BA 101 Exam Questions
Which of the following businesses has created a majority of net new jobs annually?
Small business
What did the Hawthorne Studies reveal?
That social and psychological factors influence worker's behavior
If a company buys televisions from a manufacture and then sells then sells them to a department store it is probably a
Whole sale
____ refers to all activities concerned with obtaining and managing money and using it effectively
finance
____ includes sick leave, vacation, tension plans, health plans, and other extra compensations
fringe benefits
______ occurs when criminals obtain personal information that allows them to impersonate someone else
identity theft
____ is the buying or selling of stocks by insiders who possess material that is still not public
insider trading
____ occurs when two people do one job
job sharing
Coca Cola allows a Mexican firm to use its name formula and brand in return for a royalty this arrangement is known as
licensing
_____ make decisions about the use of an originations resources
managers
_____ has the important function of providing revenue to sustain a firm
marketing
______ are responsible for tactical planning that will implement the general guidelines of established by top management
middle managers
Production and operation managers are concerned with _______into goods and services
transforming resources
_____ is the process of moving products to the seller to the buyer
transporting
An inner drive that directs a person's behavior towards goals is called a
Motivation
In businesses ______ include the president and other executives
Top managers
_____ relates to the number of goods and services that consumers are willing to buy at different prices at a specific time
demand
____ is the grouping of jobs into work units
departmentalization
Managers need adequate ______ to pay for essential activates
Financial resources
Positons such as foreman, supervisors, and office service managers are part of the
First line management
A program that allows employees to choose their starting and ending hours as longas they are at work during a specific core period is called
Flex time
Which of the following traits will help entrepreneurs succeeded?
Frugality
Which of the following is considered as one of the major causes of small business failure?
Lack of funds to operate the business
Obeying the law is a businesses
Legal responsibility
Which of the following texts protect intellectual property
Patents
Unethical behavior in business can be reduced if management does all of the following except
Punishes unethical behavior firmly
Which of the following exist when there are many small businesses selling one standardized product such as a agricultural commodity like wheat, corn, and cotton?
Pure competition
Materials that have been purchased to use as inputs in making other products are called
Raw materials
Which of the following is the first step in decision making?
Recognizing and defining the decision situation
All of the following are organizational benefits of fostering and valuing workforce diversity except.
Reduced worker efficiency
Which of the following laws criminalizes security fraud and stiffens penalty for corporate fraud
Sarbanes oxley act
A _____ is best described as an independently owned and operated business that is not dominant in its competitive area and does not employ more than 500 people.
Small business
______ is the primary goal of business
profit
________ is the primary goal of business
profit
Which of the following is true of a free market system?
All economic decisions are made without government intervention
The planning of human resources includes all of the following except
Apprising performance
What are the major reasons people want to own and operate their own business is to...
Be their own boss
A _______is elected by the stockholders of a corporation to oversee its general operation.
Board of directors
Who is responsible for setting long reign objectives of a corporation?
Board of directors
The principles and standards that determine acceptable conduct in business organizations are referred to as
Business ethics
A precise statement of the rational for business and step by step explanation of how it will achieve its goals is known as a
Business plan
Financial resources are also known as
Capital
When an entrepreneur takes out a loan form a bank the bank will require him or her to put up
Collateral
Which of the following is a form of financial compensation?
Commissions
In the context of company goals which of the following is an effective practice?
Company goals should be specific
An airline company having different departments for frequent travelers and occasional travelers illustrates
Customer departmentalization
Securing a mortgage from a bank for a new business venture is an example of
Debt financing
Which of the following is true about quality?
Depends on customer's perceptions
Which of the following statements is true of ethics?
Ethical issues are not limited to for profit organizations
A ____ is best describes as the result that a firm wishes to achieve
Goal
the market creates value by
Helping people obtain what they need and want
A firms _____ resources are also known as labor
Human
Money, employees, time, and equipment are examples of an airlines ______ in the transformation process
Inputs
The process of determining how many suppliers and goods are needed keeping track of quantities on hand, each items location, and who is responsible for it is called.
Inventory control
A ____ is plan of action for developing, pricing, distributing, and promoting products
Marketing strategy
Which of the following statements is true of work teams?
Measure performance directly by assessing collected work products
Which of the following is a natural resource?
Minerals
When there is only one business providing a product in a given market there exists a
Monopoly
Which of the following is an intangible product?
Music concert
In _____ all marketing efforts are in one small well defined market segment that has a unique specific set of needs
Niche marketing
Dividing work into small units and assigning it to specific individuals is a task related to the management function of
Organizing
One growing scam used to initiate identify theft fraud is the practice of
Phishing
Which of the following is a human resource?
Physical and mental abilities of people
Vixen works is a soap manufacture, he is paid a fixed amount per every unit he manufactures at the factory he is paid higher rates for exceeding his target
Piece rate system
If an employees learned of a significant cost saving idea from a coworker and informed management of the idea without revealing its true source the employee would be involved in
Plagiarism
Determining a organizations objectives and deciding how to accomplish them a management function is known as
Planning
Identify the management function in which top managers in a organization spend most of their time
Planning
Purchasing fall materials in organizations is also referred to as
Procurement
Which of the following distribution channels would most likely be used for fruits and vegetables sold on a road side stand at a farmer's market
Produce to consumer
The difference between what it costs to make and sell a product and what a customer pays for it is referred to as the
Profit
A ____ is a web based meeting place for family, friends, coworkers, and peers
Social network
Which of the following media is used by digital marketing?
Social networking
The term ____ refers to a business obligation to maximize its positive impact and minimize its negative impact on society
Social responsibility
Which of the following forms of business ownership is the easiest to establish
Sole proprietorship
Identify the less developed country among the following
Somalia
Hiring people to carry out the work of an organization is known as
Staffing
Pollution of water and soil from activities such as water and gas drilling is primarily related to
Sustainable issues
The transformation process is
The conversion of human financial resources into goods services and ideas
Which of the following explains an origination's reason for existence
The organizations mission statement
Many businesses recognize that employees lack basic work skills and are becoming more concerned with
The quality of education in the US
Which of the following is a primary function of the organizational chart?
Visual display of organizational structure
A license to sell another's products or to use another's name in business or both is called
a franchise
_____ are payments gifts and special favors
bribes
_____ are payments gifts or special favors intended to influence the outcome of a behavior
bribes
Which of the following is an example of a tangible product?
car
______ refer to the ability of an individual to think in abstract terms and to see how parts fit together to form the mold
conceptual skills
____ is the process of evaluating and correcting activities to keep an organization on course
controlling
The purchase of an overseas production and marketing facility is an example of
direct investment
Corporations distribute profits to their owners in the form of
dividends
____ describes how a particular society distributes its resources to produce goods and services
economic system
______ study of how resources are distributed for the production of goods and services within a social system
economics
which of the following has most likley taken place when a customer at a bakery hands the cashier $5 for a loaf of bread
exchange
____ can best be described as the ratio at which one nations currency can be exchanged for another nations currency
exchange rate
____ is best described as the sale of goods and services to foregin markets
exporting
_____ refers to the firms shared values, beliefs, traditions, philosophies, ruled and role models
organizational culture
all of the groups that have an interest in an organizations success and outcome are known as the
organizations stakeholders
______ is the structuring of resources and activities to accomplish an objective in an efficient and affective manor
organizing
_______is the transferring of manufacturing or other tasks such as data processing, to countries where labor and supplies are less expensive
outsourcing
_____ are audio and video files that can be downloaded from the internet via subscription that delivers new content, listening devices, or personal computers
podcasts
Actual performance of a service provider's product typically occurs at the
point of consumption
_____ are commonly determined by ranking people into higher or lower positions of respect
social classes
______ a type of plan for establishing objectives, establishing long range objectives, and the overall course of action by a firm
strategic plan