stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Principles of Business Exam Review (Part 5) Flashcards | StudBud
Explore
/
Principles of Business Exam Review (Part 5)
Principles of Business Exam Review (Part 5)
29 terms
·
StudBud Administration
·
14 plays
Review questions #139-170
Flashcards
29 cards
F
Practice quiz
P
Host live
L
Questions
29
Answers
1
Which of the following is an example of a demographic trend:
The aging of the population
Shifting political climates
Rising interest rates
A concern for fitness and health
2
A manager who helps an employee count money in a cash drawer and prepare a bank deposit is:
demonstrating technical skills.
demonstrating aggressive behavior.
demonstrating natural talent.
demonstrating creativity.
3
How does appropriate information management affect a business's relationship with customers?
Businesses serve customers more effectively.
Businesses lose focus on customers.
Businesses make better financial decisions.
Businesses earn higher profits.
4
Why is production important to businesses?
It prevents businesses from wasting resources.
It enables businesses to charge high prices.
It creates goods and services businesses can sell.
It informs businesses about consumers' needs and wants.
5
Which of the following are examples of middle-management job titles:
President, senior vice president, chief executive officer
Floor supervisor, area supervisor, section manager
Collections supervisor, crew chief, production supervisor
District manager, department head, regional sales manager
6
Operations managers have two main goals in mind—efficiency (keeping costs low) and
legality (keeping business in good standing with the law).
reputation (keeping up the business's good name).
productivity (keeping business running fast).
effectiveness (keeping customers satisfied).
7
Donut Shop found a cheaper sugar supplier. They won't lower donut prices. What will happen?
Donut sales will decrease.
The profit for donuts will decrease.
The profit for donuts will increase.
Donut sales will increase.
8
Managing information regarding copyrights and trademarks helps a company to preserve its
identity
inventory
customers
correspondence
9
A manager studies prior sales stats and sales forecasts. What resource is the manager using?
Material
Human
Information
Financial
10
When his team exceeded their sales goal, Jay rewarded them with a $500 bonus. This function is:
Directing
Organizing
Planning
Controlling
11
One of the benefits of production to consumers is that production
provides a way to be competitive.
provides a way to earn profits.
creates form utility.
makes use of automation.
12
Complying with environmental laws is part of which operations activity?
Safety and security
Inventory control
Logistics
Purchasing
13
Jon purchases necklaces and sells them to jewelry stores. What kind of buyer is Jeremiah?
Wholesale
Business use
Retail
Industrial
14
Running out of inventory can result in
lost sales.
more satisfied customers.
higher taxes.
higher productivity.
15
The growth of e-commerce is changing the way companies do business by allowing them to
be accessible to customers at all times.
place high prices on their products.
communicate with similar organizations.
reduce the services they provide customers.
16
Efficient production enables businesses to
make an accurate forecast of sales.
obtain advance orders for goods and services.
turn out the most products at the least cost.
charge higher prices than competitors.
17
Which is a detail that a buyer should know prior to placing an order for raw materials?
Whether the company has storage space for the raw materials
Which employees will be using the raw materials
Who will be purchasing the finished products
How the finished product will be marketed
18
Information management can be a challenge because
many people don't understand what it is.
there is often not enough information to manage.
there is only one “right” way to do it.
no one wants to participate in it.
19
Which of the following examples illustrates how environmental factors are interrelated:
D.The economy affects banking institutions.
The economy affects what competitors are doing.
New legislation will be written in the future.
Low investor confidence heavily impacts financial planners.
20
Because operations managers control so much of a business's money, they must focus on
keeping costs low.
hiring the best employees.
generating publicity.
creating effective advertising campaigns.
21
A manufacturer checks 1 pair of pants out of each shipment to ensure quality. This is known as:
delivery.
guarantee.
assurance.
inspection.
22
What trend are businesses considering when analyzing where customers live and their ethnicity?
Demographic
Technical
Environmental
Cultural
23
Jay is buying desks for his business. He sent out a request for price quotes. He is conducting:
negotiations.
competitive bidding.
a make-or-buy decision.
retail buying.
24
Why is routing an important production activity?
Routing establishes company standards.
Routing establishes the production path of inputs.
Routing establishes a timetable for production.
Routing issues orders for production to start.
25
A main reason that environmental scanning is important is so that businesses can be aware of
foreign markets.
competitors' internal environments.
potential threats.
new products.
26
Which of the following is a trend in information management:
Decreased number of electronic documents
Increased compliance laws and regulations
Decreased competition
Increased number of workers in the office
27
A business should conduct environmental scans on a continuous basis so that it can
save money.
control the external environment.
change customers' attitudes.
respond to opportunities and threats quickly.
28
Jon identifies jobs to perform, assigns responsibility, and establishes departments. This is:
Controlling
Planning
Organizing
Directing
29
Appropriate information management saves businesses time and money by
maintaining higher levels of productivity.
increasing “paper trails.”
increasing information overload.
maintaining yearly raises for employees.
