With direct deposit, an employer

transfers net pay electronically into the employee's account

When deciding whether to grant you credit,businesses consider 3 main factors... they are

character, capacity, and capital

Which of the following is not true about services? Services are

homogeneous;there's more control over quality than possible

To encourage the policyholder to keep medical expenses low, medical insurance policies have

deductible and coinsurance clauses

an increase in the general level of prices

The four phases of a business cycle are:

prosperity,recession,depression,and recovery

A personal data sheet is not

form of potential employer will ask you to complete before

Debit card differs from a credit card because when you use a debit card

money is taken out of your bank account

protects the creative work of authors,composers,and artists

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Principles of Business and Marketing - B

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Questions 34

Answers

1
A person who takes a risk in starting a business to earn a profit is a(n)
shareholder
financier
trendsetter
entrepreneur
2
With direct deposit, an employer
gets an employees payroll account to deduct FICA&local taxes
transfers gross pay electronically in the employee's account
accesses an employees payroll acct.to take retirement plan $
transfers net pay electronically into the employee's account
3
When deciding whether to grant you credit,businesses consider 3 main factors... they are
collateral, capacity, and cash flow
consumerism, credit data, and capital
character, capacity, and capital
character, controllability, and credit
4
The point where supply and demand are equal is
competition
scarcity
a hypothetical situation that never exists in real life
the market price
5
A short,specific statement of the reason a business exists and what it wants to achieve is a(n)
mission statement
article of incorporation
organization chart
code of ethics
6
Which of the following is not true about services? Services are
intangible,meaning that they have no physical form
homogeneous;there's more control over quality than possible
inseperable; they're consumed at the time they're produced
perishable
7
Three common formal trade barriers are
all of the above
free trade agreements, culture, and poor infrastructure
quotas, tariffs, and embargoes
common markets, embargoes, and producer cooperatives
8
A concern in ethical decision-making when a company results in an unfair benefit.This is called
business expertise
the hierarchy of command
a conflict of interest
social responsibility
9
Which of the following is not an example of a capital resource?
mining equipment
a delivery truck
a highly trained technician
an office building
10
To encourage the policyholder to keep medical expenses low, medical insurance policies have
surgical insurance and basic health coverage
comprehensive and well-care clauses
all of the above
deductible and coinsurance clauses
11
Which of the following is one of the three categories of products used by businesses &consumers
all of the above
processed goods
natural resources
agricultural products
12
A risk that presents the chance of loss but no oppurtunity for gain is a
pure risk
speculative risk
controllable risk
noneconomic risk
13
The ability to motivate individuals and groups to accomplish important goals is
control
manipulation
leadership
supervision
14
The term"baby boomers"is the group that has dominated the labor market.Baby boomers were born:
World War I and World War II
1946 and 1964
1968 and 1979
1924 and 1944
15
A planned reduction in employees needed in a firm to reduce costs is called?
 reorganization
 downsizing
job analysis
 outsourcing
16
Fraud occurs when consumers are given false info in an effort to make a sale.Which is violated?
the right to service
the right to be informed
the right to consumer education
the right to a remedy
17
Budget;says the financial plan for ongoing operations of the business for a specific period is
revenue budget
start-up budget
cash budget
operating budget
18
The difference between a person's assets and liabilities is his or her
cash inflow
budget
expenditures
net worth
19
What is a national program of health insurance for persons aged 65 and older known as
managed health care
workers compensation
Medicaid
Medicare
20
Which isn't an example of an input device that can be used to enter data into a computer system
scanner
laser printer
joystick
touch-sensitive screen
21
A financial plan
acknowledges your financial needs
all of the above
sets a direction for your future financial activities
is a report that summarizes your current financial condition
22
Inflation is
what usually occurs in periods of recession and depression
a decrease in the general level of prices
the phase in which unemployment begins to increase
an increase in the general level of prices
23
Which of the following federal government agencies provide helpful consumer information
(FTC) and the National highway traffic safety administration
Food and Drug Adminstration and the EPA
all of the above
U.S Department of Agriciulture and the (CPSC)
24
The four phases of a business cycle are:
poverty,wealth,distribution,and the cooling down period
customer contact,customer decision,final purchase,&follow-up
invention,manufacture,distribution,and sales
prosperity,recession,depression,and recovery
25
Which of the following is not one of the five management functions?
implementing
organizing
controlling
producing
26
Which of the following is not an example of an incentive system?
cafeteria plan
piece rate
commission
base plus incentive
27
A personal data sheet is not
form of potential employer will ask you to complete before
a listing of your education and work experience & references
a great help when filling out employment application forms
a summary of your important job-related information
28
Debit card differs from a credit card because when you use a debit card
you are borrowing from the bank to pay later
money is taken out of your bank account
you are actually securing a small loan
you are postponing actually paying for the product
29
Investments in securities include
mutual funds
stocks
bonds
all of the above
30
Which of the following is not an example of intellectual property?
software
movie
factory warehouse
music
31
A detailed account of a company's materials, supplies, and finished products is
inventory
all of the above
resources management
production planning
32
Goods and services sold to other countries are called
imports
exports
the balance of trade
the exchange rate
33
A copyright
none of the above
gives a inventor the right to make,or sell the item for10yrs
is a word,letter,or symbol linked with a specific company
protects the creative work of authors,composers,and artists
34
A user- owned, not-for-profit, cooperative financial institution is called a
life insurance company
consumer finance company
savings and loan association
credit union

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