Which of the following best describes a “bond”?

a debt promised to be paid back over time plus interest

What is the purpose of a PERT chart?

visual project management tool used to map out and track tasks and timeline

What are some of the best ways to develop Market Share?

lower prices and create more brand awareness

What is a GANTT chart?

a chart shows you what has to be done (activities) and when (the schedule)

What are the five functions of management?

planning, organizing, staffing, leading, and controlling

What are the five (5) factors that affect your credit score?

payment history, credit utilization, credit length, credit mix, new credit

money the bank pays you for leaving it in your savings account

What does leading mean?

influencing people to accomplish the goals of a business

Which of the following is the definition of "channel of communication"?

the means by which a message is conveyed

What is a long-term goal?

a goal accomplished in more than one year

Which of the following activities would be a task for supervisory management?

supervise employees who carry out tasks determined by middle and top mgmt.

What are the four (4) types of management styles?

autocratic, bureaucratic, democratic, laissez-faire

rise in the cost of goods and services over time

Which type of business ownership is the business owner 100% liable for paying any fines or debts the business incurs?

Sole Proprietorhip & Partnership

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TSA Review 1

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Questions 97

Answers

1
What does FICO mean?
Fair Income Criteria
Fair Isaac Corporation
Fair Incentive Core
Fair Inclusive cash
2
What is the gross pay for an employee who worked 80 hours at $10 per hour and pays $80 in taxes?
$810
$780
$800
$720
3
What type of financial document is also known as a “profit and loss statement”?
Balance Sheet
Income Statement
Profit Statement
Cash Flow Statement
4
Which of the following best describes a “bond”?
a debt promised to be paid back over time plus interest
a share or part ownership of a company
someone else's debt that is promised to be paid back plus interest
company's debt that you buy in the stock market and hope to make money
5
What does it mean to make a withdrawal?
to double your money
to give a gift
take money out of account
to lose money
6
Which leadership style is the exact opposite of an autocratic leadership style?
Stategic
Autocratic
Laissez-faire
Democratic
7
What is the customer segmentation that focuses on habits, hobbies, interests, personalities, and lifestyle?
Geographic
Psychographic
Behavioral
Demographic
8
What type of business ownership is owned by one person?
Entrepreneur
Partnership
Corportation
Sole Proprietorship
9
What is the purpose of a PERT chart?
chart to provide information and forecast the tasks and timelines
An audio project management tool used track the failed tasks and timelines
graph for project management used to track errors and outlier for a project
visual project management tool used to map out and track tasks and timeline
10
What type of leader is hands-off and does not make any important decisions?
delegative
authoritarian
laissez-faire
support
11
What are some of the best ways to develop Market Share?
run negative ads about your competitors
come up with a new product
lower prices and create more brand awareness
charge less than it costs you to make the product.
12
What do product, price, promotion, and place all contribute to?
Marketing mix
Market segmentation
Market strategy
Demographic
13
What is a GANTT chart?
a chart to shows which supplies are needed and when
a chart that shows how much money is spent on project
a chart shows you what has to be done (activities) and when (the schedule)
a chart that shows what skills needed and the time to use those skills
14
Which of the following is the correct square footage for a room measuring 12’ x 10’?
100 square feet
132 square feet
120 square feet
144 square feet
15
What business management structure is more focused on skill and less on management hierarchy?
top-down management
military management
vertical management
horizontal management
16
Which management style takes control of a situation and very rarely listens to the people they are managing?
Authoritative manager
Pace setting manager
Participative manager
Coach style manager
17
Which type of management style asks for employee input?
Autocratic style
Democratic style
Laissez-faire style
Bureaucratic style
18
What does it mean to deposit?
money the bank pays you for leaving it in your savings account
add money into an account
the amount of money you deposit in your account to begin saving
take money out of an account
19
What are the five functions of management?
planning, organizing, staffing, selling, and controlling
planning, staffing, leading, performing, and controlling
planning, staffing, leading, managing, and controlling
planning, organizing, staffing, leading, and controlling
20
To have a commercial for your business is which P in the four P’s of marketing?
Product
Place
Promotion
Price
21
What are the five (5) factors that affect your credit score?
payment history, negative credit, length, credit mix, new and old credit
pay check, using Credit cards, length of work, credit type, old credit
payment history, not using, short time of credit, single type of credit use
payment history, credit utilization, credit length, credit mix, new credit
22
What is interest?
the amount of money you deposit in your account to begin saving
an account that is saved for your child’s college
a type of account where you can only use half of your money
money the bank pays you for leaving it in your savings account
23
What is a characteristic of an autocratic leader?
lets employees do whatever they think is best
gives orders to employees
asks for employees’ input
takes orders from employees
24
What does the Bureau of Labor Statistics use to measure inflation?
Unemployment rate
GDP
GDP per capita
CPI
25
In which financial document would you record a loan of $100,000?
Profit Statement
Balance Sheet
Income Statement
Cash Flow Statement
26
What does leading mean?
influencing people to accomplish the goals of a business
all the activities to hire and keep workers
the team of people who make decisions for the business
goals and strategies that ensure a business’s survival, prosperity & growth
27
Which of the following is the definition of "channel of communication"?
the means by which electronic communication is conveyed
the means by which verbal message is conveyed
the means by which non-verbal communication is conveyed
the means by which a message is conveyed
28
What is a long-term goal?
a goal accomplished in a week
a goal accomplished in more than one year
a goal accomplished in one week
a goal accomplished the same day
29
What is your income minus government taxes that are withheld?
a. net income
a. gross income
a. nontaxable income
a. taxable income
30
What does “GDP” stand for in terms of economics?
Gaining Direct Power
Gross Direct Products
Gross Domestic Problems
Gross Domestic Product
31
What are forecasting and evaluating financial risk in a business an example of?
Financial forcasting
Financial Management
Legal evaluation
Risk Management
32
Which is the value of something that is given up to get something else that is wanted?
Opportunity Cost
Self-interest
Trade-off
Capital
33
Which of the following activities would be a task for supervisory management?
manage people and structure of the company
supervise employees who carry out tasks determined by middle and top mgmt.
supervise managers
implements decisions of top management
34
Where does the accounts payable appear on the balance sheet?
Current assets
Equity
Net worth
Current liabilities
35
In which financial document would you record the money earned from selling 200 hotdogs?
Balance Sheet
Cash Flow Statement
Profit Statement
Income Statement
36
Which of the following is NOT a type of interview?
Stress interview
Audition
One on one interview
Computer interview
37
What is the financial statement that provides aggregate data regarding all cash inflows a company receives?
Profit Statement
Income Statement
Balance Sheet
Cash Flow Statement
38
Which of the following is NOT a factor of production?
Labor
Production possibliites curves
Capital
Land
39
What is the ownership of land including the buildings and resources located on the land?
Real Estate
Mutual Funds
Bonds
Investments
40
Which term is used to describe a person that organizes and operates a business and assumes the risks of the business?
Manager
Employee
Entrepreneur
Buyer
41
What does "CPI" stand for in terms of the United States economy?
Customer Price Index
Customer Practice Index
Consumer Price Index
Consumer Place Indirect
42
Which information is LEAST likely to be considered when formulating a project plan?
Project budget
Risks involved to organize the project
Timeline of the project
Personal financial statements
43
Which of the following would involve paying tariffs?
Employing new workers
Registering real property
Enforcing construction contracts
Trading across borders
44
What are the four (4) types of management styles?
autocratic, bureaucratic, democratic, laissez-faire
parliamentary, dictatorship, democratic, laissez-faire
autocorrect, bureaucracy, dictatorship, laissez-faire
autocratic, bureaucratic, democratic, free will
45
What is the market segmentation that groups customers by city, state, zip code and other physical location variabl
Demographic
Geographic
Behavorial
Psychographic
46
Where does the accounts receivable appear on the balance sheet?
Equity
Current assets
Net worth
Current liabilities
47
What is inflation?
return on investment expressed as a percentage of amount of money invested
the uncertainty regarding the outcome of a situation or event
total return on an investment
rise in the cost of goods and services over time
48
What is the ability of one trading nation to make a product at a lower opportunity cost than another nation known as?
Opportunity Cost
Comparative advantage
Absolute advantage
The uneven distribution of production factors
49
1. What does B2C mean?
Business to consumer
Business to commerce
Buying to customer
Buying to consuming
50
Which type of business ownership is the business owner 100% liable for paying any fines or debts the business incurs?
Sole Proprietorhip & Partnership
Corporation
Partnership
Solde Proprietorship
51
Jim's total earnings are $1,479.00. If the Social Security tax rate is 6.2%, what is her Social Security tax deduction?
$91.70
$62.70
$1,485.20
$916.98
52
What is the market segmentation that groups customer by their digital footprint and customer loyalty?
Behavioral
Psychorgraphic
Demographic
Geographic
53
Assets, liabilities, and owner's equity are three main parts of what financial document?
Owner's equity statement
Income statement
Cash flow statement
Balance sheet
54
What is principal?
take money out of account
to lose money
to double your money
the amount of money you deposit in your account to begin saving
55
What does SMART stand for?
Specific, Measurable, Achievable, Realistic, Timebound
Specific, Measurable, Attention, Rational, Timely
Scientific, Marketable, Attainable, Realistic, Timebound
Scouting, Measurable, Achievable, Reliable, Timely
56
What is the impact of an ergonomic workplace on the productivity of the workforce?
Increases
Unmeasurable
Decreases
No impact
57
What are the Marketing P's?
Product, Performance, Promotion, and Paper
Product, Price, Promotion, and Place
Product, Price, Promotion, and Particle
Product, Performance, Promotion, and Place
58
What is a good example of information utility?
the instructions on a product's packaging
the website of the Better Business Bureau
the origin story of a brand
the lecture hall of a major university
59
Which program is a spreadsheet program used to create grids of text, numbers, and formulas?
Outlook
PowerPoint
Excel
Word
60
What department is normally responsible for a company’s onboarding and getting new employees adjusted to the workplace?
Marketing
Finance
Human Resources
Teamwork
61
What term is used to describe the market segmentation that groups customers by age and gender?
Behavioral
Demographic
Psychographic
Geographic
62
What type of manager is encouraging, helpful and works with their employees to reach their goal?
Coach style manager
Participative manager
Pace setting manager
Authoritative manager
63
What does intellectual property mean?
Youe own the good
You own the idea
You own the product
You own the distribution
64
What is standard of living?
a necessity or an essential item required for life
unnecessary but desired items which increase the quality of living
overall state of being happy healthy, and prosperous
the minimum necessities, comforts, or luxuries thought to be essential
65
What kind of product is a product you can touch?
Good
Tangible
Intangible
Service
66
Which of the following are all examples of wants?
candies, vacation, and gifts
school, sleep, and water
water, home, and sleep
water, food, and shelter
67
If you were to ask "How can I make it easier for customers to find my products?" what marketing mix element is this?
Product
Price
Promotion
Place
68
What is a financial goal?
a specific goal accomplished in a week
a specific goal accomplished in 2 years
a specific goal accomplished in less than a year
a specific objective to be accomplished by financial planning
69
According to the law of demand, what happens when the price for a good or service decreases?
Quantity demanded decreases
Supply decreases
Quantity demanded increases
Demand decreases
70
What is a short-term goal?
a goal accomplished in 3 years
a goal accomplished in 2 years
a specific goal accomplished in less than a year
a goal accomplished in more than 5 years
71
What is the definition of accounts payable?
money owed by a company to its customers
money owed by a company to its creditors
money owed by a company to its employees
money owed by a company to its IRS
72
Which is NOT an example of a need?
Concert tickets
Shelter
Money
Food
73
Which two taxes are used to create FICA?
Federal and Social Security
Social Security and Medicare
Federal and State
Medicare and State
74
What is the correct order of steps in composing an effective email from a company to a vendor?
Open new email, construct message, list email subject, send
New email, complete heading information, construct message, proofread, send
Open new email, complete heading information, construct message, send
New email, add recipient address, list email subject, construct message
75
What is an investment that pools the money of many individual investors to buy a diversified portfolio of securities?
Mutual Funds
Real Estate
Bonds
Investments
76
What assets can be used as collateral to secure a loan?
gifts, money market, business loans
checking, saving bond, cash on hand
houses, cars, stocks, bonds, cash
livestock, coins, 401K, IRA account, checks
77
What term is used to describe the amount of wages that an employee takes home or deposits in a bank account?
Payment
Gross pay
Paycheck
Net pay
78
What does SWOT stand for?
shortness, wiliness, opportunity, and threats
strength, weaknesses, opportunity, and threats
shelter, weaknesses, ordinary, and threats
strength, weakling, opposition, and treat
79
Setting a goal to raise $100,000 in donations for the fundraiser is an example of which component of the SMART goals?
Specific
Measurable
Time-bound
Realistic
80
What are the three (3) main types of credit?
revolving, installment, open account
travel rewards, balance transfer, secured credit card
student loans, car loans, department credit cards
credit cards, home equity line of credit, personal loan
81
What is ergonomics?
designing environments and products to match the individuals who use them
insurance providing wage replacement and medical benefits injured workers
work-related musculoskeletal disorders
quality, state or fact of being able to generate, create, bring forth goods
82
What is the definition of accounts receivable?
money owed to a company by its owners
money owed to a company by its debtors
money owed to a company by its suppliers
money owed to a company by its vendors
83
Which of the following interview methods would be the best method for hiring an actor?
One on one interview
Stress interview
Telephone interview
Audition
84
If the GDP in America is trending downward, what can we predict will happen to the unemployment rate?
the unemployment rate will rise
the unemployment rate will rise and then fall
the unemployment rate will fall
the unemployment rate will stay the same
85
What is the process of dividing a market of potential customers into groups?
Market split
Market segmentation
Market divide
Marketing
86
Which of the following is discrimination?
to hire you for good attitude
denial of opportunities to individuals on the basis of some characteristic
process of attracting appropriate applicants for an organization’s jobs
to give you a raise based on your evaluation
87
What does OSHA mean?
Occupational Safety Health Administrators
Operational Sound Home Administrators
Occupational Sheet Heal Administrators
Ongoing Safe Home Administrators
88
Which element should NOT be included in a marketing plan?
Staffing chart
Strategic direction
Target consumers
Product mix
89
Which statement best describes what ‘scarcity’ is?
limited wants with limited resources
limited wants with unlimited resources
unlimited wants with unlimited resources
unlimited wants with limited resources
90
What type of business ownership is owned by two or more people?
Corporation
Entrepreneur
Sole Proprietorship
Partnership
91
In marketing terms, what is utility?
added value
relative value
decreased value
water, power, and trash
92
A number between 300-850 that depicts a consumer’s creditworthiness.
debit card
loan
credit card
credit score
93
Which negative element does NOT impact credit history?
Late payments
High credit balances
High debt to income ratio
Limited savings
94
How does possession utility affect the buying decision?
it allows a customer to take home a product now
it allows customers the opportunity to consider the purchase
it allows customers the opportunity to convert possession to a third party
it allows customers time to save for a future purchase
95
What business management structure has a "chain of command" where you report to the manager above you?
horizonatal management
vertical management
top-down management
cross section management
96
Which statement BEST describes what surplus is?
unlimited wants with unlimited resources
limited wants with limited resources
limited wants with unlimited resources
unlimited wants with limited resources
97
What is a money market account?
the amount of money you deposit in your account to begin saving
money you lose
a type of account that pays a higher interest rate than a savings account
an account with a financial institution

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