Business Final
Some employers use a software platform called ... to communicate ideas and suggestions.
False
True or false: All strikes are now legal to organize.
Sole proprietorship
What is the most common form of business ownership?
Flowchart
A graphical representation of a process is known by which term?
All of the above
A job description includes which of the following?
All of the Above
The Accounting Equation is:
Copay
What is the name given to the small amount that the insured employee is responsible for paying when he or she visits a physician or a dentist?
Union Organizer
What is the name of the person who helps set up a union in a workplace?
Onboarding
What is the process in which you orient and train new employees to be successful in their new roles?
Micromanagement
According to the reading, what is a type of effective management?
Accounting Equation
Assets = Liabilities + Owner's Equity (Capital) is known as which equation?
All of the Above
If a company does not have enough capacity to consistently meet an order by a certain timeline it can:
$1.50
If a concession stand business sells a hot dog for $2 and it makes $.50 gross profit off just the sale of the hot dog, how much is the Cost of Goods Sold?
Bring the product to market faster
Making the manufacturing process more efficient can:
Personal Development
Milestones are helpful in what sort of plan for employees?
5
Operations risk management includes how many steps?
Waste
Reducing ... can reduce costs and lead to higher profit margins.
Rich
Some economists say strong unions help strengthen which socioeconomic group?
Double-entry
The balance sheet is at the heart of which type of bookkeeping?
Law of Large Numbers
The more companies an insurance company insures, the more likely they can predict the percentage of losses over a given period of time. This is known as:
Partnership
What is a form of business ownership in which two or more people jointly?
Budget
What is a term used for the listing of your monthly expenses?
Industrial Dispute
What is another name for a strike?
Ideation
What is the life cycle of an idea, from the original idea through, in some cases, its actual implementation?
Contract
What is the name for a legally binding agreement in which the company agrees to provide products and services?
Purple squirrel
What is the term used by recruiters to describe their ideal candidate?
Financial model
What is the term used for a 3-5 year forecast of your income and expenses?
Deductible
What is the term used for the amount that an employee must pay for medical or dental care before insurance begins paying?
Cost of Goods
What is the term used to describe the cost to produce, package, and deliver one item?
Breakeven point
What is the term used to describe the point where your revenue equals your expenses?
Employee Supervision
What managerial practice is vital to the growth of your employees, managers and business?
Both
What may managers rely on to decide if they'd like to interview a candidate in person?
Corporation
What type of business can be designated as profit or non-profit?
All of the above
Which of the following is a key objective of operations management?
Enforce hierarchy
Which of the following is not a way to require employee accountability?
They are all used
Which of the following is not used to calculate the cost of goods sold in a manufacturing business?
Restricted tender
Which type of bid is restricted to a select group of prescreened manufacturers?