Question 1

What is management information systems?

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)  A general name for the business function and academic discipline covering the application of people, technologies, and procedures-collectively called information systems-to solve business problems 
D)  Includes the methods, tasks, and techniques organizations use to produce 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)  A general name for the business function and academic discipline covering the application of people, technologies, and procedures-collectively called information systems-to solve business problems 
D)  Includes the methods, tasks, and techniques organizations use to produce goods and services

Question 2

What refers to the amount earned resulting from the delivery or manufacture of a product or from the rendering of a service?

Accepted Answer

A)  Expense 
B)  Profit 
C)  Loss 
D)  Revenue 
A)  Expense 
B)  Profit 
C)  Loss 
D)  Revenue

Question 3

Partnership agreements typically include all of the following, except:

Accepted Answer

A)  Expectations for sharing profits and losses 
B)  Partner's salary requirements 
C)  Methods for conflict resolution 
D)  Shareholder's expectations for a successful business 
A)  Expectations for sharing profits and losses 
B)  Partner's salary requirements 
C)  Methods for conflict resolution 
D)  Shareholder's expectations for a successful business

Question 4

What is information technology?

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)  Includes the methods, tasks, and techniques organizations use to produce 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)  Includes the methods, tasks, and techniques organizations use to produce goods and services

Question 5

Identify the four primary financial statements used by most organizations.

Accepted Answer

Balance sheet - The balance sheet gives

Question 6

Define the three common business forms.

Accepted Answer

Sole proprietorship - The sole proprieto

Question 7

Accounting deals with the strategic financial issues associated with increasing the value of the business while observing applicable laws and social responsibilities.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following represents psychographic segmentation?

Accepted Answer

A)  Based on regional variables such as region, climate, population density, and population growth rate 
B)  Based on variables such as age, gender, ethnicity, education, occupation, income, and family status 
C)  Based on variables such as values, attitudes, and lifestyles 
D)  Based on variables such as usage rate, usage patterns, price sensitivity, and brand loyalty 
A)  Based on regional variables such as region, climate, population density, and population growth rate 
B)  Based on variables such as age, gender, ethnicity, education, occupation, income, and family status 
C)  Based on variables such as values, attitudes, and lifestyles 
D)  Based on variables such as usage rate, usage patterns, price sensitivity, and brand loyalty

Question 9

What is the rate at which the net present value of an investment equals zero?

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 10

What tracks and communicates changes in the shareholder's earnings?

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 11

Which of the following is not a reason to increase market share?

Accepted Answer

A)  Economies of scale 
B)  Reputation 
C)  Increased bargaining power 
D)  Nearing production capacity 
A)  Economies of scale 
B)  Reputation 
C)  Increased bargaining power 
D)  Nearing production capacity

Question 12

What describes the basic transaction data such as its date, purpose, and amount and includes cash receipts, canceled checks, invoices, customer refunds, employee time sheet, etc?

Accepted Answer

A)  Balance sheet 
B)  Source document 
C)  Transaction 
D)  Financial statement 
A)  Balance sheet 
B)  Source document 
C)  Transaction 
D)  Financial statement

Question 13

What is a standardized set of activities that accomplishes a specific task, such as processing a customer's order?

Accepted Answer

A)  Transaction 
B)  Business process 
C)  Expense 
D)  Marketing 
A)  Transaction 
B)  Business process 
C)  Expense 
D)  Marketing

Question 14

What occurs when businesses sell products or services for more than they cost to produce?

Accepted Answer

A)  Expense 
B)  Profit 
C)  Loss 
D)  Revenue 
A)  Expense 
B)  Profit 
C)  Loss 
D)  Revenue

Question 15

Which of the following represents geographic segmentation?

Accepted Answer

A)  Based on regional variables such as region, climate, population density, and population growth rate 
B)  Based on variables such as age, gender, ethnicity, education, occupation, income, and family status 
C)  Based on variables such as values, attitudes, and lifestyles 
D)  Based on variables such as usage rate, usage patterns, price sensitivity, and brand loyalty 
A)  Based on regional variables such as region, climate, population density, and population growth rate 
B)  Based on variables such as age, gender, ethnicity, education, occupation, income, and family status 
C)  Based on variables such as values, attitudes, and lifestyles 
D)  Based on variables such as usage rate, usage patterns, price sensitivity, and brand loyalty

Question 16

What is an asset?

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

Question 17

What is the analysis and redesign of workflow within and between enterprises?

Accepted Answer

A)  Business process 
B)  Management information system 
C)  Transaction 
D)  Business process reengineering 
A)  Business process 
B)  Management information system 
C)  Transaction 
D)  Business process reengineering

Question 18

Break-even analysis is the point at which revenues equal costs.

Accepted Answer

A) True 
 B)False

Question 19

What is a hybrid entity that has the legal protections of a corporation and the ability to be taxed (one time) as a partnership?

Accepted Answer

A)  Limited partnership 
B)  Limited liability corporation 
C)  Limited proprietorship 
D)  Limited shareholder 
A)  Limited partnership 
B)  Limited liability corporation 
C)  Limited proprietorship 
D)  Limited shareholder

Question 20

What reports operating results (revenues minus expenses) for a given time period ending at a specified 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

Exam 20: Business Driven Technology

What is management information systems?

What refers to the amount earned resulting from the delivery or manufacture of a product or from the rendering of a service?

Partnership agreements typically include all of the following, except:

What is information technology?

Identify the four primary financial statements used by most organizations.

Define the three common business forms.

Accounting deals with the strategic financial issues associated with increasing the value of the business while observing applicable laws and social responsibilities.

Which of the following represents psychographic segmentation?

What is the rate at which the net present value of an investment equals zero?

What tracks and communicates changes in the shareholder's earnings?

Which of the following is not a reason to increase market share?

What describes the basic transaction data such as its date, purpose, and amount and includes cash receipts, canceled checks, invoices, customer refunds, employee time sheet, etc?

What is a standardized set of activities that accomplishes a specific task, such as processing a customer's order?

What occurs when businesses sell products or services for more than they cost to produce?

Which of the following represents geographic segmentation?

What is an asset?

What is the analysis and redesign of workflow within and between enterprises?

Break-even analysis is the point at which revenues equal costs.

What is a hybrid entity that has the legal protections of a corporation and the ability to be taxed (one time) as a partnership?

What reports operating results (revenues minus expenses) for a given time period ending at a specified date?

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