CTE Exam Review- Business MGT Exam Questions And Answers Verified 100% Correct

CTE Exam Review- Business MGT Exam Questions And Answers Verified 100% Correct Today, business is becoming driven by the wants and needs of... - ANSWERscustomers When the GDP declines for two consecutive quarters, the economy is said to be experiencing a... - ANSWERs-recession Why is knowledge of economics important for business managers? - ANSWERsBecause the state of the economy will dictate the type of decisions they will make. What is human resource management? - ANSWERs-the process of planning, staffing, training, developing, appraising, and maintaining and organization's personal needs. What is the process of teaching employees the procedures and techniques for doing their job efficiently? - ANSWERs-training Bill Perkins, a selection specialist for Supreme Yogurt Company, is using a semistructured interview with Donna Delgado. In this relaxed atmosphere, he asks Donna to tell him her age and religion. Bill's actions are... - ANSWERs-illegal Which of the following is NOT a typical role of human resources management? - ANSWERs-preparing financial statements What is the term which describes locating and attracting qualified job applicants? - ANSWERs-recruitment The intent of the Civil Rights Act of 1964 is to... - ANSWERs-secure equal employment opportunities Paying workers equally for jobs with similar requirements is known as... - ANSWERs-comparable worth All of the following are electronic/non-electronic methods used by management to communicate with employees EXCEPT - ANSWERs-invoices If one partner makes a contract that isn't profitable for the partnership, the other partners... - ANSWERs-are bound by the contract When a owner of a corporation dies... - ANSWERs-the life of the corporation is not affected In most states, starting a sole proprietorship is usually... - ANSWERs-quite easy If a company goes bankrupt, who is repaid first when the assets are sold? - ANSWERs-secured creditors A visual representation of a company's employees and management, and their lines of authority is known as.... - ANSWERs-an organization chart 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... - ANSWERs-joint venture One way to maximize personal and professional output is by effective use of a(n).. - ANSWERs-day planner Computers do not make decisions for managers but instead are most useful as... - ANSWERs-a tool for storing and manipulating data Employees who launch and manage a new business venture independently are called... - ANSWERs-entrepreneurs Which of the following terms is used to describe the standards that govern business behavior? - ANSWERs-business ethics A society's beliefs, attitudes, values, and behavior is called its - ANSWERs-cultures 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... - ANSWERs-whistle blowers Businesses that fail to take responsibility for product safety may face... - ANSWERscostly lawsuits government actions negative publicity Which act, passed in 1970, was designed to improve the safety record of businesses? - ANSWERs-the Occupational Safety and Health Act Which of the following is a value that a business brings into a community? - ANSWERs--generates tax revenue -Provides community involvement -increased employment Business' obligation to society is most often referred to as. - ANSWERs-social responsibility The contamination of the air, water, or land in which life exists is called... - ANSWERs-pollution Problems with product safety can occur when firms. - ANSWERs-fail to anticipate incorrect use. 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)... - ANSWERs-Union When employees want to drop the union as the bargaining agent for a group of workers, it is called... - ANSWERs-De-certification CAD is an abbreviation for... - ANSWERs-Computer Aided Design Which of the following factors should not be considered when selecting suppliers? - ANSWERs-Nepotism (buying from a family member or close friend) All of the following are problems associated with having too much inventory except... - ANSWERs-Risk of employee strike Which inventory method involves the counting of items to determine the number on hand? - ANSWERs-Physical inventory The process of ordering parts and materials to reach production as they are needed in order to reduce inventory levels is known as... - ANSWERs-just-in-time The controlling function of management involves - ANSWERs-Evaluating and possible revising previous decisions The first step in management, and perhaps the most important management function is: - ANSWERs-Planning Which of the following activities is not involved in the business decision making process? - ANSWERs-Pension In the long-term planning process, increased profits, growth, and market share are