Principles of Marketing - Part 3 of 4

66. True or false: Companies without an HR department do not participate in HR management activities. A. False; in companies without HR departments, other managers and supervisors participate in HR management activities. B. True; smaller companies have no need for HR management. C. True; only HR managers can complete these activities. D. False; in companies without HR departments, all employees participate in HR management activities.

A. False; in companies without HR departments, other managers and supervisors participate in HR management activities.

65. What is the advantage of using accounting standards? A. Presents financial information in a consistent format B. Allows businesspeople to summarize financial data differently C. Reduces the need for the full disclosure of financial data D. Identifies inconsistencies in business procedures

A. Presents financial information in a consistent format

67. Identify the marketing function illustrated in the following situation: Martha wants a winter coat and sees a style she likes in a magazine advertisement. A. Promotion B. Selling C. Pricing D. Purchasing

A. Promotion

64. What is the primary purpose of the accounting process in business? A. Tracking financial transactions B. Evaluating advertising activities C. Determining warehousing needs D. Buying production equipment

A. Tracking financial transactions

60. Which of the following could Lynn do to lower the risk of identity theft: A. Use secure web browsers when purchasing online B. Share bank account information with others C. Keep written records of all major cash purchases D. Write account passwords in a personal planner

A. Use secure web browsers when purchasing online

59. Sheila pays the minimum payment shown on her credit card bill each month. For the remaining amount on the bill she will be charged a(n) A. annual percentage rate. B. annual fee. C. late fee. D. overdraft fee.

A. annual percentage rate.

53. One of the reasons that businesses and consumers use credit is because it provides A. convenience. B. reassurance. C. interest. D. collateral.

A. convenience.

75. Elinor is using a word-processing program to prepare a business letter to send to the company's suppliers. She has selected a ready-to-use letter template. If she wants to change the size of the text, she should access the __________ button in the format bar. A. font B. paragraph C. replace D. view

A. font

54. When an item is purchased, money is exchanged for the right to A. own the item. B. use credit. C. file a claim. D. pay for the item.

A. own the item.

74. Business people often use the calendar applications on their cellular telephones to A. track their appointments. B. obtain driving directions. C. send text messages to clients. D. check their email.

A. track their appointments.

55. You are more likely to achieve your goals if they are A. written down. B. based on needs only. C. long term. D. short term.

A. written down.

56. Which of the following is categorized as a fixed expense in a personal budget: A. Groceries B. Car payment C. Home repairs D. Clothing

B. Car payment

What is the importance of the computer hard drive in a computer system? A. It facilitates the computer's audio transmissions. B. It permanently stores the computer program files and data. C. It allows the user to view the computer data. D. It transmits power to other computer devices.

B. It permanently stores the computer program files and data.

63. Useful financial information is understandable to A. accountants and managers. B. anyone who needs to use it. C. anyone with a background in finance. D. everyone.

B. anyone who needs to use it.

51. To delay payment when buying business supplies from a website, a purchaser is most likely to pay for the goods with a(n) __________ card. A. debit B. credit C. ATM D. store-value

B. credit

57. On a pay stub, the total amount of money that a worker has earned for the pay period before deductions is listed as A. net pay. B. gross pay. C. tax-exempt income. D. overtime income earned.

B. gross pay.

62. Which of the following is an example of a lending investment: A. Antiques B. Homes C. Bonds D. Stocks

C. Bonds

70. Which of the following is a true statement about a management information system (MIS): A. It does not assist with a business's information management program. B. It is the same thing as an information management program. C. It may be one part of a business's overall information management program. D. It includes people, processes, and practices.

C. It may be one part of a business's overall information management program.

61. Fiona made a $500 donation to a local homeless shelter last year. When she prepares her personal income tax form, she can claim the donation as part of her A. living expenses. B. public property. C. tax deductions. D. discretionary income.

C. tax deductions.

68. Eric is viewing the results for an online search about the current economic situation in North America. Which of the following is going to provide Eric with the most reliable information: A. A two-day-old video clip of a CNN interview with a 16-year-old entrepreneur from Sheboygan, Wisconsin B. A six-page report written in 2009 by a Canadore College student for an economics class C. An excerpt from a second-edition high-school economics textbook that was published in the fall of 2005 D. An article written by a Harvard economics professor that was published in a business magazine last month

D. An article written by a Harvard economics professor that was published in a business magazine last month

58. When should you record bank transactions in your check register? A. When checks bounce B. When bank statements are received C. As bank statements are reconciled D. As soon as each check is written

D. As soon as each check is written

73. Which of the following do many businesses include on their websites in order to obtain feedback from customers: A. Computer programming code B. Portable document format C. Electronic file attachment D. Email inquiry field

D. Email inquiry field

Which of the following is a basic computer operating system that a business might use: A. Adobe B. Excel C. Oracle D. Windows

D. Windows

52. Pedro received a check in the amount of $432.87 from the Tabor Corporation, a company in which he is a stockholder. This source of income is referred to as A. inheritance. B. wages. C. interest. D. dividends.

D. dividends.

69. Due to obsolescence, the format in which a business stores its information must often be A. summarized. B. archived. C. processed. D. updated.

D. updated.