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Study Resources (Business Management)

  31. Orientation is the human resources function that:  A. includes building tours, introductions, and socialization. B. provides on-the-job training to employees. C. appraises employees subjectively. D. teaches employees to do specific job tasks. E. occurs after the employee is on the job for several months. 32. _____ familiarizes newly hired employees with fellow workers, company procedures, and the physical properties of the company.  A. Development B. Reference.
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  31. _____ is the goal of the marketing concept.  A. Product orientation B. Productivity boosting C. Customer satisfaction D. Asset turnover E. Sales orientation 32. Which of the following is an ineffective practice to follow while implementing the marketing concept?  A. Using the customer's perception of value as the ultimate measure of work performance B. Striking a balance between achieving organizational objectives and satisfying customers C. Adopting a product.
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  21. An employer beginning the selection process for new employees would begin with the _____.  A. training process B. reference checking process C. testing step D. the application form E. orientation process 22. Which stage of the employee selection process allows management to obtain detailed information about an applicant's experience and skills, reasons for changing jobs, and an idea of whether the person.
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  91. Which of the following is an economic force that influences the marketing environment?  A. Computers and technological advances in a country B. Quality of life C. Purchasing power D. Public's opinions and attitudes E. Political actions of interest groups 92. Daily Stop, a supermarket in California, was criticized by the community for the use of plastic bags. In view of the concerns.
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  11. In the context of digital communication, _____ refers to the ability of marketers to obtain digital information.  A. control B. accessibility C. connectivity D. addressability E. interactivity 12. Google can use web searches done through its search engine to learn about customer interests. This underlies the _____ aspect of digital communication.  A. control B. addressability C. connectivity D. accessibility E. interactivity 13. In the context of digital communication, _____ refers to consumers' ability to.
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  True / False Questions 1. Profits are negative in the growth stage of the product life cycle. 2. The perceived value of a product by consumers is an important consideration when pricing that product. 3. Penetration pricing is less flexible than price skimming. 4. Distribution channels for consumer products and business products are the same..
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  71. In a labor contract, the _____ clause calls for automatic wage increases during periods of inflation to protect the "real" income of employees.  A. non-compete B. giveback C. arbitration D. cost-of-living escalator E. wage-salary 72. _____ is a public protest against management practices and involves union members marching at an employer's plant or work site.  A. Bracketed arbitration B. Mediation C. Promoting D. Conciliation E. Picketing 73. Which of the following statements is true.
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  51. Because consumers associate a drug's price with potency, some pharmaceutical companies use the _____ strategy to price their over-the-counter drugs.  A. penetration pricing B. even/odd pricing C. symbolic/prestige pricing D. discounting E. price dipping 52. Many consumers associate high prices with high quality. In view of this assumption, some of the cosmetics companies use the _____ strategy to price their products.  A. penetration pricing B. even/odd.
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  61. According to Forrester Research, which of the following is a characteristic of creators?  A. Creating own media outlets, such as blogs, podcasts, videos, and wikis B. Updating Twitter feeds or status updates on social networking sites C. Commenting on blogs or post ratings and reviews D. Collecting and organizing content generated by critics E. Moderating online content 62. Individuals who upload original.
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  51. The net income of a company is equal to the total profit or loss minus:  A. assets and liabilities. B. equity. C. sales. D. expenses, including taxes. E. income and profits. 52. Which of the following equations describes the information presented in an income statement?  A. Equity = liabilities - assets B. Equity = assets - liabilities C. Net income = expenses - revenues + taxes D. Revenues - expenses.
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  71. _____ creates time and place utility by making products available when they are wanted, with adequate service and at minimum cost.  A. Commercialization B. Operationalization C. Physical distribution D. Selective distribution E. Departmentalization 72. Which of the following modes of transportation offers speed and a high degree of dependability but is the most expensive?  A. Railroads B. Trucking C. Air transport D. Shipping E. Pipelines 73. _____ are specifically noted for their flexibility in.
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  51. Financial compensation falls into two general categories, which are:  A. time wages and piece wages. B. wages and salaries. C. wages and benefits. D. commissions and incentives. E. salaries and benefits. 52. A wage/salary survey indicates:  A. how much employees in a company need to earn in order to meet their financial needs. B. how much compensation similar firms are paying for jobs that the firms.
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  41. Herzberg's motivational factors are similar to Maslow's:  A. physiological and security needs. B. security and social needs. C. social and esteem needs. D. esteem and self-actualization needs. E. physiological and esteem needs. 42. In the United States, workers' _____, as defined by Maslow, have largely been met by minimum-wage laws and federal occupational safety standards.  A. physiological and security needs B. security and social needs C. social and.
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  61. A company's assets that are used or converted into cash within the course of a calendar year are called:  A. fixed assets. B. long-term assets. C. equity. D. current assets. E. current liabilities. 62. Which of the following is an asset in the balance sheet?  A. Accrued expenses B. Accounts payable C. Accounts receivable D. Taxes payable E. Wages payable 63. A company's financial obligations to short-term creditors, which must be repaid within one.
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  71. Aurelie writes short stories for children and posts them on her webpage, where children can read them for free. Aurelie is a(n) _____, according to the social technographics of Forrester Research.  A. inactive B. critic C. joiner D. creator E. conversationalist 72. Alyson is a foodie who loves to try different cuisines at different restaurants. She also writes about her experiences at.
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  41. _____ is the total amount of money received from the sale of goods or services, as well as from other business activities such as the rental of property and investments.  A. Profit B. Expense C. Net income D. Revenue E. Price 42.  Non-business entities typically obtain revenue through:   A.  the sale of goods. B.  the sale of services. C.  the rental.
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  81. Apex, Inc. wants to increase its influence on social media in the country of Plutonia. It engages a research company to evaluate the characteristics of the online population in Plutonia. The research company reports that a majority of the population can be characterized as collectors. Which of the following strategies.
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  11.  A Certified Public Accountant has the right to:   A.  express, officially, an unbiased opinion regarding the accuracy of a client's financial statements. B.  publicly express a biased opinion about the accuracy of a firm's financial statements. C.  express his or her personal opinion in all financial matters. D.  handle.
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  81. Kart Inc., a publishing house, allows employees to log in at their preferred time and log off after completing eight hours. It does not have any fixed office timings. Kart Inc. offers _____ to its employees.  A. flextime B. compressed work week C. job sharing D. job enrichment E. run time 82. What is an advantage of using a flextime schedules?  A. It increases.
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  41. In the context of a performance review, _____ refers to an employee's willingness to identify and address opportunities for improvement.  A. quality B. knowledge C. initiative D. productivity E. adaptability 42. In the context of a performance review, _____ refers to the extent to which resourceful ideas, solutions, and methods for task completion are proposed.  A. quality B. knowledge C. initiative D. productivity E. creativity 43. In the context of a performance review, _____.
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  71. What is a drawback of job rotation?  A. It increases job turnover. B. It results in increased physical activity. C. It increases fixed costs for companies. D. It is unable to totally eliminate the problem of boredom. E. It discourages job enlargement initiatives. 72. Mazer Inc., a publication house, allows its employees to try out a variety of profiles, ranging from editing.
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  51. Mary follows McGregor's Theory Y approach to management. She is likely to assume that:  A. her subordinates avoid responsibilities. B. the average worker prefers to be directed. C. the average worker has little ambition. D. workers are not capable of self-control. E. workers can contribute through imagination and ingenuity. 52. Jill follows McGregor's Theory Y approach to management. She is likely to.
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  True / False Questions 1. The Internet impedes business transactions. 2. Digital technology has had greater impact in certain industries where the cost of business and customer transactions has been very high. 3. One of the greatest drawbacks of digital marketing is the inability of marketers and customers to share information with ease. 4. .
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  61. Which of the following distribution channels would most likely be used for fruits and vegetables sold at a roadside stand or farmer's markets?  A. Agent to wholesaler to retailer B. Producer to consumer C. Retailer to consumer D. Merchant to wholesaler E. Middleman to producer 62. As services are generally produced and consumed simultaneously, they are usually distributed through:  A. direct marketing channels. B. indirect channels. C. a.
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  41. Which of the following requires organizations to gather information about customer needs, share that information throughout the firm, and use it to help build long-term relationships with customers?  A. Quality orientation B. Production orientation C. Sales orientation D. Market orientation E. Competitor orientation 42. During the _____ phase of the marketing concept, businesses found that they must first determine what customers want.
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  True / False Questions 1. Planning as a function of human resources management includes determining the status of current personnel when planning human resource needs for the future. 2. It is not necessary for a company to verify an applicant's references because most applicants tell the truth on applications or résumés. 3. Classroom training.
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  21. Which of the following statements is true of digital media?  A. They make customer communications interactive. B. They limit a company's reach to new target markets. C. They limit marketers from utilizing new resources. D. They make communication complex and expensive. E. They limit consumers' access to information. 22. Which aspect of marketing has not changed with digital media?  A. A customer's ability to.
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  11.  If a nationwide sandwich shop chain introduces a new sandwich in the Midwest to try out its marketing strategy before offering the product across the country, it is in the _____ stage of the product development process.   A.  idea screening B.  commercialization C.  concept testing D.  business analysis E. .
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  21. _____ refers to standardizing products by dividing them into subgroups and displaying and labeling them so that consumers clearly understand their nature and quality.  A. Transporting B. Grading C. Selling D. Storing E. Financing 22. Which of the following activities is associated with the process of grading?  A. Labeling B. Storing C. Advertising D. Selling E. Researching 23. Through _____, marketers ascertain the need for new goods and services.  A. selling activities B. grading activities C. research programs D. promotions E. campaigns 24. A customer's subjective.
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  21. The principal value of a budget lies in its:  A. breakdown of cash inflows and outflows. B. forecast of income and expenses over a period of time. C. purpose of control over expenditures. D. evaluation of the firm's performance. E. development of a strategic financial plan. 22. Deviations between expected operating expenses and _____ serve as a "feedback loop" to launch more.
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  11. By paying the cashier at a spa for services, a customer engages in the process of:  A. barter. B. monopoly. C. price fixing. D. marketing. E. exchange. 12. At the heart of all business is the_____, the act of giving up one thing in return for something else.  A. collusion B. marketing strategy C. manipulation D. exchange E. risk management 13. Which of the following is a condition required for an exchange to take.
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  31. According to Maslow, living life to the fullest is most closely associated with fulfilling the _____.  A. biological needs B. self-actualization needs C. security needs D. social needs E. physiological needs 32. Maslow's theory maintains that:  A. hygiene factors, which relate to the work setting and not to the content of the work, include adequate wages. B. the more basic needs at the bottom of the.
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  11. Which of the following statements is true of a job specification as well as a job description?  A. Both the job description and job specification are used exclusively for internal job postings. B. Both the job description and job specification determine, through observation and study, pertinent information about a job. C. Both the job description and.
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  81. _____ is the most flexible of the promotional methods.  A. Publicity B. Advertising C. Packaging D. Sales promotion E. Personal selling 82. Which of the following steps of personal selling is associated with identifying potential buyers of a product?  A. Approaching B. Prospecting C. Presenting D. Handling objections E. Following up 83. Which of the following steps of personal selling is associated with asking a prospect to buy a product?  A. Approaching B. Prospecting C. Presenting D. Closing E. Following up 84. Venn Networks recently unveiled.
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  61. _____ segmentation is done on the basis of age, sex, race, ethnicity, income, education, occupation, family size, religion, social class.  A. Psychographic B. Demographic C. Behavioristic D. Geographic E. Class 62. Which of the following is a basis for the psychographic segmentation of markets?  A. Religion B. Income C. Education D. Lifestyle E. Gender 63. Gear Power Inc., an automobile company, manufactures different cars for different market segments. It markets its SUVs for customers.
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  71. Which of the following is a social variable of buying behavior?  A. Perception B. Motivation C. Attitude D. Personality E. Culture 72. Global Mart Inc., a multinational chain of supermarkets, wants to open a new store in a country called Alheroni. Before launching itself in the new market, the management of Global Mart Inc. wants to collect primary data about Alheroni's market..
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  21. Earth-moving equipment, stamping machines, and robotic equipment used on auto assembly lines are examples of:  A. major equipment. B. supplies. C. accessory equipment. D. industrial services. E. component parts. 22. Tires are an example of:  A. major equipment. B. component parts. C. accessory equipment. D. processed materials. E. raw materials. 23. Varnish is an example of:  A. major equipment. B. office supplies. C. accessory equipment. D. processed material. E. raw material. 24. 7-UP, Cherry 7-UP Antioxidant, and Diet 7-UP are products in Dr. Pepper Snapple Group's:  A. 7-UP.
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  31. Clara's Label owes certain debts to the Small Business Administration and her suppliers. In accounting, these debts are known as _____.  A. owners' equity B. assets C. liabilities D. stock E. bonds 32. Which of the following equations is equivalent to the accounting equation?  A. Equity = liabilities - assets B. Owners' equity = assets - liabilities C. Revenues - expenses = net income D. Net income = expenses -.
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  True / False Questions 1. Creating an innovative product that meets many users' needs is sufficient in today's volatile global marketplace. 2. The customer value of a product refers to anything a buyer must give up to obtain the benefits the product provides. 3. Trying to determine customers' true needs is difficult because no.
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  True / False Questions 1. The terms accounting and bookkeeping are interchangeable. 2. In accounting, a ledger is a time-ordered list of accounting transactions. 3.  Non-business entities typically obtain revenues through the sale of their assets. 4. The balance sheet indicates what an organization owns or controls. 5. Cash from investing activities is calculated from changes.
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  41. LCG Inc., a mobile manufacturing company, is launching its new product in the market. The managers at LCG want to price the product in a way that would enable the company to recover the investments made toward developing the product. Which pricing strategy would be most effective for LCG Inc..
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  51. Which of the following products is most suitable for selling through a total-market approach?  A. Luxury cars B. Anti-aging creams C. Salt and sugar D. Jewelry items E. Consumer electronics 52. Why does the total-market approach work best for sellers of salt and sugar?  A. Prices of these products keep fluctuating. B. These products are catered mostly to women. C. Customer bases for these products are concentrated around.
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  61. Which of the following statements is true of employee stock ownership plans?  A. They encourage employees to become involved in strikebreaking. B. They create a sense of partnership between a firm and its employees. C. They reduce employee morale and productivity. D. They increase the possibility of lockouts. E. They are applicable only to senior employees of a firm. 62. _____ are.
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  81. Which of the following is an example of a reference group?  A. People within a particular social class who develop common patterns of behavior B. A group of people who buy products in keeping with their social status C. Teenagers who do not agree with the buying options offered to them by their parents D. Close family members.
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  31. Which of the following statements is true of social networking?  A. Social networks have existed in some form or other for 40 years. B. As the number of social network users increases, interactive marketers are finding it difficult to access new target markets. C. Professionals such as professors, doctors, and engineers are yet to start using.
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  31. Which of the following is an appropriate strategy for products at the decline stage of the product cycle?  A. Phasing out products B. Manufacturing more products C. Increasing marketing budget D. Spending money on research E. Emphasizing products' benefits 32. Which of the following activities is associated with identifying products?  A. Marketing B. Producing C. Branding D. Distributing E. Pricing 33. A _____ is a brand that is legally protected from use by any.
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  51.  _____ is the most popular mobile photo sharing application which allows users to make their photos look dreamy or retrospective with different tints and then share them with their friends.   A.  Flickr B.  Instagram C.  MySpace D.  Orkut E.  Six Degrees 52.  _____ is a photo sharing bulletin board.
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  81. Which of the following aspects of the mediation process distinguishes it from conciliation?  A. A mediator's role is to provide a binding and enforceable solution to the problems affecting the management and labor unions. B. A mediator's role is to suggest or propose a solution to the problems affecting the management and labor unions. C. A.
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  41. Which of the following is a drawback associated with blogs?  A. Blogs once written cannot be removed. B. Blogs are highly regulated and companies are not allowed to make any tall claims. C. Bloggers charge companies for writing reviews of products. D. Consumers can write bad reviews of products in their blogs, which leads to negative publicity. E. Companies are.
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