deca study

63. What do managers need to do to develop and maintain the level of quality that customers expect?

B. Monitor all aspects of the business

84. Which of the following is one of the main functions of promotion in the advertising industry:

B. Persuading

11. The government's mandating the use of unleaded gas in new cars is an example of

B. protecting the environment.

53. An important criterion to consider when identifying market segments is the __________ of the market.

B. size

37. One reason why banks might be reluctant to lend money to a start-up business is because the business

C. has no record of repaying loans

52. In order for a market to exist, consumers must have an unfulfilled desire for a product and

C. have financial resources.

55. As part of their marketing plans, what do businesses develop first that are intended to lead to increased sales and revenue?

A. Objectives

26. Evan does not want the legal obligation of repaying a loan and is willing to share profits with others. Which of the following options is Evan most likely to select to fund a new venture:

A. Private equity

6 Which of the following is a marketing function that can be performed by channel intermediaries:

A. Promoting products

38. When a business has been running successfully for several years, what would be a probable next financial step?

A. Purchasing a second location

91. Which of the following is a true statement regarding the relationship between risk and business objectives:

A. Risks help businesses determine objectives.

40. What sales forecasting technique creates accurate forecasts for individual products?

A. Sales force composite

29. All of a firm's activities and how they function in relation to one another are known as

A. business operations.

46. One of the advantages to businesses of training staff is that it tends to increase

A. employee satisfaction.

36. Managerial accounting differs from financial accounting because managerial accounting

A. helps people within a business rather than outside of the organization.

7 A manufacturer of dishwashing soap has just invented a new type of soap that cleans better. The manufacturer should choose to distribute the soap through __________ distribution.

A. intensive

60. Because operations managers control so much of a business's money, they must focus on

A. keeping costs low.

99. For successful innovation to occur, employees must be willing to __________ while developing ideas.

A. learn

50. The marketing function that helps marketers make decisions about what and to whom to sell is

A. marketing-information management.

64. Expenses such as payroll and rent that are necessary to the running of a business are called __________ expenses.

A. operating

81. Having a narrow product mix allows a company to

A. specialize in specific product lines

79. Companies X, Y, and Z determine the selling price of widgets because these companies are the only ones who market widgets. This is an example of

B. an oligopolistic market.

71. One of the main external factors that may cause a firm to change its business processes is

B. competition.

83. When a business offers services such as an information desk, child-friendly restrooms, and a lost-andfound department, it is providing customers with __________ services.

B. convenience

31. Looking at problems from various points of view helps a small-business owner develop

B. creative solutions.

75. Members of a board of directors are

B. elected by stockholders.

58. Businesses often conduct environmental scans to determine if they should

B. expand into other markets.

34. The balance sheet has a close relationship with the company's

B. income statement.

28. Al is thinking about moving his company's headquarters to another city, which would be expensive but closer to the raw materials needed for manufacturing. The benefit in moving is

B. proximity.

88. The Skintastic Cosmetic Company implemented a challenging sales promotion in which its independent sales consultants could earn bonuses, prizes, and vacations. This is an example of a company using __________ as a sales incentive

B. push money

70. When bottlenecks in business processes develop that cause a company to miss deadlines and waste resources, an effective manager would most likely choose to

B. redesign the business processes.

95. A business should consider the impact that changes in the environment will have on the business's marketing mix because

B. the business can change its marketing mix.

87. Businesses often use direct advertising strategies because

B. they can select and reach qualified prospects.

9 There are several auto repair shops in town, but Patricia's stands out. Her auto repair shop does great work, but what really sets her shop apart is the customer service. Every customer is greeted by a friendly employee, and s/he is given snacks and drinks while s/he waits for the repairs to be completed. The great customer service that people can expect from Patricia's business is considered her

C. brand promise.

100. If a company wants to ensure that changes are implemented in the best possible way and that those changes will lead to long-term benefits, it should use the __________ approach.

C. change management

41. An example of an operating expense that is included in a business's income statement is

C. commissions.

13. Businesspeople who respect the unique customs and habits of their foreign customers are exhibiting

C. cultural sensitivity

86. Mark doesn't have much money to promote his new restaurant, so he focuses on inviting a few customers in for a special dinner in hopes that they will post favorable reviews online and tell their family and friends about their great meals. Mark is using __________ marketing.

C. grassroots

77. Performances standards should be

C. measurable.

1 A business that fails to protect its employees from unnecessary risk or health hazards on the job may be sued for

C. negligence.

14. "Yes, you'll save money instantly" is an example of a statement with

C. persuasive words.

78. Product pricing is affected by transportation costs, which are factors related to the marketing element of

C. place.

82. Ways that a business's website can provide customer-service support are by offering

C. product/service updates, FAQs page, and an online help desk.

89. The use of communications channels in public relations activities is an important part of

C. providing information.

66. Most company budgets are based on

C. sales

32. Ellen wants to step back from the day-to-day activities of running her company. She decides to take the company to another level by selling public stock. One way Ellen can stay involved in the company is by

C. serving on the board of directors.

51. A neighborhood grocery store has added a bakery. What element of marketing should the store use to attract customers from surrounding areas?

D. Promotion

85. Which of the following media could increase a business's sales by reaching people who are driving home from work:

D. Radio

18. Julio is starting a new business, and he has formed relationships with several successful local business owners. Which of the following is the best way to leverage these relationships to help his own business succeed:

D. Sharing those businesses' content on social media

24. Landon wants to start a home-based T-shirt printing business. Which of the following are the most critical equipment and supplies that Landon will need to get his business up and running?

D. T-shirts, printing machine, and artwork

5 Which of the following is a condition that must exist for channels to be effective:

D. They must be properly managed.

48. XYZ Company is interested in developing, producing, and selling a new product. Before it does so, the company spends six months conducting marketing research. What are the primary advantages of this course of action?

D. To determine customer preferences and minimize losses

42. Which of the following financial analysis methods is used to show the relationship of each component to the total within a single financial statement:

D. Vertical analysis

92. Tyrese and his team are creating a list of their company's critical enterprise-wide risks. They are compiling

D. a risk inventory.

80. When evaluating customers' experiences, a company should keep in mind that customers are most often influenced by their interactions with the company's

D. employees.

19. Hazel started her own childcare network where she connects families to available babysitters at her school. Hazel could be described as a(n)

D. entrepreneur.

20. An entrepreneurial business owner must

D. have an adventurous spirit.

44. To screen job applications and employment résumés, a business might use computer software that conducts text searches to scan for

D. key words.

25. A small-business owner might register for trademark protection for the company's

D. logo.

39. Marginal analysis is a cost/benefit decision process that seeks to determine

D. profit-maximizing quantity of output.

61. Obtaining goods that will satisfy the needs and wants of a business's customers is a function of

D. purchasing.

3 The owner receives all of the profits of the business and can act quickly in making business decisions when the form of business ownership is a

D. sole proprietorship.

30. Because the MBC Company has one location that services the eastern part of the country and another location that services the western part of the country, the company's work flow is organized by

D. territory.

62. Why is it important for businesses to have efficient production?

A. To be competitive

69. Business process thinking is meant to help companies

A. achieve goals and serve customers.

16. Why is it important for team members to feel a sense of "ownership" and engagement in the vision?

A. It's the only way they will become committed to it.

12. What type of business usually experiences economies of scale due to expanded operations?

A. Large manufacturing plant

96. Which component of the business plan requires considerable time and external research?

A. Market analysis

67. Which of the following situations would supply chain managers encounter during the final stage of supply chain management:

A. A customer returns a defective product

97. What company has the highest sales-to-receivables ratio based on the following information: Company A has sales of $250,000 and accounts receivable of $20,000; Company B has sales of $275,000 and accounts receivable of $25,000; Company C has sales of $300,000 and accounts receivable of $30,000; and Company D has sales of $290,000 and accounts receivable of $32,000.

A. Company A

68. What is Claire doing when she reviews a report that compares the purchase transactions of the company's four largest customers?

A. Conducting a sales analysis

17. Which of the following statements is true regarding stakeholder expectations:

A. Each group of stakeholders has different needs and expectations.

59. What is a benefit to a tour operator who makes business decisions by analyzing statistical information?

A. Improved performance

74. Which of the following is a benefit of corporate governance:

A. It encourages transparency.

57. How long are businesses required to keep their records?

B. Varies greatly

33. Which of the following categories of information are found on a balance sheet:

B. Assets, liabilities, owner's equity

93. Which of the following situations is most likely to result in long-term, increased sales for a business:

B. Constantly providing new choices for consumers

56. Which of the following is a specification that a business might establish for selecting spreadsheet software programs:

B. Graphically display financial information

54. What is a potential weakness a manager might identify in a SWOT analysis?

B. Lack of management depth

22. Which of the following is a global trend that might encourage an entrepreneur to consider international business opportunities:

B. Lower tariffs

23. Mara is facilitating a group brainstorming session to generate new product ideas for the company. Which of the following attitudes is important for Mara to demonstrate?

B. Neutral

27. What is a primary factor that small-business owners should consider when deciding to hire additional staff members?

B. Payroll expenses

43. What staffing activity involves seeking out and attracting qualified potential job candidates?

B. Recruiting

8 What type of information does a well-written proposal include?

B. Specific benefits

21. What is one reason that it is easier than ever for small businesses to engage in international trade?

B. Technological advances

98. Why is it important to track the performance of a business plan?

B. To find out if products are selling

94. Which of the following is an example of a company objective that might be developed by top management:

B. To maintain or increase market share

49. Which of the following is essential to all marketing research:

C. Accuracy

47. Which of the following is an example of an employee complaint that is related to a coworker:

C. Ann tells her boss that Brad talks loudly on the phone and distracts her ability to focus on work.

2 What requirement of a legally enforceable contract requires that both of the parties who are entering into the contract are sane, sober, and of legal age?

C. Capacity

10. Financial loss from investing time and money to comply with accounting standards is an example of which strategic risk:

C. Regulatory and political issues

15. Which of the following is a characteristic of a self-confident leader:

C. S/He is decisive, even in uncertain circumstances.

4 Which of the following is the type of tax that businesses are required to collect from customers when they purchase certain goods or services:

C. Sales

72. Sandra is a manager at a distribution plant. Lately, her customers have been complaining about timely deliveries. Which area of the business does Sandra need to focus on to ensure on-time delivery?

C. Supply chain management

90. Francine likes the auto shop where she takes her car for an oil change because it has a comfortable waiting room with good magazines. This illustrates which important characteristic of quality service providers?

C. Tangibles

73. Which step of the decision-making model involves identifying what you want to do?

D. Pinpointing your objective

35. Which of the following phrases effectively describes a business's income statement:

D. Financial picture

65. A business negotiates a two-year lease on 2,250 square feet of space for $2.60 per square foot with an option on a third year at a 5% increase in rent. What will the monthly rent be if the business extends the lease for a third year?

D. $6,142.50

76. Which of the following most likely led to a greater emphasis on governance structures in recent years:

D. Accounting fraud

45. Which of the following is a benefit of hiring the right employee for a job:

D. Decreased cost of selection