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