Business Management Certification Exam Questions With Correct Answers

Which government agency oversees discrimination in the workplace? - Answer Equal Employment Opportunity Commission (EEOC) Which department is responsible for hiring, staffing, training, and evaluating an organization's personnel? - Answer Human Resources What market strategy uses skimming, penetration, or cost-based methods? - Answer Price Which market strategy uses advertising, personal selling, or publicity methods? - Answer Promotion What does revenue minus expenses equal? - Answer Gross Income Which term describes a set of moral principles or values that govern behavior? - Answer Ethics Which term is used when evaluating the level of production at which total revenues from sales equals total expenses incurred? - Answer Break Even Point Which TWO questions are legal during a job interview? - Answer Are you married? How old are you? What is the written explanation of a company's reason for existence? - Answer Mission statement Place the decision-making steps in the correct order from beginning to the end - Answer Recognize the problem Identify possible alternatives Select and implement the best alternative Evaluate the results What type of plan is a long-range goal that affects many parts of an organization? - Answer Strategic Which financial statement shows revenue, expenses, and profit or loss of a business for a particular period of time? - Answer Income statement Asset - Answer Anything of value that is owned Owner's equity - Answer Financial rights to the assets of a business Liability - Answer Amount owed to a creditor What is the economic term when Gross Domestic Product (GDP) declines for two consecutive quarters? - Answer Recession What is the practice of working at home, while traveling and being able to interact with the office? - Answer Telecommunicating