Principles of Business Final Review

Question 1

The Federal Reserve working with the FDIC and Consumer Advisory Council to protect activity is:

Accepted Answer

Supervising and Regulating Financial Institutions

Question 2

Claiming someone else's work as your own is known as

Accepted Answer

Plagiarism

Question 3

The best way to better ensure your chance at getting financing for your business is through:

Accepted Answer

Business Plan

Question 4

What is the primary function of the Equal Employment Opportunity Commission?

Accepted Answer

Fight illegal hiring practices such as discrimination

Question 5

Which of the following correctly identifies the three elements of marketing concept?

Accepted Answer

Customer Satisfaction, Total Company Approach, Profit

Question 6

Recruiting, hiring, training, and evaluating are all tasks involved in the _______ process.

Accepted Answer

Staffing

Question 7

The most basic function of HR is:

Accepted Answer

Recruiting

Question 8

One of the benefits to the 401(k) is that it…

Accepted Answer

Is often matched by the employer

Question 9

Internet service is an example of an:

Accepted Answer

Intangible Service

Question 10

Which of these inventory processes risks the result of not having material to make the product?

Accepted Answer

Just-In-Time Inventory

Question 11

If the resume describes the "product", the cover letter

Accepted Answer

is the sales pitch

Question 12

Targeting the market does all but which of the following?

Accepted Answer

None of the above

Question 13

Roth IRAs are unique in that they

Accepted Answer

Are post-tax funded

Question 14

Which of the following three options are good for helping to discover your future career?

Accepted Answer

Internet Research, O*NET, and Informational Interviews

Question 15

1. Which of the below choices are NOT a required for a contract?

Accepted Answer

Counteroffer

Question 16

Which of the following descriptors is NOT true about money?

Accepted Answer

Is only capable of losing value

Question 17

Informational interviews are good for what specific purpose?

Accepted Answer

Answering questions about a specific job

Question 18

How often should you change your passwords to online accounts and computer access?

Accepted Answer

Once every six months

Question 19

Insurance companies, securities firms, investment banks, and finance companies are examples of:

Accepted Answer

Non-Depository Institutions

Question 20

Which of the following services is particularly helpful to newer businesses?

Accepted Answer

Long-Term Business Loan

Question 21

Businesses need financing for their operations, they need the “5 Cs” of banking. What are they?

Accepted Answer

Cash Flow, Capacity, Capital, Collateral, Conditions

Question 22

Taking set goals and arranging the way to see them reach fulfillment is an example of:

Accepted Answer

Organizing

Question 23

A person who falls behind on payments after receiving credit extensions likely has experienced:

Accepted Answer

Poor Credit Management

Question 24

Texas has a state income tax.

Accepted Answer

False

Question 25

When making investments, how would you increase your chances at success?

Accepted Answer

Diversification

Question 26

Creating a new system for selling a product would be in which section of a business plan?

Accepted Answer

Marketing and Sales Strategies

Question 27

Embezzlement is a type of

Accepted Answer

Human Risk

Question 28

Which of the following actions would likely be a violation of a company’s code of ethics?

Accepted Answer

Keeping interest on company savings account for your gain

Question 29

Which of the following options is an OPTIONAL payroll deduction?

Accepted Answer

Dental Insurance

Question 30

Which of the following is the correct order of the production process?

Accepted Answer

Plan, Purchase, Scheduling, Inventory Control, Qual Control

Question 31

Stockholders can see returns on their investments in the form of _______.

Accepted Answer

Dividends

Question 32

When someone “cuts out the middle man,” they are:

Accepted Answer

Buying directly from a wholesaler or producer

Question 33

Intermediaries serve three functions. What are those functions?

Accepted Answer

Transactional, Logistics, Facilitating

Question 34

Which of the following answers lists the business cycle in the correct order?

Accepted Answer

Trough, Expansion, Peak, Recession

Question 35

Income that is paid as a percentage of sales are known as which of the following?

Accepted Answer

Commission

Question 36

Which of the following would NOT be found in a company credit policy?

Accepted Answer

Repatriation

Question 37

The way a product is used…

Accepted Answer

…is known as its usage

Question 38

Telecommuting allow for employees to

Accepted Answer

Work from home

Question 39

Which of the following correctly identifies all four business functions?

Accepted Answer

Production, Finance, Marketing, Management

Question 40

Money in a savings account demonstrates the ability for money to function as:

Accepted Answer

Store of Value

Principles of Business Final Review

Questions 40

Principles of Business Final Review

Questions 40