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Functions of Business Review Flashcards | StudBud
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Functions of Business Review
Functions of Business Review
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Review for Functions of Business Test
Flashcards
28 cards
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Practice quiz
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Questions
28
Answers
1
Marketing Information Management
is research about customers, trends, and competing products
False
True
2
Which is not a function of business?
Customer Satisfaction
Marketing
Production/Procurement
Finance/Accounting
3
What is the process of deciding how to get goods into customer’s hands?
None of the Above
Channel Management (Distribution)
United States Postal Service
Transportation Services
4
Selling
provides customers with the goods and services they want.
False
True
Tralse
Frue
5
There are five purposes to Production/Procurement.
False
True
6
Product/Service Management
works with improving products.
Frue
Tralse
True
False
7
Agents are involved in Channel Distribution for D and E.
Tralse
Frue
True
False
8
Purchasing Dept. does what?
spend $; you can't take it with you
responsible for stocking and re-stocking
monitors quality and quantity
responsible for providing materials for production
9
Market Planning is
understanding concepts/strategies used to develop/identify a target market
Tralse
Frue
True
False
10
Production/Planning Dept. does what?
None of the Above
monitors quantity and quality and sets targets/goals
monitors only quantity
monitors only quality
11
Stores are responsible for doing what?
Marketing/Finance
Research and Design
Stocking necessary tools, equipment, and raw materials
Making $
12
Money Out is Accounts Receivable.
True
Frue
False
Tralse
13
Being able to lead is the most important aspect of management.
True
Some of the Above/None of the Above
All of the Above
False
14
Pricing
is how much to charge for goods and services in order to make a profit.
False
Frue
Tralse
True
15
Distribution Channel A is...
Manufacturers/Producers to Consumers
Manufacturers/Producers to Retailers to Agents to Consumers
Manufacturers/Producers to Retailers to Consumers to Agents
Manufacturers/Producers to Retailers to Consumers
16
Distribution Channel C is...
Manufacturers/Producers- Wholesalers-Retailers-Consumers
Manufacturers/Producers-Retailers-Wholesalers
Manufacturers/Producers-Retailers-Consumers
Manufacturers/Producers-Retailers-Consumers
17
Reporting
is preparing financial reports, e.g. P&L, Balance sheets and budgets.
Tralse
True
Frue
False
18
The purpose of financial controlling is to embezzle as much moolah as possible.
Yep
Nope
19
The four purposes of management are...
Controlling, Leading, Organizing, Planning
Planning, Organizing, Scheduling, Receiving
Receiving, Organizing, Buying, Scheduling
Leading, Controlling, Planning, Buying
20
Wholesalers are involved in Channel Distribution E.
False
Tralse
True
Frue
21
Distribution Channel B is...
Manufacturers/Producers to Retailers to Consumers
Manufacturers/Producers to Agents to Consumers
Manufacturers/Producers to Consumers
Manufacturers/Producers to Retailers to Agents to Consumers
22
Money In is Accounts Payable.
Tralse
False
Frue
True
23
Design Dept. is responsible for...
Research only
None of the Above
Research, testing, and modifying new/existing products
Stocking all necessary tools, equipment, and raw materials
24
Wholesalers are involved in Channel Distribution D.
Frue
False
True
Tralse
25
Works Dept. is responsible for...
Research and Design
All of the Above
Stocking necessary equipment, tools, and raw materials
Manufacturing the product(s)
26
Which is not a function of business?
Management
Finance/Accounting
Economics
Production/Procurement
27
Payroll is NOT part of Finance/Accounting.
False
True
Tralse
Frue
28
What is promotion?
supplying a new product
effort to persuade customer to buy
inflation
providing a new product
