4.00 Unit Assessment

Trey compares the prices offered by different vendors for the same goods and services. Which part of the purchasing process is Trey involved in? A) price fixing B) bid analysis C) invoice payment D) receipt of goods

B) bid analysis

The first step in maintaining an inventory of supplies for the business is to: A) conduct research to find vendors that sell the supplies. B) develop a list of supplies that the business needs. C) compare prices among vendors. D) organize a space to store the supplies.

B) develop a list of supplies that the business needs.

When handling emergency situations, it is important for business employees to: A) move the victim. B) know what to do. C) evacuate the building. D) listen to the radio.

B) know what to do.

Maintaining an inventory of supplies helps a business to: A) establish sales goals. B) operate efficiently. C) locate vendors. D) evaluate processes.

B) operate efficiently.

For safety's sake, employees who are learning new skills should take the time to practice the skills and avoid taking: A) vacations. B) shortcuts. C) rest breaks. D) personal leave.

B) shortcuts

Why is it important for employees to follow instructions when using equipment and machinery? A) to speed up production B) to minimize loss C) to increase output D) to decrease overtime

B) to minimize loss

Which protects employees from liability when they administer first aid to customers? A) Good Samaritan Law B) Workers' compensation C) Health and Human Services Department D) Occupational Safety and Health Administration

A) Good Samaritan Law

A reason why businesses are required to keep accident records is for: A) insurance purposes. B) Good Samaritan Law. C) personal liability. D) Social Security Act.

A) insurance purposes.

The primary reason that governments develop workplace health and safety regulations is to: A) protect employees from injury and illness. B) reduce the risk of employment discrimination. C) ensure that employees have access to insurance. D) prevent the breach of business information systems.

A) protect employees from injury and illness.

One way a business can reduce the risk of accidents in the workplace is by providing its employees with: A) safety training. B) electronic data interchange (EDI). C) supply manuals. D) weight-loss programs.

A) safety training.

Mark, who owns a small home-appliance store, is in the process of placing an order for 12 refrigerators, 8 stoves, and 4 portable dishwashers. Mark is purchasing the refrigerators for $674.98 each, the stoves for $493.22 each, and the portable dishwashers for $284.83 each. What is the total cost of the stoves that Mark is purchasing? A) $493.22 B) $3,945.76 C) $2,278.64 D) $5,399.84

B) $3,945.76

What is one of the first procedures to follow if business employees detect a fire in the facility? A) Locate fire extinguishers. B) Evacuate the premises. C) Contact corporate headquarters. D) Hide the valuables.

B) Evacuate the premises.

Which question should be answered by the purchasing function? A) How can we inform customers of available merchandise? B) How much merchandise should we buy? C) How will merchandise be shipped to us? D) How can we protect merchandise from pilferage?

B) How much merchandise should we buy?

To help create a safe environment in the workplace, each employee should: A) report all problems to the company's president or CEO. B) make sure that he/she develops a list of safety procedures to follow. C) be aware of things or situations that create hazardous conditions. D) read the company's training manual thoroughly.

C) be aware of things or situations that create hazardous conditions.

Which is a benefit of putting one's goals in writing? A) makes the goals attainable B) develops one's perseverance C) clarifies the goals D) provides a challenge

C) clarifies the goals

Which is a example of a short-term objective? A) becoming president of a large corporation B) paying off a twenty-five-year mortgage C) finishing a six-week computer software course D) becoming fluent in a foreign language

C) finishing a six-week computer software course

What production activity evaluates products to make sure that the products the business produces meet certain quality standards? A) form utility B) automation C) follow-up D) standardization

C) follow-up

What is one of the most important components of the production process? A) new technology B) goods and services C) human resources D) inputs and outputs

C) human resources

Some businesses use an automatic reorder system to maintain an adequate: A) budget for expenses. B) work environment. C) inventory of supplies. D) maintenance system.

C) inventory of supplies.

Some safety hazards in the workplace are caused by the unsafe actions of workers. An example would be: A) driving a company vehicle. B) talking to coworkers on a break. C) wearing inappropriate clothing. D) standing close to a load in order to lift it.

C) wearing inappropriate clothing.

Primetime Incorporated is a retailer of sporting gear. It sells 500 pairs of a specific Nike sneaker each day. Nike, the supplier, takes a week (7 days) to deliver the order. For what quantity should the inventory manager place his/her next order? A) 72 units B) 350 units C) 3,000 units D) 3,500 units

D) 3,500 units

Which is an example of an employee maintaining a safe work environment? A) Kaylee trips over the computer wires that are lying on the floor of her office. B) Anna fails to tell her supervisor that the caution light is blinking on the equipment. C) Steve takes the elevator instead of the stairs during the practice fire drill. D) William follows his employer's rules when he is operating heavy equipment.

D) William follows his employer's rules when he is operating heavy equipment.

Jessie is designing a new style of bracelet to sell at school to raise money for FBLA. She has sold so many bracelets that she has assigned other members of FBLA to assist her in making the bracelets. Which production activity step is this? A) planning B) purchasing C) production D) dispatching

D) dispatching

By purchasing just the quantity of supplies that is needed, purchasing can: A) plan the company's cash flow. B) provide an uninterrupted flow of supplies. C) buy supplies at the lowest possible price. D) minimize inventory investment.

D) minimize inventory investment.

Which processes turn economic resources into goods and services? A) distribution B) marketing C) promotion D) production

D) production