Operations managers have two main goals in mind—efficiency (keeping costs low) and

effectiveness (keeping customers satisfied).

Which of the following is a follow-up activity in production:

Making sure that production deadlines were met

Which of the following is a true statement:

Bookkeeping records business transactions.

Appropriate information management saves businesses time and money by

maintaining higher levels of productivity.

What is an acceptable reason to select a supplier offering the best value vs. the lowest price?

The lowest priced product is of inferior quality.

The creation of goods and services from economic resources

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Business To The Rescue!

20 termsStudBud Administration43 plays

#HSBLongmont #Business Activities

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Questions 20

Answers

1
Making sure a company follows laws and regulations describes the HR management activity of
compensation and benefits.
staffing.
compliance.
employee relations.
2
Operations managers have two main goals in mind—efficiency (keeping costs low) and
reputation (keeping up the business’s good name).
legality (keep the business in good standing with the law).
productivity (keeping business running fast).
effectiveness (keeping customers satisfied).
3
Which of the following is a follow-up activity in production:
Estimating the number of steps in the production process
Making sure that production steps follow proper sequence
Projecting sales for the company’s products
Making sure that production deadlines were met
4
Which of the following is a true statement:
Bookkeeping is the same as accounting.
Bookkeeping records business transactions.
Bookkeeping is limited to information on sales.
Bookkeeping does not use computers.
5
Who is responsible for purchasing the material resources for workers to use in doing their job?
Top-level managers
Supervisory managers
Middle managers
First-line workers
6
Appropriate information management saves businesses time and money by
maintaining yearly raises for employees.
increasing paper trails.
maintaining higher levels of productivity.
increasing information overload.
7
Who is responsible for information management?
Everyone in the organization
The chief executive officer
The information management department
An information technology manager
8
What was the combined score of the homecoming football game?
64
54
61
60
9
Which of the following business trends affects HR management:
Globalization
Lack of new technology
Costs of business going down
No restructuring
10
Operations activities vary depending on a business’s ________.
product
tax return
address
capital
11
Doormats, carpeting, telephones, and cleaning chemicals are items that an office might buy for
negotiations.
business use.
competitive bidding.
production.
12
A business that exists to fulfill a specific mission or undertaking is called a(n)___ business.
nonprofit
focused
mission central
for-profit
13
Finance is distinct from accounting because its main focus is on
accounting.
financing.
spending.
investments.
14
Which of the following is a step in the purchasing process:
managing the sales force
buying a Ferrari
initiating promotion
identifying needs
15
Marketing is described as creating
gaps.
exchanges.
advertisements.
needs.
16
The process of keeping the financial records of a business is known as
accounting
penny pinching
financing
information management
17
What is an acceptable reason to select a supplier offering the best value vs. the lowest price?
The supplier with the best value is offering a kickback.
The lowest priced supplier doesn’t need the business.
The lowest priced product is of inferior quality.
The supplier offering the best value is a good friend.
18
Why do all businesses need financial resources?
To develop cash budgets
To negotiate bank loans
To manage investment accounts
To pay operating expenses
19
In an overall sense, where does marketing occur?
wherever customers are
wherever stores are
wherever businesses are
wherever advertisements are
20
What is production?
The process of assembling the factors of production
The creation of goods and services from economic resources
The selection of inputs for making outputs
The conversion process that results in time utility

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