A U.S. company would decide to offer its products in other countries as a reason to:

expand to new, untapped markets.

Which is a example of a short-term objective?

finishing a six-week computer software course

Which is a reason why it is important to organize information before preparinga businessreport?

to arrange findings in a logical manner

One reason that has caused the government's role in business to expand is that:

people's attitudes have changed.

Which would probably result if a business reduced its marketing costs?

decreased variety of consumer goods

Which is a true statement about a management information system (MIS)?

Itmay be 1 part ofa business's overall infor. mgmt. program

The primary reason that governments develop workplace health and safety regulations is to:

protect employees from injury and illness.

provides experience that increases the businesscredibility.

Which change provides the most time utility for a consumer?

provides experience that increases the business credibility.

refer to the appropriate publisher's style manual.

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EXAM REVIEW

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Questions 48

Answers

1
A U.S. company would decide to offer its products in other countries as a reason to:
subsidize developing countries.
sell obsolete, outdated products.
expand to new, untapped markets.
provide jobs to people in other countries.
2
One factor that might limit the human resources available for certain jobs is a/an:
organized training program.
good safety record.
appealing company image.
inadequate pay level.
3
In a private enterprise economic system, the interaction of supply &demand primarily determines
government regulation.
economic choices.
the extent of pollution.
product prices.
4
Which is a factor that affects the business environment?
staff organization
conflict negotiation
industry competition
information management
5
What do most businesses use to store information for future use?
scanners
computer systems
display screens
CD-ROMs
6
Which is a example of a short-term objective?
finishing a six-week computer software course
paying off a twenty-five-year mortgage
becoming president of a large corporation
becoming fluent in a foreign language
7
For a business, income remaining after payment of expenses is:
capital.
profit.
loss.
debt.
8
?
a unique individual.
a possible problem.
like most others.
in a hurry.
9
Which is a reason why it is important to organize information before preparinga businessreport?
to identify the target audience
to arrange findings in a logical manner
to investigate the cause of the problem
to understand the purpose of the report
10
Assets a company already owns and can use to finance a new venture are called:
equity.
return on capital.
dividends.
accounts payable.
11
What is one of the most important components of the production process?
inputs and outputs
goods and services
human resources
new technology
12
Some businesses use an automatic reorder system to maintain an adequate:
inventory of supplies.
maintenance system.
work environment.
budget for expenses.
13
Businesses wouldn't be able to determine if they are meeting their financial goals w/o accurate
distribution systems.
accounting systems.
marketing plans.
production plans.
14
In order to be understood on the telephone, a business's employees should always:
speak rapidly.
use technical terminology.
speak from notes.
enunciate clearly.
15
When organizing information to present in a business report, it is effective to:
interpret the data.
determine the purpose.
develop an outline.
remain objective.
16
One reason that has caused the government's role in business to expand is that:
products have become very technical.
people's attitudes have changed.
costs of production have continued to increase.
competition in the marketplace has increased.
17
Which would probably result if a business reduced its marketing costs?
decreased need for customer contact with businesses
decreased variety of consumer goods
increased consumer awareness of goods and services
increased costs of production
18
Which is a true statement about a management information system (MIS)?
It is the same thing as an information management program.
It includes people, processes, and practices.
Itmay be 1 part ofa business's overall infor. mgmt. program
It doesnt assist witha business's infor management program
19
?
$471,350
$368,730
$232,420
$523,820
20
The role of finance in business often involves:
obtaining funds.
paying employees.
monitoring expenses.
buying supplies.
21
?
price fixing
receipt of goods
invoice payment
bid analysis
22
The primary reason that governments develop workplace health and safety regulations is to:
prevent the breach of business information systems.
ensure that employees have access to insurance.
protect employees from injury and illness.
reduce the risk of employment discrimination.
23
?
work
professional
school
peer
24
One factor that might limit the human resources available for certain jobs is a/an:
appealing company image.
good safety record
inadequate pay level.
organized training program.
25
Which is a capability of a presentation software program?
calculating mathematical data
combining animation and sound
connecting several computers
copying and printing documents
26
?
sole proprietorship.
service organization.
limited partnership.
general partnership.
27
Which do managers often set in order to control the work effort?
job standards
expense budgets
diversity quotas
hiring objectives
28
?
safety training.
electronic data interchange (EDI).
weight-loss programs.
supply manuals.
29
The usefulness of a product to consumers is referred to as product:
utility.
allocation.
consumption.
scarcity.
30
?
evaluates the performance of the business's employees.
helps with the day-to-day operations of the business.
assumes all legal responsibility for the business's actions.
provides experience that increases the businesscredibility.
31
A characteristic of a sole proprietorship is that the owner:
delegates all functions.
has access to unlimited funds.
receives all the profit.
transfers all the risk.
32
The formula that is generally used to measure productivity is:
goods divided by time.
inputs divided by labor.
outputs divided by inputs.
labor divided by resources.
33
?
broker
cashier.
bookkeeper.
manager.
34
When businesses invest funds to expand, they are involved in the process of:
finance.
depreciation.
selling.
capitalism.
35
Businesses use the information collected through the accounting process to prepare accurate:
inventory forms.
promissory notes.
purchase orders.
balance sheets.
36
Which change provides the most time utility for a consumer?
assumes all legal responsibility for the business's actions
evaluates the performance of the business's employees.
provides experience that increases the business credibility.
helps with the day-to-day operations of the business.
37
Thegovernment can borrow money from the private sector in order to pay the costof regulation by
issuing bonds.
setting prices.
selling licenses.
raising taxes.
38
?
write an annual report.
develop a short-term advertising campaign.
make long-term decisions.
create sales presentations.
39
The primary reason customers give for not returning to a business is a lack of:
customer-service personnel.
available parking.
courtesy from salespeople.
advertised merchandise.
40
?
identify the readers' preferences.
refer to the appropriate publisher's style manual.
ask his coworker for advice.
look up the information in a current dictionary.
41
According to the marketing concept, which option demonstrates customer orientation?
advertising the features of a product
convincing a buyer to buy
researching a firm's competitors
finding out what a buyer wants
42
What is one of the main reasons why businesses need to keep accurate accounting records?
to control expenses
to eliminate risks
to follow procedures
to regulate taxes
43
Which represents a natural risk for the owner of a delivery service?
rising prices
government intervention
snowstorm
accident
44
?
67
105
31
93
45
Individuals who are able to defend their ideas objectively provide others with:
logical evidence.
personal opinions.
unrelated statistics.
emotional information.
46
?
Amber lets her friends set her goals.
Amber discusses her goals with her parents.
Amber writes her goals down.
Amber thinks about her goals weekly.
47
Which provides government protection of business property?
patents
consumer protection laws
economic incentives
revenues
48
Which is a formatting characteristic of a full-block business letter?
indented first paragraph
no paragraph indents
double-spacing within the paragraph
using a right justification for all paragraphs

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