Marketing Research Process Quiz Questions
Questions and Answers
- 1.
A disadvantage of a general partnership is that each partner
- A.
Is liable for the business's losses.
- B.
Invests the same amount of capital
- C.
Performs limited management duties.
- D.
Has responsibility for preparing the annual report
Correct Answer
A. Is liable for the business's losses.Explanation
In a general partnership, each partner is personally liable for the business's losses. This means that if the business incurs debts or legal obligations, each partner is responsible for them, regardless of their personal investment or level of involvement in the management of the business. This can be a significant disadvantage as it exposes each partner's personal assets to potential financial risk and can lead to financial hardship if the business experiences losses or fails.Rate this question:
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- 2.
In a market economic system, it is often unlawful for businesses to participate in distribution activities that
- A.
Control profit margins
- B.
Restrain free trade
- C.
Maintain a competitive environment
- D.
Encourage importing and exporting
Correct Answer
B. Restrain free tradeExplanation
In a market economic system, businesses are typically not allowed to engage in distribution activities that restrain free trade. This means that businesses cannot engage in practices that limit competition or hinder the free flow of goods and services in the market. This is because free trade is considered essential for a healthy and competitive market environment, where businesses can freely compete and consumers have access to a wide range of choices. Restraining free trade can lead to monopolies or unfair advantages for certain businesses, which goes against the principles of a market economic system.Rate this question:
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- 3.
Shelley has a $25 gift certificate and is having difficulty making a choice between a sweater and a pair of earrings. If she chooses the sweater, what is the opportunity cost of this decision?
- A.
Sweater
- B.
Earrings
- C.
$25
- D.
Gift Certificate
Correct Answer
B. EarringsExplanation
The opportunity cost of choosing the sweater over the earrings is the value or benefit that Shelley would have gained from choosing the earrings instead. In this scenario, the opportunity cost is the value of the earrings, which is $25. By choosing the sweater, Shelley is forgoing the opportunity to have the earrings, which she could have obtained using the gift certificate.Rate this question:
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- 4.
A country's easy monetary policy is often used to correct the problem of
- A.
Unemployment
- B.
High Taxes
- C.
Globalization
- D.
Import Quotas
Correct Answer
A. UnemploymentExplanation
A country's easy monetary policy refers to the central bank's decision to lower interest rates and increase the money supply in order to stimulate economic growth. This is done to address the issue of unemployment, as easy monetary policy encourages borrowing and investment by businesses, leading to increased economic activity and job creation. Therefore, the correct answer is unemployment.Rate this question:
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- 5.
Is it appropriate for job applicants to ask the business to let them know when the business makes a decision about filling a job?
- A.
No, the business should not give out this information
- B.
Yes, this request can be included in a follow-up letter
- C.
No, the business will notify them without being asked.
- D.
Yes, this should be the applicants' first question
Correct Answer
B. Yes, this request can be included in a follow-up letterExplanation
It is appropriate for job applicants to ask the business to let them know when the business makes a decision about filling a job because it shows their continued interest in the position and their desire for timely feedback. Including this request in a follow-up letter allows the applicant to maintain open communication with the business and ensures that they are aware of the decision-making process.Rate this question:
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- 6.
Which of the following benefits of warranties and guarantees would benefit customers rather than businesses:
- A.
Availability of service information
- B.
Establishment of clear standards
- C.
Increased profits
- D.
Customer feedback
Correct Answer
A. Availability of service informationExplanation
Availability of service information benefits customers rather than businesses because it allows customers to have access to detailed information about the services provided, which helps them make informed decisions. This benefit ensures that customers are aware of what they can expect from the product or service, enabling them to utilize it effectively and troubleshoot any issues that may arise. In contrast, businesses may view this benefit as a potential risk, as it requires transparency and accountability in their service delivery, potentially leading to increased costs or customer dissatisfaction.Rate this question:
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- 7.
Which of the following is a product-related problem about which consumers have complained to government officials:
- A.
Lack of product brands
- B.
Lack of product information
- C.
Lack of product promotion
- D.
Lack of product technology
Correct Answer
B. Lack of product informationExplanation
Consumers have complained to government officials about the lack of product information. This means that consumers have expressed concerns or grievances to government authorities regarding the insufficient or inadequate details provided about a particular product. This could include issues such as missing or misleading labeling, incomplete product descriptions, or a lack of information about potential risks or side effects.Rate this question:
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- 8.
Which of the following is a characteristic of good visions:
- A.
Permanent results
- B.
Concrete situations
- C.
Complicated ideas
- D.
Expensive processes
Correct Answer
A. Permanent resultsExplanation
A characteristic of good visions is that they lead to permanent results. Good visions are not temporary or short-term solutions, but rather long-lasting and impactful. They aim to create lasting change and improvements in a particular area. By focusing on permanent results, good visions ensure that the efforts and resources invested in achieving the vision are not wasted and have a lasting positive effect.Rate this question:
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- 9.
The operations manager schedules quarterly reviews of office equipment whether there have been recent problems or not. This is an example of
- A.
Safety precautions.
- B.
Preventive maintenance.
- C.
Installation.
- D.
Corrective maintenance.
Correct Answer
B. Preventive maintenance.Explanation
The given scenario describes the practice of scheduling quarterly reviews of office equipment, regardless of whether there have been recent problems or not. This approach aims to prevent any potential issues or breakdowns by proactively inspecting and maintaining the equipment. It falls under the category of preventive maintenance, which involves regularly scheduled tasks to keep equipment in good working condition and prevent unexpected failures.Rate this question:
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- 10.
What type of market exists when a large supply of a product and a small demand have resulted in low prices?
- A.
Monopolistic
- B.
Productive
- C.
Buyer's
- D.
Competitive
Correct Answer
C. Buyer'sExplanation
A buyer's market exists when there is a large supply of a product and a small demand, resulting in low prices. In this type of market, buyers have the advantage as they have more options to choose from and can negotiate lower prices. This is the opposite of a seller's market, where there is high demand and low supply, giving sellers the advantage to set higher prices.Rate this question:
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- 11.
Which of the following is an example of an economic activity:
- A.
Buying new company equipment
- B.
Conducting a meeting
- C.
Complimenting a coworker
- D.
Developing an advertising budget
Correct Answer
A. Buying new company equipmentExplanation
Buying new company equipment is an example of an economic activity because it involves the purchase of a tangible asset that is expected to generate future economic benefits for the company. This activity involves the allocation of resources (money) to acquire the equipment, which is a fundamental aspect of economic decision-making. Additionally, the purchase of new equipment can contribute to the growth and productivity of the company, making it a key economic activity.Rate this question:
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- 12.
An economy with a high unemployment level tends to have
- A.
A high supply of money.
- B.
Fewer monetary policies.
- C.
Rapid GDP growth.
- D.
A lower rate of inflation.
Correct Answer
A. A high supply of money.Explanation
An economy with a high unemployment level tends to have a high supply of money because when people are unemployed, they have less income and therefore less purchasing power. This leads to a decrease in demand for goods and services, causing businesses to reduce their prices in order to attract customers. In response, the central bank may increase the money supply to stimulate economic activity and encourage spending. This increase in the money supply can help to alleviate the high unemployment level by providing individuals and businesses with more liquidity to invest and spend.Rate this question:
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- 13.
Which of the following is a product-related problem about which consumers have complained to government officials:
- A.
Lack of product brands
- B.
Lack of product information
- C.
Lack of product promotion
- D.
Lack of product technology
Correct Answer
B. Lack of product informationExplanation
Consumers have complained to government officials about the lack of product information. This suggests that consumers are not receiving sufficient details or specifications about the products they are purchasing. This can lead to confusion, dissatisfaction, and potential harm if consumers are unaware of any potential risks or hazards associated with the product. It is important for consumers to have access to accurate and complete information in order to make informed decisions and protect their rights.Rate this question:
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- 14.
The president of the Acme Company identifies the jobs to be accomplished and assigns responsibility for completing those jobs to specific departments. What management function is the president performing?
- A.
Planning
- B.
Organizing
- C.
Staffing
- D.
Controlling
Correct Answer
B. OrganizingExplanation
The president of the Acme Company is performing the management function of organizing. Organizing involves determining the tasks that need to be done and assigning responsibilities to specific departments or individuals. In this case, the president is identifying the jobs that need to be accomplished and assigning them to specific departments, which is a key aspect of the organizing function.Rate this question:
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- 15.
An environmental factor that would be specific to a particular business is the
- A.
Advancing technology
- B.
Economy
- C.
Local demographics
- D.
Market
Correct Answer
D. MarketExplanation
The market refers to the specific group of consumers or target audience that a business caters to. It includes factors such as consumer preferences, buying behavior, competition, and demand for the products or services offered by the business. This factor is specific to a particular business as each business operates in a unique market with its own characteristics and dynamics. The market factor influences various aspects of the business, including pricing, product development, marketing strategies, and overall business growth.Rate this question:
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- 16.
In a weekly staff meeting, Morgan presents a set of new procedures that she believes will improve the department's productivity levels. Jacob disagrees with Morgan's approach and provides an alternative for improvement. Although Morgan agrees with a couple of Jacob's points, she still thinks her plan will be better for the company in the long run. How can Morgan effectively defend her idea for improvement?
- A.
Tell Jacob that most of his ideas are weak and restate her suggestions
- B.
Present supporting research for her suggestions in an unbiased way
- C.
Request that the group meet again, so she has time to come up with new ideas
- D.
Ask the other members of the group for their input and ideas
Correct Answer
B. Present supporting research for her suggestions in an unbiased wayExplanation
Morgan can effectively defend her idea for improvement by presenting supporting research for her suggestions in an unbiased way. By providing evidence and data that backs up her proposed procedures, Morgan can demonstrate the potential benefits and effectiveness of her plan. This approach allows her to present a logical and objective argument, which can help to persuade others, including Jacob, of the validity and value of her ideas.Rate this question:
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- 17.
Juan Rodriguez signed a promissory note for a loan. In this credit arrangement, Juan is the
- A.
Lender.
- B.
Creditor.
- C.
Borrower.
- D.
Depositor.
Correct Answer
C. Borrower.Explanation
In this credit arrangement, Juan Rodriguez signed a promissory note for a loan, indicating that he is the borrower. The borrower is the individual who receives the loan and is obligated to repay the borrowed amount, along with any agreed-upon interest, to the lender. Therefore, Juan Rodriguez is the borrower in this scenario.Rate this question:
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- 18.
Which of the following is demographic information that businesses might monitor when making marketing decisions:
- A.
Traits
- B.
Opinions
- C.
Income
- D.
Values
Correct Answer
C. IncomeExplanation
Businesses might monitor income as demographic information when making marketing decisions because it helps them understand the purchasing power and spending habits of their target audience. Income level can indicate the affordability of products or services, allowing businesses to tailor their marketing strategies accordingly. By analyzing income data, businesses can identify potential customers who are more likely to be interested in their offerings and adjust their pricing or promotional tactics to effectively reach and engage this specific demographic segment.Rate this question:
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- 19.
The scope of the Internet can be described as
- A.
Regional.
- B.
Secure.
- C.
Worldwide.
- D.
Proprietary.
Correct Answer
C. Worldwide.Explanation
The correct answer is "worldwide" because the Internet is a global network that connects millions of devices and allows people from all over the world to communicate, share information, and access resources. It transcends geographical boundaries and is accessible to anyone with an internet connection, regardless of their location.Rate this question:
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- 20.
Which of the following is an example of how a business or industry has a unique relationship with its environment:
- A.
New technology causes new laws to be enacted.
- B.
An economy in prosperity will eventually experience recession.
- C.
Social and cultural attitudes change over time.
- D.
Demand for skilled nursing care rises as the population ages.
Correct Answer
D. Demand for skilled nursing care rises as the population ages.Explanation
The demand for skilled nursing care rising as the population ages is an example of how a business or industry has a unique relationship with its environment. This is because the aging population directly affects the demand for skilled nursing care services. As the population gets older, there is a greater need for healthcare services, including nursing care. This creates a specific market demand for skilled nursing care providers, making it a unique relationship between the business/industry and the environmental factors such as demographics and population trends.Rate this question:
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- 21.
Julianne is going to a chamber-of-commerce luncheon where she will meet several important business leaders in her community. What is the most appropriate clothing for Julianne to wear?
- A.
Black, sequin dress; short jacket; and high-heel shoes
- B.
Colorful blouse, short skirt, and sandals
- C.
Casual pants, long-sleeve t-shirt, and athletic shoes
- D.
Dark pantsuit, blouse, and low-heel shoes
Correct Answer
D. Dark pantsuit, blouse, and low-heel shoes -
- 22.
Businesses hope that individuals who are favourably impressed with the business will tell others about it so that the business will receive __________ publicity.
- A.
Specialty
- B.
Sponsored
- C.
Word-of-mouth
- D.
Point-of-purchase
Correct Answer
C. Word-of-mouthExplanation
Businesses hope that individuals who are favourably impressed with the business will tell others about it so that the business will receive word-of-mouth publicity. Word-of-mouth publicity refers to positive recommendations and reviews that are shared by individuals to their friends, family, and acquaintances. This type of publicity is highly effective as it is based on personal experiences and trust. It can significantly impact the reputation and success of a business, leading to increased customer base and sales.Rate this question:
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- 23.
Which of the following do many businesses believe to be their most important resource:
- A.
Sales revenue
- B.
Office supplies
- C.
Equipment
- D.
Employees
Correct Answer
D. EmployeesExplanation
Many businesses believe that employees are their most important resource because they are the ones who drive the success of the company. Employees contribute their skills, knowledge, and expertise to achieve the company's goals and objectives. They are responsible for generating sales revenue, managing office supplies, and operating equipment effectively. Without dedicated and talented employees, a business may struggle to compete in the market and achieve sustainable growth. Therefore, businesses prioritize investing in their employees' development, satisfaction, and well-being to ensure long-term success.Rate this question:
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- 24.
The ZRB Company promises to ship LST Inc. 200 units of product by a certaindate, and LST Inc. promises to pay ZRB $25,000 for the product within 14 days ofreceipt. This is an example of a(n)
- A.
Defensible agreement.
- B.
Exempt contract.
- C.
Executed agreement.
- D.
Bilateral contract.
Correct Answer
D. Bilateral contract.Explanation
This is an example of a bilateral contract because it involves mutual promises and obligations between two parties, ZRB Company and LST Inc. Both parties have made commitments to each other - ZRB promises to ship 200 units of product and LST Inc. promises to pay $25,000 within 14 days of receipt. It is a two-sided agreement where performance from both parties is expected.Rate this question:
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- 25.
Which of the following is a reason a company might organize itself under the lawsof a different country than those of its "home" country:
- A.
To take advantage of technology
- B.
To remain competitive
- C.
To build brand value
- D.
To save on taxes
Correct Answer
D. To save on taxesExplanation
A company might choose to organize itself under the laws of a different country to save on taxes. Different countries have different tax laws and regulations, and some countries may offer more favorable tax rates or incentives for businesses. By establishing themselves in a country with lower tax rates or advantageous tax policies, the company can reduce its tax burden and potentially increase its profitability. This strategy is commonly known as tax optimization or tax planning, and it allows businesses to allocate their resources more efficiently while remaining compliant with legal requirements.Rate this question:
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- 26.
Whenever Melissa has to make a difficult decision, she considers how her actionsmight affect other people and their feelings. As a result, she has developed higher
- A.
Productivity.
- B.
Ethics.
- C.
Wages.
- D.
Profit margins.
Correct Answer
B. Ethics.Explanation
Melissa's consideration of how her actions might affect other people and their feelings indicates that she prioritizes moral values and principles. This suggests that she has developed a strong sense of ethics, which guides her decision-making process. This ethical approach likely leads to higher productivity as she takes into account the impact of her actions on others, fostering a positive work environment and promoting teamwork and collaboration.Rate this question:
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- 27.
Ted is planning a new advertising campaign for his company, a stable that offersprivate horseback-riding lessons. Which of the following is data that would be usefulfor Ted's marketing decision making:
- A.
Market share data for his company during the past year
- B.
Sales volume data for the horse racing industry
- C.
Strengths and weaknesses of local coffee shops
- D.
Demographic data for local dog owners
Correct Answer
A. Market share data for his company during the past yearExplanation
Market share data for his company during the past year would be useful for Ted's marketing decision making because it would provide him with information on how well his company is performing in the market compared to its competitors. This data would help him understand the market dynamics, identify areas of growth or decline, and make informed decisions on how to allocate resources and develop effective advertising strategies to attract more customers and increase market share.Rate this question:
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- 28.
The process of coding is part of which step of the marketing research process?
- A.
Presentation
- B.
Collection
- C.
Analysis
- D.
Preparation
Correct Answer
C. AnalysisExplanation
Coding is the process of assigning labels or codes to data in order to categorize and organize it for analysis. It involves transforming qualitative data into quantitative data, which can be easily analyzed using statistical methods. Therefore, coding is a crucial step in the analysis phase of the marketing research process. It helps researchers identify patterns, themes, and trends in the data, which ultimately leads to valuable insights and informed decision-making.Rate this question:
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- 29.
A business should conduct environmental scans on a continuous basis so that itcan
- A.
Control the external environment.
- B.
change customers' attitudes.
- C.
Save money.
- D.
Respond to opportunities and threats quickly.
Correct Answer
D. Respond to opportunities and threats quickly.Explanation
A business should conduct environmental scans on a continuous basis in order to respond to opportunities and threats quickly. By regularly monitoring the external environment, the business can identify potential opportunities for growth and development, as well as potential threats that may impact its operations. This allows the business to adapt and make informed decisions in a timely manner, ensuring that it can take advantage of favorable circumstances and mitigate any risks or challenges that may arise.Rate this question:
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- 30.
Which of the following statements would be the best way for a job applicant to end an interview:
- A.
"Mr. Maxwell, what did you say is the reason that this job is open?"
- B.
"Ms. Collins, if you have any more questions, please give me a call."
- C.
"Ms. Martin, I know that I can do this job, and I would like to have it."
- D.
"Mr. Murray, I'd be happy to have this job, if you can't find anyone else."
Correct Answer
C. "Ms. Martin, I know that I can do this job, and I would like to have it."Explanation
The answer "Ms. Martin, I know that I can do this job, and I would like to have it" would be the best way for a job applicant to end an interview because it demonstrates confidence in their abilities and a genuine interest in the position. By expressing their belief in their own capabilities and their enthusiasm for the job, the applicant is conveying a positive and assertive attitude, which can leave a lasting impression on the interviewer. This statement shows that the applicant is confident in their skills and genuinely wants the job, making them a strong candidate.Rate this question:
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- 31.
Which one do you like?
- A.
Option 1
- B.
Option 2
- C.
Option 3
- D.
Option 4
Correct Answer
A. Option 1 -
- 32.
Which of the following limits the usefulness of the Internet as an advertising tool:
- A.
Linking
- B.
Action and sound capabilities
- C.
E-mail filter
- D.
Personalization
Correct Answer
C. E-mail filterExplanation
An e-mail filter limits the usefulness of the Internet as an advertising tool because it automatically sorts and blocks unwanted or spam emails from reaching the user's inbox. This means that advertisements sent via email may not even reach the intended audience, reducing the effectiveness of internet advertising.Rate this question:
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- 33.
What do you need to identify if there are complicated jobs that members of the group are unable to perform?
- A.
Technical equipment
- B.
Alternative tasks
- C.
Support services
- D.
Replacement items
Correct Answer
C. Support servicesExplanation
To identify if there are complicated jobs that members of the group are unable to perform, support services are needed. Support services can provide assistance, guidance, and resources to help individuals overcome challenges and successfully complete their tasks. These services may include training, mentoring, troubleshooting, or access to experts who can provide specialized knowledge or skills. By utilizing support services, the group can ensure that all members have the necessary support and resources to effectively perform their jobs, even in complex situations.Rate this question:
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- 34.
A video store tells customers that a certain DVD will be in stock, but on the release date, it has no DVDs available. This is an example of which negative action companies should avoid taking:
- A.
Using high-pressure sales techniques
- B.
Not keeping promises
- C.
Delivering low-quality goods and services
- D.
Responding inappropriately to crises
Correct Answer
B. Not keeping promisesExplanation
This situation of the video store not having the DVD available on the release date demonstrates the negative action of not keeping promises. The store had informed customers that the DVD would be in stock, but they failed to fulfill their promise. This is an example of a company not following through on their commitments and can lead to customer dissatisfaction and loss of trust.Rate this question:
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- 35.
If all of the individuals who own a business share unlimited liability for the business's losses, these individuals are part of a(n)
- A.
Close corporation.
- B.
Generation partnership.
- C.
"S" corporation.
- D.
Public corporation.
Correct Answer
B. Generation partnership.Explanation
A generation partnership is a type of business structure where all the individuals who own the business share unlimited liability for the business's losses. This means that each partner is personally responsible for any debts or obligations of the business. In a generation partnership, the liability is not limited to just the initial investment, but extends to the personal assets of the partners. This type of structure is often used in family businesses where multiple generations are involved in the ownership and management of the business.Rate this question:
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- 36.
Which of the following types of customer relationship management software would be most appropriate for a company that is looking for a more efficient way to track leads, prospects, and customers:
- A.
Matching engine technology
- B.
Campaign management software
- C.
Personalization technology
- D.
Sales force automation technology
Correct Answer
D. Sales force automation technologyExplanation
Sales force automation technology would be the most appropriate type of customer relationship management software for a company that is looking for a more efficient way to track leads, prospects, and customers. This software is specifically designed to automate and streamline sales-related tasks and processes, including lead management, contact management, opportunity management, and sales forecasting. It helps the company to effectively track and manage its sales pipeline, improve sales efficiency, and enhance customer relationships.Rate this question:
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- 37.
When should you record bank transactions in your check register?
- A.
When checks bounce
- B.
When bank statements are received
- C.
As bank statements are reconciled
- D.
As soon as each check is written
Correct Answer
D. As soon as each check is writtenExplanation
The correct answer is "As soon as each check is written". Recording bank transactions in the check register as soon as each check is written helps to maintain an accurate and up-to-date record of the transactions. It allows for better tracking of expenses, helps to avoid overdrawing the account, and ensures that the check register reflects the correct balance. By recording transactions promptly, individuals can also identify any discrepancies or errors early on and take appropriate actions to rectify them.Rate this question:
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- 38.
Which of the following is an example of an emergency situation that business employees should know how to handle and report:
- A.
Bomb threat
- B.
Internal theft
- C.
Check fraud
- D.
Stolen identity
Correct Answer
A. Bomb threatExplanation
An example of an emergency situation that business employees should know how to handle and report is a bomb threat. In the event of a bomb threat, employees need to be aware of the necessary protocols to follow, such as evacuating the premises, contacting the authorities, and providing any relevant information about the threat. This is crucial for the safety and security of everyone in the building and requires immediate action to mitigate any potential harm.Rate this question:
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- 39.
An important step in the process of purchasing equipment and supplies for the business is
- A.
selecting vendors.
- B.
reviewing revenues.
- C.
Monitoring competitors.
- D.
visiting trade shows.
Correct Answer
A. selecting vendors.Explanation
When purchasing equipment and supplies for a business, selecting vendors is an important step because it determines the quality, cost, and reliability of the products or services being acquired. By carefully choosing vendors, the business can ensure that they are working with reputable and trustworthy suppliers who can meet their specific needs and requirements. This includes factors such as price negotiations, delivery schedules, product warranties, and customer support. Therefore, selecting vendors plays a crucial role in ensuring the smooth and efficient procurement process for the business.Rate this question:
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- 40.
Which of the following is a situation that is likely to require a company's employees to obtain special training from an external source:
- A.
Interpreting a quarterly sales report
- B.
Understanding the company's policy manual
- C.
Learning a complex computer software program
- D.
Analyzing results of a research project
Correct Answer
C. Learning a complex computer software programExplanation
Learning a complex computer software program is likely to require employees to obtain special training from an external source because it involves acquiring specific technical skills and knowledge that may not be readily available within the company. External training can provide employees with the necessary expertise and guidance to effectively navigate and utilize the software program, ensuring that they can perform their tasks efficiently and accurately.Rate this question:
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- 41.
The purpose of legal procedure is to ensure that each party receives
- A.
Ongoing advice.
- B.
Consistent treatment.
- C.
A reasonable verdict.
- D.
An indictment
Correct Answer
B. Consistent treatment.Explanation
The purpose of legal procedure is to ensure that each party involved in a legal case is treated fairly and consistently. This means that all parties should have equal access to legal representation, evidence, and the opportunity to present their case. Consistent treatment ensures that the legal process is fair and unbiased, allowing for a reasonable verdict to be reached based on the merits of the case.Rate this question:
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- 42.
Packaging jewelry in a biodegradable or recyclable container is one way a channel member can participate in the ethical concept of
- A.
Social awareness.
- B.
Green marketing.
- C.
International marketing.
- D.
Consumer protection
Correct Answer
B. Green marketing.Explanation
Packaging jewelry in a biodegradable or recyclable container aligns with the principles of green marketing, which involves promoting and selling products that are environmentally friendly. By using sustainable packaging, the channel member demonstrates their commitment to reducing waste and minimizing the impact on the environment. This practice resonates with consumers who prioritize sustainability and helps to create a positive brand image.Rate this question:
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- 43.
I'm tired of the government's telling me what to do. They made me become a teacher, they determine my salary, and they even control where I can live," the worker complained. What type of economic system is this person complaining about?
- A.
Free enterprise.
- B.
Communist Command.
- C.
Traditional.
- D.
Market.
Correct Answer
B. Communist Command.Explanation
The person is complaining about a Communist Command economic system because they mention that the government determines their profession, salary, and place of residence. In a Communist Command system, the government has control over all aspects of the economy and makes these types of decisions for individuals.Rate this question:
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- 44.
"Your money back if not satisfied" is an example of a
- A.
Recourse.
- B.
Strategy.
- C.
Warranty.
- D.
Guarantee.
Correct Answer
D. Guarantee.Explanation
The phrase "Your money back if not satisfied" indicates that if the customer is not happy with the product or service, they will receive a refund. This implies a promise or assurance that the customer's satisfaction is guaranteed. Therefore, "Your money back if not satisfied" exemplifies a guarantee.Rate this question:
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- 45.
When a clothing designer decides to create an infomercial to advertise a new clothing line, it can maximize its customer response rate by requesting a call to action __________ the infomercial.
- A.
At the beginning of
- B.
Several times during
- C.
At the end
- D.
In the middle of
Correct Answer
B. Several times duringExplanation
When a clothing designer decides to create an infomercial to advertise a new clothing line, requesting a call to action several times during the infomercial can maximize its customer response rate. By including multiple prompts throughout the infomercial, the designer increases the chances of capturing the viewers' attention and encouraging them to take action, such as making a purchase or visiting the designer's website. This repetition helps reinforce the message and ensures that the call to action is not easily overlooked or forgotten by the viewers.Rate this question:
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- 46.
An example of a country that has a socialist command economy is
- A.
Japan.
- B.
Great Britain.
- C.
North Korea.
- D.
China.
Correct Answer
B. Great Britain.Explanation
Great Britain is not an example of a country that has a socialist command economy. A socialist command economy is characterized by the government having complete control over the allocation of resources and the means of production. Great Britain, on the other hand, has a mixed economy with elements of both socialism and capitalism. While it does have a welfare state and government intervention in certain sectors, it also has a significant private sector and market-driven economy. Therefore, Great Britain is not a suitable example for a socialist command economy.Rate this question:
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- 47.
Developing a pricing structure that encourages customers to buy additional services that they don't need in order to obtain the original product is often a(n) __________ tactic.
- A.
Accepted
- B.
Unethical
- C.
Predatory
- D.
Illegal
Correct Answer
B. UnethicalExplanation
Developing a pricing structure that encourages customers to buy additional services they don't need in order to obtain the original product is considered unethical. This tactic takes advantage of customers by pressuring them into purchasing unnecessary services, which goes against ethical business practices. It prioritizes profit over the well-being and satisfaction of customers, leading to a negative perception of the company's integrity.Rate this question:
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- 48.
Not allowing employees to bring personal belongings into the work area helps to prevent
- A.
Fraud.
- B.
Robbery.
- C.
Burglary.
- D.
Shoplifting.
Correct Answer
A. Fraud.Explanation
Not allowing employees to bring personal belongings into the work area helps to prevent fraud because it reduces the risk of employees stealing or misusing company resources for personal gain. By prohibiting personal belongings, the organization can maintain a higher level of control and accountability over its assets, reducing the potential for fraudulent activities.Rate this question:
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- 49.
A business's goal is to gain 25 percent of its sales through its direct-mail catalog. If the business has an overall goal of $845,600 in sales, and it is halfway through the sales period, how much revenue should the business have earned from its direct-mail catalog sales so far?
- A.
$200, 375
- B.
$211,400
- C.
$155, 450
- D.
$105,700
Correct Answer
D. $105,700Explanation
Since the business's overall goal is $845,600 and it is halfway through the sales period, it means that the business should have earned half of its overall goal by now. To calculate this, we can divide the overall goal by 2, which gives us $422,800. Since the business's goal is to gain 25 percent of its sales through its direct-mail catalog, we can calculate 25 percent of $422,800, which is $105,700. Therefore, the business should have earned $105,700 from its direct-mail catalog sales so far.Rate this question:
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- 50.
Effective strategic planning involves considering the input of
- A.
Board of directors.
- B.
Select customers.
- C.
Several sources.
- D.
The middle management.
Correct Answer
C. Several sources.Explanation
Effective strategic planning involves considering the input of several sources. This is because strategic planning requires gathering information and insights from various stakeholders, such as employees, customers, suppliers, and industry experts. By considering input from multiple sources, organizations can gain a comprehensive understanding of their internal and external environments, identify potential opportunities and threats, and make informed decisions to achieve their strategic objectives. The input from several sources helps in ensuring a well-rounded and inclusive strategic planning process.Rate this question:
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Current Version
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Mar 21, 2023Quiz Edited by
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Dec 15, 2014Quiz Created by
Zohreh_aliasgari
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