CTE Exam Review- Business Mgt Latest Update 2023 A+ Latest Upload Question And Answers

CTE Exam Review- Business Mgt Latest Update 2023 A+ Latest Upload Question And Answers. The controlling function of management involves - correctanswers-Evaluating and possible revising previous decisions The first step in management, and perhaps the most important management function is: - correctanswers-Planning Which of the following activities is not involved in the business decision making process? - correctanswers-Pension In the long-term planning process, increased profits, growth, and market share are typical of... - correctanswers-Strategic Objectives Which statement about budgets is TRUE? - correctanswers--Budgets must be followed exactly as planned -A budget guarantees a certain amount of profit -Budgets state what will happen rather than what is expected to happen -Budgets can help in controlling a business (correct answer) Planning tools include such items as... - correctanswers-budgets, schedules, and policies what is the most valuable resources used in organizing function to accomplish strategic goals. - correctanswers-labor What is the type of organization in which all major planning and decision-making is done by a group of top managers in the business? - correctanswers-centralized Developing and using charts to show lines of authority is a part of what management function? - correctanswers-organizing The process of influencing people to direct their efforts toward the achievement of particular objectives is termed - correctanswers-leadership Sharing authority with workers and asking subordinates for input in decision making is characteristic of - correctanswers-a democratic leadership style Which type of leader/manager exercises the greatest amount of authority? - correctanswers-autocratic flexible work schedule - correctanswers-Allow workers to set their own work hours within limits set by the organization Cross training workers is important to employees because it - correctanswers-prepares workers to be more productive The act of comparing actual results against expected performance within a predetermined time is... - correctanswers-controlling When standards are not being met, managers should find ways to correct problems. Which of the following is NOT a good alternative action? - correctanswers-increase current production The control of technique used by managers who visit the work place to discover first hand how operations are being maintained is a way to... - correctanswers-evaluate performance expectations Which type of management assumes people are basically lazy and have to be threatened before they will work? - correctanswers-Theory X Which type of management assumes that people are creative and responsible and will work hard under the proper conditions. - correctanswers-Theory Y Why are financial statements so important? - correctanswers-They summarize liquidity, value, and trends A financial statement that shows the profit of loss of a business for a particular period of time is - correctanswers-an income statement Efficient and skillful financial management is critical to company survival and contributes to the company's... - correctanswers-profits A technique used to determine the level of production at which total revenues from selling products equal total expenses in incurred in making is - correctanswers-break even analysis What measures the value of currency in world markets? - correctanswers-exchange rates If a small business is unable to obtain a loan from at least two banks, the business is eligible to apply for.. - correctanswers-a small business administration loan Which term is used for investors who specialize in finding small firms that offer potential for rapid growth and high returns? - correctanswers-venture capitalists American consumers benefit from international trade by getting.. - correctanswers-more product choices and lower prices Given that television advertising reaches a broad audience and can be seen and heard, why is it not the media used by most companies? - correctanswers-it's very expensive The US Auto Industry is an excellent example of... - correctanswers-oligopoly (a few companies dominate an industry) Which of the following survey questions is LEAST likely to be addressed by marketing research? - correctanswers-What raw materials should be used? The process of moving goods from the place of manufacture to the place of purchase is called.... - correctanswers-transporting The process of dividing markets into groups that have similar characteristics is called... - correctanswers-market segmentation Promotion includes all of the following EXCEPT... - correctanswers-product development Which branch of economics is concerned mainly with the overall economy? - correctanswers-ma