Business Final Exam Multiple Choice
Questions with Accurate Answers
The process of accomplishing the goals of an organization through the effective use of
people and other resources (a) planning (b) supervision (c) management (d)
implementation - ANSWERSmanagement
The function being performed when a manager is carrying out plans and helping
employees work effectively is (a) planning (b) organizing (c) implementing (d) budgeting
- ANSWERSImplementing
Which of the following is NOT one of the common responsibilities of supervisors (A)
communicate goals and directions to employees (B) encourage employees to do their
best work (C) keep employee complaints and concerns from top management to
prevent problems (D) control costs and use resources efficiently - ANSWERSkeep
employee complaints and concerns from top management to prevent problems
Which tool will be most important when a supervisor is determining the work to be done,
setting priorities fro the most important work, and ensuring that the work is completed
(a) work schedules (b) memos and reports (c) evaluation checklists (d) none of the
responses - ANSWERSwork schedules
The general way a manager treats and supervises employees is called (a) human
relations (b) management (c) power (d) leadership style - ANSWERSleadership style
Which of the following statements about leadership is true? (a) leadership is directly
related to the success of the organization (b) studies have identified certain
characteristics that effective leaders possess (a) good leadership requires excellent
human relations skills (d) all of the responses - ANSWERSAll of the responses
Strategic planning (a) short-term planning (b) determines how work will be done and
who will do it (c) provides broad goals and direction for the entire business (d) is a short,
specific statement of the purpose and direction of the business - ANSWERSprovides
broad goals and direction for the entire business
Which of the following is NOT an example of an operational plan? (a) setting monthly
production levels (b) planning inventory levels (c) developing department budget (d)
revising the mission statement for the business - ANSWERSrevising the mission
statement for the business
, The management function of guiding employee actions toward achievement of a
company's goals is (a) controlling (b) implementing (c) organizing (d) planning -
ANSWERSimplementing
Which of the following is NOT an important implementing activity? (a) effective
communications (b) employee motivation (c) developing effective work teams (d) setting
standards - ANSWERSsetting standards
Approximately how many new businesses fail within the first five to six years (a) 5% (b)
25% (c) 50% (d) 75% - ANSWERS50%
A nonprofit corporation is an organization that (a) pays taxes and exists to make a profit
(b) pays taxes and does not exist to make a profit (c) does not pay taxes and does not
exist to make money (d) pays dividends to shareholders - ANSWERSdoes not pay
taxes and does not exist to make money
A French tax on beverages imported from the US is an example of (a) embargo (b)
quota (c) sanction (d) tariff - ANSWERStariff
Before and American company can sell its left-side steering wheel motor vehicles to
Ireland, it must change the steering wheel to the right side. This restriction imposed by
Ireland is called (a) sanction (b) non-tariff barrier (c) embargo (d) injunction -
ANSWERSNon-tariff barrier
Which phase of the business cycle is characterized by low inflation, with a modest rise
in the GDP, profits and employment (a) contraction (b) expansion (c) peak (d) trough -
ANSWERSexpansion
An economic system in which a central planning authority owns most of the factors of
production and determines what, how, and for whom goods and services will be
produced is called (a) central economy (b) command economy (c) market economy (d)
mixed economy - ANSWERScommand economy
All of the following are factors in determining comparable worth except (a) requiring
special skills (b) requiring certain physical ability (c) specifying a male or female for the
position (d) specifying a particular - ANSWERSspecifying a male or female for the
position
An on-site day-care facility is an example of a (a) commitment to health and safety (b)
family-friends benefit (c) flexible scheduling (d) telecommuting - ANSWERSfamily-
friendly benefit
A successful restaurateur chose to expand her business by selling a franchise to
someone in another city. The person who bought the franchise is called a (a)
entrepreneur (b) franchisee (c) franchisor (d) investor - ANSWERSfranchisor
Questions with Accurate Answers
The process of accomplishing the goals of an organization through the effective use of
people and other resources (a) planning (b) supervision (c) management (d)
implementation - ANSWERSmanagement
The function being performed when a manager is carrying out plans and helping
employees work effectively is (a) planning (b) organizing (c) implementing (d) budgeting
- ANSWERSImplementing
Which of the following is NOT one of the common responsibilities of supervisors (A)
communicate goals and directions to employees (B) encourage employees to do their
best work (C) keep employee complaints and concerns from top management to
prevent problems (D) control costs and use resources efficiently - ANSWERSkeep
employee complaints and concerns from top management to prevent problems
Which tool will be most important when a supervisor is determining the work to be done,
setting priorities fro the most important work, and ensuring that the work is completed
(a) work schedules (b) memos and reports (c) evaluation checklists (d) none of the
responses - ANSWERSwork schedules
The general way a manager treats and supervises employees is called (a) human
relations (b) management (c) power (d) leadership style - ANSWERSleadership style
Which of the following statements about leadership is true? (a) leadership is directly
related to the success of the organization (b) studies have identified certain
characteristics that effective leaders possess (a) good leadership requires excellent
human relations skills (d) all of the responses - ANSWERSAll of the responses
Strategic planning (a) short-term planning (b) determines how work will be done and
who will do it (c) provides broad goals and direction for the entire business (d) is a short,
specific statement of the purpose and direction of the business - ANSWERSprovides
broad goals and direction for the entire business
Which of the following is NOT an example of an operational plan? (a) setting monthly
production levels (b) planning inventory levels (c) developing department budget (d)
revising the mission statement for the business - ANSWERSrevising the mission
statement for the business
, The management function of guiding employee actions toward achievement of a
company's goals is (a) controlling (b) implementing (c) organizing (d) planning -
ANSWERSimplementing
Which of the following is NOT an important implementing activity? (a) effective
communications (b) employee motivation (c) developing effective work teams (d) setting
standards - ANSWERSsetting standards
Approximately how many new businesses fail within the first five to six years (a) 5% (b)
25% (c) 50% (d) 75% - ANSWERS50%
A nonprofit corporation is an organization that (a) pays taxes and exists to make a profit
(b) pays taxes and does not exist to make a profit (c) does not pay taxes and does not
exist to make money (d) pays dividends to shareholders - ANSWERSdoes not pay
taxes and does not exist to make money
A French tax on beverages imported from the US is an example of (a) embargo (b)
quota (c) sanction (d) tariff - ANSWERStariff
Before and American company can sell its left-side steering wheel motor vehicles to
Ireland, it must change the steering wheel to the right side. This restriction imposed by
Ireland is called (a) sanction (b) non-tariff barrier (c) embargo (d) injunction -
ANSWERSNon-tariff barrier
Which phase of the business cycle is characterized by low inflation, with a modest rise
in the GDP, profits and employment (a) contraction (b) expansion (c) peak (d) trough -
ANSWERSexpansion
An economic system in which a central planning authority owns most of the factors of
production and determines what, how, and for whom goods and services will be
produced is called (a) central economy (b) command economy (c) market economy (d)
mixed economy - ANSWERScommand economy
All of the following are factors in determining comparable worth except (a) requiring
special skills (b) requiring certain physical ability (c) specifying a male or female for the
position (d) specifying a particular - ANSWERSspecifying a male or female for the
position
An on-site day-care facility is an example of a (a) commitment to health and safety (b)
family-friends benefit (c) flexible scheduling (d) telecommuting - ANSWERSfamily-
friendly benefit
A successful restaurateur chose to expand her business by selling a franchise to
someone in another city. The person who bought the franchise is called a (a)
entrepreneur (b) franchisee (c) franchisor (d) investor - ANSWERSfranchisor
