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Buiseness Studies - Part 4
1
of
25
💡
Hints:
3
Q1. Person-to-person, in-house, communication is best done with a
A. quick memo
B. formal letter
C. personal letter
D. business proposal
Q2. An asset that people put money into hoping it will grow into a larger sum of money over time
A. opportunity cost
B. financial investment
C. incentive
Q3. What are 3 reasons for international trade?
A. labour specialization
B. income levels
C. climate differences between regions
D. All of the above
Q4. The process whereby younger employees help members of an older generation understand differences is called
A. Mentoring
B. Reverse mentoring
C. Reverse training
D. None of these
Q5. Does inflation resgult in a decline in the purchasing power of money? n
A. Yes
B. No
Q6. Emphasizing customer service can help a business to be more
A. innovative
B. competitive
C. objective
D. possessive
Q7. Which of the following has the highest position in the company?
A. Regional Manager
B. Directors
C. CEO
D. workers
Q8. A panel of eighteen citizens that is randomly drawn from the same pool as those selected for jury duty for a trial.
A. Grand Jury
B. Initial Bail
Q9. Which part of the business plan describes how the business has solved the problems?
A. Statement of Vision
B. The Marketing Plan
C. The Problem Need
D. Production/Technical Plan
Q10. A written document that describes in details how a new business is going to achieve its goals is called business
A. idea
B. opportunity
C. strategy
D. plan
Q11. People who are part owners of a company are known as
A. Stakeholders
B. Shareholders
C. Customers
D. People
Q12. It is a form of instruments that publicly- traded short-term investments.
A. Cash transactions
B. Money Market securities
C. Financial Market
D. Financial Reporting
Q13. In order for a contract to be enforceable it must have
A. offers
B. acceptance
C. consideration
D. legal purpose
Q14. This function must be completed f irst; sets objectives and makes long and short term plans for meeting objectives
A. Planning
B. Controlling
C. Organizing
D. Staffing
Q15. During a long period of economic growth, which of the following statements is likely to be correct?
A. Manufactures of essential products may try to develop a range of income elastic goods
B. Retailers will often reduce the price of products to try to reverse falling consumer demand
C. Manufacturers of income elastic products will cut back on production
D. The number of entrepreneurs setting up new businesses is likely to fail
Q16. Which one of following is not a function of money.
A. As a measure of value.
B. As a storage of value.
C. As a methods of differed paymentr.
D. Having a common acceptance.
Q17. Which of the following is a primary staffing consideration when a manager decides to hire a new employee?
A. communication methods
B. investment goals
C. necessary skills
D. reimbursement procedures
Q18. The process of developing, installing, and implementing computer information systems and applications. IT includes the support and maintenance of computer hardware and software.
A. Information Technology
B. Computers
C. Internet
D. Human Resources
Q19. Occurs when an individual’s or company’s actions result in an unfair benefit.
A. social responsibility
B. conflict of interest
C. public utility
D. antitrust laws
Q20. Which of the following is NOT usually considered a personal source of finance.
A. Savings
B. Redundancy payments
C. Crowdfunding
D. Credit card
Q21. Another name for Intermediaries is
A. Supplier
B. Consumer
C. Middle Man
D. Regulator
Q22. white collar worker
A. jobs that have been traditionally held by women
B. person whose work requires professional training and knowledge
C. the person who decides how to combine land, labor, and capital to make new goods and services
D. a person who performs manual labor
Q23. What challenges does an entrepreneur face?
×
A. money
B. responsibility
C. paperwork
D. all of the above
Q24. In arbitration, the parties ___ their own solutions while in meditation, the parties ___ their own solution.
A. Do not create, create
B. Create, do not create
Q25. Which of the following means of transportation requires rail tracks for it movement?
A. Airplane
B. Canoe
C. Ferry boat
D. Train
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