CTE 70 Exam Review- Business Mgt
A company can promote ethical behavior by rewarding those who report misconduct taking
place in the company. People who call attention to illegal or unethical practices are commonly
called... - ✔ ✔ whistle blowers
Which of the following survey questions is LEAST likely to be addressed by marketing
research? - ✔ ✔ What raw materials should be used?
Which of the following terms is used to describe the standards that govern business behavior?
- ✔ ✔ business ethics
Which statement about budgets is TRUE? - ✔ ✔ -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)
Which term is used for investors who specialize in finding small firms that offer potential for
rapid growth and high returns? - ✔ ✔ venture capitalists
A financial statement that shows the profit of loss of a business for a particular period of time
is - ✔ ✔ an income statement
All of the following are problems associated with having too much inventory except... - ✔ ✔
Risk of employee strike
American consumers benefit from international trade by getting.. - ✔ ✔ more product
choices and lower prices
An organization composed of employees who have joined forces to achieve common goals
such as higher wages and improved working conditions is called a(n)... - ✔ ✔ Union
Bill Perkins, a selection specialist for Supreme Yogurt Company, is using a semi-structured
interview with Donna Delgado. In this relaxed atmosphere, he asks Donna to tell him her age
and religion. Bill's actions are... - ✔ ✔ illegal
Business' obligation to society is most often referred to as. - ✔ ✔ social responsibility
Businesses that fail to take responsibility for product safety may face... - ✔ ✔ costly
lawsuits
, government actions
negative publicity
CAD is an abbreviation for... - ✔ ✔ Computer Aided Design
Computers do not make decisions for managers but instead are most useful as... - ✔ ✔ a
tool for storing and manipulating data
Cross training workers is important to employees because it - ✔ ✔ prepares workers to be
more productive
Developing and using charts to show lines of authority is a part of what management function?
- ✔ ✔ organizing
Efficient and skillful financial management is critical to company survival and contributes to
the company's... - ✔ ✔ profits
Employees who launch and manage a new business venture independently are called... - ✔
✔ entrepreneurs
A society's beliefs, attitudes, values, and behavior is called its - ✔ ✔ cultures
A technique used to determine the level of production at which total revenues from selling
products equal total expenses in incurred in making is - ✔ ✔ break even analysis
A visual representation of a company's employees and management, and their lines of
authority is known as.... - ✔ ✔ an organization chart
All of the following are electronic/non-electronic methods used by management to
communicate with employees EXCEPT - ✔ ✔ invoices
flexible work schedule - ✔ ✔ Allow workers to set their own work hours within limits set
by the organization
Given that television advertising reaches a broad audience and can be seen and heard, why is
it not the media used by most companies? - ✔ ✔ it's very expensive
If a company goes bankrupt, who is repaid first when the assets are sold? - ✔ ✔ secured
creditors
If a small business is unable to obtain a loan from at least two banks, the business is eligible
to apply for.. - ✔ ✔ a small business administration loan
If a US and Japanese automobile company pool their resources to manufacture a car and
divide responsibilities and profits, it would probably be organized as a... - ✔ ✔ joint venture
A company can promote ethical behavior by rewarding those who report misconduct taking
place in the company. People who call attention to illegal or unethical practices are commonly
called... - ✔ ✔ whistle blowers
Which of the following survey questions is LEAST likely to be addressed by marketing
research? - ✔ ✔ What raw materials should be used?
Which of the following terms is used to describe the standards that govern business behavior?
- ✔ ✔ business ethics
Which statement about budgets is TRUE? - ✔ ✔ -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)
Which term is used for investors who specialize in finding small firms that offer potential for
rapid growth and high returns? - ✔ ✔ venture capitalists
A financial statement that shows the profit of loss of a business for a particular period of time
is - ✔ ✔ an income statement
All of the following are problems associated with having too much inventory except... - ✔ ✔
Risk of employee strike
American consumers benefit from international trade by getting.. - ✔ ✔ more product
choices and lower prices
An organization composed of employees who have joined forces to achieve common goals
such as higher wages and improved working conditions is called a(n)... - ✔ ✔ Union
Bill Perkins, a selection specialist for Supreme Yogurt Company, is using a semi-structured
interview with Donna Delgado. In this relaxed atmosphere, he asks Donna to tell him her age
and religion. Bill's actions are... - ✔ ✔ illegal
Business' obligation to society is most often referred to as. - ✔ ✔ social responsibility
Businesses that fail to take responsibility for product safety may face... - ✔ ✔ costly
lawsuits
, government actions
negative publicity
CAD is an abbreviation for... - ✔ ✔ Computer Aided Design
Computers do not make decisions for managers but instead are most useful as... - ✔ ✔ a
tool for storing and manipulating data
Cross training workers is important to employees because it - ✔ ✔ prepares workers to be
more productive
Developing and using charts to show lines of authority is a part of what management function?
- ✔ ✔ organizing
Efficient and skillful financial management is critical to company survival and contributes to
the company's... - ✔ ✔ profits
Employees who launch and manage a new business venture independently are called... - ✔
✔ entrepreneurs
A society's beliefs, attitudes, values, and behavior is called its - ✔ ✔ cultures
A technique used to determine the level of production at which total revenues from selling
products equal total expenses in incurred in making is - ✔ ✔ break even analysis
A visual representation of a company's employees and management, and their lines of
authority is known as.... - ✔ ✔ an organization chart
All of the following are electronic/non-electronic methods used by management to
communicate with employees EXCEPT - ✔ ✔ invoices
flexible work schedule - ✔ ✔ Allow workers to set their own work hours within limits set
by the organization
Given that television advertising reaches a broad audience and can be seen and heard, why is
it not the media used by most companies? - ✔ ✔ it's very expensive
If a company goes bankrupt, who is repaid first when the assets are sold? - ✔ ✔ secured
creditors
If a small business is unable to obtain a loan from at least two banks, the business is eligible
to apply for.. - ✔ ✔ a small business administration loan
If a US and Japanese automobile company pool their resources to manufacture a car and
divide responsibilities and profits, it would probably be organized as a... - ✔ ✔ joint venture
