DECA Practice Exam

A business's balance sheet lists $2,500 in cash, $6,125 in accounts receivable, $3,775 in inventory, $10,350 in machinery and equipment, and $4,280 in accounts payable. Calculate the business's total assets.

$22,750

Which of the following is a true statement about innovative management:

It is more participative than traditional management.

Which of the following is an example of ethical behavior in human resources management:

Judging an employee on the basis of work performance

What is an important social and cultural factor that has an impact on global trade?

Language

A local hotel keeps a large supply of cleaning products, office supplies, and repair tools. These items are known as __________ inventory.

MRO

Which of the following is the process that involves bringing together the resources that are needed in the production of goods or services:

Management

Which of the following are services that the travel industry provides:

Train, car rental, and airline

What type of insurance do you need to purchase if you want to ensure that your beneficiaries receive an inheritance?

Universal life insurance

Which of the following is a benefit that comes from tracking analytics:

Measuring the success of marketing campaigns

Which of the following is an example of formal communication in the workplace:

Melinda meets with her manager to discuss a possible promotion.

Why should an independent business consultant avoid using email to share a negative evaluation of an IT company with a client?

Using email can create reputational risk for him/her if it is shared with others.

Businesses rely on projects because the business environment is

dynamic.

In the hospitality industry, price is the amount of money that a guest pays

for the use of a hotel's services.

One of the reasons that direct mail is frequently used as a promotional method by hotels/motels is that

hotels/motels usually keep guest history records.

One way in which many lodging facilities automate their product offerings is by

implementing self-service check-in options.

A gas station sells close to the same amount of gas every month, even if the price of gasoline goes up or down. This is because demand for gasoline is

inelastic.

The manufacturer of a defective clock refused to honor the clock's guarantee and give the customer a refund. The customer's right to demand satisfaction from the clock manufacturer is known as

legal recourse

Certificates of deposit and municipal bonds are types of

lending investments

A hotel can prevent unauthorized visitors from accessing the property by

locking particular doors after certain hours.

Effective collaboration between supply chain partners will most likely result in

lower warehousing costs

Dwayne is working on an income statement for his business. When he finishes it, he's left with his business's "bottom line," which represents the business's

net income.

As a result of increasing competition, many segments of the hospitality industry are emphasizing promotional efforts to focus on

price

Luke is a purchasing department employee who must complete his inventory report by 4:00 p.m. on Tuesday. He must also collect bids and place orders for staple items by Wednesday at noon. Because Luke knows that it will take a while to obtain the bids, he decides to start contacting vendors before he begins working on his inventory report. Luke is __________ his workload.

prioritizing

You look up to your older brother and his group of friends. Sometimes, what they buy influences what you buy. This is an example of a

reference group

The goal of many governmental agencies is to protect the

rights of business

Manager-trainees at a local quick-serve restaurant spend two weeks working at each work station--the grill, the cash register, and the drive-thru. This is an example of job

rotation.

Assuming that all people of a certain nationality will work long hours for low pay is an example of

stereotyping.

When writing an executive summary, be sure that you

target people who don't have time to read the full report.

Iris buys an expensive new car using installment credit. Although the __________ for the car is made out in her name, the company that sold the car has a __________ on it until Iris makes all the installment payments.

title; lien

When Marlon buys a new oven for his bakery, he receives a three-year warranty from the oven company. If the oven breaks or has any problems within three years, the company promises to repair or replace it free of charge. This is an example of ___________ business risk.

transferring

Emergency procedures that involve escape and evacuation because of fire or natural disasters usually include plans for identifying

travelers with disabilities.

Individuals have the right to provide additional information about their income status and payment history when

validating their credit history

Creating a change-management plan includes determining

who is authorized to amend the project plan.

If a good or service is scarce, consumers will usually be

willing to pay money to get it

Which of the following is an example of a during-the-sale touchpoint:

The physical aspects of the business

Chandra wants to develop a personal budget. What is the first step she should take?

Establishing her goals

Which of the following is a characteristic of effective oral presentations:

Attracts attention

Being a good listener is an example of what type of behavior that builds positive working relationships?

Being cooperative

Matthew received a loan for $20,000 from a financial institution to help him pay for his college education. The loan helped him cover the cost of his tuition while he was in school, and when he graduates, he will repay the financial institution. This is an example of which form of financial exchange?

Credit

A café wants to determine how well its loyalty program is working. Which of the following data will help it determine the mean use-rate of customers' loyalty cards:

Data that show the number of times each customer has used the card over several months

In which stage of a product's life cycle would the least money be invested in product promotion?

Decline

Ian's employer electronically places Ian's paycheck directly into his bank checking account every pay period. In what column on Ian's bank statement will he find these transactions?

Deposits and credits

What is the focus of quality assurance?

Developing processes to prevent product defects

At what stage of the entrepreneurial process does an entrepreneur determine the amount of capital needed to launch the business?

Development

Into what two categories can wants be divided?

Economic and noneconomic

What is the first step you should take when resolving an ethical dilemma?

Identify the dilemma.

What is usually the tone of a simple written report?

Informal

Corey is writing an online banner advertisement to sell her new line of handmade toys. What type of writing is Corey doing?

Persuasive

If a hotel is trying to predict future revenue generated for hotel bookings, which of the following sources of secondary data would be most useful:

Previous fulfilled hotel reservations

Which of the following is an example of a business using technology to improve the efficiency of its salespeople:

Providing laptops, tablets, and smartphones

How can you be sure that your bank statement is error-free?

Reconcile the bank statement with your own records

What are you doing when you compare your bank statement with your checkbook register?

Reconciling your checking account

For what aspect of a job-search strategy would you be most likely to use the Internet?

Researching prospective employers

A local chamber of commerce plans a street festival to appeal to community members and business owners. This is an example of which of the following membership benefits of a business alliance organization:

Sales promotion events

What is the primary function of the Random Access Memory (RAM) component of a computer?

Serves as a temporary holding area for files and programs

How can a business sell more goods to increase profit quickly, but do so without increasing expenses?

Set lower prices

What is the overall focus of managerial planning?

Strategy development

Which of the following is a major financial benefit that a company can gain by collaborating with its supply chain members:

Volume discounts on supplies

Which of the following situations most likely requires confidentiality:

You overhear a coworker discussing her salary

A business comparing the monthly bank statement with the entries in its checkbook is an example of a(n)

cash-control procedure.

Janel shuts off her phone and email while she is creating a presentation for her upcoming meeting. Janel is

compartmentalizing.

Larry's Pro Shop sold $583,000 in merchandise during the year. He paid out $259,000 for equipment, salaries, and utilities. His company had $100,000 left over after taxes. The company's __________ was $224,000.

cost of merchandise

Businesses must learn to balance their ethical obligations with their

desire for profit.

Descriptive analysis in marketing-information management refers to data organizing activities that most commonly include

determining averages, frequency, and percentages.