Major Field Test Questions and Answers (Graded A+)

Which of the following best describes an open systems approach? A)A set of unrelated parts that individually interact with the environment B) Interdependent parts that do not interact with the environment C) Related parts in a static relationship with the environment D) Interdependent parts in a dynamic relationship with the environment - ANSWER-D) Interdependent parts in a dynamic relationship with the environment Which of the following describes what a person does in a particular job. A)Job analysis B) Performance Appraisal C) Job description D) On-the-job training - ANSWER-C) Job description The further a business plan goes into the future the more likely it is to be changed prior to being put into effect, so A)long range planning is not feasible in business B) Long range should be reviewed on a regular basis C)only experts who understand forecasting should make plans D) budgeting should happen before planning - ANSWER-B) Long range should be reviewed on a regular basis A firm engages in business overseas. Which of the following variables, in the short term, is LEAST important. A)Currency exchange rates B) Political stability C)Population growth rate D)Tax structure for business - ANSWER-C)Population growth rate Some entrepreneurs open their own businesses because they want full control.. This same trait is a common cause of business failure because many small business owners A) Delay in training a successor B) Fail to monitor financial performance C) Underestimate the demands of customers D) Fail to delegate authority and responsibility - ANSWER-D) Fail to delegate authority and responsibility W