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Principles of Business Exam Review (Part 4) Flashcards | StudBud
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Principles of Business Exam Review (Part 4)
Principles of Business Exam Review (Part 4)
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Review questions #105-138
Flashcards
30 cards
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Questions
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Answers
1
One reason an existing business might develop a company web site is to
increase its product mix.
create a new revenue source.
lower tax rates.
reduce marketing expenses.
2
During the Industrial Revolution, the factory system (manufacturing using machinery) caused
a decrease in production levels.
an increased focus on farming.
raw material costs to increase.
production costs to decrease.
3
After a company training needs are determined, what is the next step in training & development?
Keeping records for personnel files
Dismissing employees who are not up to standard
Managing employee performances
Determining what training resources are available
4
Accounting is distinct from finance because Accounting's main focus is on
administration of assets.
record-keeping activities.
acquisition of funds.
money management decisions.
5
Computer database programs make it easier for businesses to manage
Internet search engines.
customers' buying habits.
large amounts of related data.
problem-solving skills.
6
Which is an example of a business using technology to improve efficiency of its employees:
Accepting debit transactions
Offering ATM machines
Installing video catalogs
Providing laptop computers
7
In recent years, the employment of __________ workers has significantly increased.
manufacturing
agricultural
assembly line
knowledge
8
Overall, what does marketing allow us to do?
Live our daily lives
Limit our spending
Stop buying online
Feel better about shopping
9
In an overall sense, where does marketing occur?
Wherever stores are
Wherever trucks are
Wherever customers are
Wherever advertisements are
10
Identify the term that best represents marketing's role in society.
Pioneer
Problem solver
Peacemaker
Producer
11
Which of the following is a marketing activity:
Leading
Committing
Balancing
Promoting
12
One way that technological innovation has changed business is by decreasing the use of
paper forms.
phone systems.
skilled workers.
fax machines.
13
The overall purpose of accounting is to
keep track of sales.
maintain accurate reports.
compile the business's expenses.
control the finances of the business.
14
As use of information-management grows, its important for businesses to be concerned customers'
level of service.
rights to privacy.
access to credit.
need for information.
15
To reduce time, effort, & cost needed to produce Model T cars, the Ford Motor Company developed
economic utilities.
labor unions.
the factory system.
the assembly line.
16
Which of the following is a key component of managing working capital:
Capital structure
Capital budgeting
Cash conversion cycle
Financing
17
Which of the following is a measure of how well a business generates cash flow:
Capital structure
Accounts receivable
Accounts payable
Return on capital
18
Human resources are a company's most important resources because
they are the least expensive resources.
they control all other company resources.
they are controlled by other company resources.
they are the most expensive resources.
19
Which of the following is a reason that the role of human-resources management is changing:
Employees place greater emphasis on work over personal life.
There is greater diversity in the workforce.
Business costs are going down.
The workforce is younger than ever.
20
In what way might a human resources manager be involved in employee benefits?
Determining insurance eligibility and costs
Choosing an employee's vacation days
Selecting an employee's personal plan options
Collecting insurance payments from employees
21
According to the marketing concept, which option demonstrates customer orientation?
Researching a firm's competitors
Advertising the features of a product
Convincing a buyer to buy
Finding out what a buyer wants
22
How does the finance function relate to company spending?
It spends on investment only.
It does not relate to spending.
It plans and controls spending.
It produces reports about spending.
23
Why is a good accounting system important to a business?
It increases the return on investment.
It shows the business how it is doing.
It prevents any financial losses.
It gives the business an image of success.
24
Labor-union negotiations are part of which HR management activity?
Compensation and benefits
Training and development
Employee relations
Staffing
25
What's a way that the trend of protecting the environment has a negative effect on businesses?
Increases costs
Promotes growth
Decreases prices
Reduces pollution
26
In late 1800s, market domination by a small number of extremely large companies led to the
specialization of labor.
passage of antitrust laws.
popularity of laissez-faire.
development of labor unions.
27
The finance function would definitely be involved in a decision regarding
new business projects and strategies.
hiring.
personal selling.
public relations and publicity.
28
In order for an accounting system to be useful, the accounting information it contains must be
accurate and up-to-date.
approved by the chief executive officer.
recorded using the accrual method.
posted by an accountant.
29
To keep current customers KMV Co. lowered prices. What
external
factor may cause this action?
Operating cost increases
Production line improvements
Changes in consumer spending
Comprehensive employee training programs
30
One reason it is important for businesses to identify and respond to current trends is to
remain competitive.
control performance.
improve motivation.
encourage feedback.
