Intro to Biz VB Management 19-20

Question 1

What is the name of a person who owns part of a corporation?

Accepted Answer

Shareholder

Question 2

What was created with the idea that there's strength in numbers?

Accepted Answer

Unions

Question 3

the most common form of business ownership

Accepted Answer

Sole proprietorship

Question 4

when people focus on what other person is saying, then repeats back what they think they heard

Accepted Answer

Active listening

Question 5

the process of finding & hiring the best candidates for any given open position?

Accepted Answer

Recruiting

Question 6

A variable cost is:

Accepted Answer

A different amount each month

Question 7

T/F Corporations are typically the size of companies like Apple.

Accepted Answer

False

Question 8

skill to predict various aspects of the business several months/years into the future is called

Accepted Answer

Forecasting

Question 9

In order to calculate a company's profit, what must be subtracted from its revenue?

Accepted Answer

Expenses

Question 10

Making the manufacturing process more efficient can:

Accepted Answer

Bring the product to market faster

Question 11

example of a monthly, recurring expense

Accepted Answer

Utilities

Question 12

Which is one place you're likely to find job candidates?

Accepted Answer

all of these

Question 13

Which form of business can raise capital the fastest?

Accepted Answer

Corporation

Question 14

What is a work advance brought about by unions?

Accepted Answer

all of these

Question 15

What starts the bidding process?

Accepted Answer

Invitation to Bid

Question 16

How are public sector unions funded?

Accepted Answer

Dues

Question 17

Which law prohibits employment discrimination based on race?

Accepted Answer

Civil Rights Act

Question 18

T/F All strikes are now legal to organize.

Accepted Answer

False

Question 19

Which of the following is part of employee supervision?

Accepted Answer

all of these

Question 20

example of an initial expense

Accepted Answer

License fees

Question 21

If a company is described as being "in the red" it means:

Accepted Answer

The company is losing money

Question 22

A good way to reduce miscommunication between employees & managers is:

Accepted Answer

Exercise active listening

Question 23

process of anticipating problems, putting plans in place to cope with risks if they become real

Accepted Answer

Risk management

Question 24

what describes how to make employees feel like they're an important part of an organization

Accepted Answer

Employee engagement

Question 25

concept that states: more of something a company buys or produces, the cheaper each unit becomes

Accepted Answer

Economies of scale

Question 26

A corporation's resources that have value or can be used to produce something of value are:

Accepted Answer

Assets

Question 27

What type of corporation combines the benefits of a partnership & a corporation?

Accepted Answer

Limited Liability Company (LL

Question 28

involves capacity management, supply chain management & quality management

Accepted Answer

Operations management

Question 29

A synonym of Net Profit is:

Accepted Answer

Net Income

Question 30

Reducing _______ can reduce costs & lead to higher profit margins.

Accepted Answer

Waste

Question 31

what type of pricing includes fixed costs, direct costs, indirect costs, & your desired markup

Accepted Answer

Cost-plus pricing

Question 32

term used to describe the art & science of creating processes within an organization

Accepted Answer

Process design

Question 33

T/F Which of the following are factors that impact the length of a strike?

Accepted Answer

all of these

Question 34

Tuition reimbursement as part of the perks for a specific position is called:

Accepted Answer

Job training

Question 35

amount of money that a company pays each month or each quarter to the insurance company

Accepted Answer

Insurance premium

Question 36

amount that employee must pay for medical/dental care before insurance begins paying

Accepted Answer

Deductible

Question 37

max # claims that policyholder can file in total/for specific health needs over period of time

Accepted Answer

Coverage limit

Question 38

small amount the insured employee is responsible for paying when he/she visits a doctor/dentist

Accepted Answer

Copay

Question 39

The quantity of a product that has to be sold before you break even is:

Accepted Answer

Breakeven volume

Question 40

ensuring that raw materials get to factory floor & products get to customers on time

Accepted Answer

Materials requirements planning

Question 41

What is a CV?

Accepted Answer

Like a resume

Question 42

The difference between net profit & gross profit is that net profit takes what into account?

Accepted Answer

Taxes

Question 43

term used for a 3-5 year forecast of your income & expenses

Accepted Answer

Financial model

Question 44

The way a manager can track the financial health of a business is called:

Accepted Answer

Accounting

Question 45

T/F Employee engagement decreases the number of safety incidents.

Accepted Answer

True

Question 46

Employee recognition systems are designed to do which of the following?

Accepted Answer

all of these

Question 47

What is the term used to describe the cost to produce, package, & deliver one item?

Accepted Answer

Cost of Goods

Question 48

term used for the listing of your monthly expenses

Accepted Answer

Budget

Question 49

T/F In the formation of a corporation, you can hire yourself as an employee.

Accepted Answer

True

Question 50

T/F Employee engagement can decreases absenteeism.

Accepted Answer

True

Question 51

Retail companies compete based on:

Accepted Answer

all of these

Question 52

If a company doesn't have enough capacity to consistently meet an order by the deadline it can:

Accepted Answer

all of these

Question 53

gives the employee the freedom/opportunities to think about new/better ways to work

Accepted Answer

Professional development

Question 54

What type of pricing is determined largely by what other companies in the industry are charging

Accepted Answer

Competitors' Pricing

Question 55

T/F Employee engagement can increases employee turnover.

Accepted Answer

False

Question 56

Which type of company only spends money when absolutely necessary

Accepted Answer

Lean Startup

Question 57

to get financial support needed from insurance co. after a financial loss, business must 1st

Accepted Answer

file a claim

Intro to Biz VB Management 19-20

Questions 57

Intro to Biz VB Management 19-20

Questions 57