operations

2.

What is the process of recording, maintaining, and reporting an organization’s financial transactions and records called?

a)

Accounting

b)

Strategy

c)

Management

d)

Marketing

3.

Which term describes a company’s purpose, its reason for being, and the problem it is solving?

a)

Mission

b)

Vision

c)

Tactic

d)

Operations

4.

Which business function involves planning, organizing, staffing, controlling, and leading people, processes, and assets to achieve a goal or task in the best way possible?

a)

Management

b)

Marketing

c)

Information Management

d)

Accounting

5.

Complete the outline with the correct term. The Six Functions of Business i. Human Resources ii. Strategy iii. Information Management iv. _______ v. Marketing vi. Finance/Accounting

a)

Operations

b)

Logistics

c)

Procurement

d)

Legal

6.

Which business function involves people, processes, and systems that collect, organize, store, and secure relevant data and information to make informed decisions?

a)

Information Management

b)

Operations

c)

Strategy

d)

Marketing

7.

What is typically measured as the gain or loss generated on an investment, compared to the amount of money invested, and is normally expressed as a percentage?

a)

Return on Investment (ROI)

b)

Mission

c)

Strategy

d)

Operations

8.

Which of the following best describes "strategy" in a business context?

a)

A specific procedure or action used to support strategy, in order to achieve goals and objectives.

b)

The enterprise and pursuit of ideation, creation, communication, and delivery of profitable products and services.

c)

The daily functioning of an organization.

d)

A for-profit or non-profit organization involved in commerce.

9.

Business means a for-profit or non-profit organization involved in commercial, industrial, or professional commerce. What is the meaning of industrial?

a)

The pursuit of a profit margin.

b)

Customized services provided for a fee.

c)

Collecting, organizing, and storing data.

d)

Items that are manufactured.

10.

A company’s purpose, reason for being, and problem it is solving is its:

a)

strategy

b)

mission

c)

marketing

d)

finance

11.

Which business function deals with the daily functioning of an organization, managing the inputs and outputs, and includes manufacturing, purchasing, and logistics?

a)

Marketing

b)

Finance/Accounting

c)

Operations

d)

Human Resources

12.

What is the process of recording, maintaining, and reporting an organization’s financial transactions and records?

a)

Accounting

b)

Finance

c)

Marketing

d)

Strategy

13.

A specific procedure or action used to support strategy, in order to achieve goals and objectives, is called:

a)

A tactic

b)

A mission

c)

A vision

d)

A policy

14.

Which term describes the ability to care, empathize, and understand the needs of others?

a)

Technical skills

b)

Human skills

c)

Conceptual skills

d)

Analytical skills

15.

A furniture store manager has been tasked with increasing the sales of higher-priced items such as couches and mattresses by 25%. So, the manager determines the necessary resources and actions that will need to be taken to reach that goal by:

a)

organizing

b)

planning

c)

controlling

d)

leading

16.

Widgets Co. store managers have set a goal to increase their customer base by 10% over the next three months. The managers have determined that to meet their goal they will need to hire at least five new salespeople. Recruiting, interviewing, and hiring these new employees is:

a)

planning

b)

controlling

c)

staffing

d)

organizing

17.

A clothing store manager launched a new ad campaign online to increase consumer awareness of a new clothing line the store carries. To check if the ad campaign is producing the desired results, the manager tracks customer impressions and the reach of the online ads. Tracking data against the goal to increase customer awareness is an example of:

a)

controlling

b)

planning

c)

staffing

d)

organizing

18.

A manager’s ability to make good trade-offs with limited resources, as well as to effectively handle difficult and/or complex business challenges is:

a)

people skills

b)

procedural skills

c)

front-line skills

d)

problem-solving skills

19.

Inspiring, motivating, influencing and maximizing the efforts of people towards a common purpose is:

a)

membership

b)

repetitive

c)

leadership

d)

procedural

20.

The shared beliefs, values, goals, attitudes, and behaviors of a company’s employees is the:

a)

company culture

b)

company values

c)

leadership style

d)

management style