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Business Management and Administration Quiz 1
Business Management and Administration Quiz 1
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StudBud Administration
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Practices for DECA exam
Flashcards
25 cards
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Questions
25
Answers
1
To contribute to a discussion in a useful way, you should avoid...
Stating opinions and stick to the facts
Talking about what's on your mind
Paying attention when others are speaking
Blurting out statements without thinking
2
Young people often locate their first job in the community by responding to business that have:
Hired employment agencies
Conducted professional searches
Advertised in trade journals
Posted help-wanted signs
3
Which of the following is an advantage of investing in bonds:
You can access your money any time
They are very low risk
They are insured by the FDIC
They offer extremely high rates of return
4
Which of the following agencies regulates false or misleading advertising:
Food and Drug Administration
Legal Aid
Federal Trade Commission
Department of Agriculture
5
Business people are more likely to accept a new idea if the idea will...
Involve a lot of risk
Impact the economy
Improve a situation
Require additional resources
6
Which of the following is a measure of how well a business generates cash flow
Capital structure
Accounts payable
Return on capital
Accounts receivable
7
Which of the following is an example of legal tender issued by the federal government
Municipal bonds
Bank notes
Mutual funds
Corporate bonds
8
Which of the following is a component of verbal communication between individuals:
Body posture
Eye contact
Facial expression
Listening
9
To succeed in business, managers must base their decisions on the
Services offered by competitors
Goals of the company
Projected sales
Needs and desires of consumers
10
As prices go down, the quantity that producers are willing to supply generally
Stays the same
Increases
Creates an excess
Decreases
11
What federal law must business follow when sending updated statements of their account status?
Fair Credit Billing Act
Truth-in-Lending Act
Fair and Accurate Credit Transactions Act
Equal Credit Opportunity Act
12
What communication style is most appropriate to use when you are providing personal advice?
Businesslike
Empathic
Formal
Judgmental
13
Large, nationwide retail chains often use which of the following types of buying systems:
Decentralized
Standardized
Centralized
Specialized
14
Which is a type of financial statement that accountants prepare for a business:
Bank-deposit slip
Sales invoice
Balance sheet
Credit card statement
15
Businesses prefer to hire honest workers because they will
Not cause any problems
Not steal from the business
Say whatever they think
Know how to do their jobs
16
Operations managers have 2 main goals: Efficiency (keeping costs low) and...
Legality (keeping business in good standing with the law)
Effectiveness (keeping customers satisfied)
Reputation (keeping up the business's good name)
Productivity (keeping business running continuously)
17
Quantity of good that producers are able + willing to sell at a price at a given time is
Supply
Quantity sold
Quantity demanded
Demand
18
How do businesses transfer risk?
Obtain insurance
Screen employees
Implement security measures
Check for hazards
19
HR manager is reading resumés to select candidates to interview. What process is he performing?
On-boarding
Negotiating
Screening
Prospecting
20
In a private enterprise economic system, who decides what goods & prices will be on shelves?
Consumers
Businesses
Businesses and consumers
Government and businesses
21
What should you do if you phone a customer and he indicates that you have called at a bad time?
Try to continue the conversation
Offer to schedule a second call
Explain that the call will be short
Ask the customer to call you back
22
A business owned by two or more persons who have unlimited liability is called a...
Cooperative
Corporation
general partnership
Sole proprietorship
23
To determine if her company will pay the tuition for her classes, she should...
Review the production schedule
Submitting a formal proposal
Read the employee handbook
Ask her college counselor
24
Altering personal behavior in order to show enthusiasm requires discipline and
Leadership
Practice
Empathy
Expense
25
Which of the following are capital goods:
Airplanes, minerals, and buildings
Buildings, roads, and equipment
Equipment, land, and minerals
Roads, airplanes, and water