What skills would a college admissions representative and a business educator most need to share?

They both requires solid people skills.

If there are no investors, do businesses still need to use GAAP?

Yes, every professional accountant uses GAAP.

Kim knows that her boss is on vacation this week,so she decides that she will work from home on Friday. Is this ethical?

Yes, if there is a policy that allows her to do so and she follows it.

Who benefits most from professional development?

established professionals looking to build new skills

Why is global marketing particularly challenging?

Brands must maintain a consistent message that applies across cultures.

If you are interested in marketing, but your college doesn't offer it as a major, what other courses could help you?

any class that teaches about decision making

A business gets a contract for $10,000 to clean an office building for three months. How would this income be recorded?

The $10,000 total would be entered at once.

Denzil is really good a math and likes working independently. He would rather be part of a team than leading it.

Best career for him is accountant

Eva would like to be an accountant. Will she likely find a career with a large company?

Maybe, but small businesses require their services too.

How can you tell if you have an aptitude for a subject?

You learn it more easily than other subjects.

Which is the best example of providing a return for investors?

managing finances to meet long-term financial goals

Why is projected growth an important factor to consider when choosing a career?

It indicates whether jobs in a field are likely increase or decrease.

What happens if a venture capitalist invests in a company that does not end up making much of a profit?

The venture capitalist loses the money invested.

You have been assigned a project working with different departments that you haven't worked together before.

You should know the expectations and responsibilities for working first

Under what circumstance might a business hire a financial analyst?

A regional chain is trying to decide whether or not to go national.

The median wage for a business career is $67,710 annually. What does this mean?

Half of those who work in business make less than this amount and half more

Which of the following is the BEST example of cultural sensitivity?

learning about the traditions and beliefs of another culture

Going to college is not for you, but you know that you would like to open a business one day, maybe a restaurant.

Build skills finding a restaurant that has a management training program.

Based on the quarterly report, what is the overall state of this business?

It is profitable and has some debt.

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Business Intro_S2_Unit 6, 7, 8

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Answers

1
What skills would a college admissions representative and a business educator most need to share?
They both requires solid people skills.
They both require a lot of risk assessment.
They both require advance math skills.
The both require preparing complex reports.
2
If there are no investors, do businesses still need to use GAAP?
Yes, every professional accountant uses GAAP.
No, GAAP are only required for publicly traded companies.
No, only investors need the reports that GAAP create.
Yes, all businesses should use GAAP.
3
Jo is trying to get a job in social media and would love to work for her favorite pizza chain. What skills can help her?
programming and marketing
design and culinary arts
retail sales and accounting
writing and data analytics
4
Kim knows that her boss is on vacation this week,so she decides that she will work from home on Friday. Is this ethical?
No, Kim cannot change the conditions of her work.
Yes, as long as her coworkers do not notice and ask questions.
No, if she does this every employee will want Friday off.
Yes, if there is a policy that allows her to do so and she follows it.
5
Who benefits most from professional development?
employers looking to evaluate employees’ skills
colleges and universities that offer majors in the field
college students looking to start a career
established professionals looking to build new skills
6
Why is global marketing particularly challenging?
Marketing in other nations generally is much more expensive.
Increasing international trade means that fewer global campaigns are needed
Very few products are sold internationally, so there are few models
Brands must maintain a consistent message that applies across cultures.
7
If you are interested in marketing, but your college doesn't offer it as a major, what other courses could help you?
any course in international economics
any general field of study
any class that teaches about decision making
any kind of accounting
8
A business gets a contract for $10,000 to clean an office building for three months. How would this income be recorded?
It would be entered as three distinct payments.
No payments are recorded until the job was complete.
There would be a bi-weekly invoice.
The $10,000 total would be entered at once.
9
Denzil is really good a math and likes working independently. He would rather be part of a team than leading it.
Best career for him is college admissions representative
Best career for him is business educator
Best career for him is accountant
Best career for him is social media manager
10
Jack is a junior in high school and is looking for a summer job. What would be the best place to look online for a job?
a summer camp hiring service
a job board for internships
any professional job board
her city’s human resource page
11
What is the formula for Owner's Equity?
Liabilities-assets
Assets-liabilities
Total Monthly Cost/Selling Price
Month Start Rate-Month Ending Balance
12
Eva would like to be an accountant. Will she likely find a career with a large company?
Hard to say since accountants have limited career opportunities.
No, most accountants are self-employed.
Maybe, but small businesses require their services too.
Yes, only very large companies keep accountants on staff.
13
How can you tell if you have an aptitude for a subject?
You learn it more easily than other subjects.
If you really apply yourself, you can do well.
It is a popular subject in your school.
You are required to study it in school.
14
Which is the best example of providing a return for investors?
not taking on debt at any point in the business
managing finances to meet long-term financial goals
providing the required financial reports to investors
hoping to expand the business at a later point
15
Why is projected growth an important factor to consider when choosing a career?
It determines how much the average career in that field pays.
It will tell whether or not a college education is a good investment.
It indicates whether jobs in a field are likely increase or decrease.
It is an estimate, so it should not be taken too seriously.
16
What happens if a venture capitalist invests in a company that does not end up making much of a profit?
The venture capitalist can take over and run the company.
The venture capitalist can sue the company in court.
The venture capitalist loses the money invested.
The venture capitalist will provide more funds to save the company.
17
You have been assigned a project working with different departments that you haven't worked together before.
You should know what it is like working in each department first
You should proofreading the final version of the project first
You should know whether they think the project is worthwhile first
You should know the expectations and responsibilities for working first
18
Under what circumstance might a business hire a financial analyst?
A company wants to streamline its internal manufacturing processes.
A regional chain is trying to decide whether or not to go national.
A business wants to monitor its income and expense more accurately.
A business wants to ensure that it is hiring the most qualified employees.
19
The median wage for a business career is $67,710 annually. What does this mean?
This is the salary that those who work in business will start out making.
Half of those who work in business make less than this amount and half more
It is average salary of those who work in business.
Everyone that goes into business is guaranteed to make that amount.
20
Which is an employment sector that is most likely to have a job board dedicated to it?
all entry-level positions
all non-profit organizations
fast food workers
K-12 teaching
21
Which of the following is the BEST example of cultural sensitivity?
translating something into another language
visiting another country and observing the culture
being polite to those from other cultures
learning about the traditions and beliefs of another culture
22
Based on the quarterly report, what is the largest expense this business has?
Wages
Inventory
Inventory
Rent Expense
23
Going to college is not for you, but you know that you would like to open a business one day, maybe a restaurant.
Build skills finding a restaurant that has a management training program.
Assume that he will needs someone with formal education to be his partner.
Reconsider career prospects and find one that does not require education
You can build computer skills by taking a job working remotely.
24
Based on the quarterly report, what is the overall state of this business?
Coaching services are the bulk of this business.
Its total expenses are more than its revenue.
It is profitable and has some debt.
Wages are one of the highest expenses.

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