Business Ed
54.
A.
Refer to 66 A family wants to buy a new and is trying to decide between four different car and car loan options. Which of the loans would require them to pay the least amount of money overall, including the down payment and the monthly payment? A. A B. B C. C D.D
A. A
29. In which of the following leadership styles does a leader make all decisions and tell subordinates what to do to and how to do it? A. Authoritarian B. Democratic C. Existential D. Laissez-faire
A. Authoritarion
The Sherman Antitrust Act prohibits which of the following? A. Conspiracy to control prices. B. Deceptive pricing. C. Distribution of illegal products D. Price maintenance agreements
A. Conspiracy to control prices.
57. Which of the following reflects the idea that consumers drive the economy because their preferences affect business decisions regarding production? A. Consumerism B. Consumer Activism C. Consumer sovereignty D. Consumer therapy
A. Consumerism
59. The major goal of the cooperative educational program is to help the students to A. DEVELOP THE ABILITY TO TRANSFER WHAT THEY HAVE LEARNED AT SCHOOL TO THE JOB AND VICE A VERSA B. understand the importance of good work habits in the maintenance of a smooth running business C. learn to work without requiring close supervision D. obtain a job closely related to their major fields of study
A. DEVELOP THE ABILITY TO TRANSFER WHAT THEY HAVE LEARNED AT SCHOOL TO THE JOB AND VICE A VERSA
36. Which of the following is an ethically sound practice when communicating a business message? A. Designing documents to emphasize key points for readers B. Including input from all parties interested in the development of the message C. Manipulating the message to achieve the desired outcome D. Withholding information to reduce the likelihood of conflict
A. Designing documents to emphasize key points for readers
Verbal cues can help an audience determine which of the following during a speech? A. Experience B. Influence C. Power D. Responsiveness
A. Experience
Which of the following combinations of policies would the federal government most likely during a recession? A. Increasing government spending and increasing money supply B.Decreasing government spending and increasing the money supply C.Increasing taxes and decreasing the money supply D. Decreasing taxes and decreasing the money supply
A. Increasing government spending and increasing money supply
What is the most likely impact of an increase in interest rates? A. Investment levels diminish B. Employment increases C. The value of the US dollar decreases D. Mortgage rates decline
A. Investment levels diminish
Which of the following statements best describes a mutual fund? A. It is an open-ended fund operated by an investment company that raises money from shareholders and invests in a group of assets. B. It is a registered, nontransferable bond issued by the US government and backed by its full faith and credit. C. It is a negotiable instrument drawn against deposited funds to pay a specified amount of money to a specific person on demand. D. Is is a debt investment in which an investor loans money to an entity that borrows the funds for a defined period of time at a fixed interest rate.
A. It is an open-ended fund operated by an investment company that raises money from shareholders and invests in a group of assets.
If a government implements an immport tariff on consumer electronics, what is it most likely trying to accomplish? A. It is trying to protect its domestic consumer electronics industry from competition B. I t is trying to decrease the cost of imported consumer electronics C. It is trying to discourage domestic companies from producing consumer electronics D. It is trying to increase competition and lower prices in the consumer electronics indusstry
A. It is trying to protect its domestic consumer electronics industry from competition
A business education teacher is designing a lab to permit student access to a networked classroom scanner, printer, and modem. Which network would be most appropriate? A. LAN B. WAN C. intranet D. Internet
A. LAN
68. The level of disposable income indicates which of the following? A. Level of available buying power B. The future of business spending trends C. A forecast of business activities D. The current level of consumer confidence
A. Level of available buying power
56. A drastic increase in oil prices would most likely have which of the following effects on the United States economy? A. Reduced inflation and stimulated economy B. Increased inflation and reduced economic growth C. Increased inflation and stimulated economy D. Reduced inflation and reduced economic growth
A. Reduced inflation and stimulated economy
Which of the following best describes the situation after the price is raised on a product that has an inelastic demand? A. The quantity demanded will not change. B. The quantity demanded will increase. C. The revenue will decrease. D. Total revenue will not change.
A. The quantity demanded will not change.
If the government places a price ceiling on leather garment that is below the equilibrium price, which of the following will occur in the market for leather garments? A. There will be a shortage B. There will be a surplus C. The demand curve for leather garments will shift leftward. D.The supply curve for leather garments will shift rightward.
A. There will be a shortage
35. The law of demand states that A. a decline in the price of a good will tend to cause consumers to purchase more of that good B. an increase in the price of a good will tend to cause consumers to purchase more of that good C. an increase in the demand for a good will tend to cause the price of the good to decrease D. a decrease in the demand for a good will tend to cause the price of the good to increase
A. a decline in the price of a good will tend to cause consumers to purchase more of that good
A student consistently submits timed writings that contain errors similar to those shown below. The manager recieved the report with the notation that the fegures are encorrect on the last pagi. The teacher wants to give the student drills that will help with the specific problems the student is having. The teacher should give the student A. adjacent-key drills. B. difficult-reach drills. C. down-reach stroking drills. D. speed-building drills.
A. adjacent-key drills.
Where should supplementary information be placed in a business report? A. appendix B. bibliography C. footnote D. subsection
A. appendix
98. The first step in the employment process for job candidates is A. assessing their career interest and qualifications B. developing an extensive resume to send to prospective employers C. locating job opportunities at the most desirable companies D. researching salary, benefits and job security in a chosen field
A. assessing their career interest and qualifications
The goal of business writing is to produce a message that is purposeful, economical, and A. audience oriented B. company oriented C. writer oriented D. aesthetically pleasing
A. audience oriented
78. Raven must compare her divisions sales over the past five years. She wants this comparison to provide a quick assesment of which years were average and below average. Which of the following of presentation would work best for Raven? A. bar chart B. pie chart c. statistical chart d. tabular chart
A. bar chart
45. Opportunity cost is the cost of A. choosing one alternative over another B. developing a new product for the market C. redesigning an existing product for a new market D. operating a new business
A. choosing one alternative over another
A contract between an employer and a union covering all issues related to employment is a(an) A. collective bargaining agreement. B. employment-at-will agreement. C. implied covenant. D. right-to-work agreement.
A. collective bargaining agreement
93. Which of the following approaches to business education curricula is LEAST consistent with current job-market trends? A. concentration on job-specific office training B. concern for the impact of technology on job responsibilities of office workers C. emphasis on broad transfereable skills for both employment and personal use D. strong focus on developing critical thinking skills
A. concentration on job-specific office training
A store or group of stores owned and controlled by the customers is most commonly called a A. cooperative B. one-line store C. specialty shop D. voluntary chain
A. cooperative
80. In most cases, if a new business is to continue beyond the life of its owner or owners, the business should be organized as a A. corporation B. cooperative C. limited partnership D. sole proprietorship
A. corporation
84. A persuasive resume A. emphasizes skills and achievement aimed at a particular job or company B. minimizes the length of the document to one page C. is printed on high quality stationary paper using a high reolution printer D. is accessible to digital scanning
A. emphasizes skills and achievement aimed at a particular job or company
The primary role of business partnerships with a business technology education department is to A. extend learning beyond the classroom. B. provide community service for the partner's employees. C. be visible in the school. D. serve as a replacement/substitute for the classroom teacher
A. extend learning beyond the classroom.
97. Which opf the following entreprenuerial actions is ethical and illegal? A. giving a gift of 25k to a foriegn governmental representative to secure a business contract with his country and then writing off the gift as a tax-deductible item. B. advertising a new fuel additive that will increase gas mileage by 20% C. offering a member of the city council 50k to vote to give an entreprenuer a weekly time slot on the local cable tv network D. Obtaining inside finanacial information that results in the entrepreneur netting more than $1 million
A. giving a gift of 25k to a foriegn governmental representative to secure a business contract with his country and then writing off the gift as a tax-deductible item.
39. The main purpose of a primary key in a database is to A. help index data B. design format for data C. store template for data D. serve as a reminder system
A. help index data
52. The gross domestic product (GDP) an be defined as the A. monetary value of all final goods and services produced in a given year B. monetary value of all economic resources used in production in a given year C. monetary value of all capital gains minus liabilities incurred in a given year D. national income minus all non income charges against output in a given year
A. monetary value of all final goods and services produced in a given year
61. The underlying premise of competency-based programs in business education is that A. objectives should direct instruction B. students are evaluated in relation to their peers C. mastery of all competencies is necessary for entry level employment D. objectives need to be shared with students
A. objectives should direct instruction
Which of the following situations is legal under copyright law? A. permitting students to copy public domain software B. making a copy of the science teacher's new computer grade book software C. permitting one student to copy a software publisher's new spreadsheet program D. allowing the administrative office at the school to copy new word processing software
A. permitting students to copy public domain software
. A memorandum is a business document A. primarily used to communicate within an organization. B. that contains all parts used in a business letter. C. considered to be more formal than a typical business letter. D. that requires a signature line.
A. primarily used to communicate within an organization.
32. When a business posts employment openings with required skill descriptions, it is using the Internet to A. recruit employees B. train employees C. conduct financial activities D. assist the sales force
A. recruit employees
66. In cooperative education, the individualized statement of work to be done, which serves as a guide for on the job instruction and in school instruction is called a A. training plan B. work schedule C. job guide D. job description
A. training plan
How much interest would be due on a loan of $2500 at 11½% for 3 months? A. $ 7.19 B. $ 71.88 C. $287.50 D. $719.80
B. $ 71.88
REFER TO # 58 If investor D's stocks have an average return of 8.8% during the year, and Investor D's bonds have an average return of 5.2% what is the average overall return on Investor D's portfolio? A. 14% B. 7% C. 5.6% D. Cannot be determined
B. 7%
24. Which of the following is NOT part of the business description segment of a business plan? A. A discussion of the industry background B. A description of any prototypes developed C. An explanation of the costs involved in testing D. A summary of target markets
B. A description of any prototypes developed
Which of the following is usually associated with hyperinflation? A. A rapid increase in total spending B. A rapid increase in money supply C. A slow increase in exports D. A slow increase in labor productivity
B. A rapid increase in money supply
Which of the investors in #58 has the portfolio that is exposed to the greatest amount of risk? A. A B. B C. C D. D
B. B
27. The Federal Reserve and its member banks are controlled by the A. President of the United States B. Board of Governors C. Federal Trade Commission D. Federal Deposit Insurance Corporation
B. Board of Governors
Which of the following computer languages was designed for business usage? A. BASIC B. COBOL C. FORTRAN D. JAVA
B. COBOL
Which of the following actions by the Federal Reserve System would be most likely to increase consumer spending? A. Increasing the discount rate to member banks. B. Decreasing the discount rate to member banks. C. Selling large amounts of government securities D. Keeping reserve requirements of member banks constant.
B. Decreasing the discount rate to member banks.
Which of the following defenses may NOT be used to legally avoid payment on a negotiable instrument? A. Breach of contract B. Diminished economic resources C. Fraud in the inducement D. Mental incapacity
B. Diminished economic resources
47. Which of the following is commonly used in e-commerce, such as sending orders to warehouses, tracking shipments, and creating invoices between different computer systems? A. ATM B. EDI C. EFT D. FTP
B. EDI
Given a case of sexual harassment in an office situation, the appropriate organization to contact is the A. AAUW. B. EEOC. C. NBEA. D. OSHA.
B. EEOC.
18. Which of the following is the process of putting a person's thoughts into signs or symbols? A. Decoding B. Encoding C. Relay Transmission D. Transmission
B. Encoding
Tomorrow's Business Leader is a publication of A. BPA. B. FBLA. C. ISBE. D. NBEA.
B. FBLA.
Which of the following protocols is used to transport HTML pages from Web servers to Web browsers? A. BOOTP B. HTTP C. SNMP D. SMTP
B. HTTP
82. Which of the following stages in the product life cycle ussually occurs first? A. Growth B. Market introduction C. Mature D. Saturation and decline
B. Market introduction
When Corp. X pays out $300,000 in salaries, which of the following is the impact on assets and liabilities? A. Salary expense is increased by $300,000: cash is increased by $300,000 B. Salary expense is increased by $300,000: cash is decreased by $300,000 C. Salary expense is decreased by $300,000: cash is increased by $300,000 D. Salary expense is decreased by $300,000: cash is decreased by $300,000
B. Salary expense is increased by $300,000: cash is decreased by $300,000
A receptionist is answering a multiline telephone system. Which procedure would be most effective for handling three incoming calls at one time? A. Answer line 1 and assist the caller to completion, allowing the other lines to continue ringing. B. Starting with line 1, answer the call and politely ask the caller to hold. Do the same with lines 2 and 3, then move back to line 1 and assist the callers in order. C. Starting with line 1, answer the call, politely ask the caller to hold, and then do the same with line 2. When answering line 3, assist the caller to completion, then move back to line 1. D. Answer line 1 and politely ask the caller to hold; then go to lines 2 and 3 and request each name and number in order to return those calls.
B. Starting with line 1, answer the call and politely ask the caller to hold. Do the same with lines 2 and 3, then move back to line 1 and assist the callers in order.
74. In a business plan, which of the following staements would be addressed in the organization and management strategy? A. Evaluation of the required lead time for acquiring materials and for the actual production process B. The functions that must be performed and who will be responsible for performing them C. The policies of the firm and its suppliers and customers regarding payments and collections D. The cost and availability of funds from external resources
B. The functions that must be performed and who will be responsible for performing them
If a country is a net exporter, this means that: A. The value of the goods that it imports exceeds the value of the goods that it exports B. The value of the goods that it exports exceeds the value of the goods that it imports C. I t exports consumer goods D. It has high tariffs
B. The value of the goods that it exports exceeds the value of the goods that it imports
64. The major focus of career and technical business education programs should be A. training a sufficient number of qualified students to meet local labor requirements B. being well informed about and teaching toward the needs of the business community C. offering computer literacy training in all levels D. providing placement services for successful students
B. being well informed about and teaching toward the needs of the business community
Law based on custom and shared throughout a state or country is referred to as A. administrative law. B. common law. C. constitutional law. D. legislative law.
B. common law.
After a business idea has been conceived and written, the next logical step in the planning process is to A. lease a site. B. conduct a market analysis. C. determine legal requirements. D. purchase equipment and supplies.
B. conduct a market analysis.
The actual rate of interest received on a savings account is called the A. annual rate B. effective rate C. nominal rate D. periodic rate
B. effective rate
Which of the following would be the last item to be placed within a business letter? A. closing B. enclosure notation C. reference initials D. signature line
B. enclosure notation
77. Erica is talking with a businessperson who is a native Chinese speaker. She used simple English and omitted puns but her listener misundesrstood message. Erica should A. repeat her message in a louder voice B. graciously accept the blame for not making her message clear C. terminate all business conversations until a translator can be found D. request the businessperson to repeat the original message in simple words
B. graciously accept the blame for not making her message clear
89. All of the following are functions of the Federal Reserve System EXCEPT A. regulation of the money supply B. implementing federal tax law C. supervising member banks D. providing a system of check collection and clearing
B. implementing federal tax law
Balance Sheet Assets Cash $15,500 Accounts Receivable 1,200 Inventory 6,300 Supplies 700 Equipment 1,000 Land and Building 50,000 Total Assets $74,000 Liabilities Accounts Payable $ 4,800 Notes Payable 6,300 Mortgage Payable 7,000 Total Liabilities $18,100 Capital Bill Smith $55,900 Total Liabilities and Capital $74,000 Assuming that a company has collected all outstanding receivables, analyze the above balance sheet to determine which strategy would most likely increase capital. A. increasing sales B. increasing facilities C. increasing accounts payable D. increasing inventory
B. increasing facilities
99. Which of the following communication styles uses gestures such as head nodding, hand shaking, and arm movement to communicate? A. haptic B. kinesic C. proxemic D. tactile
B. kinesic
An accounts payable entry appears in the A. asset section of the balance sheet B. liability section of the balance sheet C. cost of goods sold section of the income statement D. operating expense section of the income statement
B. liability section of the balance sheet
The above illustration is an example of which type of organizational chart? A. line organization B. line and staff organization C. project organization D. staff organization
B. line and staff organization
Which of the following is a telecommunications tool? A. database B. modem C. spreadsheet D. word processor
B. modem
67. Which of the following is defined as an entity's total assets minus its total liabilities? A. accounts receivable B. net worth C. cash receipts D. marginal profit
B. net worth
62. A retailer who prices shirts at $19.95 rather than $20.00 is most likely using a strategy known as A. discount pricing B. odd pricing C. prestige pricing D. list pricing
B. odd pricing
58. According to research, the competency most needed for success in most business occupations today is A. computer literacy B. communication skills C. records management D. time management
B.communication skills
34. If an appliance store buys a refrigerator for $550 and sells it for $825, the percentage markup on costs is? A. 33 1/3% B. 40% C. 50% D. 66 2/3%
C. 50%
Organizations often employ goal setting as a time management technique. Which attribute would be indicative of an effective goal? A. A goal should be set unrealistically high in order to encourage hard work. B. A goal should be vague enough to provide many opportunities to achieve it. C. A goal should have a deadline to determine when it has been accomplished. D. A goal should be rigid so there will be no alteration of the intended outcome.
C. A goal should have a deadline to determine when it has been accomplished.
69. Carlene wants to copy a formula in a spreadsheet across columns A10 thru C10 without having the change. Which of the types of reference should Carlene use? A. Relative B. Mixed C. Absolute D. Target
C. Absolute
If one is planning to start a small business, which should one do first? A. Obtain a business loan B. Find a partner C. Assess one's personal financial situation D. Choose a location for one's business
C. Assess one's personal financial situation
70. Which of the following is the most important objective for a student completing a business education curriculum? A. Awareness of business technology skills B. Knowledge of personal investing concepts C. Attainment of both business skills and knowledge D. Identification and operation of several types of computers
C. Attainment of both business skills and knowledge
Which of the four options listed in #66 would require the family to pay the least amount of interest, total? A. A B. B C. C D.D
C. C
Jacques, Hedwig, and Reyes want to form a business entity through which they can raise capital by selling equity shares to the public. Which of the following business structures should they adopt? A. LLC B. PC C. Corporation D. LLP
C. Corporation
An important source of information on the credit rating of retail business is. A. the Retail Merchants Association B. the local Chamber of Commerce C. Dun & Bradstreet, Inc. D. the United States Retail Credit Authority
C. Dun & Bradstreet, Inc.
88. In communicating with a businessperson for whom English is a second language, you should talk slowly, enunciate clearly, observe bodylanguage, check frequently for comprehension, and which of the following? A. Assume that the businessperson understands if he or she nods in agreement B. Avoid smiling, which might make you appear to lack seriousness C. Encourage accurate feedback by asking probing questions D. Use vocabulary words that will impress the businessperson
C. Encourage accurate feedback by asking probing questions
100. Which of the following accurately illustrates the creation process in sequential order? I. BACKGROUND OR KNOWLEDGE ACCUMULATION II. EVALUATION AND IMPLEMENTATION III. THE IDEA EXPERIENCE IV. THE INCUBATION PROCESS A. IV,I,III,II B. III, I, II, IV C. I, IV, III, II D. II, III, I, IV
C. I, IV, III, II
19. Which is the first step in the managerial decision making process? A. Solve a problem B. Evaluate a problem C. Identify an opportunity D. Generate alternative solutions to the problem
C. Identify an opportunity
A customer calls to speak with the company's manager, who is in a meeting and does not want to be interrupted. Which of the following is the most appropriate manner to handle this call? A. Determine the caller's identity and inform the caller that the manager is unavailable. B. Determine the caller's identity and inform the caller that the manager is meeting with the president and cannot be interrupted. C. Inform the caller that the manager is unavailable, determine the caller's identity, and offer to take a message or connect the caller to the manager's voice mail. D. Ask the caller to contact the manager tomorrow.
C. Inform the caller that the manager is unavailable, determine the caller's identity, and offer to take a message or connect the caller to the manager's voice mail.
Which of the following typically qualifies a person for unemployment benefits? A. Refusal to work B. Discharge for misconduct C. Involuntary termination D. Voluntary termination
C. Involuntary termination
76. Which of the following statements is true about strict liability in contracts? A. It requires proof of intent B. It requires a connection to the contract C. It does not requires a showing of negligence D. It does not apply to a third party in the contract
C. It does not requires a showing of negligence
If a potential business owner projects that she will need to invest $100,00 in equipment to start a dry cleaning business, and the business' monthly expenses or rent, insurance, and other incidentals is $5,000, how many months will it take for her to earn back her initial investment if the average monthly gross revenue is $8,000? A. Less than 9 months B. Less than 20 months C. Less than 34 months D. None of the above
C. Less than 34 months
30. Which of the following approaches is based on the use of incremental goal attainment that takes a new venture from start-up through strategy formulation? A. Comprehensive feasibility B. Entrepreneurial assessment C. Milestone planning D. Multidimensional
C. Milestone planning
48. If a firm pays $1,000 for furniture on account, which of the following statements about journal entries made for the transaction is true? A. Cash should be credited; Office Furniture should be debited B. Office expenses should be debited; accounts payable should be credited C. Office Furniture should be debited; Accounts Payable should be credited D. Accounts Payable and Office Furniture should be debited; Cash and individual payable account should be credited
C. Office Furniture should be debited; Accounts Payable should be credited
41. Kyle is a college graduate trying to secure an entry-level management position. Although he has relevant experience and a strong resume, his interviews have not led to employment. Kyle most likely needs to strengthen which of his following skills? A. Critical-thinking B. Leadership C. Oral communication D. Written communication
C. Oral communication
What is the fundamental basis of competition in a market with poorly differentiated products? A. Promotion B. Product placement C. Price D. Value proposition
C. Price
A federal income taxpayer should compare which of the following in order to decide whether or not to itemize deductions? A. Adjustment deductions and total personal exceptions B. Itemized deductions and adjustment deductions C. Standard deductions and itemized deductions D. Adjusted gross income and taxable income
C. Standard deductions and itemized deductions
Which of the following prescribes standards for wages and overtime pay that affect most private and public employment? A. The Employee Retirement Income Security Act B. The American Recovery and Reinvestment Act C. The Fair Labor Standards Act D. The Federal Employees' Compensation Act
C. The Fair Labor Standards Act
63. The search function in word processing is designed to locate A. spelling errors in a text B. a file on data disk C. a character or a set of characters in a text D. the source of a document on a data disk
C. a character or a set of characters in a text
65. Aperson who endorses a paycheck by simply signing his or her name on the back of the check is making a A. qualified endorsement B. restrictive endorsement C. blank endorsement D. full endorsement
C. blank endorsement
75. A balance sheet is best described as a A. flow statement listing net worth and sources of income B. flow statement listing sources of income and expenditures C. condition statement noting assets and claims against assets D. condition statement noting assts and incomes
C. condition statement noting assets and claims against assets
79. The market value of a share of common stock is equal to the A. book value of the stock B. par value of the stock C. current price at which the stock is trading D. liquidating value of the stock
C. current price at which the stock is trading
26. All of the following are trade barriers EXCEPT A. tariffs B. quotas C. dumpings D. voluntary export restraints
C. dumpings
44. The Wheeler - Lea Act prohibits firms from A. merging together in restraint of trade B. engaging in any form of collusion C. engaging in false advertising D. influencing exclusive pricing agreements
C. engaging in false advertising
An administrative assistant replaces a receptionist during lunch. The receptionist consistently returns from lunch 15 minutes late, delaying the start and end of the assistant's lunch hour. To maintain harmony and fairness in the office, the assistant's best approach is to A. inform the supervisor that she is returning late because she left late. B. ask another person to take over and leave as scheduled. C. explain to the receptionist that his/her late return causes her late return. D. discuss the situation with the other office workers for a solution.
C. explain to the receptionist that his/her late return causes her late return.
The total retail market value of all the goods and services produced in a nation, usually stated in annual term, is the A. ratio of profit to sales B. current ratio C. gross domestic product D. trade surplus
C. gross domestic product
60. Vance the owner of an apparel store, advised Julia, the store manager, to use her best judgement when selecting merchandise for the store. Vance's only caution was, " Do not buy designer jeans." Later Julia did purchase designer jeans from Casual Wear Inc., but they did not sell, causing a large inventory to buildup. Casual had no knowledge of Vance's directive to Julia not to buy designer jeans. Vance refused to pay. and Casual Wear sued for the purchase price. In this situation, Vance is not relieved from liability to pay for the jeans purchased by Julia because Julia A. had express authority to purchase jeans B. had implied authority to purchase jeans C. had apparent authority to purchase the jeans D. was an undisclosed principal
C. had apparent authority to purchase the jeans
A trade bloc is an arrangement between two or more countries to A. maintain a common wage rate. B. create a greater sense of cultural awareness. C. impose trade barriers to countries that are not a part of the trade bloc D. increase the exporting of goods while controlling the importing of goods among countries within the trade bloc.
C. impose trade barriers to countries that are not a part of the trade bloc
Which term identifies the process that occurs when an accountant analyzes a source document and makes an original entry? A. balancing B. footing C. journalizing D. posting
C. journalizing
The quick ratio and the current ration best indicate a company's A. efficiency B. growth rate C. liquidity D. profitablility
C. liquidity
96. A basic word-processing software program is LEAST likely to perform which of the following? A. permit spelling changes in a document B. search for and replace words C. locate word choice errors D. move paragraphs from one page to another
C. locate word choice errors
46. A written message is preferable to an oral one for all of the following situations EXCEPT A. explaining new office policies or procedures B. getting an immediate response C. minimizing undesirable emotions D. presenting extensive or complex financial data
C. minimizing undesirable emotions
Digital publishing software would be most appropriate for creating A. business letters. B. charts. C. newsletters. D. company files.
C. newsletters
Mr. Figueroa has been asked to develop a thematic approach to teaching an applied curriculum. The new curriculum will be used as the foundation for instructional delivery in the new career academy at his high school. Select the best source for Mr. Figueroa to gather research information on thematic learning. A. U. S. Department of Education B. local curriculum and instruction specialist C. online search engines via the Internet D. professional business education journals
C. online search engines via the Internet
95. The strategies used by a business to compete in the international marketplace depend on all of the following EXCEPT A. business size B. nature of the product C. patriotism of business D. targeted customers
C. patriotism of business
37. The Internet can help a business conduct all of the financial activities EXCEPT A. complete e-business transactions B. conduct online banking activities C. reduce the number of product defects D. track employee travel expenses
C. reduce the number of product defects
38. The entrepreneurial strategy matrix measures A. income and expenses B. new venture sales and profit C. risk and innovation D. unsecured loans that can be converted into stocks
C. risk and innovation
20. All of the following are reasons entrepreneurs reevaluate the markets in which they operate EXCPET to A. Determine their strengths and weaknesses B. identify current and future competitors C. select appropriate management styles D. observe the current products available in the market
C. select appropriate management styles
91. Human capital is best desribed as the A. development of robots in the industry B. rise of information technology C. skills and abilities of humans D. technological ideas of people
C. skills and abilities of humans
Which type of program is most efficient to use in projecting sales volume for a fiscal period? A. database B. communication C. spreadsheet D. word processing
C. spreadsheet
85. If a nation begins importing more goods and its exports remain constant, it will experience an increase in A. the value of its currency B. the number of foriegn markets for its products C. the outflow of its currency D. inflation
C. the outflow of its currency
A combination of slow economic growth and high inflation is called: a. Inflationary pressure b. Deflation c. Stagflation d. Disinflation
C: A combination of slow economic growth and high inflation is called stagflation. This can occur when slow economic growth (little or none of the wage and job increases that create demand) is coupled with price increases caused by external factors like rising energy costs.
2. A market in which product availability exceeds demand is called a: a. Free market b. Seller's market c. Buyer's market d. Black market
C: A market in which product availability is greater than product demand is called a buyer's market, because when supply (product availability) exceeds demand, the prices paid by buyers decrease. This decrease in prices benefits the buyer of a product and decreases the seller's profits.
Which of the following is not a responsibility of the Securities and Exchange Commission (SEC)? a. Regulating securities b. Investigating insider trading c. Setting interest rates d. Processing applications for initial public offerings (IPOs)
C: The Securities and Exchange Commission (SEC) is responsible for regulating securities, investigating insider trading, and processing applications for initial public offerings (IPOs) of stock. However, the Federal Reserve is responsible for setting interest rates.
3. The par value of a bond is the: a. Average interest rate paid by a given type of bond over subsequent issues b. Amount of time until the bond matures c. Amount paid when the bond matures d. Amount of interest that the bond pays
C: The par value of a bond is the value of the bond when it is issued. The par value is typically the amount that the bond issuer pays the buyer when the bond matures, as well.
The interest charge on $2,000 borrowed for one year at a simple interest rate of 12% is A. $120 B. $144 C. $220 D. $240
D. $240
Which of the following is the best source of objective information about a prospective employer that is publicly traded? A. Annual reports B. Press releases C. Newspaper articles D. 10-K filings with the SEC
D. 10-K filings with the SEC
Which of the following acts recognized business education as an integral part of vocational education? A. 1917, Smith Hugh Act B. 1939, George Deen Act C. 1946, George Barden Act D. 1963, Vocational Education Act
D. 1963, Vocational Education Act
25. All of the following are true of a database management system (DBMS) EXCEPT A. Storing, retrieving, sorting and organizing large amounts of information are faster and easier than with a manual database B. A database is divided into files, records, and fields C. In establishing a database, a user should consider the fields of information needed and how much information those fields must contain. D. All DBMS programs are equal in the amount of information that can be handled and the ease with which they can be used.
D. All DBMS programs are equal in the amount of information that can be handled and the ease with which they can be used.
51. Federal Funds for business education have tended mostly to support which of the following areas? A. Consumer education B. Economics instruction C. Personal development D. Career and technical skills
D. Career and technical skills
Which of the options listed in #66 woould require the family to pay the highest interest reate? A. A B. B C. C D. D
D. D
31. Which of the following is designed primarily to produce text and graphics using varying print sizes, fonts and images? A. Spreadsheet software B. Computer aided design software C. Computer graphics software D. Desktop publishing software
D. Desktop publishing software
40. Which of the following describes the generation of ideas that results in the improved efficiency or effectiveness of a system? A. Creativity B. Risk C. Vision D. Development
D. Development
73. Which of the following is an employee salary deduction that is, by law, matched by the employeer? A. Federal income tav B. State income tax C. State unemployment tax D. FICA tax
D. FICA tax
Which of the following is the government regulator for all securities firms operating in the United States? A. Federal Trade Commission B. Federal Deposit Insurance Corp. C. Federal Reserve Board D. Financial Industry Regulatory Authority
D. Financial Industry Regulatory Authority
83. Which of the follwing are factors for pricing decisions? I. Cost II. COMPETITION III. Customer value A. I & II only B. I & III ONLY C. II & III ONLY D. I, II & III
D. I, II & III
Which of the following would be an example of ergonomics? I Arranging a workstation II Positioning the keyboard and mouse III Eliminating glare from a monitor screen A. II only B. 1 & II only C I & III only D. I, II & III
D. I, II & III
Typical features of a purely capitalist economy include which of the following? I Government ownership of the means of production II Specialization of labor III Competition in a free market A. I only B. III only C. I & III only D. II & III only
D. II & III only
28. I. Preparing the worksheet and statements II. Journalizing III. Positng IV. Preparing the post-closing trial balance V. Making and closing entries Which of the following is the correct order of the accounting cycles steps listed above? A. I, II III V, IV B. I, III, II, IV, V C. II,I,III, IV, V D. II, III, I, V, IV
D. II, III, I, V, IV
When preparing a presentation, which of the following might make data-heavy text more reader friendly? A. providing an overview of the data B. Using italics on numbers C. Using double-spacing for all text D. Including relevant graphics with text
D. Including relevant graphics with text
50. Which of the following would be classified as Other Income on an income statement? A. Sales discount B. Merchandise Inventory C. Sales Return and Allowances D. Interest earned
D. Interest earned
Which of the following most accurately describes the function of the statute of frauds? A. It categorizes the types of fraudulent contracts. B.It outlines the characteristics of quasi contracts. C. It describes contracts that involve duress or undue influence. D. It lists the kinds of contracts that must be in writing.
D. It lists the kinds of contracts that must be in writing.
Which of the following organizations is the nation's largest professional organization devoted exclusively to serving individuals and groups engaged in teaching business education? A. BPA B. FBLA C. ISBE D. NBEA
D. NBEA
Which of the following best describes an entrepreneurial opportunity? A. Sales representative for a small biotech firm B. Marketing Manager for a new product about to be launched C. Head accountant in a newly franchised business D. Ownership in a small Internet start-up
D. Ownership in a small Internet start-up
A major difference between a general business education program and the capstone in a cooperative education program is that the capstone does NOT provide students with which of the following? A. Instruction in personality development B. Information about community awareness C. Introduction to a variety of career fields D. Preparation of technical skills
D. Preparation of technical skills
72.Which of the following teaching techniques would be best address the requirements for special needs students in business education? A. Lecturing on the importance of good study habits? B. Encouraging students to compete with their peers C. Using abstract examples and illustrations D. Providing repetition and review of lessons
D. Providing repetition and review of lessons
87. In a business letter, which of the following is most important focus of development? A. Jargon B. Organization C. Punctuation D. Purpose
D. Purpose
23. Which of the following remedies would a buyer most likely seek when a seller breaches a contract and refuses to give up a unique gold coin? A. Compensatory damages B. Exemplary (punitive damages) C. Nominal damages D. Specific performance
D. Specific performance
53. Which of the following best describes a macro in information processing? A.A grammar and style checker for verifying correct construction of sentences, word usage, and non-sexist language B. Two or more functions that may be viewed at the same time on the screen C. A program capable of importing and exporting text, graphics, voice, and video D. Stored keystrokes for frequently used functions that can be accessed with only one or two keystrokes
D. Stored keystrokes for frequently used functions that can be accessed with only one or two keystrokes
55.Which of the following is a set of protocols used to connect different computers to the Internet? A. FTP B. HTML C. SMTP D. TCP/IP
D. TCP/IP
21. What should a computer do to prevent screen induced eye-strain? A. Use eye drops regularly to prevent eye strain. B. Vary choice of programs to stimulate the eye C. Limit computer use to reduce eye strain D. Take periodic breaks and observe natural light to prevent eye strain.
D. Take periodic breaks and observe natural light to prevent eye strain.
Which of the following institutions is NOT a depository institution? A. A commercial bank B. A money market mutual fund C. A savings and loan institution D. The United States Treasury
D. The United States Treasury
Which of the following is the primary purpose of an accounting system? A. To develop financial statements in conformity with generally accepted accounting principles. B. To provide as much useful information to decision makers as possible. C. To record changes in the financial position of a company by applying the concepts of double entry accounting. D. To meet an organization's need for accounting information as efficiently as possible.
D. To meet an organization's need for accounting information as efficiently as possible.
Which of the following objectives supports the current trends and the government's role in international trade? A. To encourage diplomacy between countries B. To improve campaign financing regulations C. Ton increase the influence of the commerce department D. To reduce trade barriers such as tariffs and quatas
D. To reduce trade barriers such as tariffs and quatas
Frank is 33 years old and married, with 2 children. He has $40,000 in his retirement account, which is earning an average of 5% annually, and $10,000 in his personal savings account, which is earning 2% annually. He is current with his mortgage, and has $50,000 left to pay at a rate of 6%. Frank also has $30,000 in credit card debt with an average rate of 13%. If Frank want to increase his chances of retiring comfortably,m what would be the best way for him to spend a Christmas bonus of $10,000? A. Put it in his retirement account B. Put it in his savings account C. Use half to pay down his mortgage and save the other half D. Use all of it to pay down his credit card debt
D. Use all of it to pay down his credit card debt
71. Which of the followoing costs changes along with the quantity produced? A. Fixed B. Marginal C. Overhead D. Variable
D. Variable
In a computer-based business office, "what if" projections are usually made with the use of A. a bar code reader B. a communication software package C. a database management software package D. an electronic spreadsheet
D. an electronic spreadsheet
49. A job applicant may legitimately discuss all of the following topics at the interview EXCEPT the A. salary being offered B. applicant's personal strengths C. fact that the applicant has researched the company D. aspects of a previous employer that the applicant disiked
D. aspects of a previous employer that the applicant disiked
92. Which of the following is NOT an element of marketing mix? A. product B. price C communication D. competition
D. competition
94. An ethical business must do all of the following EXCEPT A. refrain from selling goods and services that are injurious to health B. refrain from misrepresentation C. give customers good value for their money D. develop adequate customer-service policies
D. develop adequate customer-service policies
43. When the totals of the trial balance are equal, the accountant knows that A. all journal entries have been posted to the correct ledger accounts B. all original entries were made correctly C. the company has made a reasonable amount of profit D. equal amounts of debits and credits have been posted
D. equal amounts of debits and credits have been posted
Which of the following is the best policy to enhance customer service in business? A. assuming the customer is always right B. selling merchandise at retail price C. using "bait and switch" advertising D. hiring friendly, knowledgeable employees
D. hiring friendly, knowledgeable employees
86. In developing basic keyboarding skills, a teacher should place greatest emphasis on student behavioral objectives related to the A. knowledge level of cognitive domain B. comprehension level of cognitive domain C. characterization level of the affective domain D. perception level of psychomotor domain
D. perception level of psychomotor domain
81. The primary objective in public speaking is to A. reconcile B. define C. analyze D. persuade
D. persuade
What are four functions of management? A. administrating, organizing, expediting, and controlling B. hiring, firing, creating, and distributing C. personalizing, financing, scheduling, and facilitating D. planning, organizing, leading, and controlling
D. planning, organizing, leading, and controlling
Pauline Lott decides to start her own business. She plans to use her personal savings as start-up capital and will be responsible for all activities of the business. What type of business organization describes this new business? A. general partnership B. limited partnership C. corporation D. sole proprietorship
D. sole proprietorship
Which form of business ownership typically has the shortest life span? A. corporation B. mutual agency C. partnership D. sole proprietorship
D. sole proprietorship
Ahmad and Phil own a business in Florida and plan to expand it to several South American markets. Their first business meeting is in Argentina next week. When communicating with their potential international customers, Ahmad and Phil should do all of the following EXCEPT A. speak slowly. B. enunciate words clearly. C. learn several Spanish words and phrases. D. speak loudly.
D. speak loudly.
Which of the following should a computer user do to prevent screen induced eye strain? A. use eye drops regularly B. change choice of software programs C. limit the resolution on the monitor D. take period breaks to view natural lighting
D. take period breaks to view natural lighting
22. The break even point for a profit-oriented enterprise is reached when? A. VARIABLE COSTS EQUAL FIXED COSTS B. net revenue equals fixed costs C. total revenue equals variable costs D. total revenue equals total costs
D. total revenue equals total costs
. A teacher plans to present a lesson on how to develop personal interview skills. Which would be the most effective instructional resources? A. lectures B. software packages C. textbooks D. videotapes
D. videotapes
If one party to a contract is forced to sign, the contract is defined as A. enforceable B. executory C. unilateral D. voidable
D. voidable
42. When a stockholder signs a proxy solicited by the management of a corporation, the stockholder has authorized the management to A. issue additional shares to the stockholder B. repurchase the stockholder's shares C. call in the stockholder's shares of preferred stock D. vote in the stockholders shares
D. vote in the stockholders shares
33. Which of the following can be best described as names and symbols that are used to identify a company and, when registered with the Federal Government, are protected under the Lanham Act of 1946? A. Patents B. Copyrights C.Testimonials D. Trademarks
D.Trademarks
90. Ms. Beacon wants to be able to enter students grades, calculate averages, and weigh assignments to determine overall grades. Which of the following software applications would be best suited to assist Ms. Beacon? A. accountin B.data management C.graphics D.spreadsheet
D.spreadsheet
According to Fayol's Administrative Theory of Management, which of the following is a correct list of the five essential functions of management? a. Controlling, composing, planning, organizing, implementing b. Containing, controlling, implementing, planning, organizing c. Composing, coordinating, controlling, planning, organizing d. Controlling, commanding, coordinating, planning, organizing
D: According to Fayol's Administrative Theory of Management, the five essential functions of management are controlling, commanding, coordinating, planning, and organizing. Henri Fayol, a French engineer, pioneered the Classical Theory of Management. He argued that any individual who performed these five functions could be considered a manager, regardless of his or her actual job title.
An increase in the price of the leather and a simultaneous increase in consumers' incomes will most likely have which of the following effects on the equilibrium price and the quantity of leather garments? PRICE QUANTITY A. Increase Decrease B. Increase Indetermine C. Indetermine Decrease D. Decrease Decrease
PRICE QUANTITY B. Increase Indetermine
What is the system that makes it simple to store and retrieve large amounts of information? a. DBMS. b. ROS. c. OS. d. I/O.
a. DBMS. Correct answer: DBMS The database management system helps manage the database. This is where information is stored. The DBMS helps organize the information to make it easily accessible.
Which of the following is an advantage of biofuels over fossil fuels? a. They are renewable. b. Their production does not produce air pollutants. c. Their production does not generate solid waste. d. Their production does not create water pollutants.
a. They are renewable. Biofuels are made from living organisms, and therefore are considered to be a renewable source of energy. Fossil fuels are considered to be nonrenewable because it takes so long for the earth to make fossil fuels.
Manufacturing inspection tools must be checked periodically for accuracy. Which of the following is used on a regular basis to check and recalibrate these tools? a. gauge R&R b. acceptance sampling c. burn in d. quality control
a. gauge R&R Gauge R&R (repeatability and reproducibility) is used on a regular basis to check and recalibrate inspection tools. If a tool is broken or no longer works properly, the measurements may be inaccurate.
The atmospheric condition that occurs when a layer of warm air settles over a layer of cool air that is near ground level is: a. thermal inversion b. greenhouse effect c. ozone effect d. acid rain
a. thermal inversion Thermal inversion is the atmospheric condition that occurs when a layer of warm air settles over a layer of cool air that is near ground level. This can cause variations in weather conditions like freezing rain. The worst thing about thermal inversion is that smog and air pollution can be trapped near the ground and stay there until the thermal inversion is gone. Thermal inversions are also called temperature inversions.
The analysis of a product to determine the best material for the least cost is which of the following? a. value analysis b. functional analysis c. working analysis d. universal analysis
a. value analysis Value analysis is the analysis of a product to determine the best material for the least cost. Engineers do value analysis in order to reduce the cost of materials and purchased parts without sacrificing appearance or function.
A transportation subsystem includes parts that need to be in place to make up the whole. Each of the following would be part of a transportation subsystem EXCEPT: a. vehicles b. structure c. propulsion d. suspension
a. vehicles Vehicles are part of the transportation system, not the transportation subsystem. a transportation system uses people, artifacts, vehicles, pathways, energy, information, materials, finances, and time
Which of the following is an appropriate learning objective when teaching 1st grade students about the scope of technology? a. Students will develop an understanding of the process of technological diffusion. b. Students will develop an understanding of the difference between human-made items and items from the natural world. c. Students will develop an understanding of creative thinking. d. Students will develop an understanding of the usefulness of technology.
b. Students will develop an understanding of the difference between human-made items and items from the natural world. The Standards for Technological Literacy are meant to be used with students in grades K-12. When teaching about the first standard, Scope of Technology, an appropriate learning objective for students in grades K-2 is developing an understanding of the difference between human-made items and items from the natural world.
In systems thinking, an assembly line that manufactures cars is an example of which of the following? a. Process. b. System. c. Input. d. Feedback.
b. System. An assembly line that manufactures cars is an example of a system. In systems theory, a system is an organized way to accomplish a goal.
Which of the following is Standard 6 of the Standards for Technological Literacy? a. Apply Design Processes. b. The Role of Society in the Development and Use of Technology. c. Scope of Technology. d. Construction Technology.
b. The Role of Society in the Development and Use of Technology. There are 20 Standards for Technological Literacy, designed to be used to shape technology education in grades K-12. Standard 6 is The Role of Society in the Development and Use of Technology.
The method of producing energy from waste products is known as which of the following? a. electrolysis b. bioconversion c. chemical conversion d. geothermal conversion
b. bioconversion Bioconversion is a method of obtaining energy from waste products. These include food product wastes, animal wastes, paper, cardboard, and wood wastes. All of these can be either burned or converted into fuels such as alcohol, oil, and methane gas.
The parallel, evenly spaced, horizontal boards that support floors and ceilings in a structure are: a. studs b. joists c. trusses d. footings
b. joists Joists are parallel, evenly spaced, horizontal boards that support floors and ceilings. Studs are parallel, evenly spaced, vertical boards that frame exterior and interior walls. Studs are nailed at the top and the bottom to horizontal boards called plates.
Rajesh is working on a design and he has made a sketch. He writes notes about the design in the margins of the sketch to communicate more of his ideas to his partner working with him on the design. The notes Rajesh made are known as which of the following? a. Footnotes. b. Add-ons. c. Annotations. d. Aesthetics.
c. Annotations. The notes Rajesh made on his sketch as known as annotations. Annotations can be useful for communicating elements of a design in the early phases, before a prototype can be made.
The physical parts of a computing system, such as the monitor and drives, are known as which of the following? a. Software. b. Peripherals. c. Hardware. d. Components.
c. Hardware. The physical objects that make up a computing environment are known as hardware. These include monitors, drives, and processing chips.
The reuse of a products for its original purpose is known as which of the following? a. First reuse. b. Secondary reuse. c. Primary reuse. d. Central reuse.
c. Primary reuse. Reuse is an important strategy in decreasing the negative environmental impact of waste. There are two types of reuse. Primary reuse involves reusing a product for its original purpose, for example retreading a tire so that it may be used again.
Which of the following statements about semiconductors is least accurate? a. Silicon is the most widely used semiconductor material. b. Semiconductors are useful in electronics, because, when impurities are added to them, they can be made to carry a limited amount of electric current. c. When impurities are added to semiconductors they always result in a positive charge. d. Layered semiconductors can be used as amplifiers that boost weak electric signals.
c. When impurities are added to semiconductors they always result in a positive charge. The least accurate statement is that when impurities are added to semiconductors they always result in a positive charge. Depending upon the type of impurity used, the semiconductor will carry a negative or a positive charge.
Power that is produced by outside energy sources, such as a motor is: a. mechanical power b. electrical power c. fluid power d. all of the above
c. fluid power Fluid power is produced by outside energy sources, such as a motor. The fluids transmit the energy. It is important to remember that fluids themselves are not the source of fluid power.
The type of engineering design that begins with an existing design that is modified is known as which of the following? a. prototype b. mockup c. incremental design d. configuration
c. incremental design The incremental design process begins with an existing design that is modified. Incremental change is a method of working by adding to a project using many small, incremental changes instead of a few large jumps.
Rail systems that operate on the scientific principle that like poles of a magnet repel each other are known as: a. hydroplane systems b. combustion systems c. maglev systems d. diesel quality systems
c. maglev systems Maglev systems are rail systems that operate on the scientific principle that like poles of a magnet repel each other. Maglev is short for magnetically levitated.
The capacity to do work is known as which of the following? a. Power. b. Transportation. c. Entropy. d. Energy.
d. Energy. Energy is the capacity to do work. It comes in many forms and can be converted from one form to another, but it cannot be destroying under ordinary conditions.
Which type of energy conversion occurs in an electric generator? a. Chemical to electrical. b. Electrical to mechanical. c. Chemical to thermal. d. Mechanical to electrical.
d. Mechanical to electrical. In electric generators, mechanical energy is converted into electrical energy. Energy may be converted but not created or destroyed under normal conditions.
Using knowledge to develop products and systems that satisfy needs, solve problems, and increase capabilities is known as which of the following? a. Technology literacy. b. Adaptability. c. Mechanics. d. Technology.
d. Technology. Technology is using knowledge to develop products and systems that satisfy needs, solve problems, and increase capabilities. Because of how technology influences and controls contemporary life, everyone should have a level of technological literacy.
Which of the following occurs during the compression stroke of a four-stroke diesel engine? a. Air is pumped into the cylinder. b. The piston moves up in the cylinder, constricting the gasoline mixture. c. The piston moves up the cylinder to clear any unburned gasoline and waste gases. d. The piston moves up in the cylinder, squeezing the air.
d. The piston moves up in the cylinder, squeezing the air. During the compression stroke of a four-stroke diesel engine, the piston moves up in the cylinder, squeezing the air. This stroke is the second stage of the four-stroke cycle.
When creating a graphic design, the use of computers for each stage of the design process is which of the following? a. digital balance b. digital design c. digital application d. digital workflow
d. digital workflow Today, most graphic designers use computers at every stage. Digital workflow is the use of computers for each stage of the design process. sometimes this process is called desktop publishing or electronic page composition.
investor= A B C D stocks 20% 85% 70% 50% BONDS 70% 10% 20% 50% cash 10% 5% 10% 0%
investor= A B C D stocks 20% 85% 70% 50% BONDS 70% 10% 20% 50% cash 10% 5% 10% 0%
price down monthly term A. 8K 0 330 36M B 8K 3K 160 60M C 15K 0 250 60M D 15K 5K 400 36K
price down monthly term A. 8K 0 330 36M B 8K 3K 160 60M C 15K 0 250 60M D 15K 5K 400 36K