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.

Question 2

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 3

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 4

What is revenue?

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 5

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

Question 6

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 7

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 8

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 9

Human resources management includes the policies, plans, and procedures for the effective management of employees (human resources).

Accepted Answer

A) True 
 B)False

Question 10

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 11

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

Accepted Answer

Accounting provides quantitative informa

Question 12

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

Question 13

What is the function of the marketing 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 14

Define the three common business forms.

Accepted Answer

Sole proprietorship: The sole proprietor

Question 15

What is the fundamental difference found in a limited partnership?

Accepted Answer

A) Only one partner is responsible for all of the partnership's losses. 
B) Both partners are responsible for all of the partnership's losses. 
C) Both partners are protected from being responsible for all of the partnership's losses. 
D) None of these. 
A) Only one partner is responsible for all of the partnership's losses. 
B) Both partners are responsible for all of the partnership's losses. 
C) Both partners are protected from being responsible for all of the partnership's losses. 
D) None of these.

Question 16

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 17

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 18

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 19

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 20

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

Exam 20: B: Extension: A Business Basics

What is a dividend?

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

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 revenue?

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?

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

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

What is operations management?

Human resources management includes the policies, plans, and procedures for the effective management of employees (human resources).

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

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

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

What is the function of the marketing department?

Define the three common business forms.

What is the fundamental difference found in a limited partnership?

Which of the following represents geographic segmentation?

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 is management information systems?

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

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

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 Information Databases

Accessing Organizational Information Data Warehouses

Understanding Big Data and Its Impact on Business

Enabling the Organization Decision Making

Extending the Organization Supply Chain Management

Building a Customer-Centric Organization Customer Relationship Management

Integrating the Organization From End to End Enterprise Resource Planning

Creating Innovative Organizations

E-business

Creating Collaborative Partnerships

Integrating Wireless Technology in Business

Developing Software to Streamline Operations

Methodologies for Supporting Agile Organizations

Managing Organizational Projects

B: Extension: A Business Process

B: Extension: A Hardware and Software Basics

B: Extension: A Mis Infrastructures

B: Extension: A Networks and Telecommunications

B: Extension: A Information Security

B: Extension: A Ethics

B: Extension: A Operations Management

B: Extension: A Sustainable Mis Infrastructures

B: Extension: A Business Intelligence

B: Extension: A Global Information Systems

B: Extension: A Global Trends

Filters