Texas Business & finance 6-12 practice test questions

Before training a new employee, what must be done to ensure positive results? A. Complete a job analysis and task list B. Hire the employee C. Budget for the new position D. Get approval for the hiring decision

A is correct because without analysis of the position, it is difficult to find an employee that meets all the requirements.

Which of the following issues might prevent an applicant from getting an interview for an entry level job? A. Inappropriate social media B. Little or no work experience C. Substandard grades D. Poor interviewing skills

A is the correct answer as inappropriate social media may be easily discoverable and may highlight questionable character.

Chapter advisors and sponsors are important to the success of a program and their primary role is to: A. Facilitate successful organizational operation B. Select the leadership team C. Provide competitive opportunities and guidance D. Facilitate fundraising to support organizational operation

A is the correct answer as the chapter advisor and sponsor are there to facilitate, not force or control, the operation and leadership of the organization.

Data mining is a form of business intelligence and data analysis used to: Correct answer: A. Draw useful conclusions or predictions B. Offset the use of malicious bots C. Validating customer order fulfillment D. Improve advertising effectiveness

A is the correct answer because data mining utilizes huge amounts of customer data to better understand buying and consumption behavior.

Which professional credential will mean the most to a potential client that is uneducated in financial matters including investing? A. The fiduciary designation B. The certified financial analyst designation C. The certified financial planner certification D. The certified public accountant designation

A is the correct answer because the fiduciary designation protects the best interest of the investor.

Which management theory is based upon employees' need to work and responsibility? A. Maslow's hierarchy B. The management pyramid C. McGregor's Theory X and Y D. Scientific management

Answer C is correct because only one of the management theories deals with a duality of employee choice.

What newer business trend has made finding qualified employees an easier task? A. The rise of internships being available for college students B. Automation of much of the hiring process C. Downsizing of unproductive employees D. The popularity and ease of telecommuting

Answer D is the correct answer as the rise of dependable telecommuting and teleconferencing technologies has opened the door to out of area or international applicants.

What feature of a corporation removes all financial liability from its owners? A. The board of directors is responsible for all decisions B. Stockholders accept all the financial liability C. The corporation acts as a separate legal entity from its owners D. All profits are distributed to stockholders in the form of dividends

B is the correct answer as the sale of stock is a fundraising tool but does not guarantee positive financial returns.

Apple FaceTime, Google Meet and Zoom all represent what type of software? A. Productivity B. Videoconferencing C. Data analysis D. Web browser

B is the correct answer because this emerging communication technology is best described as videoconferencing.

In the creation of a technology inventory system, what information should be used to identify individual assets of all types? A. Manufacturer name and model number B. Location of asset C. IP address D. Serial number

D is the correct answer because all technological assets will have a serial number.

Which of the following statements would be true when starting an online retailing business? A. Identifying and reaching customers is easy B. Setting up an ecommerce website is a very involved, difficult process C. The cost of selling products online is more expensive than traditional retailing D. There are numerous providers of ecommerce platforms that make starting a business fairly simple

D is the correct answer because many hosting platforms or hosting services have ecommerce website templates ready to customize.

What is a required action for employers created by the Americans with Disabilities Act? A. Employers must hire a certain number of disabled employees based on the size of the company B. Employers actively pursue possible employees that have a documented disability C. Employers must allow disabled employees to work from home D. Employers must make reasonable accommodations for employees with disabilities

D is the correct answer because the law is plainly written and requires that employers make reasonable accommodations for qualified employees with disabilities.

Which of the following is a current trend in international business? A. Companies are concentrating their manufacturing in one foreign country B. Companies are buying more products from countries that violate human rights C. Companies are only using domestic parts for their product offerings D. Companies are looking to diversify manufacturing and find multiple supply chains

D is the correct answer because the recent supply chain issues are magnified by the use of single suppliers.

Which of the following best describes management practices that promote adaptability in a global business environment? a.Changing strategies to accommodate local conditions b.Developing a set of fixed responses to anticipated problems c.Establishing procedures to be used systematically in all regions d.Launching sales initiatives to conform to the corporate calendar

Option A is correct because changing strategies to accommodate local conditions indicates management's willingness to adapt to local environments.

Which THREE of the following personal attributes are most likely to have a positive effect on a person's career advancement and success? a.Confidence b.Energy c.Inquisitiveness d.Obedience e.Traditionalism

Option A is correct because confidence is rated as one of the top three traits sought by employers. Option B is correct because energy and confidence are two traits that reflect on an individual's professionalism. Option C is correct because an inquisitive employee is more likely to anticipate and adjust to future changes.

A lending company will review a borrower's accounting documentation to evaluate a. creditworthiness. b.current assets to past liabilities. c.the expenses in terms of employee risk management. d.the aggregate statistics relating to the likelihood that a competitor will enter the market.

Option A is correct because credit-worthiness is the key determinant of how likely it is that the loan will be repaid

When a company is trying to regulate its spending and track incoming funds, the accountant should prepare an income statement once a.every month. b.every two months. c.every six months. d.every year.

Option A is correct because income statements are usually produced once a month to ensure expense review and control.

An individual uploads items to sell on an international Web site and occasionally purchases items from the same source. This practice is best known as a.e-commerce. b.market economy. c.foreign exchange. d.electronic signature.

Option A is correct because international business refers to all business activities that involve cross-border transactions of services, goods and resources between two or more nations, including commercial transactions conducted electronically over the Internet, which is considered E-Commerce (Electronic Commerce)

Which of the following types of illustrations best represents continuous processes? a.Line graph b.Table or figure c.Schematic d.Flow chart

Option A is correct because line graphs represent continuous processes.

Which of the following inventory systems is designed to record the actual costs associated with the inventory using a physical count? a.The periodic inventory system b.The perpetual inventory system c.The temporary inventory system d.The just-in-time inventory system

Option B is correct because the perpetual inventory system is designed to record the actual costs affiliated with inventory using a physical count.

Kim, a young college student, has decided to start a business. She does not have much capital but believes the business can generate capital through an initial public offering (IPO). An IPO is categorized as a.debt. b.an asset. c.equity. d.income.

Option C is correct because IPO stock is considered equity for the buyer.

An effective form of communication is the use of graphs and charts to convey information. A pie chart is an effective way of a.identifying the parts of a subject and their spatial or functional relationship. b.offering a visual representation of large changes over a space. c.communicating varying values or percentages in relation to each other that is not related to time. d.comparing the qualities to two variables to clearly show the changes over time.

Option C is correct because a pie chart is a graphic representation of quantitative information by means of a circle divided into sectors, in which the relative sizes of the sectors correspond to the relative sizes or proportions of the quantities of the whole

Which of the following best identifies the use of debt financing to raise capital? a.Convertible securities b.Direct stock offerings c.Promissory notes d.Initial public offerings

Option C is correct because a promissory note would indicate a loan and debt financing to raise capital.

Which of the following situations is legal but not ethical? a.A business goes beyond the letter of the law to preserve the environment for future generations. b.A top company executive uses questionable accounting practices to manipulate the company's stock price for financial gain. c.A company imports and sells goods from a company that uses child labor in unsafe conditions in its manufacturing plants. d.A group of pharmacists agree to charge the same prices because of the rising costs of prescription medicines.

Option C is correct because it is legal to import goods from other countries, but clearly unethical to buy and sell goods produced by child labor in unsafe conditions.

Which of the following is an objective of the National Business Education Association? a.To manage the teacher evaluation process b.To promote students with terminal degrees c.To promote legislation on behalf of its members d.To promote professional development in all United States Department of Labor clusters

Option C is correct because legislative advocacy is one of the National Business Education Association's (NBEA) endeavors.

Which of the following is most important to consider when developing a technology plan for schools in a school district? a.The average school has more Internet connectivity than the average home. b.Most schools have the network capacity to meet all teaching needs. c.Teachers in general need more training to integrate technology in their lessons. d.The future of learning is less individualized because of digital technologies.

Option C is correct because most teachers are not receiving the training needed to meet the needs of digital learning.

Which of the following statements is generally true about the purchasing function today? a.A wide supplier base is desired because purchasing prices are lowered. b.The focus of purchasing today has changed from a relational to a transactional one. c.Purchasing is evolving into strategic supply management. d.Relationships with suppliers typically lead to supplier opportunism.

Option C is correct because the traditional purchasing department has evolved into a position of greater importance and esteem within a company, becoming known as "supply management."

Which of the following doctrines prevents a person from insuring a neighbor's house? a.Doctrine of contribution b.Doctrine of subrogation c.Doctrine of indemnification d.Doctrine of insurable interest

Option D is correct because doctrine of insurable interest means that a person will suffer financial or other kinds of loss when they lose or damage a particular property.

Which of the following approaches is best to use when creating a business presentation? a.Including the goal at the end of the presentation b.Closing the presentation with a question-and-answer period c.Using supporting material sparingly in the presentation d.Establishing the presenter's credibility at the beginning of the presentation

Option D is correct because establishing credentials and authority at the beginning of the presentation will make the audience be more accepting and open to what the presenter has to say.

A teacher is designing a unit that will engage students in an extended project and connect learning and work. It is most appropriate for the teacher to incorporate which of the following experiences into the unit? a.A job-training internship b.A job-shadowing opportunity c.A work-study job d.A field-based investigation

Option D is correct because field-based investigations transform classroom studies by engaging students in fieldwork and contact with adults who have expertise in the area of study.

Which of the following is an advantage of parallel data mining over distributed data mining? a.Parallel data mining relies on data partitioning and global blending. b.Communication occurs among multiple process units in parallel data mining. c.In parallel data mining, knowledge differs between data sets and the global unit. d.In parallel data mining, an algorithm is applied to the entire data set.

Option D is correct because one algorithm can be applied to a data set so that the information returned is uniform and more reliable.

A teacher is instructing students on the importance of firewalls. To best explain the security provided by firewalls, the teacher should explain that firewalls a.check all incoming data for viruses. b.provide complete confidentiality. c.replace host security procedures. d.restrict how data exits the system.

Option D is correct because restricting how data exits the system is a characteristic of firewalls and demonstrates that a firewall is a viable component of network security.

Which of the following notations is most appropriate for citing a specific page within a specific section of a book with one author? a.Anthony Sorbo, Handbook of Trust Law (1987). b.Brown's Law Dictionary 602 (10th ed. 2008). c.Children and the Law 24 (Connie L. Hercot ed., 1992). d.Eric James, Civil Procedure § 2.3, at 124 (8th ed. 2012).

Option D is correct because this citation includes references to a specific page within a specific section as well as the name of the author.

The marketing department of a small business wants to obtain information about how and why a product continues to be successful after many years. Which of the following research techniques will be most effective? a.Obtaining expert reviews b.Organizing focus groups c.Conducting one-on-one interviews d.Requesting user surveys

Option D is correct because user surveys are a relatively quick and inexpensive way of gathering and quantifying public opinion and monitoring change over time, which is most appropriate for answering the desired question.

Assuming supply remains the same (no increase or decrease), what is the impact of an increase in demand on the equilibrium price? a.The equilibrium price will increase b.The equilibrium price will decrease c.The equilibrium price will remain the same d.Shifts in demand do not impact the equilibrium price

a. The equilibrium price is the point where supply is equal to the amount of product demanded. It is the price consumers are willing to pay for producers to maintain current supply. When demand increases, the equilibrium price will increase. Conversely, if demand were to decrease, the equilibrium price would also fall.

Once gross income is calculated, how is net income derived? a.Add cost of goods sold b.Subtract current liabilities c.Multiply by current tax rate d.Subtract all expenses and deductions

d. Gross income equals gross revenue (the total of all monies received and due for goods delivered or services performed) reduced by the cost of goods sold. Net income is the profit (or loss) realized after all expenses and deductions are subtracted. These include administrative costs, operating expenses (e.g., rent and insurance), taxes, and interest.

Owners' equity is comprised of: a.The personal net worth of the owners plus the amount of their initial investment in the business b.The amount of the owners' initial investment in the business c.The owners' unclaimed profits from the business' operation d.Both B and C

d. Owners' equity is comprised of the amount of their initial investment in the business plus any unclaimed profits from the business' operation. (Unclaimed profits are also called retained earnings).

Your sister is looking to deposit a small amount of money into a government-insured investment that is low risk and flexible regarding withdrawals. Which of the following would you recommend to her? a.Bond for local government project b.Certificate of deposit at a commercial bank c.Shares of a stock traded on the NYSE d.Traditional savings account at local bank

d. Savings accounts are government insured and offer the flexibility your sister wants. The other choices present challenges to the investor in terms of lead times to withdraw money, minimum amount needed, or risk associated with the investment.

Which of the following is not a part of Maslow's hierarchy of needs? a.Self-actualization b.Esteem c.Safety d.Supply and demand

d. Supply and demand is not a part of Maslow's hierarchy of needs. This hierarchy is part of Maslow's theory that once people satisfy basic needs like food, water, and physical security, they begin to pursue needs higher up the hierarchy, like social acceptance, self-esteem, and self-actualization.

Which resume format lists job experience in order and is the most popular style? a.Combination resume b.Time and place resume c.Functional resume d.Chronological resume

d. The chronological resume format lists work experience in reverse chronological order, with the most recent first. Information is typically presented in this order: personal data, objective, experience, skills, education, and additional details. A functional resume focuses on skills and is popular with those who have gaps in work experience.

Which of the following is NOT a benefit of written communication? a.Provides a "paper trail" b.Gives the author time to think about what they want to say c.Allows the communicator to fully express their thoughts without interruption d.Prevents confusion due to a lack of "tone"

d. Written communication has many benefits, but one thing it does not do is prevent confusion due to a lack of tone or voice

Retail businesses rely on a variety of systems to manage inventory. Which of the following tools gives the firm the best information about current inventory? A. A networked inventory system linked to a POS system B. Periodic physical inventories done in warehouses and retail settings C. Daily sales figures by department or store D. Shipping invoices received upon delivery of goods to a location

A correct because an inventory management database system linked in real time to a Point of Sale system should deliver current inventory numbers as well as locations of the individual products.

Management Approach Characteristic 1. Classical Theory 2. Behavioral Theory 3. Management Science Approach 4. Contingency Approach Pair with description 1-D, 2-B, 3-A, 4-C

A. Productivity can be improved through the application of mathematical models B. Understanding the worker's perspective is key to successful management C. There is no single "correct" theory; instead, managers should apply the theory that is most sensible in a given situation D. Productivity can be maximized by presenting the right combination of incentives, and correctly designing jobs 1-D, 2-B, 3-A, 4-C

Which definition best fits the commission compensation strategy? A. A pay system that is based on productivity B. A pay system where employees only receive compensation for sales completed during a time period C. A pay system utilized to improve employee satisfaction but is not required D. A dollar amount paid per year

Answer B is correct as it best describes the commission compensation strategy.

What is the primary focus and role of the banking industry? A. Providing checking and savings accounts B. Facilitating car loans and mortgages C. Serving as a conduit for money to flow through an economy D. Managing the finances of individuals and businesses

C is the correct answer as without the banking system, money would not be able to flow freely from individuals to businesses and back.

Which of the following is not acceptable when videoconferencing for a work meeting? A. Mute your microphone when not speaking B. Be aware of your surroundings and background C. Turning off your camera when not speaking D. Minimizing distractions such as the streaming programs or music

C is the correct answer because it is considered very bad form to turn off your camera during a meeting.

Which of the following choices would not be a factor in deciding whether or not to utilize cloud-based storage? A. Remaining capacity of existing local servers B. Costs of using cloud storage vs local storage C. Location of employees that access data D. Control of employee access

C is the correct answer because local storage can be accessed as easily as cloud storage if set up correctly.

When developing a team, which of the following employee attributes would be most beneficial in trying to build a teamwork mindset? A. Ability to complete tasks and projects on time B. A direct and blunt communication style C. Empathy and the ability to listen D. A track record of individual success

C is the correct answer because the ability to be able to identify with others and listen builds positive relationships and trust.

For businesses, identity-based encryption (IBE) is preferable to other forms of encryption because it a.generates a public key automatically upon demand. b.requires servers to store and locate the encryption keys. c.ensures message security by using digital certificates. d.has superior key-management and key-recovery infrastructure.

Option A is correct because IBE uses an algorithm to calculate and generate the public key automatically on an as needed basis which is much faster and more secure than other methods.

Which of the following best describes a digital footprint? a.A technological interaction that can be traced to an individual b.An image embedded in a word processing document c.An erasable online interaction d.An online digital identity

Option A is correct because a digital footprint is a trail or history left behind by a user's interactions with technology.

To have the greatest impact on long-term employee productivity, businesses must a.conduct effective employee evaluations. b.increase production quotas. c.implement a pushing management style. d.raise performance expectations.

Option A is correct because an effective employee evaluation will allow the employee to adjust and improve his or her performance, thus improving productivity.

The Occupational Safety and Health Administration is primarily responsible for which FOUR of the following? a.Controlling workplace noise exposure b.Regulating work walking surfaces c.Establishing requirements for electrical standards d.Driving commercial diving requirements e.Supervising distribution of dietary supplements f.Monitoring the development of X-ray equipment

Option A is correct because noise in the workplace can affect a person's health. Option B is correct because the condition of workplace walking surfaces can cause employee accidents. Option C is correct because electrical requirements and standards in the workplace affect the worker's environment and prevent accidental electrocutions. Option D is correct because commercial diving requirements are regulated by OSHA to protect employees who repair equipment underwater or dive for commercial seafood.

Which of the following best describes the responsibilities of the Equal Employment Opportunity Commission? a.Enforces federal law against discrimination b.Enforces state laws regarding sex, gender, and religion in the workplace c.Ensures the number of men is equal to the number of women in the workplace d.Legislates on behalf of pregnant women for unchanged pay rate during maternity leave

Option A is correct because the EEOC enforces federal laws against discrimination.

Which of the following federal organizations regulates overall workplace safety? a.Occupational Safety and Health Administration b.Equal Employment Opportunity Commission c.United States Department of Agriculture d.Environmental Protection Agency

Option A is correct because the Occupational Safety and Health Administration is the federal agency that regulates workplace safety.

Which of the following advertising claims is most likely to prompt an inquiry by the Federal Trade Commission? a.Using our cream guarantees no more wrinkles. b.Our apple juice gives you more. c.Eat our burgers; they are the best in the world. d.Our diamonds are the finest.

Option A is correct because the company is making a claim that its cream can guarantee no more wrinkles. The Federal Trade Commission's (FTC) duties include investigating unsubstantiated claims; especially when they concern health, safety, or performance.

In which of the following situations has a tort occurred? a.A firework spark lands on a neighbor's tree and burns it down. b.A one-year lease is terminated by the renter before it ends. c.A pet dog runs into the street and is struck by a vehicle. d.A credit card is stolen and used to make several purchases.

Option A is correct because the person shooting fireworks was careless and caused harm to a neighbor's property

Which of the following occurs after a customer withdraws money from an automated teller machine? a.The customer's access privileges are checked. b.The debit is posted to the account. c.The connection to the server is established. d.The system verifies that the customer has an account.

Option B is correct because after the customer has withdrawn money from the account via the ATM, the amount is deducted from the customer's account balance.

Which of the following statements regarding the taxation and international business operations of a company in its residence and source states is true? a.The company pays taxes to the state with the lowest tax rate. b.The residence state mitigates the tax. c.The source state mitigates the tax. d.The company pays taxes only to the residence state.

Option B is correct because allowing the residence state to mitigate the tax is a long-standing international tax agreement that prevents a company from being subject to double taxation when doing business in two countries.

Which TWO of the following benefits are employers required by law to provide? a.Retirement plans or pensions b.Workers' compensation c.Medical leave for childbirth d.Medical insurance plans e.COBRA coverage

Option B is correct because federal law requires businesses to provide workers' compensation. Option C is correct because federal law requires businesses to provide medical leave for childbirth.

Which of the following policies will most likely increase foreign trade? a.Implementing ad valorem tariffs b.Establishing free-trade zones c.Employing packaging regulations d.Applying specific tariffs

Option B is correct because free-trade zones encourage trade by establishing areas where goods are treated as if they are from the country to which they are being imported, thereby reducing duty and tax costs and streamlining production and processes.

Which of the following types of compensation has the greatest positive effect on employee motivation and productivity? a.High pay level at beginning salary b.Varied and attainable pay mix c.Regularly scheduled pay raises d.Uniform employee pay increases

Option B is correct because making a varied pay mix available to workers has been shown to improve employee motivation and therefore productivity.

In which of the following sections of the balance sheet is prepaid insurance recorded? a.Expenses b.Assets c.Liabilities d.Equity

Option B is correct because prepaid insurance is paid in advance and holds value.

Which of the following valuations is used to calculate the straight-line depreciation of an asset? a.Market value b.Salvage value c.Enterprise value d.Replacement value

Option B is correct because salvage value is used as a component of the depreciation calculation.

RXJW is a publicly traded company that is required by law to register its code of ethics with the Securities and Exchange Commission and ensure that its senior financial officers are aware of the policy. Which of the following mandates this requirement? a.Single Audit Act b.Sarbanes-Oxley Act c.Code of Federal Regulations d.National Labor Relations Act

Option B is correct because section 406 of the Sarbanes-Oxley Act requires filing a code of ethics with the SEC and ensuring that financial officers are aware of the policy.

10. The owner of a small boat rental company opened the business as a sole proprietorship but has since decided to bring a friend into the business. It is best for the owner, who is concerned about the cost of changing the form of the company's organization, to change the business structure to a a.corporation. b.partnership. c.joint venture. d.cooperative.

Option B is correct because the cost to form a partnership is less expensive than the cost to form a corporation, joint venture, or cooperative

Which of the following is the best function on a presentation software toolbar for importing graphics into a presentation? a.Edit b.Insert c.Design d.Animations

Option B is correct because the insert tool makes it possible to import a graphic, text, audio, and video.

Which communication skill involves giving the other person your full attention and remaining engaged in what the person has to say? a.Active listening b.Providing feedback c.Assertive communication d.Asking questions

a. Active listening is a communication skill requiring full engagement in what the other person is saying. It is important to avoid being distracted or thinking of a reply as the other person is speaking. Making eye contact and refraining from interruption is also important. Active listening can make the upset party feel heard and valued.

Amy and Abby own a cleaning company under a partnership structure. During a cleaning job, Amy spilled bleach on an antique rug, causing irreparable damage. The homeowners plan to sue for damages. How much liability do Amy and Abby have in this situation? a.Both company and personal assets can be lost in the suit b.Only the company assets can be lost in the suit c.Only the amount of capital invested by each partner can be lost in the suit d.The insurance company will cover all damages and the homeowners will not be able to sue

a. Amy and Abby can lose all their business assets in a lawsuit. If the business assets do not cover all the damages, they can also lose their personal assets. It does not matter if the insurance company covers the damages; if the owners decide to sue, they have the right to do so. Had Amy and Abby filed articles of organization to become a limited liability company (LLC), they would not be personally liable for the lawsuit.

Which area of law prevents unlawful business activities, such as price fixing, monopolies, mergers that may hurt consumers, and agreements between competitors that may result in higher prices or lesser quality for consumers? a.Antitrust laws b.Truth in advertising c.Federal Trade Commission d.Trade regulation laws

a. Antitrust laws were created and are enforced by the Federal Trade Commission. The purpose of antitrust laws is to protect consumers from harmful business practices. This includes activities that would prevent fair competition, such as monopolies, or massive mergers that would make competition impossible. It also protects consumers from price fixing and bid rigging.

Which is the most common format for a formal business letter? a.Block style b.Modified block c.Building block d.Semi-block

a. Letters presented in block style are entirely left justified and presented in single space (except for a double space between paragraphs). In the modified block style, the date, the sender's return address, closing, and signature all start near the middle of the page. Semi-block format uses indentation for the paragraphs.

Which is NOT true of open trade? a.Open trade doesn't provide a variety of goods. b.It may be referred to as "free trade". c.There are no restrictions placed on imports or exports. d.Open trade helps to increase resources.

a. Open trade, which may be referred to as free trade, doesn't have any restrictions in place for imports or exports. It may help to increase resources and it provides a variety of goods.

Select the opportunity cost of driving from New York to Chicago instead of flying. a.Less time traveling b.Cost of gasoline and tolls for car c.Extra time with family while traveling d.Buying a new car

a. Opportunity cost refers to the cost (monetary or otherwise) of selecting an option over the next best alternative. When driving is the choice (instead of flying), the benefits associated with air travel are the opportunity costs of this decision.

Jim runs a company that fabricates small metal components which are used by other companies to make various types of mechanical parts. It is imperative that these parts are created with precision to exact specifications, otherwise the components used may not fit or could cause malfunctions. Efficiency is essential, as profit margins are low, and waste can quickly damage the bottom line. Every employee at Jim's company shares his regard for customer satisfaction and efficient operations, from sales, to finance, to the CNC machine operators, and they aim for continually improving the customer experience. These shared values have created much success for the company. What type of operations management process is Jim likely implementing in his company? a.Total quality management b.Enterprise resource planning c.Strategic planning d.Operational design

a. Total quality management involves continually improving the customer experience while minimizing errors and waste. TQM is focused on high efficiency without losing sight of the most important element of the business process, the consumer. For TQM to be fully integrated, all members of an organization must be fully committed at all levels of operation. Jim is not only committed to TQM, but he has engaged his staff to be just as dedicated.

A business education teacher is asked to serve as an advisor to the local chapter of a student leadership organization. The teacher's primary responsibility as an advisor is most likely to: a.Ensure that students follow established procedures for conducting meetings b.Ensure the health and safety of student participants in the organization c.Design and implement activities for the group d.Collect and account for dues and fundraising proceeds

b. A business education teacher who is asked to serve as an advisor the local chapter of a student leadership organization is most likely to be responsible for ensuring the health and safety of student participants in the organization. In order to teach leadership and business skills, students are usually primarily responsible for holding meetings, planning activities, and accounting for funds. Advisors are present to guide students and protect students' health and safety.

An example of _____ communication style is using i-statements. a.Aggressive b.Assertive c.Passive d.Passive-aggressive

b. Assertive communicators are able to effectively express their thoughts and opinions. Using i-statements allows an individual to clearly convey their meaning without offending others (aggressive) and without being self-conscious (passive) or sarcastic (passive-aggressive). An example of an i-statement is, "I appreciate when you give me your full attention while I am speaking in the meeting."

Coca-Cola has been the leader in the soda industry for most of its existence. Which economic advantage explains Coca-Cola's position in the soda industry? a.Absolute advantage b.Competitive advantage c.Comparative advantage d.Market share advantage

b. Coca-Cola is experiencing competitive advantage in the soda industry. This would not be an example of an absolute advantage, as there are other competitors in the industry. Comparative advantage would not apply either, as Coca-Cola is not able to produce soda at a significantly lower cost than their competitors.

Which is NOT an input device? a.Mouse and keyboard b.Removable media c.Webcam d.Microphone

b. Input devices are used to enter information into the system or to control operations. They include keyboards, mice (or touchpads on a laptop), webcams, and microphones. Removable media, such as flash drives and memory cards, are a way to transfer data from one computer to another.

Which of the following organizations is NOT recognized by the US Department of Education for secondary schools? a.DECA b.International Honor Organization for Financial Information Students and Professionals c.Future Business Leaders of America d.Business Professionals of America

b. Participation in student organizations provides important opportunities to develop business and leadership skills. The International Honor Organization for Financial Information Students and Professionals (Beta Alpha Psi) is a college student organization for those pursuing degrees in accounting, finance, business analytics, or digital technology. DECA is a nationwide high school and college student organization. Future Business Leaders of America, and Business Professionals of America are nationwide organizations for middle, high school, and college students. They all have local chapters.

A hospital comes under a cyber-attack. They lose access to patient files, security badges stop working, preventing staff from getting into or moving through the building, and all electronic communication is disabled. Doctors and nurses struggle to care for patients without having access to electronic charts, prescriptions, and scheduled procedures. Hospital administrators receive a notification on their computers demanding a large sum of money to remove the virus and release their essential data. The hospital is most likely under what type of cyber-attack? a.Spyware b.Ransomware c.Malware d.Trojan virus

b. The hospital is most likely under a ransomware attack. The individuals responsible for the attack have taken the information hostage and are demanding to be paid a ransom to release their data.

You are teaching a web design course and are preparing a lesson on RGB colors. The art teacher recently taught a lesson on contrasting and complimentary colors and has offered to share the materials from that lesson. By using the art teacher's suggestions, your students will have a better understanding of why developers use certain color combinations and avoid others. Simultaneously, the art teacher decides to teach a lesson on color interpretation and screen variances, using some of the material you are discussing in web design. Combining concepts from both web design and art, which type of teaching strategy are you using? a.Team teaching b.Cross-curricular instruction c.Cooperative learning d.Differentiated instruction

b. This is an example of cross-curricular learning. This collaboration between teachers of different subjects allows students to apply what they learn in one class to another. This is beneficial to students who may be stronger in one subject compared to another. In this example, a student may really enjoy art, but may not like learning about web design. Bringing in art elements can make the lesson more engaging for those students. Conversely, some students may have strong technology skills but may not enjoy art as much.

Which type of work-based learning provides an opportunity for a student to work in a business for a short time to gather experience and learn about the industry? a.Job shadowing b.Internships c.Mentorships d.Co-ops

b. Work-based learning combines the classroom with real-world opportunities, and the sponsoring company is able to determine if the student may be a good employee candidate. Internships provide job experience that allows students to put into practice skills they have been learning in school. Job shadowing provides the opportunity for a new employee to be trained for a specific job. Mentorships foster relationships between students and business professionals. Typically, the mentor serves as a role model, provides information about careers, and often can introduce students to other professionals for potential jobs. Cooperative education (often called a co-op) allows students to alternate time in the classroom with time in the workplace. Compared to internships, co-ops usually last longer and are often tied into a college course of study.

Which is NOT true of the Strengthening Career and Technical Education for the 21st Century Act (Perkins V)? a.Its objective is to improve technical education in all 50 states. b.There are requirements to connect academic content with technical education. c.Funding is dependent on annual Congressional approval. d.The current law is extended through 2024.

c

Which of the following activities provides the best example of collaboration between business education teachers and teachers of other subject areas? a.Students in a business education class are asked to write cover letters and resumes b.Students in a business education class read case studies about research and development for new products c.A business education teacher and a math teacher coordinate their lesson plans so that the concepts taught in math class are subsequently applied to real situations in the business class d.Students in a business class learn to balance checkbooks

c

Adam Smith is best known for: a.Founding the doctrine of mercantilism b.Supporting the spread of communism c.Arguing for free market economics d.Arguing that the government should redistribute income

c. Adam Smith is best known for writing The Wealth of Nations, a treatise on free market economics in which he describes an "invisible hand" which guides the marketplace through individuals protecting their own self-interest. He argued that economic competition through a free market would be the best way to increase economic efficiency, productivity, and ultimately human happiness.

What is the communication style where the individual asks for what is needed, says what is felt, and is respectful of others? a.Passive b.Aggressive c.Assertive d.Visual

c. Being assertive allows the individual to communicate feelings and thoughts while also respecting those of others. Passive communicators seek to avoid making their needs known and often speak softly and apologetically. Those who are aggressive typically have no regard for others and are sometimes considered abusive.

What is the name of the field concerned with increasing productivity while minimizing discomfort and risk of injury? a.User-friendly efficiency b.Comfort design c.Ergonomics d.Structural design

c. Fundamental principles of ergonomics include keeping everything within reach, maintaining proper posture, minimizing excessive motion, and reducing fatigue.

Which of the following steps might a company take in order to prevent unauthorized individuals from accessing confidential data? a.Requiring a username and password to access its computer system b.Constructing a firewall to protect its computer system c.Both A and B d.Neither A nor B

c. In order to prevent unauthorized individuals from accessing confidential data, a company might require a username and password to access its computer system, and also construct a firewall to protect the computer system. By requiring passwords, the company can prevent unauthorized users such as former employees from accessing its computer system, and firewalls are designed to prevent hackers from accessing the data.

Which of the following would violate federal child labor regulations? a.Hiring your own child to work in your small business if the child is under 14 b.Employing someone under 14 as a newspaper carrier c.Employing someone under 18 in a job deemed hazardous d.Employing anyone under 18 as a babysitter

c. It is illegal to employ someone under 18 in a job deemed hazardous.

Which choice is NOT an issue of concern with email? a.Spam b.Malware c.Overuse by teens d.Spoofing

c. Recent studies confirm that young adults (ages 13 to 24) are over three times more likely to use messaging apps or social media instead of email. The other three choices are serious concerns with email use. Spam is unsolicited bulk email, malware is one type of malicious email, and spoofing refers to the fraudulent use of a header so that an email appears to come from a trusted source.

Only full time employees of Scott Smith's company, whose time card is shown in the table, have health insurance and 401k benefits deducted from their paychecks. Based on the number of hours Smith worked from November 1st through November 7th, which of the following is a correct list of his payroll deductions if he is a W-4 employee? a.401k and health insurance b.Social security and Medicare c.Social security, Medicare, and income taxes d.None of the above

c. Smith, who is a part time employee, should have social security, Medicare, and income taxes deducted from his check, because he is a W-4 employee. Since he worked less than 40 hours from November 1st through November 7th, though, he is not a full time employee and does not have health insurance or 401k deductions.

Which of the following is not an example of insurance fraud? a.Filing more than one claim for the same accident b.Claiming false theft of an item to collect the insurance money c.Filing a claim for damages sustained in an accident based on the estimated repair cost d.Intentionally causing damage for an insurance payout

c. The correct answer is filing a claim for damages sustained in an accident based on the estimated repair cost. This would be an appropriate use of insurance and not fraud because you did not intentionally cause the accident and you are not claiming more than the actual repair cost. Insurance fraud occurs when you use deceptive practices in paying or collecting insurance claims.

Which of the following occurs during the recession stage of the business cycle? a.Unemployment decreases b.Production increases c.Spending decreases d.GDP increases

c. The correct answer is spending decreases. During a recession, the economy contracts decreasing spending and GDP and increasing unemployment.

Which of the following is NOT one of the essential elements of an enforceable, legally binding contract for any agreement involving less than $500? a.Consideration b.Mutuality of obligation c.Written documentation d.Competency and capacity

c. The five essential elements that are required in an enforceable contract are: -An offer -Acceptance -Consideration -Mutuality of obligation -Competency and capacity A contact does not necessarily need to be written unless the agreement involves more than $500. Verbal contracts are legal and enforceable in this situation. However, it is advisable that all contracts are in writing, outline all terms, and are signed by all parties involved. Written documentation makes it easier to enforce the contract should any party breach its terms.

The main function of a human resources department is to: a.Meet the company's recruiting goals b.Maximize employee productivity while minimizing pay c.Facilitate communication between the employer and the employees d.Prevent lawsuits

c. The main function of a human resources department is to facilitate communication between the employer and the employees. While human resources departments are primarily responsible to the company's upper management, they are intended to provide a "neutral" conduit through which personnel policies can be devised and implemented, and through which employees can express and resolve concerns.

At a meeting with shareholders, an executive would be most likely to use which of the following visual aids to present a report on monthly stock gains and losses over a one-year period? a.Bar chart b.Pie chart c.Line graph d.Scatterplot

c. The most effective way to convey information about monthly stock gains and losses over a one-year period would be to use a line graph, which would clearly indicate month-to-month changes in stock price over time. Bar and pie charts are most effective for conveying categorical information about things like market share and sector weighting, and scatter plots are usually used to show results that are comprised of many individual responses, like survey results.

Fault-tolerant technology assists with which stage of an information technology asset's life cycle? a.Production b.Identification c.Management d.Disposal

c. The stages of the life cycle for information technology assets are identification, production, management, and disposal. Fault-tolerant technology, or using redundant components, aids with the management of the asset.

Which one is NOT a major barrier to international trade? a.Distance b.Taxes c.Trade agreements d.Quotas

c. Trade agreements are formal, multinational pacts that encourage free trade and address issues such as taxes, tariffs, and other trade restrictions. Natural barriers describe the impact of distance and geography. Tariffs are a barrier and include taxes. Non-tariff barriers include quotas that place limits on the number of imports and embargoes, which are bans on commercial activity with a specific country.

Which of the four functions of management consists of monitoring and evaluating employees? a.Organizing b.Leading c.Planning d.Controlling

d.

In the early 1970s, the nuclear reactor facility at Three Mile Island experienced the worst commercial nuclear power plant disaster in US history. Appropriate safety controls and procedures were lacking and human error worsened the situation due to lack of adequate training. The result was a partial meltdown which emitted radioactive gasses. Which common management process would have likely prevented this disaster? a.Regulatory standards b.Project management c.Automation d.Quality control

d. A quality control process would likely have prevented this disaster, or at least reduced its effects on the environment. Mechanical controls should have been in place, as well as a system of routine safety procedures. Human error could also have been prevented if employees were properly trained to prevent situations like this from arising, and what to do about them if problems happen.

Which of the following identifies what people need to access big data? a.Cloud services b.Internet access c.Intranet access d.Special software

d. Big data is a large swath of data that requires special software to access. Such data comes from various forms of sources and in various formats. To analyze it, people need to be able to access software.