Deck 4: Operations: How Will I Organize the Work

Question 1

Equipment or materials you already own and will use in your business, are considered to be part of your investment in the business.

Answer 1

True

Question 2

Which of the following is not a management "tip" offered by the text?

A) punish swiftly.
B) measure behaviour.
C) take responsibility for employee well-being.
D) reward improvement.

Answer 2

A

Question 3

T F It is generally best for a small business to pay an accountant to perform the day-to-day bookkeeping chores.

Answer 3

False

Question 4

Customer files are typically maintained with database software.

Question 5

The credit requirements for leasing equipment:

A) are about the same as for purchasing the equipment.
B) are more stringent than for purchasing the equipment.
C) are much less than for purchasing the equipment.
D) There are no credit requirements for leasing equipment.

Question 6

In Canada, a business can be incorporated through:

A) the federal government.
B) a provincial government.
C) the federal or a provincial government.
E) the federal, a provincial or a municipal government.

Question 7

Which of the following is a major consideration when setting up an office?

A) personal work habits.
B) visitors.
C) ergonomics.
D) All are major concerns.

Question 8

Zoning for land use comes under Federal jurisdiction.

Question 9

Which of the following techniques involves a Bar Graph?

A) flow chart.
B) Gantt chart.
C) PERT. chart.
D) sequential list.

Question 10

Logistics is about:

A) logical decision making processes.
B) assessing the feasibility of any given business venture.
C) planning, procurement, transportation and storage.
D) a logical series of quality control procedures.

Question 11

The Canadian Federation of Independent Business is a lobby group.

Question 12

Financial transactions are recorded in a chart of accounts.

Question 13

The purpose of a purchasing system is to:

A) avoid running out of inventory or supplies.
B) reduce inventory costs.
C) both of the above.
D) none of the above.

Question 14

Ergonomics is about selecting equipment that:

A) is comfortable.
B) that is visually pleasing.
C) that reduces eye, joint and muscle strain.
D) none of the above.

Question 15

A corporation may be registered with either the Federal Government or a Provincial Government.

Question 16

The traditional assembly line is an example of:

A) process set-up.
B) product set-up.
C) free-low layout
D) service set up.

Question 17

According to the text, the first step in setting up an accounting system is to prepare a "chart of accounts."

Question 18

"Bookkeeping" and "accounting" are interchangeable terms.

Question 19

"Accountability" refers to those things on which a person's performance will be measured.

Question 20

Cash that a sole proprietor takes out of the business for his/her personal use is called:

A) dividends.
B) benefits.
C) drawings.
D) personal incentive.

Question 21

A list of all the particular areas in which a business expects to have transactions is called a of .

Question 22

Identify four broad Functions of Management and explain ways each can be carried out.

Question 23

Identify the major ways in which small businesses are involved with government and explain why these can be a source of frustration to the business owner.

Question 24

is a term that originally applied to the planning and carrying out of military movements.

Question 25

An office is basically a place for processing and storing .

Question 26

Dental care, drug plans and disability insurance are examples of employee .

Question 27

Briefly identify and explain three main considerations for the layout of retail space.

Question 28

Pick one type of chart or graph that can be used to control businesses processes. Sketch an example and explain how it can be used.

Question 29

A business in Canada is required to collect GST if it has sales in excess of $ .