Communications/Small Business Management Capstone Exam

Which of the following are disadvantages of a partnership? 1. Divided authority among patterns 2. Death or incapacity of one of the partners may end the partnership 3. Double taxation 4. Separation of ownership and control 1 and 2 OR 1 and 4

1 and 2

Which of the following is an intangible asset? 1. Name of the business 2. Goodwill 3. Inventory 4. Building 1 and 2 OR 2 and 3

1 and 2

A written description of a new idea that projects marketing, operational, and financial aspects of a proposed business is known as 1. New Venture Plan 2. Entrepreneurial Plan 3. Business Plan 4. Market Survey 1 and 2 OR 1 and 3

1 and 3

Capital that is invested in the business by the owner(s) is known as 1. Equity Capital 2. Debt Equity 3. Personal Capital 4. Trade Capital 1 and 3 OR 3 and 4

1 and 3

Which of the following are advantages of a corporation? 1. Large Financial Capability 2. Low Cost of Organization 3. Limited Liability of Each owner (stockholder) 4. Ease of Starting 1 and 3 OR 2 and 3

1 and 3

Mastering the skill of communication will allow you to 1. Increase Effectiveness 2. Decrease Effectiveness 3. Increase Miscommunication 4. Decrease Miscommunication A. 1 and 3 B. 2 and 4 C. 1 and 4 D. 2 and 3

1 and 4

Which of the following are disadvantage of a corporation? 1. Legal restrictions on activities 2. Continuity in existence 3. Limited size 4. Lack of personal interest 1 and 4 OR 3 and 4

1 and 4

Which of the following are functions of management? 1. Controlling 2. Innovation 3. Competition 4. Actuating 1 and 4 OR 2 and 3

1 and 4

A management function which compares organization and individual performance with predetermined standards or expected results is known as 1. Planning 2. Evaluating 3. Controlling 4. Actuating 2 and 3 OR 3 and 4

2 and 3

The difference between current assets and current liabilities is 1. Equity Capital 2. Working Capital 3. Circulating Capital 4. Personal Capital 1 and 4 OR 2 and 3

2 and 3

Which of the following are NOT popular types of resumes? 1. Chronological 2. Informative 3. Recommendation 4. Functional A. 1 and 4 B. 3 and 4 C. 1 and 2 D. 2 and 3

2 and 3

Which of the following are advantages of a partnership? 1. Freedom to manage 2. Efficiency of Labor 3. Combined Management, Talent, and Capital 4. Continuity in Existence 1 and 4 OR 2 and 3

2 and 3

Which of the following are advantages of a sole proprietorship? 1. Efficiency of labor 2. Ease of Starting 3. Profit Incentive 4. Continuity in existence 1 and 2 OR 2 and 3

2 and 3

Which of the following are advantages of extending credit? 1. Capital is tied up in merchandise bought by charge customers 2. Sales are increased 3. Goodwill is built-up and easily maintained 3. Some losses from bad debts and customers with fraudulent intentions are bound to occur 1 and 2 OR 2 and 3

2 and 3

Which of the following is an external problem and risk of business ownership? 1. Mismanagement 2. Tax burdens 3. Human resource Planning 4. Financial Shortages 2 and 3 OR 3 and 4

2 and 3

A line of credit that may be used over and over again up to a certain borrowing limit is called 1. Closed-end Credit 2. Revolving Account 3. Trade Credit 4. Open-end Credit 1 and 3 OR 2 and 4

2 and 4

A common Business credit/sales term is UCC or 2/10, N30

2/10, N30

Which of the following are disadvantages of a sole proprietorship? 1. Double Taxation of earnings 2. Divided Authority among Partners 3. Unlimited Liability 4. Limited Management Ability 2 and 3 OR 3 and 4

3 and 4

Which of the following are examples of debt capital? 1. Equity Capital 2. Personal Capital 3. Commercial Loans 4. Venture Capitalists 2 and 4 OR 3 and 4

3 and 4

The Pope reads his speech word-for-word from a prepared text. This is an example of A. A memorized speech B. An impromptu speech C. A formal speech D. A extemporaneous speech

A formal speech

A BFOQ is A shipper's designations OR a qualification that is absolutely necessary

A qualification that is absolutely necessary

Legislation that guarantees disabled people equal access to employment, as well as access to public places, is known as OSHA or ADA

ADA

Which of the following is a requirement for a building layout? Accessibility OR Hours of Operation

Accessibility

Which of the following is NOT a characteristic of a small business? Largely local in its area of operation OR actively managed by stockholders

Actively managed by stockholders

The art of making the public aware of one's products and/or services that are for sale can be referred to as Advertising or Sales Promotion

Advertising

One who organizes, manages, and assumes the risk of a business firm or venture is known as An entrepreneur or a chief operating officer

An entrepreneur

Open Punctuation is used with A. Block style B. Modified Block Style Letters C. AMS Style Letters D. Any letter style

Any Letter Style

Open punctuation is used with A. Any letter style B. Block letter style C. Modified Block Style letters D. AMS Style letters

Any letter style

Which of the following is NOT included on the employment application? Applicant's Sex or Applicant's Social Security Number

Applicant's Sex

The most widely used format of business letters is A. Semi-block B. Simplified Style C. Full Block D. Block

Block

A point in business operations whereby total sales revenue equals total cost Break-Even Point or Fixed Expense

Break-Even Point

Which of the following words has the MOST unfavorable tone? A. Bargain B. Cheap C. Lower-priced D. Inexpensive

Cheap

The current asset items consisting of cash, inventories, and accounts receivables is known as Circulating Capital or Equity Capital

Circulating Capital

A source of debt capital would include Personal Capital or Commercial Loans

Commercial Loans

The process of human beings responding to symbolic behavior or to other persons or a human survival skill needed to maintain contact with the world defines A. Empathic Listening B. Articulation C. Communication D. Denotation

Communication

An agreement between group members about a decision defines which of the following terms? A. Stimuli B. Connotation C. Consensus D. Role Emergence

Consensus

A type of credit granted by retailers that is used by individuals or families for the satisfaction of their own wants is known as Consumer Credit OR Trade Credit

Consumer Credit

An external problem that can lead to small business failure is Financial Shortages or Consumerism

Consumerism

Which of the following letter parts would be shown last? A. Copy notation B. Enclosure Notation C. Typed name of writer D. Reference Initials

Copy Notation

A legal form of organization whereby a legal entity is authorized by a state to operate a business under the entity's charter or articles of incorporation is known as a Corporation or Partnership

Corporation

In organizing a business, a legal form of organization that is authorized by a state to operate a business under a state charter is referred to as a Partnership or Corporation

Corporation

A factor to be considered with the evaluation of a credit risk would be the Credit Application or Size of Product

Credit Application

If a prospective business owner attempts to statistically study such factors as human population size, density, distribution, and wealth, we would refer to this as Trade Credit or Demographics

Demographics

The statistical study of human population with respect to their size, density, distribution, composition, and income is known as Environmental Study or Demographics

Demographics

A document that lists the major responsibilities and tasks of the job is known as a job Description or Specification

Description

An individual that assumes the risks associated with a new venture start-up can be referred to as an Marketing Representative or Entrepreneur

Entrepreneur

Any capital that is invested in a business by the owner(s) can be called Debt Equity or Equity Capital

Equity Capital

Capital that is invested in the business by the owner(s) is known as Equity Capital or Working Capital

Equity Capital

Long term capital invested in the business is Equity Capital or Fixed Capital

Fixed Capital

Long-term capital that is invested in a business is referred to as Short-term capital or fixed capital

Fixed Capital

Rent is an example of a Fixed Expense or Variable Expense

Fixed Expense

Which of the following is NOT a consumer buying motive? Security or Indemnity

Indemnity

Which of the following would be a type of listening in which the receiver listens to understand another person's idea? A. Attending listening B. Informational Listening C. Empathetic Listening D. Evaluative Listening

Informational Listening

The type of consumer credit where the balance is paid in small monthly (fractional) payments over a period of time is Revolving Credit OR Installment Credit

Installment Credit

In a business, the name, goodwill, copyrights, and patents are referred to as Intangible Assets or Tangible Assets

Intangible Assets

Bob debated with himself as to what the correct answer to the question was, but finally chose the correct one. This is an example of A. Organizational Communication B. Interpersonal Communication C. Intrapersonal Communication D. Mass Communication

Intrapersonal Communication

The type of communication which refers to those aspects of communication behavior that occur within the individual is A. Intrapersonal communication B. Ambiguous Listening C. Stage Hogging D. Interpersonal Communication

Intrapersonal Communication

Factors associated with evaluating a credit risk would involve all of the following except Setting Up a Credit Limit OR Inventory Control Consideration

Inventory Control Consideration

In a business, the number of times the average inventory is sold or used up can be referred to as Economic Order Quantity (EOQ) or Inventory Turnover

Inventory Turnover

The number of times the average inventory has been sold or used up during a period is known as Sales Frequency Chart or Inventory Turnover

Inventory Turnover

Compared to letters, the memorandum A. is basically an internal communication devise B. is basically an external communication devise C. is more formal D. contains unimportant information

Is basically an internal communication devise

Which of the following is an internal problem that can lead to business failure? Capital Shortages or Lack of Expertise

Lack of Expertise

Which of the following is NOT an advantage of a corporation? Large Financial responsibility OR Legal restrictions on activities

Legal restrictions on activities

Which of the following communication activities occurs LEAST at an employment interview? A. Gesturing B. Reading C. Listening D. Speaking

Listening

A business that makes finished goods from raw materials by hand or machinery is referred to as a Manufacturing Business or Merchandising Business

Manufacturing Business

The difference between merchandise cost and the selling price is known as the Mark-up OR mark-On

Mark Up

In business, a reduction of selling price below the original selling price is referred to as Overhead or Markdown

Markdown

A group of potential customers that are recognized as possessing purchasing power and unsatisfied needs defines Demographics or Market

Market

A business that purchases finished goods for resale is referred to as a Service Business or Merchandising Business

Merchandising Business

A worker is drilling a hole in the street just outside of the classroom making it nearly impossible for the students to hear the instructor. This is an example of A. Feedback B. Faulty Assumption C. Noise D. Defensive Listening

Noise

A governmental agency with the responsibility for regulatory and enforcement of safety and health matters for most United States Employees, is known as EPA or OSHA

OSHA

A distinct section of a letter, memorandum, or report that deals with one main idea is a A. Paragraph B. Heading C. Title D. Fragment

Paragraph

A form of legal organization in which a business association made up of two or more persons is formed for the purpose of carrying on as co-owners is known as Joint Venture or Partnership

Partnership

The combination of two or more individual's talents and capital serves as an advantage of the legal form of ownership known as a Joint Venture or Partnership

Partnership

Which of the following is an example of a misinterpretation of a non-verbal symbol? A. Personal Space B. Emotive Terms C. Euphemisms D. Equivocal Terms

Personal Space

Which of the following is NOT a type of consumer credit? Personal Checks or Installment Accounts

Personal checks

Using material written by others without documenting the source is A. Copying B. Plagiarism C. Libel D. Footnoting

Plagiarism

The form of legal organization that is owned and operated by one person is the Partnership or Proprietorship

Proprietorship

The speed at which a speaker utters words is known as the A. Rate B. Volume C. Articulation D. Pitch

Rate

Which of the following items is considered optional on a resume? A. Name B. Work Experience C. References D. Phone Number

References

Which of the following is an example of a misinterpretation of a verbal symbol? A. Relative Terms B. Objects C. Voice D. Touching

Relative Terms

Which of the following is an example of a variable expense? Repairs or Depreciation

Repairs

Any effort undertaken to retain and preserve the assets and earning power of a business is called Consumer Credit or Risk Management

Risk Management

A plan which provides inducements to potential purchasers of products and/or services is called Sales promotion or Marketing

Sales Promotion

The complimentary close should agree in formality with the A. Salutation B. Inside Address C. Attention Line D. Return Address

Salutation

The best letter style is one that A. Save the reader time B. Adheres to company policy C. Saves typing time D. Is an acceptable Style

Saves the reader time

A part of language which deals with the meaning of words is A. Structure B. Dialogue C. Syntax D. Semantics

Semantics

Which of the follow originates the communication process? A. Barrier B. Channel C. Receiver D. Sender

Sender

A particular business that provides a service as opposed to a product is referred to as a Retail Store or Service Business

Service Business

The simplest and most common legal form of business ownership is Sole Proprietorship or Partnership

Sole Proprietorship

An interview whereby the applicant is asked a pre-determined set of questions is known as Unstructured Interview or Structured Interview

Structured Interview

Which of the following is NOT a way to reduce risks? Shift the risks OR Take on more risks

Take on more risks

Which of the following would NOT be an insurance risk to consider? Liability to the Public OR Terms of the sale

Terms of the Sale

When selecting employees, the applicant's appearance, poise, speech, and other characteristics may best be determined by Employment Records OR The employment interview

The Employment Interview

Which of the following is the best reason for writing a memo instead of a letter? A. To convey routine business information to co-workers B. To save money by using a routing envelope C. To persuade co-workers D. To save reader's time

To convey routine business information to co-workers

The main objective in a market survey is To determine where the potential customers are OR to decide how much money to spend in advertising

To determine where the potential customers are

Any credit that is extended from one business to another in order to help finance the distribution of goods from the producer is called Fixed Capital or Trade Credit

Trade Credit

A cost which is uniform per unit, but fluctuates in total, in direct proportion to change in the related total activity or volume is known as Fixed Expense or Variable Expense

Variable Expense

John's speech instructor told John that he would have to speak a little louder. John needs to work on which of the following areas of public speaking? A. Rate B. Pitch C. Enunciation D. Volume

Volume

The difference between current assets and current liabilities is Working Capital or Trade Capital

Working Capital