Unit 3 Test Review

Question 1

In business terms, what is profit?

Accepted Answer

A monetary reward

Question 2

operating expenses is the money spent to run a business

Accepted Answer

True

Question 3

When HR management executives participate in a company’s long-range planning efforts, they are taking part in

Accepted Answer

strategic management

Question 4

Which of the following is a compliance issue:

Accepted Answer

Minimum wage

Question 5

Orientation is an on-boarding activity

Accepted Answer

True

Question 6

Information management can be a challenge because the business world is forever changing

Accepted Answer

True

Question 7

Which of the following behaviors best describes the primary business activity of operations:

Accepted Answer

Producing goods and services

Question 8

Every business must accomplish which of the following:

Accepted Answer

Produce or provide goods/services

Question 9

Which of the following is a true statement about information:

Accepted Answer

It is data put into a useful form.

Question 10

A risk involved with information management is being unprepared for a government

Accepted Answer

audit.

Question 11

To build positive customer relations, a business must be

Accepted Answer

proactive.

Question 12

Janelle opened a new store. In order to successfully operate the new location, Janelle primarily needs

Accepted Answer

additional employees.

Question 13

What is the income when the expenses are $30,000 and the profit is $25,000?

Accepted Answer

$55,000

Question 14

When a stove is used in a restaurant kitchen, it is a

Accepted Answer

Capital Good

Question 15

The operating expenses are $85,000 and the net profit is $110,000. What is the gross profit?

Accepted Answer

$195,000

Question 16

A business can be described as a(n)

Accepted Answer

organized effort to produce goods and services.

Question 17

The first task in the HR management activity of staffing is

Accepted Answer

determining need.

Question 18

President, senior vice president, and chief executive officer are examples of middle management

Accepted Answer

False

Question 19

Human resources are a company’s most important resources because

Accepted Answer

they control all other company resources.

Question 20

Which of the following is a purpose of an exit interview:

Accepted Answer

To gain constructive suggestions for improvement

Question 21

Which of the following behaviors demonstrates the primary business activity of strategic management:

Accepted Answer

Planning and organizing for the future

Question 22

A manager who helps an employee count the money in a cash drawer and prepare a bank deposit is demonstrating

Accepted Answer

technical skills.

Question 23

When the customer’s preference for a business; usually expressed in regular purchases from the business

Accepted Answer

Customer loyalty

Question 24

The main purpose of management is to accomplish the business’s goals

Accepted Answer

True

Question 25

When a business strives to make every customer experience a positive one, it is remembering its touchpoints

Accepted Answer

True

Question 26

Financial analysis occurs when a business

Accepted Answer

keeps accurate expense records.

Question 27

As an employee, you can help your company build positive customer relations by

Accepted Answer

reporting customer feedback.

Question 28

Focused on customer needs and wants in every aspect of the business

Accepted Answer

Customer Centric

Question 29

Making sure that a business has enough of a product in stock without having too much is the goal of Inventory Management

Accepted Answer

True

Question 30

Which of the following is an example of a type of information a business must manage:

Accepted Answer

Accounting records

Unit 3 Test Review

Questions 30

Unit 3 Test Review

Questions 30