FinOps Final Exam with correct answers.

FinOps Final Exam with correct answers


Private investors who fund start-up businesses are called - ** VERIFIED ANSWERS🔰
✔✔Angel Investors



A(n) is a written statement of goals and objectives for a business with a strategy to achieve
them. - ** VERIFIED ANSWERS🔰 ✔✔Business Plan



The movement of money into and out of a business is called . - ** VERIFIED ANSWERS🔰
✔✔Cash Flow



is an asset pledged that will be claimed by a lender if the loan is not repaid. - ** VERIFIED
ANSWERS🔰 ✔✔Collateral



A person who starts a new business or purchases an existing business is a(n) - ** VERIFIED
ANSWERS🔰 ✔✔Entrepreneur



Capital brought into a business in exchange for a percent of ownership in the business is
called - ** VERIFIED ANSWERS🔰 ✔✔Equity Financing



are critical skills necessary to perform the required work-related tasks of a position - **
VERIFIED ANSWERS🔰 ✔✔Job-Specific Skills



is someone with experience who can provide advice, suggestions, and ideas - ** VERIFIED
ANSWERS🔰 ✔✔Mentor



the process of gathering and analyzing of information about a business - ** VERIFIED
ANSWERS🔰 ✔✔Market Research

,is a sentence in a business plan that describes the purpose of the business - ** VERIFIED
ANSWERS🔰 ✔✔Mission Statement



outlines how company decisions are made - ** VERIFIED ANSWERS🔰 ✔✔Policy



How a business identifies the hierarchy of the employees within a business - ** VERIFIED
ANSWERS🔰 ✔✔Organizational structure



The authority structure of a company from the highest to the lowest levels is called the - **
VERIFIED ANSWERS🔰 ✔✔Chain of Command



the process of controlling and making decisions about a business - ** VERIFIED
ANSWERS🔰 ✔✔Management



plans are created for the long-term goals of an organization - ** VERIFIED ANSWERS🔰
✔✔Strategic Plans



The process of recruiting, hiring, training, evaluating, and compensating employees is called
- ** VERIFIED ANSWERS🔰 ✔✔Staffing



Theory__managers believe that employees need close supervision at all times. - **
VERIFIED ANSWERS🔰 ✔✔Theory X



The practice of organizing time and work tasks to increase personal efficiency is called - **
VERIFIED ANSWERS🔰 ✔✔Time Management



The ability to analyze a situation, interpret information, and make reasonable decisions
involves - ** VERIFIED ANSWERS🔰 ✔✔Critical-Thinking Skills

, The interacting forces within a group are - ** VERIFIED ANSWERS🔰 ✔✔Group Dynamics



The area of management responsible for the activities necessary to produce goods and
services is - ** VERIFIED ANSWERS🔰 ✔✔Operations Management



includes any activity related to making a product - ** VERIFIED ANSWERS🔰
✔✔Production



The process of changing and improving resources to create goods or services is called - **
VERIFIED ANSWERS🔰 ✔✔Conversion



is changing the form of raw materials for another use - ** VERIFIED ANSWERS🔰
✔✔Material Processing



The manufacturing of goods in large quantities using standard techniques is called - **
VERIFIED ANSWERS🔰 ✔✔Mass Production



Business______ is the activity of acquiring materials, supplies, or services necessary to
create a product - ** VERIFIED ANSWERS🔰 ✔✔Business Purchasing



A _________inventory-control system should the quantity of inventory on hand at all times
- ** VERIFIED ANSWERS🔰 ✔✔Perpetual inventory-control system



The process of deciding which products will be most strategic for an organization to produce
is ______________ planning - ** VERIFIED ANSWERS🔰 ✔✔Product Planning



A prototype is used to test a new product and a(n) ________ -is used to test a new service -
** VERIFIED ANSWERS🔰 ✔✔Trial Run