The Ultimate Introduction To Business Test #2

50 Questions | Total Attempts: 85

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Introduction To Business Quizzes & Trivia

Questions and Answers
  • 1. 
    Which of the following is a function of an operating budget:
    • A. 

      To record financial data

    • B. 

      To control expenditures

    • C. 

      To monitor accounting

    • D. 

      To regulate inflation

  • 2. 
    During which of the following stages in a product's life cycle can a retail chain expect to earn significant profits:
    • A. 

      Growth

    • B. 

      Introduction

    • C. 

      Decline

    • D. 

      Maturity

  • 3. 
    One way that technical salespeople often are able to gain the trust and confidence of their customers is by
    • A. 

      Making promises.

    • B. 

      Entertaining lavishly

    • C. 

      lowering prices.

    • D. 

      Behaving ethically

  • 4. 
    An important step in the process of developing a marketing plan involves selecting the
    • A. 

      Target market.

    • B. 

      Distribution agent

    • C. 

      Sales force.

    • D. 

      Research strategy.

  • 5. 
    What piece of equipment would an electronics store cashier use to confirm that a customer has been approved to charge the amount of a sale?
    • A. 

      Interactive computer system

    • B. 

      Mechanical imprinter

    • C. 

      Digital scanner

    • D. 

      Electronic credit authorizer

  • 6. 
    Goods and services purchased from other nations are referred to as
    • A. 

      Exports

    • B. 

      Imports

    • C. 

      Domestic trade.

    • D. 

      international trade.

  • 7. 
    A manufacturer that wants to reduce the cost of producing a product should strive to improve the firm's
    • A. 

      Profits

    • B. 

      Capital

    • C. 

      Productivity

    • D. 

      Sales

  • 8. 
    The first step in preparing an employee's payroll check usually involves calculating
    • A. 

      Gross wage.

    • B. 

      Mileage expense.

    • C. 

      tax liability.

    • D. 

      Withholding status.

  • 9. 
    A key factor in successful human relations involves treating others with
    • A. 

      Respect

    • B. 

      Indifference

    • C. 

      Reverence

    • D. 

      Admiration

  • 10. 
    What figure does a business start with when preparing a profit-and-loss statement?
    • A. 

      Net sales

    • B. 

      Operating expenses

    • C. 

      Gross income

    • D. 

      Gross margin

  • 11. 
    To make sure that their budgets are effective, what should businesses do with budget information?
    • A. 

      Provide it to all top managers

    • B. 

      Communicate it to all employees

    • C. 

      Post it on bulletin boards

    • D. 

      Send it to all stockholders.

  • 12. 
    A disadvantage of a general partnership as a form of business ownership is that its owners have
    • A. 

      Unlimited liability

    • B. 

      Lower profits

    • C. 

      Less productivity

    • D. 

      Difficulty getting started.

  • 13. 
    Marketing links producers to
    • A. 

      Distributors

    • B. 

      Customers

    • C. 

      Retailers

    • D. 

      Marketers

  • 14. 
    When assessing global trends and opportunities, an important factor that businesses usually consider is another country's
    • A. 

      Stage of economic development.

    • B. 

      Type of physical geography.

    • C. 

      Ability to access the Internet.

    • D. 

      Reputation in the marketplace.

  • 15. 
    A channel of distribution that has strong leadership is often able to avoid
    • A. 

      Conflict

    • B. 

      Competition

    • C. 

      Regulation

    • D. 

      Publicity

  • 16. 
    Most companies believe their investment in training is usually
    • A. 

      Returned through improved employee performance

    • B. 

      Lost because employees don't apply the training.

    • C. 

      Returned through reduced employee productivity.

    • D. 

      Wasted because employees eventually quit.

  • 17. 
    A Japanese marketer wants to sell large quantities of DVD players in the United States. The channel of distribution this business would most likely use would be producer to
    • A. 

      Agent to consumer

    • B. 

      Wholesaler to consumer.

    • C. 

      Wholesaler to retailer to consumer

    • D. 

      Consumer

  • 18. 
    Net profit is money left after a business has paid
    • A. 

      The cost of goods for resale.

    • B. 

      All of its expenses

    • C. 

      Style its employees' salaries.

    • D. 

      Its operating expenses.

  • 19. 
    A physical characteristic of a digital camera is known as a(n)
    • A. 

      Feature

    • B. 

      Image

    • C. 

      Style

    • D. 

      Benefit

  • 20. 
    What information should a technical equipment manufacturer's employees avoid sharing with their coworkers?
    • A. 

      Inventory policy

    • B. 

      Promotional ideas

    • C. 

      Current salary

    • D. 

      Operating hours

  • 21. 
    What is one of the reasons why a business supervisor might prepare a complex written report?
    • A. 

      To compile sales expenses

    • B. 

      To request pricing information

    • C. 

      To analyze marketing trends

    • D. 

      To schedule training sessions

  • 22. 
    Which of the following types of credit requires a down payment:
    • A. 

      Revolving credit

    • B. 

      Open-account credit

    • C. 

      Credit card

    • D. 

      Installment credit

  • 23. 
    One reason it is important for businesses to coordinate their promotional activities is to reinforce the
    • A. 

      Sales effort.

    • B. 

      Advertising

    • C. 

      Publicity

    • D. 

      print media

  • 24. 
    A reason for conducting a SWOT analysis for use in the marketing-planning process is to identify a business's ____ strengths & weaknesses.
    • A. 

      Financial

    • B. 

      Internal

    • C. 

      Regional

    • D. 

      External

  • 25. 
    The print medium that reaches people who have common personal interests or lifestyles is a
    • A. 

      Trade journal

    • B. 

      Business magazine.

    • C. 

      Consumer magazine.

    • D. 

      Professional journal.

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