DECA Test Questions (missed)

As Vanessa walked into the library, Jeremy and Sam were just closing a drawer on the librarian's desk. Later, Vanessa described the incident to the librarian--and included her own conclusion that the boys had probably stolen something. Vanessa's account is an example of which of the following: A. Framing B. Logic C. Input D. Style

A

Identify the weakness of the following opening paragraph used in a letter of application: Your recent advertisement in the Gazette for a customer service representative is of interest to me. I would like to apply for the position. A. Spelling B. Format C. Grammar D. Punctuation

A

Into what two categories can wants be divided? A. Economic and noneconomic B. Unlimited and economic C. Unlimited and limited D. Unlimited and noneconomic

A

Managerial accounting differs from financial accounting because managerial accounting A. helps people within a business rather than outside of the organization. B. does not focus on planning and budgeting. C. is governed by federal regulation. . has less impact on decision-making.

A

The marketing function that helps marketers make decisions about what and to whom to sell is A. marketing-information management. B. product/service management. C. transportation. D. promotion

A

The use of sorting techniques to capture knowledge involves A. comparing and ordering concepts. B. obtaining and storing confidential information. C. documenting relevant facts. D. setting long-term objectives.

A

What component is important to include in all types of inquiry letters? A. Contact information B. Personal qualifications C. Project specifications D. Attention-getting title

A

When a business has been running successfully for several years, what would be a probable next financial step? A. Purchasing a second location B. Acquiring start-up funds C. Deciding on financial goals D. Determining product prices

A

Which of the following is NOT a name for a medium of exchange accepted and backed by the government as payment for goods and services: A. Credit cards B. Legal tender C. Currency D. Bonds

A

Which of the following is a marketing function that can be performed by channel intermediaries: A. Promoting products B. Monitoring union activities C. Training employees D. Recruiting workers

A

Which of the following is not a barrier to effective verbal communication: A. Asking for clarification B. Thinking of what to say next C. Interrupting the speaker D. Judging the speaker's appearance

A

he overall purpose of the Six Sigma quality-management framework is to satisfy customers and A. lower costs. B. simplify activities. C. improve technology. D. identify needs.

A

A business should consider the impact that changes in the environment will have on the business's marketing mix because A. most businesses want to be reactive. B. the business can change its marketing mix. C. the marketing mix is affected by technology. D. government regulations can increase costs.

B

A group of persons in the same industry or geographic area who form a society to solve their common problems describes a A. corporation. B. trade association. C. trade show. D. partnership.

B

Because Japanese people value loyalty, compliance, and teamwork in their personal and business relationships, Japan is considered a(n) A. explicit society. B. collectivist culture. C. elitist nation. D. ceremonial civilization.

B

Businesses often conduct environmental scans to determine if they should A. make staffing adjustments. B. expand into other markets. C. follow government regulations. D. improve their computer systems.

B

Businesses often use direct advertising strategies because A. the promotional message reaches a larger group of people. B. they can select and reach qualified prospects. C. direct advertising is less expensive than other forms of promotion. D. it reduces the need to include other elements in the promotional mix.

B

Calculate a business's gross profit based on the following information: $367,500 in income from sales, $105,250 in payroll, $25,700 in rent, and $140,125 in cost of goods. A. $122,125 B. $227,375 C. $96,425 D. $236,550

B

Companies X, Y, and Z determine the selling price of widgets because these companies are the only ones who market widgets. This is an example of A. monopolistic competition. B. an oligopolistic market. C. pure competition. D. a true monopoly.

B

Having clear customer relationship management goals before putting a program into place helps businesses to avoid A. having unsatisfied customers. B. purchasing irrelevant technology. C. having to lay off employees. D. spending any money.

B

How long are businesses required to keep their records? A. On a seasonal basis B. Varies greatly C. Indefinitely D. One year

B

If a business lowers the price of a product for the purpose of taking business away from competitors, the result of this action often is a(n) A. increase in profit. B. gain in market share. C. a decrease in cost. D. reduction in staff.

B

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? A. Word processing B. Integrated C. Spreadsheet D. Trajectory

B

John would like to be a business owner, has money to invest, and wants to limit his liability. He does not have time to participate in the day-to-day operations of the business. What type of business ownership would you recommend? A. Sole proprietorship B. Open corporation C. Close corporation D. General partnership

B

Matt is balancing his checkbook for the first time. He compares the checks he has written over the last month with those listed on his statement and finds that all of his checks have cleared. Next, he verifies that his latest paycheck, which he deposited the previous day, is on the list. It is not, so he adds it to his statement balance. After this, he should A. subtract any interest. B. subtract fees and charges. C. call the bank for a new statement. D. consider everything done.

B

One of the main external factors that may cause a firm to change its business processes is A. desire for growth. B. competition. C. low employee morale. D. high operating costs.

B

Project-management software can help businesspeople allocate necessary resources and A. hire contractors. B. schedule tasks. C. establish credit. D. authorize payments

B

The balance sheet has a close relationship with the company's A. mortgage. B. income statement. C. fair market value. D. statement of financial position.

B

The function of managerial control involves comparing what was planned with the A. primary goals. B. actual results. C. operating policies. D. established strategies.

B

When RWQ Corporation could not obtain insurance coverage to cover a specific type risk from commercial insurance companies, it formed an insurance company to provide coverage for the risk. This is an example of a company managing its risk through a(n) A. organic entity. B. captive insurer. C. generic provider. D. lending institution.

B

When Stefanie receives her credit-card statement at the end of the month, she sees that she was charged for a down-payment on a new car that she hadn't purchased. Which of the following is NOT something she should do: A. File a police report B. Call the car dealership C. Contact her credit-card company D. Check her credit report

B

When bottlenecks in business processes develop that cause a company to miss deadlines and waste resources, an effective manager would most likely choose to A. invest in quality control. B. redesign the business processes. C. implement an employee incentive program. D. speed up production.

B

Which of the following is a benefit to businesses of orienting new employees: A. Increases profit B. Reduces turnover C. Provides information D. Eliminates training

B

Which of the following is a global trend that might encourage an entrepreneur to consider international business opportunities: A. Higher allowances B. Lower tariffs C. Enforceable trade agreements D. Flexible currency rates

B

Which of the following is a natural risk that businesses should consider when establishing their information-management procedures: A. Tax audit B. Fire C. Technology D. Privacy

B

Which of the following is a specification that a business might establish for selecting spreadsheet software programs: A. Electronically communicate data B. Graphically display financial information C. Regularly organize customer information D. Digitally produce marketing data

B

Which of the following is one of the main functions of promotion in the advertising industry: A. Marketing B. Persuading C. Branding D. Retailing

B

Which of the following situations is most likely to result in long-term, increased sales for a business: A. Raising the price of its current products B. Constantly providing new choices for consumers C. Lowering the price of its current products D. Eliminating a slow-selling product line

B

Which of the following would be out of place in a follow-up letter after a job interview: A. A comment about the work of the business B. A question about salary or benefits C. A desire to be hired for the job D. A reference to the applicant's qualifications

B

Why might a business obtain a trademark for its intellectual property? A. To prevent the publication of the business's written work B. To protect the integrity of the business's logo C. To keep competitors from using the business's manufacturing processes D. To stop the unauthorized use of the business's inventions

B

* Pedro Sanchez works as a loan processor for the MON Company, which is located in Smithville. Pedro has recently approved an application to extend a $10,000 line of credit to Mrs. Jones. Who is the creditor in this situation? A. Mrs. Jones B. Pedro Sanchez C. MON Company D. City of Smithville

C

A business is most likely to review customer invoices from the previous year to A. execute promotions. B. evaluate ideas. C. forecast sales. D. improve service.

C

A business manager realizes that the demand for his/her products now exceeds producers' capabilities, and producers have raised their prices to offset the high demand. Under these conditions, what phase of the business cycle should the manager begin to prepare for? A. Trough B. Peak C. Contraction D. Expansion

C

A primary activity of the directing function of management is A. evaluating performance. B. Identify skills. C. initiating action. D. establishing authority.

C

A type of business ownership in which one or more of the owners does not have full liability is called a A. sole proprietorship. B. general partnership. C. limited partnership. D. service organization.

C

An example of an operating expense that is included in a business's income statement is A. inventory. B. purchases. C. commissions. D. allowances.

C

Assertive people believe that they have the right to ask other people to respond to their A. whims. B. directions. C. needs. D. orders.

C

Businesses often maintain records about vendors' pricing, delivery terms, and credit policies and use the information in the records to A. monitor inventory levels. B. negotiate higher discounts. C. award purchasing contracts. D. follow safe shipping procedures.

C

Financial loss from investing time and money to comply with accounting standards is an example of which strategic risk: A. Changing customer needs B. Reputation damage C. Regulatory and political issues D. Obsolescence

C

Francine likes the auto shop where she takes her car for an oil change because it has a comfortable waiting room with good magazines. This illustrates which important characteristic of quality service providers? A. Responsiveness B. Reliability C. Tangibles D. Assurance

C

In which component of a research report should the writer place the following statement:"Based on our findings, we believe that it is imperative that PNJ Corporation make the necessary adjustments." A. Methodology B. Analyses C. Assumptions D. Recommendations **

C

Ingrid must analyze various aspects of the completed project by comparing the results with the objectives. What process is Ingrid likely to use to obtain all of the information for analysis? A. Team review B. Administrative appraisal C. Internal audit D. Productivity evaluation

C

Mark doesn't have much money to promote his new restaurant, so he focuses on inviting a few customers in for a special dinner in hopes that they will post favorable reviews online and tell their family and friends about their great meals. Mark is using __________ marketing. A. broadcast B. direct mail C. grassroots D. cause

C

Most company budgets are based on A. net profit. B. expenses. C. sales. D. gross profit.

C

The use of communications channels in public relations activities is an important part of A. advertising an image. B. marketing products. C. providing information. D. targeting customers.

C

Three primary factors that affect the organizational structure of a business include interpersonal relationships, tasks, and A. initiative. B. injunction. C. authority. D. attrition.

C

Tiffany Evans is the purchasing manager of a janitorial supply company. Which of the following employees reports directly to Tiffany: A. Elizabeth Curtis, assistant buyer B. Quinn Montgomery, accounts-receivable coordinator C. Christopher Franklin, senior buyer D. Logan Grear, shipping clerk

C

What is the key to effective use of concessions during a negotiation with a vendor? A. Allow minimal room for concessions before negotiations begin. B. Obtain leverage by refusing to give up anything. C. Concede on minor points before major points. D. Portray important concessions as more valuable than they really are.

C

What requirement of a legally enforceable contract requires that both of the parties who are entering into the contract are sane, sober, and of legal age? A. Genuineness of assent B. Consideration C. Capacity D. Legality of purpose

C

When analytical reports contain information that readers might disagree with, writers should back their conclusions with A. personal opinions. B. technical statistics. C. logical arguments. D. enthusiastic statements.

C

Which of the following are characteristics of tactical planning: A. Short-range and vague B. Long-term and vague C. Short-range and specific D. Long-term and specific

C

Which of the following is a formatting characteristic of a full-block business letter: A. Indented first paragraph B. Double-spacing within the paragraph C. No paragraph indents D. All paragraphs use right justification.

C

Which of the following is an activity associated with the organizing function of management: A. Inspecting the quality of outputs B. Developing a mission statement C. Determining the division of labor D. Providing employees with feedback

C

Which of the following is essential to all marketing research: A. Frequency B. Primary data C. Accuracy D. Secondary data

C

Which of the following statements about understanding your spending habits is true: A. A key aspect of opening a bank account B. A key aspect in exceeding financial goals C. The first step in creating a financial plan D. The last step in creating a financial plan

C

Which of the following terms are related to the concept of productivity: A. Profit and loss B. Supply and demand C. Inputs and outputs D. Competition and monopoly

C

A business negotiates a two-year lease on 2,250 square feet of space for $2.60 per square foot with an option on a third year at a 5% increase in rent. What will the monthly rent be if the business extends the lease for a third year? A. $6,265.50 B. $5,976.00 C. $5,850.00 D. $6,142.50

D

A lumber business cuts boards from tree trunks. This business gives the resource __________ utility. A. possession B. time C. place D. form

D

A small-business owner might register for trademark protection for the company's A. computer software. B. invention. C. trade secret. D. logo.

D

Ali wants to negotiate with her boss to take on more job responsibilities. Before approaching her boss, Ali needs to determine her boss's position and A. procedures. B. abilities. C. standards. D. interests.

D

Environmental regulations are often developed to encourage businesses to participate in A. ethical contracts. B. law enforcement. C. resource identification. D. recycling programs.

D

Hazel started her own childcare network where she connects families to available babysitters at her school. Hazel could be described as a(n) A. direct salesperson. B. franchiser. C. wholesaler. D. entrepreneur.

D

If an employee needs to do some research to answer a customer's telephone inquiry, the best action for the employee to take is to obtain the customer's telephone number and then A. put the customer on hold until the research has been completed. B. ask the sales manager to call the customer back. C. send the customer literature about the business and its products. D. follow-up with the customer after obtaining the requested information.

D

In calculating gross domestic product, the goods and services that schools and churches purchase for their own use are considered to be part of A. foreign trade deficits. B. private domestic investment. C. government transfer payments. D. personal consumption expenditures.

D

John's business has been very successful the past year, and profits increased 15% over the previous year. John has decided to expand and to hire additional employees. This is an example of how profits A. provide necessary training for new employees. B. guarantee longevity of the business. C. increase the sales in a business. D. benefit society as well as business.

D

Julio is starting a new business, and he has formed relationships with several successful local business owners. Which of the following is the best way to leverage these relationships to help his own business succeed: A. Gaining inside marketing information B. Persistently asking those business owners to invest in his company C. Attending trade shows and conferences to make new connections D. Sharing those businesses' content on social media

D

Most businesses provide employee orientation as soon as new employees report for work because A. employees can't work until they have been oriented. B. orientation focuses on specific job tasks. C. employees can learn everything in the beginning. D. that is when employees are anxious to learn.

D

Primary use of project management software is to A. evaluate the quality of deliverables. B. define the project's purpose. C. develop project standards. D. allocate project resources.

D

Reviewing activity-status reports helps a project manager to A. develop specifications. B. create barriers. C. determine project scope. D. control the project.

D

Tyrese and his team are creating a list of their company's critical enterprise-wide risks. They are compiling A. a risk control. B. a risk assessment. C. enterprise risk management. D. a risk inventory.

D

What is an important question that a manager must consider when hiring a new employee? A. What are the company's product quality standards? B. What is the company's vision? C. How should the workload be distributed? D. How will the company compensate this worker?

D

What section of the statement of work (SOW) defines what the project will produce? A. Schedule estimates B. Purpose statement C. Benefits and risks D. Project deliverables

D

Which of the following financial analysis methods is used to show the relationship of each component to the total within a single financial statement: A. Fundamental analysis B. Horizontal analysis C. Industry analysis D. Vertical analysis

D

Which of the following is a true statement about trade industries: A. Trade industries have very little flexibility because of their size. B. Most trade industries are large and employ many people. C. Trade industries modify or change the form of products. D. The main types of trade industries are retailers and wholesalers.

D

Which of the following is an example of current liabilities that a business should include in its balance sheet: A. Mortgage loans B. Accounts receivable C. Owner's equity D. Employees' salaries

D

Which of the following is the first step in developing a work breakdown structure (WBS) for a project: A. Determine how long it will take to complete each work task B. Ensure that work tasks are being completed in the proper order C. Evaluate the quality of completed activities in relation to the project goals D. Divide the workload into independent work packages

D

Which of the following is the opportunity cost for a person who decides to place $500 in the bank rather than purchase something s/he really wants but does not need: A. Long-term dissatisfaction B. Higher discretionary income C. Lower salary or wages D. Immediate gratification

D

While American businessperson Carolyn Alexander is traveling on business in Dresden, Germany, she plans to meet with a potential client named Rudolph Schmidt, who is a purchasing manager with Rhine Industries and speaks English fluently. How should Carolyn greet the client? A. How do you do, Schmidt. B. Good day, Sir Rudolph. C. It is a pleasure to meet you, Rudolph Schmidt. D. Hello, Mr. Schmidt.

D