DECA 2018- Business Law and Ethics

It is important to develop a personal plan of action for goals because

A plan helps you to achieve your goals

Which of the following people would make the best entrepreneur:

A risk-taker who has a strong work ethic

Which is the following is a benefit of opening a franchise:

A well-known brand name

What is the foundation of knowledge management?

A willingness to share expertise

Valuing diversity means

Acknowledging differences as assets

One way that employees can help to control a business's expenses is by

Arriving at work on time

Which of the following is a risk-management application that alerts the appropriate personnel when an unauthorized source has tried to access the business's computer network:

Automated notification

Although governments and businesses used computers in limited ways for several decades, the development and widespread use of desktop computers emerged in the 1980s in both homes and businesses, drastically changing the way people and businesses interact. What type of improvement does this situation exemplify?

Breakthrough

Caitlin has three credit cards. She receives her credit card statement for one of the cards and has to decide how to pay the $500 she spent with that card. To pay the least for use of the credit, she should pay with __________ and make the __________ payment.

Cash; full

Which of the following is a possible consequence of taking too much initiative?

Causing hard feelings among employees

Motivation can be anything that drives a person to pursue a(n)

Certain outcome

Elias always listens to his friends instead of letting his mind wander or getting distracted by his phone. Which trust-building technique is Elias demonstrating?

Communicating often and openly

Which is the following is vital to the successful operation of a private enterprise system:

Competition

The Simpson Company is negotiating discount terms with Cornwell Manufacturing, a prospective vendor. During the negotiation, Cornwell states that it is willing to offer Simpson a six-percent discount on orders over $50,000. Although Simpson would rather have an eight-percent discount, it agrees to the terms, hoping to obtain something it wants later in the negotiation. This is an example of a

Concession

Your interest and enthusiasm can help to create a sense of __________ within your work group.

Cooperation

While George is unable to work because of a back injury, he receives a check every week for 60% of his usual salary. George's check is a benefit of his __________ insurance.

Disability

Which of the following is an accurate description of business records:

Documents containing company information

Which of the following is an important question that a business should ask when selecting a vendor:

Does the vendor have the resources to consistently meet our business's needs?

The overall category of resources that makes it possible for businesses to produce the goods and services that consumers want to buy is __________ resources.

Economic

A primary reason governments regulate business accounting practices is to

Ensure consistent reporting

In which is the following situations does a nation have a favorable balance of trade?

Exports of $3.5 million and imports of $3.1 million.

True or false: Companies without an HR department do not participate in HR management activities.

False; in companies without HR departments, other managers and supervisors participate in HR management activities.

Lamar Enterprises is using a trademark that looks very similar to the Seward Company's trademark. To prevent Lamar from continuing to use the trademark, Seward can take legal action by

Filling an infringement lawsuit against Lamar

What is one way that employees can help their companies protect digital assets?

Follow company policies about giving out personal information.

One possible downside to choosing overseas suppliers is

Increased delivery times

One way that inflation impacts businesses is by

Increasing prices

The main reason employers offer criticism is that so workers can improve their

Job performance

In a consensus-building group, the facilitator is the person who

Keeps the discussion on track

Who is usually responsible for analyzing a business's income statement?

Managers

Jessica must develop an analytical report that assesses the product opportunities for 18- to 34-year-old sports enthusiasts in the greater Seattle area. What type of analytical report is Jessica writing?

Market analysis

What is required to maintain favorable relationships with vendors?

Ongoing cooperation

Change management occurs in a cycle because

Organizations always need to change

Nico knows that he would never do anything unethical, but he is sure that all of his coworkers are tempted at one point or another. Nico is demonstrating

Over-optimism and confidence

Service businesses that use goods in order to perform their services usually do not transfer __________ those goods to customers.

Ownership of

Lack of exercise, sleep, and adequate relaxation are factors that are likely to have a direct effect on an individual's ability to

Perform job expectations

55. Which of the following types of data analysis suggests a future course of action:

Prescriptive analytics

Creativity is an important skill to use in

Problem solving

A business' brand promise is what to business intends to

Provide the customer

Which of the following is an ethical issue resulting from internal risks:

Providing incomplete data for audits

Supply chain networks are often

Redesigned

Government protects consumers by establishing

Requirements for product testing

Which of the following situations should be an employee's top priority:

Returning an urgent telephone call from an important customer.

A disruption in the supply chain can cause a business to

Stop production

The primary purpose of the organizing function of management is to provide

Structure

What are the three primary characteristics of an effective control system in a business?

Suitable, understandable, and timely

Serena is determining the specific activities needed to carry out a year-long advertising campaign. Serena is engaged in __________ planning.

Tactical

Jon sues his former employer for harassment. In what situation would the employer be likely to offer Jon a settlement?

The employer does not think it will be able to win the case

What must be determined before work can be coordinated effectively among team members?

The necessary tasks

The litigation process begins when

The plaintiff files a complaint with the court

Why do top-level managers usually receive high salaries?

Their decisions affect the entire company

Which of the following is a criterion for evaluating the reliability of a source:

Timeliness

Which of the following is a reason that a company would decide to offer its product in other countries:

To expand to new, untapped markets

Which of the following are elements that appear in the heading of a memorandum?

To, from, date, and subject

If individuals are not self-employed, which of the following is a type of earned income they might receive:

Vacation pay

Which of the following is an example of a raw material that a business might inventory for production use:

Wood

Trevor needs to determine the procedures that he needs to follow for a specific project work activity. Trevor can locate that information in the

Work breakdown structure dictionary.

A debtor-creditor relationship exists when

interest is charged

To cross the street, you must wait until the appropriate traffic signal appears. This is an example of a

law

In which component of the project's statement of work (SoW) would the following message most likely appear: "Due to the limited amount of time allocated to complete the study, the survey sample size may need to be reduced."

Constraints

A 12-screen movie theater recently opened in your neighborhood. Just a couple of months after it opened for business, the old single-screen drive-in movie theater nearby went out of business. This is an example of

Creative destruction

Which of the following do individuals usually need to be able to persuade others:

Credibility

What source of credit offers its members small loans, installment credit, and low interest rates?

Credit unions

An automobile manufacturer in Country A purchases parts from a factory in Country B. When Country B suffers a massive earthquake, the automobile manufacturer is forced to put production on hold until it can find another factory to supply the parts. What type of risk does this situation illustrate?

Environmental

Businesses can help to prevent accidents in the workplace by

Establishing safety guidelines

Virgil is looking to gain work experience in graphic design, but he has not been able to secure a part- or full-time position with a company. He decides to bid on jobs online that will pay him a small wage per project he completes. Virgil is __________ to gain valuable work experience.

Freelancing

The laddering technique is used to capture and change categories of

Hierarchical information

If the cash from operating activities is consistently greater than the company's net income, the company's net earnings are of a(n) __________ quality.

High

Which of the following is a legitimate response for an employer to provide to a customer regarding an inquiry about product pricing:

If you can wait a moment, I'll check for the price in the computer

Which of the following is an example of a purpose statement in a research report:

In this study, we will examine the causes and effects of climate change.

If the Food and Drug Administration (FDA) increased requirements for food allergen awareness for all food workers, how would a restaurant's operations likely be affected?

Increased training time and costs

Alexis and her team are working on a new project proposal to show their boss. She knows that doing the project their way will be costly and time-consuming, but she also knows that the results will be great. She and her team decide to first present the benefits of the project and then draw the conclusion that investing company time and money would be a good idea. Alexis hopes to convince her boss using

Inductive organization

What do businesses often develop to be able to store and analyze data for the purpose of making business decisions?

Information systems

Determining a project's feasibility, developing a statement of work (SoW), creating SMART objectives, and developing a project charter occur during the __________ stage of project management

Initiation

Jamal wants to purchase software for his small business that allows him to create text documents, prepare presentations, maintain a customer database, and develop numerical charts. What type of software would best meet Jamal's needs?

Integrated

Which of the following may happen if a business cuts costs:

It may pay fewer taxes

A business establishes virtual workspaces for several project teams in which information and expertise are continuously updated and shared among all of the work teams' members. What form of knowledge- management technology is the business using?

Knowledge repositories

All calls coming to a business should end as pleasantly as possible in order to

Leave a good last impression with callers

The Six Sigma framework of quality management takes a disciplined approach to continuously providing better quality and

Lowering costs

Your company had total sales of $5 billion last year, while your industry as a whole sold $50 billion. Your company's sales divided by total industry sales equals 10 percent, or your

Market share

Which of the following is the best example of the types of resources it takes to complete a project successfully:

Materials

A business process change would likely be required if a company

Merges with another company

Kate says, "I am very pleased with your progress on the project, Devon. Take the rest of the day off, and we'll talk about the next phase of the project tomorrow." What directing activity is Kate performing?

Motivating an employee

Norman overheard Gina tell a coworker that the company's operations manager is going to be fired. Should Norman tell the operations manager about the conversation?

No; Gina is gossiping about something that may or may not be true. Gossip is rumor or talk that discloses personal information about another person. Gossiping is unethical behavior because the information may be false. When false rumors are spread about a person, the person may be hurt personally and professionally. Employees should avoid gossiping rather than risk spreading false information; therefore, Norman should not say anything to anyone. Gina's personal conversations and the operations manager's employment status do not involve Norman and are not any of his business.

Dillon wants to advance quickly in his career with the Orton Company. To impress his boss, Dillon volunteered to take on several extra assignments. Unfortunately, Dillon did not realize how much time was involved to complete all of the work that he had taken on. He rushed to get the Simpson assignment done so he could start work on a complex report. On Tuesday, Dillon's boss called him into his office and told him that the Simpson assignment lacked detail and that more research needed to be done. Now, Dillon is worried that he will not meet the deadlines for the report and other upcoming assignments. What lesson can Dillon learn from this experience?

Over-commitment can lead to a lower quality of work

The capability of combining graphics, text, animation, and sound is a unique characteristic of __________ software programs

Presentation

Which of the following is the primary activity performed during the execution phase of a project:

Producing

Jane said, "Troy, I think you are on the right track. Let's make the modification that you suggested, but do it before you enter the phase 2D data in the computer system." What project-management activity is Jane performing?

Providing feedback

The purpose of depositing large bills in drop boxes upon receipt is to prevent

Robbery

To remain competitive in the marketplace, a company implements processes to identify its internal strengths and weaknesses and its external opportunities and threats. What type of business analysis is the company conducting?

SWOT

Which of the following employees has an operations management career:

Samuel manages his company's call center

A project manager must extend the due date of a project activity by three days. What project- management software application will enable the project manager to make the change?

Scheduling

The purpose of participating in staff meetings usually is to

Share information

The Colbert Company ships 19 cases of model number 328 bolts to SOA Manufacturing Company every other week. This is an example of a(n) __________ purchase order.

Standing

Online shipment tracking is one example of __________ affecting supply chain management.

Technology

Which of the following is an economic factor that affects business trends:

The business cycle

Customers tend to look at a business as a whole despite the number of __________ they experience.

Touch points

Melanie is showing a group of new employees how to perform work-related tasks. What staffing activity is Melanie performing?

Training

Rachel says to the audience, "Now that you have some insight about the nature of the problem, I'll discuss the methodology that our firm used to conduct the research." This statement is an example of

Transition

Tayari communicates openly, even when it's difficult. She demonstrates

Transparency

To have effective knowledge-management processes, businesses need their employees to have a(n)

Transparent