Question 1

What is a dividend?

Accepted Answer

A)  A distribution of earnings to shareholders 
B)  Refers to the amount earned resulting from the delivery or manufacture of a product or from the rendering of a service 
C)  Refer to the costs incurred in operating and maintaining a business 
D)  Anything owned that has value or earning power 
A)  A distribution of earnings to shareholders 
B)  Refers to the amount earned resulting from the delivery or manufacture of a product or from the rendering of a service 
C)  Refer to the costs incurred in operating and maintaining a business 
D)  Anything owned that has value or earning power A

Question 2

What involves analyzing business operations for internal decision making and does not have to follow any rules issued by standard-setting bodies such as GAAP?

Accepted Answer

A)  Accounting 
B)  Bookkeeping 
C)  Financial accounting 
D)  Managerial accounting 
A)  Accounting 
B)  Bookkeeping 
C)  Financial accounting 
D)  Managerial accounting D

Question 3

A loss occurs when businesses sell products or services for less than they cost to produce.

Accepted Answer

A) True 
 B)False  True

Question 4

Which of the following is not a type of business?

Accepted Answer

A)  Sole partnership 
B)  Partnership 
C)  Limited partnership 
D)  Corporation 
A)  Sole partnership 
B)  Partnership 
C)  Limited partnership 
D)  Corporation

Question 5

For-profit corporations primarily focus on making money and all profits and losses are shared by the business owners.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is not accomplished by human resources management?

Accepted Answer

A)  Employee recruitment 
B)  Employee training 
C)  Employee vacation scheduling 
D)  Employee appraisals 
A)  Employee recruitment 
B)  Employee training 
C)  Employee vacation scheduling 
D)  Employee appraisals

Question 7

Describe a transaction and its importance to the accounting department.

Accepted Answer

All businesses operate using the same ba

Question 8

Which of the following is not a part of the marketing mix?

Accepted Answer

A)  Product 
B)  Price 
C)  Point 
D)  Promotion 
A)  Product 
B)  Price 
C)  Point 
D)  Promotion

Question 9

What involves preparing financial reports that provide information about the business's performance to external parties such as investors, creditors, and tax authorities?

Accepted Answer

A)  Accounting 
B)  Bookkeeping 
C)  Financial accounting 
D)  Managerial accounting 
A)  Accounting 
B)  Bookkeeping 
C)  Financial accounting 
D)  Managerial accounting

Question 10

What is the function of the sales department?

Accepted Answer

A)  Deals with the strategic financial issues associated with increasing the value of the business while observing applicable laws and social responsibilities 
B)  Includes the policies, plans, and procedures for the effective management of employees 
C)  The function of selling a good or service and focuses on increasing customer sales, which increases company revenues 
D)  The process associated with promoting the sale of goods or services. The marketing department supports the sales department by creating promotions that help sell the company's products 
A)  Deals with the strategic financial issues associated with increasing the value of the business while observing applicable laws and social responsibilities 
B)  Includes the policies, plans, and procedures for the effective management of employees 
C)  The function of selling a good or service and focuses on increasing customer sales, which increases company revenues 
D)  The process associated with promoting the sale of goods or services. The marketing department supports the sales department by creating promotions that help sell the company's products

Question 11

List and describe the seven departments commonly found in most organizations.

Accepted Answer

Accounting provides quantitative informa

Question 12

Which of the following is not one of the four phases in the product life cycle?

Accepted Answer

A)  Growth 
B)  Decline 
C)  Place 
D)  Introduction 
A)  Growth 
B)  Decline 
C)  Place 
D)  Introduction

Question 13

Which of the following financial statements gives an accounting picture of property owned by a company and of claims against the property on a specific date?

Accepted Answer

A)  Balance sheet 
B)  Statement of owner's equity 
C)  Statement of cash flows 
D)  Income statement 
A)  Balance sheet 
B)  Statement of owner's equity 
C)  Statement of cash flows 
D)  Income statement

Question 14

Define the relationship between sales and marketing, along with a brief discussion of the marketing mix.

Accepted Answer

Sales is the function of selling a good

Question 15

What is the division of a market into similar groups of customers?

Accepted Answer

A)  Market management 
B)  Market mix 
C)  Market communications 
D)  Market segmentation 
A)  Market management 
B)  Market mix 
C)  Market communications 
D)  Market segmentation

Question 16

Define business process reengineering and explain how an organization can use IT to transform its business.

Accepted Answer

A business process is a standardized set

Question 17

Which form of business recommends a legal agreement between two or more business partners that outlines core business issues?

Accepted Answer

A)  Sole proprietorship 
B)  Partnership 
C)  Corporation 
D)  LLC 
A)  Sole proprietorship 
B)  Partnership 
C)  Corporation 
D)  LLC

Question 18

What is operations management?

Accepted Answer

A)  A field concerned with the use of technology in managing and processing information 
B)  The function of selling a good or service and focuses on increasing customer sales, which increases company revenues 
C)  The function that plans for, develops, implements, and maintains IT hardware, software, and the portfolio of applications that people use to support the goals of an organization 
D)  The management of systems or processes that convert or transforms resources into goods and services 
A)  A field concerned with the use of technology in managing and processing information 
B)  The function of selling a good or service and focuses on increasing customer sales, which increases company revenues 
C)  The function that plans for, develops, implements, and maintains IT hardware, software, and the portfolio of applications that people use to support the goals of an organization 
D)  The management of systems or processes that convert or transforms resources into goods and services

Question 19

What is a means to conduct a periodic check on the company's financial health?

Accepted Answer

A)  Internal rate of return (IRR) 
B)  Return on investment (ROI) 
C)  Cash flow analysis 
D)  Break-even analysis 
A)  Internal rate of return (IRR) 
B)  Return on investment (ROI) 
C)  Cash flow analysis 
D)  Break-even analysis

Question 20

What is calculated by dividing the firm's sales by the total market sales for the entire industry?

Accepted Answer

A)  Break-even point 
B)  IRR 
C)  Market share 
D)  Income statement 
A)  Break-even point 
B)  IRR 
C)  Market share 
D)  Income statement

Exam 20: Business Driven Technology

What is a dividend?

What involves analyzing business operations for internal decision making and does not have to follow any rules issued by standard-setting bodies such as GAAP?

A loss occurs when businesses sell products or services for less than they cost to produce.

Which of the following is not a type of business?

For-profit corporations primarily focus on making money and all profits and losses are shared by the business owners.

Which of the following is not accomplished by human resources management?

Describe a transaction and its importance to the accounting department.

Which of the following is not a part of the marketing mix?

What involves preparing financial reports that provide information about the business's performance to external parties such as investors, creditors, and tax authorities?

What is the function of the sales department?

List and describe the seven departments commonly found in most organizations.

Which of the following is not one of the four phases in the product life cycle?

Which of the following financial statements gives an accounting picture of property owned by a company and of claims against the property on a specific date?

Define the relationship between sales and marketing, along with a brief discussion of the marketing mix.

What is the division of a market into similar groups of customers?

Define business process reengineering and explain how an organization can use IT to transform its business.

Which form of business recommends a legal agreement between two or more business partners that outlines core business issues?

What is operations management?

What is a means to conduct a periodic check on the company's financial health?

What is calculated by dividing the firm's sales by the total market sales for the entire industry?

Business Driven Technology

Identifying Competitive Advantages

Strategic Initiatives for Implementing Competitive Advantages

Measuring the Success of Strategic Initiatives

Organizational Structures That Support Strategic Initiatives

Valuing and Storing Organizational Informationdatabases

Accessing Organizational Informationdata Warehouses

Understanding Big Data and Its Impact on Business

Enabling the Organizationdecision Making

Extending the Organizationsupply Chain Management

Building a Customer-Centric Organizationcustomer Relationship Management

Integrating the Organization From End to Endenterprise Resource Planning

Creating Innovative Organizations

Ebusiness

Creating Collaborative Partnerships

Integrating Wireless Technology in Business

Developing Software to Streamline Operations

Methodologies for Supporting Agile Organizations

Managing Organizational Projects