Businesses often use word-processing computer software to produce:

detailed reports, memos and contracts

Information management can be a challenge because:

many people do not understand what it is

Asking questions in an open minded way means

asking questions that keep the discussion going

Which question should be answered by the purchasing function?

How much merchandise should we buy

A U.S. company would decide to offer its products in other countries as a reason to:

expand to new, untapped markets

Which is a true statement about a management information system (MIS)?

it can be part of an overall information management system

studbud

Duplicate of Principles Of Business NC FINAL REVIEW

85 termsStudBud Administration27 plays

A #principlesofbusiness review for the #NCfinal test.

Flashcards85 cardsFPractice quizPHost liveL

Questions 85

Answers

1
employees who are learning new skills should take the time to practice the skills and avoid:
personal leave
shortcuts
vacations
rest breaks
2
The desire for which items is an economic want
friendship
new clothes
a nap
a walk
3
Following a business employee to obtain information about that career is an example of:
serving an internship
volunteering
personal interviewing
job shadowing
4
When organizing information to present in a business report, it is effective to:
develop an outline
remain objective
determine the purpose
interpret the data
5
What do businesses develop to store and analyze data for making business decisions?
management policies
operating procedures
information systems
survey methods
6
Why do many businesses store information in a computerized database?
to communicate with vendors
to maintain client lists
to transmit documents
to monitor economic trends
7
Which processes turn economic resources into goods and services?
marketing
production
distribution
promotion
8
In a sole proprietorship the owner:
delegates all functions
has a board of directors to help make decisions
transfers all risk
receives all the profit
9
For a business, income remaining after payment of expenses is:
loss
capital
debt
profit
10
The newly redesigned Toyota Corolla is an example of:
paradigm innovation
process innovation
product innovation
position innovation
11
A business selects goods or services to sell. Which type of risk is this business using?
controlling
bypassing
transferring
avoiding
12
Managers who can see the big picture are using __________ skills.
interpersonal
technical
conceptual
managerial
13
Electronic planning device that employees use to keep track of their activities is a:
web-based program
communication system
presentation application
time-management tool
14
Many presentation software programs allow users to:
design organizational charts.
publish web pages.
copyright their graphics.
include voice narration.
15
What type of software program would a business use to analyze its expenses and level of sales?
spreadsheet
database
communication
presentation
16
Businesses often use word-processing computer software to produce:
research reports, spreadsheets, and tables
business plans, contracts, and spreadsheets
complex graphics, letters, and reports
detailed reports, memos and contracts
17
A business selling winter holiday decorations in late autumn is creating what type of utility?
time
form
possession
place
18
An employee who is continually teased and made fun of by a supervisor is a victim of:
intolerance
partiality
harassment
criticism
19
Information management can be a challenge because:
there is only one "right" way to do it
no one wants to participate
there isn't enough information to manage
many people do not understand what it is
20
The reason businesses obtain information usually is to apply it in order to:
determine a need
accomplish a task
evaluate a source
develop a database
21
Which type of software program would an employee use to prepare a form letter?
word processing
spreadsheet
database
presentation
22
Which is a characteristic of human resources management?
scheduling the work
evaluating supervisors
working with people
developing leaders
23
The primary reason businesses benefit when salespersons practice good customer relations is:
it develops repeat customers
it prevents customer objections
it segments the business's market
it promotes quality service
24
If there wasn't marketing, what would happen to our daily lives?
there would be more goods for us to buy
economy would prosper
we wouldn't own as much
we'd buy more
25
When businesses formalize information provided 2 employees they use which type of communication
upward
lateral
verbal
written
26
What type of communication style is usually appropriate for evaluation with employees?
formal
routine
technical
casual
27
Which do managers often set in order to control the work effort?
expense budgets
hiring objectives
diversity quotas
job standards
28
Why is it important for employees to follow instructions when using equipment and machinery?
to minimize loss
to decrease overtime
to speed up production
to increase output
29
Which is an umbrella term referring to any type of Internet transaction?
website
e-business
URL
e-commerce
30
When asked questions during an employment interview, applicants should:
nod in agreement
answer in full
say "yes" or "no"
change the subject
31
In order to be understood on the telephone, a business's employees should always:
use technical terminology
enunciate clearly
read from the script
speak as quickly as possible
32
Asking questions in an open minded way means
asking questions that keep the discussion going
demanding that your idea is best
asking yes or no questions
attacking someone else's idea
33
What is one of the most important components of the production process?
goods and services
new technology
inputs and outputs
human resources
34
Which is an external factor that affects market price?
location of items in the store
number of items in stock
available credit terms
consumer buying power
35
To determine if a budget is meeting financial goals they need
distribution systems
marketing plans
accounting systems
production plans
36
Which question should be answered by the purchasing function?
How can we inform customers of available merchandise
How much merchandise should we buy
How can we protect merchandise from pilferage
How will merchandise be shipped to us
37
When an object becomes more limited it refers to the products __________.
allocation
scarcity
utility
consumption
38
What production activity evaluates products to make sure they meet certain quality standards?
standardization
automation
form utility
follow-up
39
Computer database programs make it easier for businesses to manage:
problem solving skills
customer's buying habits
internet search engines
large amounts of related data
40
Which is a benefit of putting one's goals in writing?
makes the goals attainable
clarifies the goals
develops one's perseverance
provides a challenge
41
Entry-level positions provide employees with:
high salaries
few advancement opportunities
limited training
basic job experience
42
Which is a standard capability of spreadsheet software?
to manage files
to create slides
to graph data
to prepare text
43
Individuals who are able to defend their ideas objectively provide others with:
emotional information
personal opinions
logical evidence
unrelated statistics
44
Monitors, keyboards, and hard drives are examples of computer:
standards
language
hardware
networks
45
Which is the most efficient tool for gathering the external information that businesses need?
library
text books
internet
software
46
The primary reason customers give for not returning to a business is a lack of:
courtesy from sales people
customer-service personnel
available parking
advertised merchandise
47
An important problem-solving skill for individuals to have is the ability to be:
objective
judgemental
economical
aggressive
48
A U.S. company would decide to offer its products in other countries as a reason to:
expand to new, untapped markets
sell obsolete, outdated products
subsidize developing countries
provide jobs to people in other countries
49
Which is a true statement about a management information system (MIS)?
it is the same thing as the information management system
it includes people, processes, and practices
it does not assist the information management system
it can be part of an overall information management system
50
information management is to provide businesses with the strategic information they need to:
develop a short-term marketing campaign
create sales presentations
write an annual report
make long-term decisions
51
Employees who have innovation skills are able to:
react to problems
socialize effectively
think in new ways
behave aggressively
52
Which is a capability of a presentation software program?
combining animation and sound
calculating mathematical data
copying and printing documents
connecting several computers
53
The marketing concept is focused on which part of the business?
advertising
profit
sales
customers
54
One way a business can reduce the risk of accidents at work is by providing its employees:
supply manuals
weight loss programs
safety training
electronic data interchange
55
Businesses that write letters to confirm their orders make sure that the letters contain:
product ratings and grades
a map of all business locations
all the necessary information
exchange rates
56
Another term for the debts a company is carrying is __________.
equity
assets
dividends
liability
57
How frequently should the operations function, which consists of activities, be performed?
daily
monthly
yearly
weekly
58
Why should businesses keep accurate accounting records?
to regulate taxes
to follow procedure
to be able to apply for credit
to eliminate risks
59
Which industry exists to protect individuals and businesses from financial losses?
insurance
marketing research
accounting
operations management
60
A business where owners all have full liability is known as a ________ __________
limited partnership
sole proprietorship
non-profit organization
general partnership
61
Which is an example of a textual graphic that is used in a business report?
pie chart
pictograph
flowchart
map
62
Which is a formatting characteristic of a full-block business letter?
double spacing
no paragraph indents
using a right justification for all paragraphs
indented first paragraph
63
A major characteristic of a market economy is which type of ownership of property?
government
limited
monopolistic
private
64
Which is an example of an employee maintaining a safe work environment?
Kaylee trips over the computer wires that are on the floor
William follows the rules when operating heavy equipment.
Steve takes the elevator instead during a fire drill.
Anna fails to tell her supervisor the caution light is on
65
The role of accounting in business often involves:
tracking income and expenses
obtaining funds
paying employees
buying supplies
66
A reason why businesses are required to keep accident records is for:
insurance purposes
Social Security Act
Good Samaritan Law
personal liability
67
When e-mailing large files or documents to coworkers or customers, a businessperson sends them:
in codes
in text boxes
as attachments
as reply messages
68
Why is it often important to take notes during meetings or presentations?
writing keeps the mind focused.
the audience needs something to do.
the speaker is difficult to understand.
this information will be needed later.
69
The primary reason that governments develop workplace health and safety regulations is to:
protect employees from injury and illness
reduce the risk of discrimination
ensure employees have access to insurance
prevent the breach of information systems
70
Businesses assess their information needs to determine the information that will help them with
specific problems
personal relationships
ethical issues
job applicants
71
The basic role of the United States government is to:
maintain control of prices
limit business startups
increase production
protect U.S. citizens
72
Why is it important for businesses to store information for future use?
to establish quality control
to make it accessible
to interpret data
to protect it from overuse
73
Which is not a tool that people use when participating in discussions?
building on someone else's comment
sharing personal experience
pointing out missing information
helping the group summarize what has been said
74
All calls coming into a business should end as pleasantly as possible in order to:
leave a good last impression with callers.
help an employee get a good review.
provide callers with accurate information.
make the best use of an employee's time.
75
What do most businesses use to store information for future use?
CD-ROMs
display screens
computer systems
scanners
76
Which type of business ownership sells stocks?
corporation
partnership
cooperative
proprietorship
77
Which is an example of a person obtaining unpaid work experience?
Jim hires Kevin to cut his lawn every week
Kelly volunteers at a local radio station
Sarah researches information about different careers
Ben performs contract work for his friend's company
78
Which factor has aided the most in creating a global business environment?
cultural change
exchange rate
technology
government
79
Why do many businesses expect their employees to do their jobs according to strict guidelines?
to exhibit loyal behavior
to show an interest in work
to create a safe environment
to develop an enthusiastic attitude
80
To explain their ideas objectively to others, individuals need to have which effective skills?
technical
verbal
reading
computer
81
Which is a way that businesses often use database software programs?
to prepare promotional material
to organize vendor information
to diagram work schedules
to calculate weekly payroll
82
The following information appears at the end of all of Molly"s outgoing e-mails:
etiquette
carbon copy
attachment
signature
83
Employees can develop positive customer relations if they understand that each customer is:
a unique individual
in a hurry
like most others
a possible problem
84
One reason an existing business might develop a company web site is to:
increase its product mix
lower tax rates
reduce marketing expenses
create a new revenue source
85
Which is the best source of information about job leads?
business advisors
Bureau of Labor Satistics
family and friends
Occupational Outlook Handbook

Duplicate of Principles Of Business NC FINAL REVIEW Flashcards | StudBud