The Big Quiz On Business
Principles of businessend of chapter quiz on legal aspect of business contracts.
Questions and Answers
- 1.
The idea that every employee tends to rise to his or her level of incompetence is known as what?
- A.
Business 101
- B.
The Law Of Diminishing Returns
- C.
The Peter Principle
- D.
The Fair Labor Act
Correct Answer
C. The Peter PrincipleExplanation
The Peter Principle refers to the concept that individuals in a hierarchical organization will eventually be promoted to a position where they are no longer competent. This is because employees are typically promoted based on their performance in their current role, rather than their ability to succeed in the new role. As a result, employees will continue to be promoted until they reach a position where they are no longer competent, leading to inefficiency and incompetence within the organization.Rate this question:
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- 2.
Whose ad slogan is "Quality is Job 1"?
- A.
Zenith
- B.
GM
- C.
Ford
- D.
Boeing
Correct Answer
C. FordExplanation
Ford's ad slogan "Quality is Job 1" implies that Ford prioritizes quality in their products and services. This slogan suggests that Ford is committed to delivering high-quality vehicles to their customers. By emphasizing the importance of quality, Ford aims to build trust and loyalty among consumers. This slogan has become synonymous with Ford and is often associated with their brand image.Rate this question:
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- 3.
A fiscal year is exactly how long?
- A.
90 Days
- B.
12 Months
- C.
6 Months
- D.
300 Days
Correct Answer
B. 12 MonthsExplanation
A fiscal year is a period of time that a company or organization uses for financial reporting and planning. It is typically 12 months long and does not necessarily align with the calendar year. This allows businesses to track their financial performance and make strategic decisions based on a consistent time frame. By using a fiscal year, companies can analyze their financial data and compare it to previous periods to assess their growth and profitability. Therefore, the correct answer is 12 months.Rate this question:
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- 4.
What is a telestrator?
- A.
A Medical Device
- B.
A Type Of Lens For Seeing In The Dark
- C.
Used By Sportscasters To Draw On Screen
- D.
A Fender Guitar
Correct Answer
C. Used By Sportscasters To Draw On ScreenExplanation
A telestrator is a tool used by sportscasters to draw on the screen during live broadcasts. It allows them to highlight and analyze specific plays or movements by drawing lines, circles, and other shapes directly on the video feed. This helps viewers better understand the action and provides additional insights and analysis.Rate this question:
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- 5.
What Japanese company's name means "three diamonds"?
- A.
Honda
- B.
Sanyo
- C.
Panasonic
- D.
Mitsubishi
Correct Answer
D. MitsubishiExplanation
Mitsubishi is the correct answer because the name of the Japanese company translates to "three diamonds" in English. This refers to the three-diamond logo that Mitsubishi uses, representing reliability, integrity, and success.Rate this question:
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- 6.
What was Ivan Boesky found guilty of in the 1980's?
- A.
Embezzlement
- B.
Bribery
- C.
Insider Trading
- D.
Murder
Correct Answer
C. Insider TradingExplanation
Ivan Boesky was found guilty of insider trading in the 1980s. Insider trading refers to the illegal practice of trading stocks or other securities based on non-public, material information about the company. Boesky was a prominent stock trader who gained notoriety for his involvement in illegal insider trading schemes. He was convicted for using insider information to make substantial profits in the stock market, which violated securities laws and undermined the integrity of the financial markets.Rate this question:
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- 7.
Who parlayed a string of strip clubs into a publishing empire?
- A.
William Randolph Hearst
- B.
Malcolm Forbes
- C.
Larry Flynt
- D.
Hugh Hefner
Correct Answer
C. Larry FlyntExplanation
Larry Flynt parlayed a string of strip clubs into a publishing empire. He is best known as the founder of Hustler magazine, which became a significant part of his publishing empire. Flynt's success in the adult entertainment industry allowed him to expand his business ventures and establish himself as a prominent figure in the publishing world.Rate this question:
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- 8.
What company did William Hewlett help create?
- A.
Heinz
- B.
MCI
- C.
Packard Bell
- D.
Hewlett-Packard Co
Correct Answer
D. Hewlett-Packard CoExplanation
William Hewlett helped create Hewlett-Packard Co.Rate this question:
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- 9.
What product is promoted as it "makes you a legend in your own time"?
- A.
Old Spice
- B.
British Sterling
- C.
Brut
- D.
English Leather
Correct Answer
B. British SterlingExplanation
British Sterling is promoted as "making you a legend in your own time." This suggests that using British Sterling will elevate the user's status and reputation, making them stand out and be remembered as exceptional. The phrase implies that by using British Sterling, individuals can achieve a level of greatness and become legendary figures in their own right.Rate this question:
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- 10.
What is the name of the "Dude, you're gettin' a Dell" character?
- A.
Steven
- B.
Michael
- C.
Kevin
- D.
Robert
Correct Answer
A. StevenExplanation
The correct answer is Steven.Rate this question:
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- 11.
"B.V.D." underwear is short for what name?
- A.
Brown, Vance & Doubleday
- B.
Best, Van Huesen & Denning
- C.
Bradley, Voorhees & Day
- D.
Billings, Vorten & Downing
Correct Answer
C. Bradley, Voorhees & DayExplanation
The correct answer is Bradley, Voorhees & Day. The acronym "B.V.D." stands for the names of the founders of the underwear company, Bradley, Voorhees & Day.Rate this question:
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- 12.
How is Ray Kroc best known?
- A.
Led The Iranian Revolution
- B.
Founder Of McDonalds
- C.
Seventh U.S. President
- D.
Robbed Banks In The 30's
Correct Answer
B. Founder Of McDonaldsExplanation
Ray Kroc is best known as the founder of McDonald's. He joined the company in 1954 and turned it into a global fast-food empire. Kroc implemented various innovative strategies, such as the assembly line production system and franchising, which revolutionized the fast-food industry. Under his leadership, McDonald's grew rapidly and became one of the most successful and recognizable brands in the world. Kroc's contribution to the establishment and expansion of McDonald's is widely recognized and acknowledged.Rate this question:
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- 13.
What country is home to roughly thirty percent of the world's software engineers?
- A.
India
- B.
France
- C.
Canada
- D.
Jamaica
Correct Answer
A. IndiaExplanation
India is home to roughly thirty percent of the world's software engineers because it has a large pool of highly skilled and educated professionals in the field of technology. The country has a strong focus on STEM education and produces a significant number of graduates in computer science and engineering every year. Additionally, India has a thriving IT industry and is a preferred outsourcing destination for many global companies, which further contributes to its high number of software engineers.Rate this question:
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- 14.
What German company in 1998 purchased and took over Chrysler Motors?
- A.
Mercedes-Benz
- B.
Aston Martin
- C.
Daimler-Benz
- D.
Jaguar
Correct Answer
C. Daimler-BenzExplanation
In 1998, Daimler-Benz, a German company, purchased and took over Chrysler Motors. This acquisition allowed Daimler-Benz to expand its presence in the automotive industry and gain access to Chrysler's resources and market share. The merger resulted in the formation of DaimlerChrysler AG, which aimed to create a global automotive powerhouse. However, the merger faced challenges and was eventually dissolved in 2007, with Daimler selling its stake in Chrysler.Rate this question:
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- 15.
In what state was Disney's first theme park opened?
- A.
Texas
- B.
California
- C.
New York
- D.
Florida
Correct Answer
B. CaliforniaExplanation
Disney's first theme park, Disneyland, was opened in California. This park, located in Anaheim, California, opened its doors in 1955 and became the first-ever Disney theme park. It was a revolutionary concept at the time, introducing the world to the magic of Disney and paving the way for future theme parks and entertainment experiences. Today, Disneyland remains a popular destination and is considered a symbol of the Disney brand.Rate this question:
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This acquisition test is for you if you are a business student!
This acquisition test is for you if you are a business student!
Business Advancements Quiz for Meaningful Insights
Business Advancements Quiz for Meaningful Insights
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