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Business 101 Test Reveiw Questions

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TRUE/FALSE;1. The chain of command defines lines of authority throughout the company.;2. Tactical planning usually involves short term statements.;3. A reason for imposing trade restrictions would be to protect jobs of domestic workers.;4. A problem for corporate stockholders is double taxation.;5. Reverse discrimination works against whites or males.;6. Theory Y assumes employees generally do not like to work.;7. All general partners share in decision making and in unlimited financial liability.;8. Line people are directly involved with achieving company goals.;9. Job analysis describes what employees do.;10. GATT and WTO were designed to increase international trade among member nations.;11. Flextime schedules are very rigid.;12. Title VII of the 1964 Civil Rights Act outlaws age discrimination.;13. An advantage of a franchise is a nationally recognized name.;14. In a closed corporation, common stock is owned by a large number of shareholders.;15. The Hawthorne Studies by Elton Mayo showed that human factors are important in;regard to motivation.;16. A positive balance of trade means that you have imported more goods than you have;exported.;17. Frederick Taylor was very involved with Scientific Management.;18. In a decentralized organization, top management tightly controls all aspects of the;company.;19. An S corporation is taxed like a sole proprietorship or a partnership.;20. Cafeteria fringe benefits give employees choices..;SHORT ESSAY;1. What is benchmarking?;2. What are the five levels of Maslows Hierarchy?;3. In international trade, define the concept of an import duty or tariff.;4. What is done by management during the control function?;5. What do job specifications explain?;6. What is unlimited liability in regard to a sole proprietorship?;Business Situation;Describe the steps involved with the selection or hiring process for a new employee.;TRUE/FALSE;1. A pull strategy is directed to consumers.;2. Agents or brokers do not take title to any goods, they just transfer them.;3. Place utility makes a product available where customers want it.;4. Personal selling makes heavy use of electronic media.;5. In market research, the first step is to define the question or problem.;6. Unsought goods are products that consumers do not know that they need.;7. A product line is a grouping of products that are very similar in nature.;8. Private label brands carry a distributor or retailers name.;9. Packaging does not normally have to attract the buyers attention.;10. Using the product life cycle normally has no benefit to the marketing department.;11. Primary data is taken from published sources.;12. Brand association normally connects a brand to some type of favorable or positive;image.;13. An example of non-store retailing is direct selling.;14. An advantage of internet marketing is that it can be accessed anytime.;15. Creating an image may be a price objective.;16. Penetration pricing sets a relatively high price for a new product entering the market;and, then, the price is decreased after some interval.;17. In personal selling, you normally do not have direct contact with the customer.;18. A sales promotion activity might be sponsorship of an event.;19. During the decline stage of the product life cycle, marketers must redesign products to;accelerate market trends.;20. Publicity is always paid for by the company seeking to get attention..;SHORT ESSAY;7. When you try to close the sale, what is your ultimate goal?;8. What happened in the production era of marketing?;9. What is a market segment?;10. Briefly explain the concept of supply-chain management.;11. What does a merchant wholesaler do?;12. What are the four elements of a marketing mix?;Business Situation;You are a salesperson for Proctor and gamble selling Tide detergent. List and describe in detail;the seven tasks that you or any other salesperson must perform in your profession.;Relate these tasks to Tide detergent..;TRUE/FALSE;1. A pull strategy is directed to consumers.;2. Agents or brokers do not take title to any goods, they just transfer them.;3. Place utility makes a product available where customers want it.;4. Personal selling makes heavy use of electronic media.;5. In market research, the first step is to define the question or problem.;6. Unsought goods are products that consumers do not know that they need.;7. A product line is a grouping of products that are very similar in nature.;8. Private label brands carry a distributor or retailers name.;9. Packaging does not normally have to attract the buyers attention.;10. Using the product life cycle normally has no benefit to the marketing department.;11. Primary data is taken from published sources.;12. Brand association normally connects a brand to some type of favorable or positive;image.;13. An example of non-store retailing is direct selling.;14. An advantage of internet marketing is that it can be accessed anytime.;15. Creating an image may be a price objective.;16. Penetration pricing sets a relatively high price for a new product entering the market;and, then, the price is decreased after some interval.;17. In personal selling, you normally do not have direct contact with the customer.;18. A sales promotion activity might be sponsorship of an event.;19. During the decline stage of the product life cycle, marketers must redesign products to;accelerate market trends.;20. Publicity is always paid for by the company seeking to get attention..;SHORT ESSAY;1. When you try to close the sale, what is your ultimate goal?;2. What happened in the production era of marketing?;3. What is a market segment?;4. Briefly explain the concept of supply-chain management.;5. What does a merchant wholesaler do?;6. What are the four elements of a marketing mix?;Business Situation;You are a salesperson for Proctor and gamble selling Tide detergent. List and describe in detail;the seven tasks that you or any other salesperson must perform in your profession.;Relate these tasks to Tide detergent..;TRUE/FALSE;1. A secured bond is backed by collateral.;2. Preferred stockholders always have the right to vote.;3. A debit card withdraws money from a checking account.;4. Junk bonds usually have a low amount of risk.;5. Investment bankers help to issue and sell securities.;6. Equity funding consists of money borrowed from outside sources.;7. In factoring, you sell your accounts payable.;8. A short time financial forecast is normally done for a year time frame.;9. A certificate of deposit is a savings account that earns interest.;10. Common stockholders have the right to vote.;11. Liquidity means the speed in which you can convert something into cash.;12. Normally, only highly regarded customers can get unsecured loans.;13. Undercapitalization means a company does not have enough money to start a business;properly.;14. Stockholders never have to be paid.;15. The discount rate is the interest rate charged by the Federal Reserve to member banks;for loans.;16. Diversification concentrates all of your funds in one area.;17. An operating budget is normally used to make plans to buy major assets that cost a lot of;money.;18. A demand deposit is also known as a checking account.;19. The Dow Jones and other indices give an idea of how the stock market is doing.;20. Leverage means that you borrow money to increase a companys rate of return..;SHORT ESSAY;1. What is the maturity date of a bond?;2. Define revolving credit.;3. What are retained earnings?;4. If you buy stocks on margin, what does that mean?;5. List two disadvantages of bonds.;6. What is the reserve requirement in regard to commercial banks?;Business Situation;Explain how the federal reserve System can increase or decrease the nations supply of money;through the use of open market operations.;TRUE/FALSE;1. A secured bond is backed by collateral.;2. Preferred stockholders always have the right to vote.;3. A debit card withdraws money from a checking account.;4. Junk bonds usually have a low amount of risk.;5. Investment bankers help to issue and sell securities.;6. Equity funding consists of money borrowed from outside sources.;7. In factoring, you sell your accounts payable.;8. A short time financial forecast is normally done for a year time frame.;9. A certificate of deposit is a savings account that earns interest.;10. Common stockholders have the right to vote.;11. Liquidity means the speed in which you can convert something into cash.;12. Normally, only highly regarded customers can get unsecured loans.;13. Undercapitalization means a company does not have enough money to start a business;properly.;14. Stockholders never have to be paid.;15. The discount rate is the interest rate charged by the Federal Reserve to member banks;for loans.;16. Diversification concentrates all of your funds in one area.;17. An operating budget is normally used to make plans to buy major assets that cost a lot of;money.;18. A demand deposit is also known as a checking account.;19. The Dow Jones and other indices give an idea of how the stock market is doing.;20. Leverage means that you borrow money to increase a companys rate of return..;SHORT ESSAY;1. What is the maturity date of a bond?;2. Define revolving credit.;3. What are retained earnings?;4. If you buy stocks on margin, what does that mean?;5. List two disadvantages of bonds.;6. What is the reserve requirement in regard to commercial banks?;Business Situation;Explain how the federal reserve System can increase or decrease the nations supply of money;through the use of open market operations.

 

Paper#20313 | Written in 18-Jul-2015

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