From Praxis Website

The sales projections for a new product do not meet the expectations of a company's leadership team. After analyzing the situation, the team decides that the features offered on the new item do not match customer wants and there is a problem with quality control. Which of the following parts of the company's business plan should be adjusted? Select all that apply. A.Product design B.Operations C.Executive summary D.Company overview

(A) and (B) are correct. Product design may be included in the company description section and tell about the products and services offered, so this may need to be adjusted based on changes the leadership team wants to make. The details of operations may also be outlined in the company description since the quality of the product is being compromised. These areas will need to be reviewed to improve the final product.

Many employers rely on temporary workers to provide flexibility in times of fluctuating need. However, an important consideration in hiring temporary workers is that they (A) are often less experienced and less committed to the job than full-time employees (B) are limited to 30 days on the job before they must be offered a permanent position (C) must be offered health care and other benefits like regular full-time employees (D) are required to receive pay equal to that of regular full-time employees doing the same job

(A) correct. Temporary workers do not have as much invested in a job as regular full-time workers, and also tend to be less experienced. (B) is incorrect. There is no limitation on the time frame of a temporary worker or a rule that mandates they must be hired on a full-time basis. (C) is incorrect. There is no rule outlining that temporary workers must receive the same benefits as regular workers, which explains why it is a cost-cutting move. (D) is incorrect. There is no requirement for equal pay for a temporary worker and full-time employee.

Which of the following terms best describes an auditing tool that helps determine a company's current strategic position? A.SWOT analysis B.Business plan C.Market survey D.Environmental scan

(A) is correct. A SWOT analysis is the best tool for audit and analysis of the overall strategic position of a business.

Wendy, a high school student enrolled in a work-based learning course, works as an attendance clerk at an area middle school. She has received her first paycheck. Wendy is primarily in which of the following phases of work-based learning? A.Cooperative work experience B.Work-related training C.Career assessment D.Career exploration

(A) is correct. Cooperative work experience is the only phase of work-based learning that is paid.

The first step in the employment process for job candidates is A.assessing their career interest and qualifications B.developing an extensive résumé 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) is correct. The question tests your knowledge of the employment process. A job candidate must first identify an attractive career option and assess his or her qualifications.

Which of the following is the most appropriate term for money provided by investors to finance new products or services that have a good chance of succeeding? A.Venture capital funding B.Angel funding C.Credit funding D.Start-up funding

(A) is correct. Venture capital funding is money provided by large professional investors to finance new products and new businesses that have a good chance of being profitable.

Which THREE of the following actions should a marketing manager use to mine targeted customer data for a local bank to expand its financial management business? A.Studying customers' responses to the marking down of account fees B.Identifying products that competitive banks provide C.Evaluating the profiles of the most profitable customers D.Querying for the ethnicity of customers E.Analyzing the combination of bank products that customers use

(A), (C), and (E) are correct. Learning about trends in customer responses to fee markdowns will help the bank identify customers who are price sensitive. Data mining the profiles of the most profitable customers can reveal patterns and trends in customer data that the bank can use to expand its business. Analyzing the combination of products can reveal trends in customer purchases.

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) Total revenue will decrease. (D) Total revenue will not change.

(A). (B) is incorrect because an increase in the price of a product that has an inelastic demand will not cause a change in the quantity demanded. Total revenue will increase if the price is raised on a product that has an inelastic demand. Therefore (C) and (D) are incorrect.

Which of the following is the best description of a consumer checking account? (A) An asset for the consumer and a liability for the bank (B) A liability for the consumer and an asset for the bank (C) An asset for both the consumer and the bank (D) A liability for both the consumer and the bank

(A). A checking account is a claim against the bank's assets for the consumer (i.e., an asset of the consumer) and a obligation by the bank to pay (i.e., a liability for the bank).

What is the most likely impact of an increase in interest rates? (A) Investment levels diminish (B) Employment increases (C) The value of the U.S. dollar increases (D) Mortgage rates decline

(A). A rise in interest rates means an increase in the cost of borrowing, which can discourage investment. A rise in interest rates can cause employment to decline (B), the value of the U.S. dollar to decrease (C), and mortgage rates to increase (D).

A business teacher has students analyze a scenario in which a few firms in the gas industry produce a homogeneous product and dominate the market. This situation would primarily produce a market structure representative of (A) an oligopoly (B) a pure monopoly (C) monopolistic competition (D) pure competition

(A). An oligopoly exists where a few large firms that produce a homogeneous product exercise dominance over the market. Choice (B) is incorrect because a pure monopoly exists when a single entity, such as a professional sports league or public utility, is the sole producer of a product. Choice (C) is incorrect because monopolistic competition occurs when a relatively large number of competitors, such as clothing stores, offer similar (but not identical) products. Choice (D) is incorrect because in pure competition, the decision of a single seller will have no impact on market price, and individual firms must accept the market price and cannot exert an influence on price.

Which of the following would be provided in the marketing segment of a business plan? (A) How the products and services will be priced (B) The organizational structure of the business (C) Any factors that could affect employee retention (D) The details of the budget plan

(A). Pricing strategy is a part of the marketing segment. This segment would discuss how the products and services are priced. (B), (C), and (D) are not a part of the marketing segment.

If the government places a price ceiling on leather garments 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). The result of an effective price ceiling below the equilibrium price will be an excess of quantity demanded over quantity supplied, which will result in a shortage.

Ms. Scalise, who runs an art gallery, offers to pay Mr. Patel $1,000 for an antique vase, and he agrees to the offer. For a contract to be enforceable, it must include an offer, an acceptance, and which of the following? A.Agreement on dates B.Consideration C.Signatures D.Written documentation

(B) is correct. Any oral or written contract must include consideration.

A teacher in a business law class discusses an agency that protects consumers from fraud, deception, and unfair business practices by enforcing laws and guarding consumers' rights. Which of the following agencies is the teacher describing? A.American Association of Retired Persons (AARP) B.Federal Trade Commission (FTC) C.Consumer Financial Protection Bureau (CFPB) D.Better Business Bureau (BBB)

(B) is correct. The FTC's Bureau of Consumer Protection enforces federal laws that protect consumers and helps them exercise their legal rights and avoid fraud and deception.

A person has just inserted a picture into a document. Which of the following is the name of the selected graphic's display handles at each corner and middle location? A.Selection B.Resizing C.Formatting D.Styles

(B) is correct. The display handles that appear at the corners and sides of the selected graphic are used to resize the image.

21. An increase in the price of leather and a simultaneous increase in consumers' incomes will most likely have which of the following effects on the equilibrium price and quantity of leather garments? Price Quantity (A) Increase Increase (B) Increase Indeterminate (C) Indeterminate Decrease (D) Decrease Decrease

(B), because an increase in the price of leather decreases the supply of leather garments, and an increase in incomes will increase the demand for leather garments, assuming leather garments are normal goods. These simultaneous shifts in the curves will result in an increase in price, but the effect on quantity is indeterminate and will depend on the extent of the shift of each curve.

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). A lack of economic resources does not legally void the payment obligation on a negotiable instrument. (A), (C), and (D) are legal reasons for nonpayment on a negotiable instrument.

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). A reduction in the discount rate, the rate commercial banks are charged to borrow money from the Federal Reserve, encourages banks to lend money, promoting consumer spending.

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). Accounts payable shows the amount owed to a creditor for goods or services bought on credit.

Which of the following protocols is usually associated with hyperinflation? (A) A rapid decrease in total spending (B) A rapid increase in money supply (C) A slow increase in exports (D) A slow increase in labor productivity

(B). Hyperinflation is caused by extremely rapid growth in the supply of money. It occurs when the monetary and fiscal authorities of a nation regularly issue large quantities of money to pay for a large stream of government expenditures.

When Corporation 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). The debit of $300,000 to Salary expense increases Expenses; the credit of $300,000 to Cash decreases Assets.

Which of the following steps should be taken first to effectively present new information to coworkers? (A) Analyzing the audience (B) Determining the objective (C) Creating three to five key messages (D) Choosing a communication tool

(B). The first step to effectively present new information to coworkers is to determine the objective of the presentation. Choices (A), (C) and (D) are all incorrect because they come later in the presentation development process.

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). The question tests your knowledge of information technology with respect to hypertext markup language (HTML). (A), the bootstrap protocol (BOOTP), is used to assign an IP address to diskless computers and tell it what server and file to load to provide it with an operating system. (C), the simple network management protocol (SNMP), is used to manage all types of network elements based on various data sent and received. (D), the simple mail transfer protocol (SMTP), is used to transport mail. (B), the hypertext transfer protocol (HTTP), is used to transport HTML pages from Web servers to Web browsers and is the protocol used to communicate between Web servers and Web browser software clients.

The labor force primarily consists of all (A) employed workers under the age of 16 (B) persons classified as unemployed or employed (C) persons who are employed as full-time workers (D) unemployed, employed, and discouraged workers

(B). The question tests your knowledge of labor issues. The labor force is defined as all the nonmilitary people who are officially employed or unemployed.

Which of the following activities is the best use of an enterprise application system for a large retail chain? A.Composing letters to current customers B.Creating a decentralized data warehouse C.Processing online payments D.Researching on the Internet

(C) is correct. An enterprise application system is used to integrate all of a firm's processes and can be linked to customers, partners, or suppliers. Processing online payments is one use of an enterprise application system.

Which of the following is an ergonomic risk factor that contributes to musculoskeletal disorders in the workplace? A.Exerting moderate force B.Performing a variety of duties C.Sustaining awkward postures D.Resting the body often

(C) is correct. Sustaining awkward postures, such as prolonged or repetitive reaching above shoulder height, kneeling, squatting, leaning over a counter, using a knife with wrists bent, or twisting the torso while lifting, places stress on the body.

The four components of the work-based learning (WBL) approach are work-related training, career assessment, cooperative work experience, and which of the following? A.Technical school B.Community work C.Career exploration D.Self-evaluation

(C) is correct. The National Center on Secondary Education and Transition states that career exploration, career assessment, work-related training, and cooperative work experience are the components of work-based learning.

The total retail market value of all the goods and services produced in a nation, usually stated in annual terms, is the (A) ratio of profit to sales (B) current ratio (C) gross domestic product (D) trade surplus

(C). Gross domestic product can be defined as the total market value of all final goods and services produced by factors of production located within a country, regardless of who owns them.

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). In a commodity market where products are close substitutes of each other, the only basis for competition is price.

Which of the following responsibilities of a human resources manager would have the most negative impact on a company if performed incorrectly? (A) Recruiting and hiring new employees (B) Providing professional development opportunities for employees (C) Ensuring company compliance with laws and regulations (D) Filing employee compensation and benefits forms

(C). Making an error in the area of legal compliance could cost a company money (in fines and lawsuits) and its reputation, and the error could have an effect on the viability and future of the company. Choice (A) is incorrect because making an error in recruiting and hiring employees could result in missing out on hiring an employee who would make a positive impact or in hiring an employee who is not a good fit for the firm; however, these are situations in which a company could recover and move forward. Choice (B) is incorrect because although it is vital for the company to provide professional development opportunities for the future growth of its staff, this is an area that can be added gradually and modified as needed as the company becomes more established. Choice (D) is incorrect because although it is important to correctly file compensation and benefits forms, doing so incorrectly could be rectified quickly and without detriment to the company

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). Of all business structures, only corporations can sell equity.

An important source of information on the credit rating of retail businesses is (A) the Retail Merchants Association (B) the local chamber of commerce (C) Dun & Bradstreet, Inc. (D) the United States Retail Credit Association

(C). One of the primary services of Dun & Bradstreet, Inc. is to provide credit information on businesses. (A), (B), and (D) are organizations made up of member firms with common interests.

As part of a staffing strategy, a human resources manager hires new personnel through a hidden market. Which of the following best represents the use of a hidden market? (A) Posting the job opening to a social media Web site (B) Advertising the job opening on job posting Web sites (C) Receiving a recommendation from a current employee (D) Participating in a career fair at a local community college

(C). The hidden market consists of jobs that are not advertised to the general public. Job seekers gain access to the hidden market through family and friends or through networking with current employees. Choices (A), (B), and (D) all represent the public advertising of a job posting, which is not a part of the hidden market.

A business teacher wants students to learn about exploring career choices. Which of the following student activities best meets the teacher's objective? A.Creating a résumé presentation B.Participating in a mock interview C.Attending work-readiness training D.Visiting a local college

(D) is correct. A college visit is an opportunity for students to learn the importance of career exploration.

An experienced accountant has been hired to manage an accounting firm. The job requirements include ensuring that all of the company's goals are being met and evaluating employee performance. Which of the following management functions is most closely related to these job duties? A.Planning B.Organizing C.Leading D.Controlling

(D) is correct. Controlling means keeping the company on track and making sure all goals are met. Managers must monitor employees and review their performance.

A company manager wants to share safety procedures, accident prevention information, and yearly statistics with all the employees. Which of the following types of communication will best accomplish this goal? A.A formal letter B.An interoffice memo C.An interoffice e-mail D.A formal presentation

(D) is correct. Given the nature of the communication, a formal presentation is the most effective and efficient way to present the type and quantity of data and information to a large audience.

A primary regulatory function of the United States government is protecting A.business rights B.agriculture C.consumer rights D.competition

(D) is correct. Protecting competition is one of the four aspects of the economy that the government regulates.

Which of the following teaching techniques would best address the requirements of 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) is correct. The question asks you to apply your knowledge of tracking pedagogy with regard to special needs students. Special needs students require constant repetition of drills and review of what has been taught.

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 the stockholder's shares

(D) is correct. The question tests your knowledge of finance and investing. A proxy, by definition, is a written authorization by a shareholder to another person to vote the stock owned by the shareholder. It does not provide for the issuing of additional shares, repurchasing of shares, converting of shares, or calling in of shares.

Which of the following costs changes along with the quantity produced? A.Fixed B.Marginal C.Overhead D.Variable

(D) is correct. The question tests your knowledge of production costs. Variable cost is the sum of marginal costs over all units produced and changes as the number of units produced changes.

If one party to a contract is forced to sign, the contract is defined as (A) enforceable (B) executory (C) unilateral (D) voidable

(D). A forced agreement is not a genuine agreement. The contract is voidable due to duress.

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). In annual 10-K filings, publicly traded companies are required by statute to report assets, liabilities, activities, and risks accurately. Sources such as annual reports, press releases, and newspaper articles can be biased and incomplete.

Which of the following should a computer user do to prevent screen-induced eyestrain? (A) Use eye drops regularly (B) Change choice of software programs (C) Limit the resolution on the monitor (D) Take periodic breaks to view natural lighting

(D). Looking at natural light is known to relieve eyestrain caused by pixilated images.

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 Corporation (C) Federal Reserve Board (D) Financial Industry Regulatory Authority

(D). The Financial Industry Regulatory Authority is the regulator for all securities firms operating in the United States.

When preparing a presentation, which of the following might make data-heavy text more reader friendly? (A) Providing an overview of data (B) Using italics on numbers (C) Using double-spacing for all text (D) Including relevant graphics with text

(D). While additional formatting, (A), (B), and (C), can improve readability, graphical presentation is often the most effective conveyor of data.

A teacher provides students three categories with which to analyze the reliability of a Web site: author, purpose, and reliability. Place the following questions within the appropriate category. Author Purpose Reliability (A.) Can you verify the information on the site with a non-Web equivalent? (B.) Are there credentials and contact information for the provider? (C.) Is the site trying to inform,persuade, or sell?

Author B. Are there credentials and contact information for the provider? Purpose C. Is the site trying to inform,persuade, or sell? Reliability A. Can you verify the information on the site witha non-Web equivalent? (2), (3), and (1) are correct. Knowing the author's purpose helps the reader know if the information is intended to persuade someone into buying something or if it is provided as factual, documented information. If a student can see the credentials and contact information of the author the reader can better know if the writer is reputable. By knowing if the information can be double checked by another non-internet source allows the reader to better understand it's accuracy.

Which of the following scenarios does not include a producer? (A) Direct selling (B) Reverse channels (C) Indirect channels (D) Dual distribution

B). Reverse channels take something from the traditional end point (consumer) and find a way to reuse it. An example would be using recycled plastics to create building-material blocks to build smaller low-cost housing. (A) is incorrect. Direct selling is when someone is producing something and selling it directly to the buyer. (C) is incorrect. In an indirect channel there is a producer and then some intermediary such as a wholesaler and/or retailer to get the product to the consumer. (D) is incorrect. Dual distribution is when there is a producer and that producer uses more than one distribution path to get to the consumer, possibly selling directly and also through a wholesaler.

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 (FLSA) prescribes standards for wages and overtime pay, which affect most private and public employment. The act is administered by the Wage and Hour Division of the Department of Labor. It requires employers to pay covered employees who are not otherwise exempt at least the federal minimum wage and overtime pay of one-and-one-half times the regular rate of pay.

Determining how a product can be useful, identifying the target price, finding a place to sell the product, and deciding how to promote it best exemplifies using (A) market research (B) positioning (C) marketing mix (D) segmenting

The correct answer is (C). The marketing mix is also known as the four P's of marketing, which are product, place, price, and promotion. Choice (A) is incorrect because market research is the process of gathering information about the market and using it to determine what kinds of products to produce. Choice (B) is incorrect because positioning is a part of the strategic marketing formula that helps marketers identify and segment their audience, target their market, and posture their products to cultivate the desired brand position. Choice (D) is incorrect because segmenting is the part of the strategic marketing formula that helps marketers identify and segment their audience, target their market, and posture their products to cultivate their desired brand position.

Ms. Moore is developing a presentation for the annual budget meeting with the board of directors at her company. She plans to use multimedia-presentation software to develop visuals that conform to best practices. Indicate whether each of the following practices is effective or ineffective. Statement Visuals should illustrate the main points rather than every detail. Visuals should include multiple scripts and decorative fonts to enhance attractiveness. Each visual should be limited to a single main concept.

The correct responses are, in order of each statement, effective, ineffective, effective. The first statement is effective because visuals should show main points rather than illustrating every detail that is to be mentioned verbally. The second statement is ineffective because the fonts on visuals should be kept simple, with a common font selected for continuity and easy reading. The third statement is effective because, to avoid confusion, visuals should be limited to a single concept.

The owner of a company that builds electric-car recharging stations is trying to determine whether or not to develop the California market. To adequately evaluate expansion conditions and demand for the stations, the owner needs meaningful information. Which of the following types of software system will best provide the owner with the necessary information? A.Decision support system B.Business information system C.Operational support system D.Management information system

(A) is correct. A decision support system acts as a what-if analysis system by assisting in the evaluation of alternative courses of action.

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 United States 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.It 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) is correct. A mutual fund is a collection of assets (stocks, bonds, etc.) selected and managed by an agent for its shareholders. It is not a government bond, a negotiable instrument, or a debt investment.

Of the following, which primarily benefits an American multinational company? A.Implementation of a positive trade agenda B.Enactment of policies that reduce foreign direct investments C.Increased competition with foreign state-owned enterprises D.Exclusion from global supply chains

(A) is correct. A positive trade agenda is beneficial to American multinational companies.

Which of the following is the most appropriate way to begin a sales letter? A.Asking a question to get the reader's attention B.Highlighting the product while appealing to the reader's intellect C.Supplying evidence of the value of the product D.Asking the reader to make a purchase by a specified date

(A) is correct. A sales letter should begin with an attempt to get the reader's attention by asking a question.

Which of the following is a primary reward for an entrepreneur? A.Showcasing one's unique expertise and skills B.Assuming total responsibility for the business C.Working extensive hours D.Enduring financial risks

(A) is correct. Advantages of an entrepreneurship are satisfaction from taking a risk and becoming a success, showing expertise and skills, working from home, and gaining a profit.

In which of the following leadership styles does a leader make all decisions and tell subordinates what to do and how to do it? A.Authoritarian B.Democratic C.Existential D.Laissez-faire

(A) is correct. An authoritarian management style is one in which the manager makes all the decisions and instructs subordinates on what to do and how to do it.

A high school student would like to gain practical hands-on management experience in the restaurant industry, and the restaurant next to the high school offers an unpaid opportunity. Which of the following terms best describes the opportunity? A.Internship B.Apprenticeship C.Job shadow D.Journeywork

(A) is correct. An internship program provides a beginner in an occupation with hands-on experience, usually as an unpaid trainee.

Which of the following is the most accurate description of asynchronous communication in online classes? A.It takes place outside of real time. B.It requires multiple users to log in and interact at the same time. C.It elicits responses within a short time. D.It enables lectures and presentations to occur at a specific time.

(A) is correct. Asynchronous communication and activities take place outside of real time. Asynchronous tools allow individuals to connect at their convenience.

Chester owns a dry-cleaning business specializing in the cleaning of fine fabrics. Many of his customers began buying machine-washable clothing, and his business began to decline. He plans to add shoe repair and tailoring services to his business. He plans to use new signage on the premises of his store to advertise the new services. Which of the following best identifies the entrepreneurial characteristic described? A.Problem-solving skills B.Tolerance for ambiguity C.Strong integrity D.Ability to secure capital

(A) is correct. By figuring out other services to provide at his business to help it succeed, Chester is demonstrating his problem-solving skills.

Which of the following best describes cooperative education? A.The integration of classroom learning with productive work experiences B.The integration of classroom learning with virtual job-shadowing experiences C.The participation of students in summer internships D.The participation of students in advisory committees

(A) is correct. Cooperative education students are directly applying their classroom learning to a work experience that is in line with academic studies or career goals.

Which of the following is a primary cause of a discharge of all contractual duties? A.Complete performance of the terms of the original contract B.Breach of the terms of the original contract C.Default of the terms of the original contract D.Substantial performance of the terms of the original contract

(A) is correct. Most contracts are discharged by complete performance of the terms of the contract.

A business teacher wants to instruct students about effective communication skills. The teacher can best model communication skills by speaking A.in reference to written notes B.in an impromptu fashion C.from memorized lessons D.from a prepared script

(A) is correct. Referring to notes is an acceptable methodology in communication. The method demonstrates effective planning and best holds an audience's attention.

Ms. Jones tells her students that an upcoming assignment will require them to follow a person throughout a workday to see what that person's job involves. Which of the following career-exploration programs is the best example of what the students will be doing? A.Shadowing B.Internship C.Journeywork D.Apprenticeship

(A) is correct. Shadowing means following a person throughout a workday to see what a job involves.

Which of the following is one of the primary goals of a cooperative office-education program? A.Applying business concepts to school and work B.Learning ways to operate and maintain a business C.Working without supervision and direction D.Obtaining a job and a salary after graduation

(A) is correct. Students learn business skills used for school and work in a cooperative office education program. The program provides students with part-time office employment combined with classroom instruction in human relations, office etiquette, time management, and computer operations and techniques.

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) is correct. The law of demand holds that a decline in the price of a good will cause consumers to buy more of that good.

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) is correct. The question assesses knowledge of communication and career development. Listing employment openings with required skill descriptions is by definition recruiting.

Raven must compare her division's sales over the past five years. She wants the comparison to provide a quick assessment of which years were average and which were below average. Which of the following methods of presentation would work best for Raven? A.Bar chart B.Pie chart C.Statistical chart D.Tabular display

(A) is correct. The question requires knowledge of various types of charts and displays. Since Raven wants to show results and compare sales over time, the bar chart would provide the most effective display.

Which of the following is true of a persuasive résumé? A.It emphasizes skills and achievements aimed at a particular job or company. B.It minimizes the length of the document to one page. C.It is printed on high-quality stationery paper using a high-resolution printer. D.It is accessible to digital scanning.

(A) is correct. The question tests knowledge of résumé writing. An effective résumé demonstrates how the candidate's skills and achievements meet the needs of a particular company.

Which of the following combinations of policies is the United States federal government most likely to follow during a recession? A.Increasing government spending and increasing the 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) is correct. The question tests understanding of government and banking policies. A recession is a period of falling demand and lower interest rates. Generally, during a recession, the unemployment rate increases because the demand for goods is depressed. Any increase in taxes would further reduce consumer spending. Increasing the money supply would have the effect of increased employment, since more money would be available to the consumer for spending.

If a growing firm experiences economies of scale, prices will most likely A.decrease B.equal costs C.increase D.stay the same

(A) is correct. When a firm experiences economies of scale, prices will decrease for consumers.

Owners of a prospective start-up business have created a business plan identifying projected costs of operation, labor needs, and an appropriate location for the business. If the business fails, however, it is primarily due to A.a lack of cash flow B.the cost of the start-up C.a lack of qualified employees D.the location

(A) is correct. While the costs of operation are researched fairly extensively before beginning an enterprise, economic conditions may cause cash flow problems.

A manager of a business seeks to improve decision-making practices and invites a consultant to explain to employees how external factors can influence ethical choices. Which of following should the consultant discuss as factors that impact ethical decision making? Select all that apply. A.Family patterns B.Experiences C.Cultural background D.Gender

(A), (B), and (C) are correct. Family patterns, personal experiences, and cultural biases are factors that influence a person's ethical behavior.

Which THREE of the following activities are examples of monetary policy goals for the Federal Reserve? A.Preventing high inflation rates B.Reducing the size of the banking sector C.Maintaining high interest rates D.Keeping unemployment rates low E.Stabilizing prices

(A), (D), and (E) are correct. The goal of the Federal Reserve and its monetary policies is to promote maximum employment, stabilize prices, and prevent high inflation rates.

Leland works for a business that is owned by many people. However, according to the law, the business is treated as if it is owned by one person. This form of ownership is best known as a A.limited liability company B.corporation C.nonprofit organization D.franchise

(B) is correct. A corporation is a business owned by many people but treated by law as if it is owned by one person.

A firm buys products directly from a manufacturer and sells them to retailers. Which of the following supply chain positions does the company most closely represent? A.Contractor B.Wholesaler C.Transporter D.Dispatcher

(B) is correct. A firm that buys products directly from a manufacturer and sells them to retailers is a wholesaler.

Which of the following types of information is the most critical to making marketing decisions? A.Product quality B.Customer wants C.Competition offerings D.Government regulations

(B) is correct. A knowledge of customer wants is the most critical element of making marketing decisions.

Two friends decide to purchase and operate a food truck together. Each of them makes a $50,000 investment, and they share equally in the profits. Which of the following business arrangements do the two friends have? A.Sole proprietorship B.Partnership C.S corporation D.Corporation

(B) is correct. A partnership is a type of business organization in which two or more individuals pool money, skills, and other resources and share the profits or losses.

A company wants to set up a computer network that will allow its employees to easily communicate with customers, vendors, and suppliers while maintaining a basic level of information security. Which of the following networks is most appropriate for the company to use? A.Telnet B.Extranet C.Local area D.Wide area

(B) is correct. An extranet is a semiprivate network that allows more than one company to access the same information. A company may also use the extranet to manage and communicate with customers, vendors, suppliers, and other organizations through secure Web sites.

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) is correct. Computer literacy, records management, and time management are all skills that can be taught and improved by a business. Communication skills are the one competency that employees must possess as they enter the job.

Which of the following actions is the best example of an appropriate government intervention in a mixed economy? A.Setting prices for a new product B.Granting a subsidy to a business sector C.Hiring employees for a construction site D.Participating in managerial decision making

(B) is correct. Granting a subsidy such as a tax credit to a business sector is an example of direct government intervention in a mixed economy.

A manufacturer notices that prices in the market have increased. According to the laws of supply, it is most appropriate for the manufacturer to A.produce less B.produce more C.stop production for a while D.produce the same amount

(B) is correct. High prices encourage firms to produce more, and low prices discourage production.

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) is correct. Interest on a savings account is compounded as the year passes, so the stated rate differs from the actual, or effective, rate.

The principal at a high school conducts a staff meeting to explain a new district policy. A teacher at the back of the room is texting on a phone. Which of the following most closely represents the teacher's barrier to receiving the principal's message? A.Perceptual difference B.Distraction C.Ethnic difference D.Emotions

(B) is correct. Texting on the phone is a distraction, which is a type of barrier to communication.

The role of an advisory committee primarily involves A.administrative control B.promoting public relations C.evaluating instructors D.budgetary control

(B) is correct. The function of an advisory committee is to promote public relations.

Which of the following theories is most closely associated with motivational management? A.Chaos theory B.Instinct theory C.Contingency theory D.Systems theory

(B) is correct. The instinct theory of motivation states that leaders are motivated to lead because there is something innate that allows them to be leaders. The theory is associated with internal motivation.

Which of the following statements is primarily true of business plans? A.Most business plans are developed for a period of five years. B.Business plans are most commonly used for financial requests. C.Entrepreneurs rely on business experts to write their business plans. D.Business plans must be approved by a government agency.

(B) is correct. The most popular use of business plans is to obtain funding.

Which of the following stages in the product life cycle usually occurs first? A.Growth B.Market introduction C.Maturity D.Saturation and decline

(B) is correct. The question requires that you understand the life cycle of a product. Once introduced into a market, products grow, mature, and decline.

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) is correct. The question tests your understanding of basic accounting concepts. The basic accounting equation is: total assets minus total liabilities equals net worth.

A business owner decides to form a corporation. Which of the following describes where the company must file a charter? A.The state where the company's chief executive officer lives B.The state where the company's headquarters are located C.States where the company will conduct local business D.Countries where the company will conduct Internet business

(B) is correct. To form a corporation, a company must file a charter in the state where its headquarters will be located.

Mr. Smith, a salesperson, describes to his supervisor, Ms. Thomas, a plan that he believes can improve the product flow in the distribution channel. While listening intently, Ms. Thomas shows she recognizes the salesperson's point of view and relates the suggestion to her own thoughts about improving the distribution process. Which of the following communication techniques best describes what the supervisor is doing while listening? A.Reviewing the information B.Understanding the idea C.Providing feedback D.Quantifying the procedure

(B) is correct. Understanding requires listening, recognizing, and relating information for communication to be effective.

A high school business instructor knows that a reasonable (i) __________ for a special population would be any change in the classroom environment that will enable an individual with a (ii) __________ to participate in all classroom activities that are available to all other students. Blank (i) A. expectation, B. modification, C. accommodation Blank (ii) D. disability, E. skill, F. privilege

(C) and (D) are correct. Blank (i) is accommodation. An accommodation is an adjustment or support given to students in order for them to have access to the same educational opportunities as other learners. The correct answer for Blank (ii) is disability. A disability is a physical or mental impairment that substantially restricts the ability to perform an activity that someone of the same age is able to perform.

In a multifaceted, ever-changing world, business leaders who are (i) ___________ , who do more and more, faster and faster, are less likely to be (ii) __________ and are more susceptible to making ethical mistakes. Blank (i) A. transformational, B. autocratic, C. hyperactive Blank (ii) D. idealistic, E. innovative, F. independent

(C) and (E) are correct. Blank i: hyperactive-leadership response resulting from an ever-changing complex world. Blank ii: innovative-refers to the development of new ideas/solutions to meet the customers' needs. When a leaders is in a rush, going faster and faster, taking time to be reflective and innovate suffers and the organization suffers as a result.

A group of teachers decide to pool their hobby skills to create a new business. These skills will be available for any of the teachers in the group to use. Which of the following business models most closely represents the teachers' new business? A.Franchise B.Home-based business C.Cooperative D.Limited liability corporation

(C) is correct. A cooperative business belongs to the people who use it.

Sarah wants to thank her manager for allowing her to attend a business-related seminar and then share what she learned from the seminar. Which of the following is the most appropriate form of communication for Sarah to use? A.Text B.Memo C.Letter D.E-mail

(C) is correct. A letter is a formal form of communication within or outside of an organization. Business letters are considered to be more formal than memos.

Which of the following is the first step in the managerial decision-making process? A.Solving a problem B.Evaluating the problem C.Identifying an opportunity D.Generating alternative solutions to the problem

(C) is correct. Business involves the search for opportunities, and the first step in such a process is to define an opportunity. Once you've identified the opportunity, scenario generation can begin.

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

(C) is correct. Consumer sovereignty is an economic theory that suggests that the final consumer's wants and preferences drive the production of goods and services in that economy.

Water, gas, and electric companies are primary examples of which of the following types of monopolies? A.Restricted-input B.Technological C.Natural D.Geographic

(C) is correct. Economies usually support only one or two utility suppliers due to high operation costs, which is characteristic of a natural monopoly.

A teacher needs to send out a high-priority e-mail to her supervisor. Which of the following is the most appropriate way to send an urgent e-mail? A.Sending the message with a subject heading of "URGENT!" B.Sending the message with a subject heading of "Please read ASAP ASAP" C.Sending the message with a relevant subject heading, tagged as urgent (!) in the e-mail program D.Sending the message with the urgency of the subject matter stated in the body of the e-mail

(C) is correct. Indicating the subject of the e-mail and using the urgent (!) feature on the e-mail program notes the urgency in a subtle and professional way.

A CEO's CEO's administrative assistant wants to be certain that an e-mail written by another employee can be passed on to the CEO's CEO's subordinates. Before sending the e-mail, the administrative assistant should first consider if the e-mail A.includes a chain of messages from several employees B.contains an exchange between the e-mail's author and the CEO CEO C.is approved by the author for the CEO CEO to forward D.involves confidential information

(C) is correct. It is most important that the administrative assistant is certain that the e-mail's author has given permission for the message to be forwarded.

A company is planning to sell the rights to its brand name for use in other countries. Which of the following terms most closely describes the situation? A.Joint venture B.Free trade agreement C.Licensing agreement D.Direct foreign investment

(C) is correct. Licensing is selling the right to use some intangible property (production, process, trademark, or brand name) for a fee or royalty.

Jacob recently started working at a business in which people of many cultures work. When Jacob communicates with someone of another culture, it is most appropriate for him to A.remain casual by using idioms B.ignore the person's body language C.listen actively to the person D.correct the person's English

(C) is correct. Listening actively means not just listening but also observing.

A local game store is trying to attract members of generation Y. Which of the following promotional approaches will primarily get the attention of generation Y consumers? A.Coupons in the local weekly newspaper B.A commercial on a national radio station C.Information posted on a company Web site D.A full-page advertisement in a national magazine

(C) is correct. Members of generation Y are technologically savvy; they have grown up with computers and the Internet playing a significant part of their lives.

An office manager prepares a memo to employees regarding the retirement of the company's chief financial officer and the search for a replacement. Which of the following purposes best describes the reason for the memo? A.Providing a record B.Promoting goodwill C.Supplying information D.Stating a policy

(C) is correct. Memos of this sort are most frequently used to provide information.

Which of the following is a primary reason a country might use import tariffs, quotas, or licensing requirements? A.To expand its export opportunities B.To increase its consumer choices C.To protect its consumers and industries D.To maximize market competition

(C) is correct. Tariffs, quotas, and licensing can be utilized by governments to equalize an exporting nation's manufacturing and labor advantage to protect the importing nation's industrial sector, labor force, and consumers.

Jesse is thinking about applying for a loan and wants to know what information is in her credit file. Which of the following laws gives her the right to know that information? A.Fair Credit Billing Act B.Equal Credit Opportunity Act C.Fair Credit Reporting Act D.Consumer Credit Protection Act

(C) is correct. The Fair Credit Reporting Act gives consumers the right to know what is in their file.

The largest number of employees that a small business can have is A.500 employees B.750 employees C.determined by the type of industry of the business D.determined by the North American Industry Classification System

(C) is correct. The definition of "small business" varies by industry.

Which of the following most closely represents an example of using the grapevine to get information about a company policy change? A.Reading an article from the corporate newsletter B.Asking upper management in a meeting C.Questioning coworkers during a lunch break D.Posting a news release on the intranet

(C) is correct. The grapevine is an informal channel of business communication. It is called this because it stretches throughout an organization in all directions, irrespective of authority levels. The coworkers' discussion during their lunch break is an example of this.

Vance, the owner of an apparel store, advised Julia, the store manager, to use her best judgment when selecting merchandise for the store. Vance's only caution was, "Do not buy designer jeans." Later, Julia did purchase a line of designer jeans from Casual Wear, Inc., but they did not sell, causing a large inventory buildup. Casual Wear 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 the jeans B.had implied authority to purchase the jeans C.had apparent authority to purchase the jeans D.was an undisclosed principal

(C) is correct. The manufacturer, Casual Wear, had every reason to expect that Julia had authority regarding purchasing decisions because of her position as store manager. This is apparent authority.

Which of the following statements is primarily accurate about true market economies? A.Everyone's needs and wants are met. B.Goods and services are distributed evenly. C.The government removes barriers to trade. D.Major resources are owned by the state.

(C) is correct. The primary role of government in a market economy is to support the marketplace by removing obstacles such as trade barriers.

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 require a showing of negligence. D.It does not apply to a third party in the contract.

(C) is correct. The question assesses knowledge of contract law. Strict liability is a legal doctrine that makes some persons responsible for damages their actions or products cause, regardless of any fault on their part. It does not require proof of negligence.

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 foreign markets for its products C.the outflow of its currency D.inflation

(C) is correct. The question requires a knowledge of international trade and economics. When a nation imports more than it exports, there is always an increase in the outflow of its currency because the nation is spending more than it is receiving.

In communicating with a businessperson for whom English is a second language, one should talk slowly, enunciate clearly, observe body language, check frequently for comprehension, and do which of the following? A.Assume that the businessperson understands if he or she nods in agreement B.Avoid smiling, which might come across as lack of seriousness C.Encourage accurate feedback by asking probing questions D.Use vocabulary words that will impress the businessperson

(C) is correct. The question requires an understanding of effective communication strategies. Communication is a two-way process, and one should look for confirmation that a person understands the message. Engaging in dialogue is the most effective indicator.

Human capital is best described 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) is correct. The question tests knowledge of an economics term used by management. Human capital refers to the skills, knowledge, and abilities of human beings that can be used to create value for themselves, their employers, or their community.

The quick ratio and current ratio best indicate a company's A.efficiency B.growth rate C.liquidity D.profitability

(C) is correct. The question tests knowledge of basic accounting/finance concepts. Ratios of financial statement items provide snapshots of the financial status of an entity at a single point in time. The quick ratio is simply the result of dividing the difference between current assets and inventories by current liabilities. The larger the number, the greater the liquid assets. Similarly, the current ratio is calculated by dividing current assets by current liabilities. The larger the number, the more cash the entity has on hand. Both ratios measure liquidity.

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 exemptions B.Itemized deductions and adjustment deductions C.Standard deductions and itemized deductions D.Adjusted gross income and taxable income

(C) is correct. The question tests understanding of taxation. Each taxpayer is allocated a particular amount of standard deduction. If the taxpayer is able to demonstrate that the itemized deductions are greater than the standard deduction, then the itemized figure can be used.

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) is correct. The question tests your knowledge of investing. A share of common stock is always valued at the current market price.

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 the assets D.condition statement noting assets and incomes

(C) is correct. This question asks you to apply your knowledge of accounting concepts. A balance sheet is a statement of condition that shows assets and claims against the assets (owner's equity and liabilities).

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 Expense 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 should be credited.

(C) is correct. This question tests your knowledge of accounting concepts. The two accounts that are involved with this transaction are Office Furniture, an asset account, and Accounts Payable, a liability account. The asset Office Furniture was chosen because it represents the total of all office furniture owned. Since the transaction will increase the asset Office Furniture, that account should be debited. Accounts Payable was chosen because the furniture was bought on account (for credit). Since Accounts Payable is a liability and it has increased, it should be credited.

Which of the following is a primary advantage of using a USB USB flash drive? A.Nontransportable data storage B.Large capacity data storage C.Inexpensive data storage D.Long-term data storage

(C) is correct. USB USB flash drives are inexpensive and are an easy way to store data.

A national car manufacturer is attempting to improve the efficiency of its assembly plant. To most effectively plan and implement a new process, the company should focus on which of the following? A.Equipment ergonomics B.Quality improvement C.Workflow analysis D.Workforce reduction

(C) is correct. Workflow analysis is a structured approach to identify and enhance work processes.

Which of the following provides a secure, reliable connection within a shared public network? A.Metropolitan area network B.Intranet C.Internet D.Virtual private network

(D) is correct. A VPN is a secure private network that is constructed within a public network infrastructure, such as the global Internet.

An employee is concerned about the conduct of a colleague. Which of the following is the most appropriate way for the employee to address the matter? A.E-mailing the colleague about the problem and sending a copy to the supervisor B.Writing a letter to the colleague and filing a copy with the office manager C.Ignoring the problem and focusing on a positive aspect of the colleague D.Setting up a face-to-face meeting with the colleague and discussing the problem

(D) is correct. A face-to-face meeting permits both parties to exchange ideas, view nonverbal cues, and move more quickly to solving the problem.

Two business people invested $300,000 each in the same new venture and have listed themselves as non-decision makers in the partnership agreement. Which of the following roles do they have in the new venture? A.General partners B.Stakeholders C.Shareholders D.Limited partners

(D) is correct. A limited partner invests capital in a business but does not participate in its management.

Michael, a recent college graduate, wants to start his own business. He approaches his parents to ask for help with funding the business. His parents want to invest in the business, but also want to restrict their exposure and accountability. Which of the following types of ownership would be best for Michael's business? A.S corporation B.General partnership C.Joint venture D.Limited partnership

(D) is correct. A limited partnership allows each partner to restrict his or her personal liability to the amount of his or her business investment. Not every partner can benefit from this limitation—at least one participant must accept general partnership status, exposing himself or herself to full personal liability for the business's debts and obligations. The general partner retains the right to control the business, and limited partners do not participate in management decisions.

Mr. Brown has been asked to attend a training seminar. He feels that he should be teaching the seminar rather than attending it. Which of the following obstacles to effective listening is primarily present in this situation? A.A view about the speaker B.An attitude about the topic C.An environmental distraction D.A personal barrier

(D) is correct. Assumptions made in advance about information act as a personal barrier.

A company creates a name and design for a new product that identifies it and differentiates it from other products on the market. Such a process is best described as A.advertising B.promoting C.trademarking D.branding

(D) is correct. Branding is when a business creates a name, symbol, or design.

Which of the following most closely describes a brand name? A.A symbol used to represent a company B.A character used to promote a company C.A legally protected trademark of a company D.A word or phrase used to identify a company

(D) is correct. Brands are distinctive words or phrases that represent a company.

Which of the following is the best example of something that can be copyrighted? A.List of ingredients used by a company to create a private label of body lotion B.Process for combining the ingredients to create a private label of body lotion C.Exclusive name of a private label of body lotion D.Advertisement for a private label of body lotion

(D) is correct. Copyright protects original works of authorship, and an advertisement is created by a writer or author.

Which of the following would be classified as other income on an income statement? A.Sales discount B.Merchandise inventory C.Sales returns and allowances D.Interest earned

(D) is correct. Interest earned would be correctly classified as an "other income" account.

In 1917, federal legislation provided funding for vocational student organizations. Which of the following legislative acts primarily continues that funding? A.Every Student Succeeds Act B.School-to-Work Opportunities Act C.Elementary and Secondary Education Act D.Carl D. Perkins Career and Technical Education Act

(D) is correct. The Smith-Hughes Act of 1917 (sponsored by Smith and Hughes) provided federal support for vocational education programs. The Carl D. Perkins Career and Technical Education Act of 2006 continues that funding.

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) is correct. The break-even point is the point at which the total costs match the total revenue.

An employee sends an e-mail message to a colleague at the company's office in Beijing. To ensure that the transmission is clear, the employee carefully selects words that the colleague will understand. This is an example of which of the following parts of the communication process? A.Decoding B.Noise C.Feedback D.Encoding

(D) is correct. The employee's actions best demonstrate message encoding, which is the process of converting an idea into words or gestures that will convey meaning.

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) is correct. The primary purpose of an accounting system is to provide actionable accounting information efficiently.

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) is correct. The question assesses knowledge of how to calculate simple interest. Simple interest is calculated by multiplying the principal by the rate of interest by the time of the loan. Multiplying $2,000 by 0.12 by 1 equals $240.

Which of the following objectives best supports current trends and the United States government's role in international trade? A.Encourage diplomacy between countries B.Improve campaign financing regulations C.Increase the influence of the Department of Commerce D.Reduce trade barriers such as tariffs and quotas

(D) is correct. The question requires knowledge of current trends in international business. Since the United States today relies on goods and services from other countries, it is in the country's interest to remove impediments to free trade such as tariffs and quotas.

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) is correct. The question tests knowledge of contract law. Since the item purchased was a unique item and was still in the possession of the seller, the only remedy would be to have the coin delivered to the buyer. This is specific performance.

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) is correct. The question tests knowledge of federal vocational education legislation. The Carl D. Perkins Vocational and Technical Education Act, reauthorized in 1998, allocates federal funding for the training and development of vocational skills in secondary and post secondary institutions.

In developing basic keyboarding skills, a teacher should place greatest emphasis on student behavioral objectives related to the A.knowledge level of the cognitive domain B.comprehension level of the cognitive domain C.characterization level of the affective domain D.perception level of the psychomotor domain

(D) is correct. The question tests one's knowledge of applied domain theory. Since keyboarding skills are related to psychomotor activity, behavioral objectives should focus on the perception level of the psychomotor domain.

When the totals of a trial balance are equal, it can be determined 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) is correct. The question tests your knowledge of basic accounting concepts. The purpose of the trial balance is to prove that all entries have been posted equally to the debit and credit sides of the affected accounts.

Which of the following actions increases the accounts receivable balance? A.Prepaying warehouse rent for a year B.Increasing employee salaries C.Purchasing inventory with cash D.Selling products on credit

(D) is correct. The selling of products on credit generates a liability that must be collected, thereby increasing the accounts receivable balance.

To accurately calculate the funds a company has available to pay expenses in the short run, an employee should review the A.statement of retained earnings B.income statement C.balance sheet D.statement of cash flows

(D) is correct. The statement of cash flows details the cash a company has available to pay expenses.

The owner of an online store queries the customer database for birth dates in order to send customers a digital coupon for $5 off a single purchase made during their birth month. The owner's actions are an example of which of the following? A.Data mining B.Cluster analysis C.Reciprocity D.Trawling

(D) is correct. Trawling is the act of searching a database for a specific piece of information, such as a birth date.

A DECA instructor wants to create an effective work-based learning experience for students. Which of the following should be the instructor's primary focus for the program? A.Student wages are comparable to the state average. B.The students are able to fulfill the job requirements. C.Job skills meet each student's graduation plan. D.The real-world employment is linked to the classroom.

(D) is correct. Work-based students have to be able to see how classroom instruction is relevant to real-world experiences.

Melinda's mother left a detailed will describing her wishes regarding the division of her real and personal property. Which of the following courts will administer the will and estate? A.Municipal court B.Circuit court C.Federal district court D.Probate court

D) is correct. Probate court deals with the legal certification of wills and the administration of estates of the deceased.

Mr. Hines, a business teacher, works with his students to learn how electronic collaborative learning tools can benefit various businesses. Students study the similarities and differences in wikis and blogs to best understand how they can be used to promote a business's mission. For each of the following statements, indicate whether it is a characteristic of a blog, a wiki, or both.

First statement: Blog collaborators can leave comments but not edit the author's statements. Wiki collaborators can edit the content on the site. Second statement: Blog posts are organized in reverse chronological order. A wiki is organized using a collection of hyperlinks to other individual pages. Third statement: Both blogs and wikis incorporate social software allowing individuals to achieve goals as a group.

Place each of the following descriptions with the most appropriate agency below. (A) This agency regulates radio,television, telecommunications,broadband, and emergency communication systems. (B) This agency rates the ethical and community standing of a firm to maintain a level of trust between businesses and the public. (C) This agency enforces laws and sets standards for financial disclosure and other pertinent information about firms that trade stock. (D) This agency's chief focus is to prevent fraud and deceptive business practices and to ensure fair competition. (E) This agency establishes and enforces standards and laws for working conditions in commercial and industrial sectors.

Occupational Safety and Health Administration E.This agency establishes and enforces standards and laws for working conditions in commercial and industrial sectors. Federal Trade Commission D.This agency's chief focus is to prevent fraud and deceptive business practices and to ensure fair competition. Better Business Bureau B.This agency rates the ethical and community standing of a firm to maintain a level of trust between businesses and the public. Federal Communications Commission A.This agency regulates radio,television, telecommunications,broadband, and emergency communication systems. Securities and Exchange Commission C.This agency enforces laws and sets standards for financial disclosure and other pertinent information about firms that trade stock. OSHA establishes and enforces standards and laws for working conditions in commercial and industrial sectors. The FTC's FTC's chief focus is to prevent fraud and deceptive business practices and to ensure fair competition. The BBB BBB rates the ethical and community standing of a firm to maintain a level of trust between businesses and the public. The FCC FCC regulates radio, television, telecommunications, broadband, and emergency communication systems. And the SEC SEC enforces laws and sets standards for financial disclosure and other pertinent information about firms that trade stock.

Match the workplace action with the type of ergonomic control it best exemplifies. (1) Using a device to lift and relocate heavy objects to limit force exertion (2) Requiring that heavy loads be lifted by two people to limit force exertion (3) Using padding to reduce direct contact with hard or vibrating surfaces

The correct answer is (3), (1), (2): Personal and protective equipment (Using padding to reduce direct contact with hard or vibrating surfaces); Engineering controls (Using a device to life and relocate heavy objects to limit force exertion); Administrative and work practice controls (Requiring that heavy loads be only lifted by two people limit force exertion).

A company's IT IT department designs computer systems that meet the needs of the company. The computer systems are created in layers. Place each of the following components of a computer system in order from bottom to top. (1) Application software (2) End user (3) Hardware (4) Operating system

The correct answer is (3), (4), (1), and (2). The hardware is the bottom, or the basis, of any computer system. It's the shell. The operating systems connects to the hardware, and it's the platform where the application software lives. The application software is what the end user uses to computer and manipulate information. The end user is the top of the system. The user can't compute without the other components in the correct order.

Mark inherited a large sum of money and wants to purchase bonds that will be a safe, long-term guaranteed investment. Which TWO of the following bonds are best for him to purchase? A.I bonds B.Municipal bonds C.Corporate bonds D.Junk bonds E.EE bonds

(A) and (E) are correct. Both I bonds and EE bonds are savings bonds sold by the federal government. U.S. savings bonds are considered one of the safest types of investments.