BUSN 101 EXAM QUIZ ?'S

The just-in-time (JIT) system schedules the arrival of inventory so that it can be used almost immediately and will not need to be stored on site. True False

True

Financial institutions act as intermediaries between suppliers and demanders of funds. They accept savers' deposits and invest them in such things as business loans or mortgages. This process is called: financial intermediation financial coordination financial equilibrium depository intermediaries intermediary banking

financial intermediation

Within the distribution channel, retailers and wholesalers are called: inventory control agents marketing intermediaries movement facilitators logistical managers industrial users

marketing intermediaries

The oldest and largest organized securities exchange in the United States is the: American Stock Exchange Dow Jones Stock Exchange National Stock Exchange Chicago Board of Exchange New York Stock Exchange

New York Stock Exchange

Which of the following is NOT one of the five key types of power? Reward Expert Referent Legitimate Influential

Influential

_____ is the process of guiding the development, maintenance, and allocation of resources needed to attain organizational goals. Functional coordination Strategic planning Tactical planning Motivation Management

Management

Signal lights at a typical street intersection would best represent which functional area of a business? Marketing Accounting Management Information Systems Supply Chain Management

Management Information Systems

Which of the following is NOT one of the four functions of management? Planning Controlling Organizing Budgeting Leadership

Budgeting

Which of these is not one of the three elements of supply chain operations mentioned in the LinkedIn Learning video? Branding Operations Logistics Procurement

Branding

Many large companies entrust an executive with managing all information resources. What is a typical title for this position? Chief Knowledge Officer (CKO) Chief Executive Officer (CEO) Chief Technology Officer (CTO) Chief Information Officer (CIO)

Chief Information Officer (CIO)

From the article, "Stephen Boyer, CTO and co-founder of BitSight, a company that specializes in third-party risk management, said the breach highlights the threat posed to companies by network-connected outsiders." CTO is an abbreviation for what?

Chief Technology Officer

_____ are profit-oriented depository financial institutions that accept deposits, make business and consumer loans, invest in government and corporate securities, and provide other financial services. Commercial banks Thrift institutions Finance companies Credit unions Investment banks

Commercial banks

Which of the following is NOT a marketing activity? Promotion Price Distribution Compliance

Compliance

A _____ is a formal document that states an organization's purpose and reason for existing and describes its basic philosophy. corporate manifesto mission statement vision company proclamation principle of existence

mission statement

Production and operations management involves three main types of decisions that are made at three different stages. The first type of decision to be made deals with: Production planning improving production and operations the establishing of critical paths inventory control production control

Production planning

Curtiss Anaya is planning to sell kites on the beach this summer to pay for next year's school expenses. _____ refers to the potential that Curtiss will lose money and waste his time and end up at the end of the summer with not enough money to cover his expenses. Profit Risk Revenue Opportunity Cost

Risk

The ______ is a specific group of customers on whom an organization focuses its marketing efforts. Customer population Target market Marketing mix Customer market

Target market

In the information technology world, VPN is an abbreviation for what?

Virtual Private Networks

At the end of the semester, instructors upload Canvas grades to Howdy so that final grades can be processed. Is this an example of real-time processing of data or batch processing? real-time processing of data batch processing

real-time processing of data

The quantity of a product or service that businesses will make available at various prices is called: market potential demand supply capacity market share

supply

The equation that represents a customer's subjective assessment of benefits relative to costs in determining the worth of a product is: value = customer costs + customer benefits value = price - customer costs value = customer benefits - customer costs value = customer benefits - customer risk

value = customer benefits - customer costs

_____ stock is a security that represents an ownership interest in a corporation and has voting rights. Preferred Common Par value Treasury Equity

Common

_____ is the set of attitudes, values, and standards that distinguishes one organization from another. The mission statement Strategic policy Corporate policy Corporate culture Strategic environment

Corporate culture

_____ makes products available in quantities desired to as many target market customers as possible. Distribution Product Promotion Price

Distribution

Which of these is not a main production planning decision for operations managers? Production control Employee compensation Production planning Improving productions and operations

Employee compensation

Things of value owned by a firm are called its: intangibles owners' equity tangibles assets liabilities

assets

The _____ summarizes an organization's financial status at the end of an accounting period. trial balance income statement cash flow statement balance sheet accounts payable ledger

balance sheet

As one of the factors of production, capital includes all of the following EXCEPT: tools machinery equipment money delivery trucks

delivery trucks

The ratio of net profit to the number of shares of common stock outstanding is called the: equity earnings earnings per share earnings for profit stock-to-earnings ratio profitability index

earnings per share

he physical arrangement of a production facility is called its: capacity layout process resources plat

layout

Current assets, such as marketable securities and inventory, usually are expected to be turned into cash within: one month five years one year eighteen months two years

one year

Dividends are: annual payments on bonds the earnings of the corporation payments to the shareholders from company earnings guaranteed payments to the common shareholders loans made to the shareholders

payments to the shareholders from company earnings

Laws passed by the U.S. Congress concerning how U.S. businesses trade with Cuba would be an example of _____ factors that influence the business environment. social and cultural demographic economic competitive political and legal

political and legal

Which of the following is the best example of a good? the physical examination you received from your doctor the birthday candles you purchased to go on your sister's birthday cake the airplane flight you took to attend a funeral the driving lessons you took the life guarding class you took last summer

the birthday candles you purchased to go on your sister's birthday cake