ENTR 1500: 2 Preparation for exam 2

Question 1

Motivating employees primarily involves which of the following?

Accepted Answer

Encouraging employee effort and enthusiasm

Question 2

The primary purpose of marketing is to:

Accepted Answer

Identify and satisfy customer needs

Question 3

What is the primary purpose of Customer Relationship Management (CRM) in a business?

Accepted Answer

To track product inventory

Question 4

Which statement provides a snapshot of a company's financial condition at a specific point in time?

Accepted Answer

Balance sheet

Question 5

What term describes the process of dividing the total market into groups with similar characteristics?

Accepted Answer

Market segmentation

Question 6

The financial statement that shows a company’s revenues, expenses, and profits over a period of time is the:

Accepted Answer

Income statement

Question 7

Which of the following is NOT part of the marketing mix?

Accepted Answer

Production

Question 8

Which of the following is an example of a technical skill for a manager?

Accepted Answer

Proficiency in computer software relevant to the job

Question 9

Financial statements are typically used by:

Accepted Answer

Both internal and external stakeholders

Question 10

The process of identifying suitable candidates for employment is called:

Accepted Answer

Recruitment

Question 11

What does human resource management NOT typically include?

Accepted Answer

Conducting market analysis

Question 12

The marketing mix element that deals with distribution is called:

Accepted Answer

Place

Question 13

Accounting can be best defined as the:

Accepted Answer

Process of measuring and summarizing business activities

Question 14

The pricing strategy that sets prices high initially to attract customers who are willing to pay more is called:

Accepted Answer

Skimming

Question 15

Which of the following is a primary function of financial accounting?

Accepted Answer

Summarizing past performance for stakeholders

Question 16

Which of the following is NOT a key purpose of accounting?

Accepted Answer

Ensuring product development

Question 17

Which of the following is an example of an interpersonal skill?

Accepted Answer

Communication with team members

Question 18

What is the primary purpose of managerial accounting?

Accepted Answer

To inform internal decision-making

Question 19

What function involves setting objectives and determining a course of action?

Accepted Answer

Planning

Question 20

What is the benefit of internal recruiting?

Accepted Answer

It boosts employee morale

Question 21

Which managerial function is primarily concerned with arranging resources to carry out the plan?

Accepted Answer

Organizing

Question 22

What is the primary responsibility of a manager?

Accepted Answer

Ensuring effective and efficient operations

Question 23

Job rotation is intended to:

Accepted Answer

Increase job satisfaction by moving employees among different tasks

ENTR 1500: 2 Preparation for exam 2

Questions 23

ENTR 1500: 2 Preparation for exam 2

Questions 23