Business Management and Administration Cluster Exam Questions and Answers (Graded A+)

1. Which of the following statements would be placed in the introductory section of a research report: - ANSWER-Answer: B. The purpose of this study is to determine why sales have been decreasing for three consecutive quarters. ** 2. Which of the following is a non-price issue that a business might negotiate with a vendor when purchasing expensive, complex equipment: - ANSWER-Answer: A. Post-sale service ** 3. One of the most common reasons why a defendant may choose to settle a legal dispute out of court is to - ANSWER-Answer: D. avoid the high costs of going to trial. ** 4. When combined, which costs equal all of the expenses incurred by a company? - ANSWER-Answer: B. Overhead and direct costs ** 5. Which of the following is an accurate way of describing someone with emotional intelligence: - ANSWER-Answer: C. A person who recognizes and manages emotions ** 6. A staff meeting was held to discuss some problems the business was having. Management did not need to stress the seriousness of the problems, as it was conveyed in their voices. Which speech element was management using to convey its message? - ANSWER-Answer: A. Tone 7. Paul is responding to an inquiry he received in the mail. His response includes some good news and some bad news. How should he structure his response in light of the bad news? - ANSWER-Answer: C. Place the good news at the beginning and the bad news in secondary position(s). ** 8. Employers promote employees who have shown that they are reliable, trustworthy, and - ANSWER-Answer: A. competent. ** 9. Andy presents his idea for restructuring his company to the board of directors. In which stage of the change-management lifecycle is Andy? - ANSWER-Answer: A. Review and authorize ** 10. By developing a personal budget, individuals will be able to review their - ANSWER-Answer: D. spending patterns. ** 11. A standard purchase order should include product specifications, quantities, prices, and what else? - ANSWER-Answer: C. Shipping requirements 12. An accounts receivable employee monitors delinquent accounts by placing them into three folders--30 days past due, 60 days past due, and 90 days past due. How has the employee organized the information? - ANSWER-Answer: D. Time 13. A company wants to know how to better advertise to specific segments of customers, so it groups its customer data based on their incomes. This company is using the __________ method of data mining. - ANSWER-Answer: B. clustering 14. Determining your personal net worth means finding out how much money you would have if you - ANSWER-Answer: A. sold all of your assets and paid off all your debts. ** 15. A business that looks for ways to turn a risk into a strategic advantage would be considered an organization that is - ANSWER-Answer: B. risk-seeking. ** 16. To protect yourself against identity theft, you should - ANSWER-Answer: D. avoid providing sensitive information via telephone. 17. How do ethics relate to risk management? - ANSWER-Answer: D. The best form of risk management is adherence to business ethics. 18. What should project managers do to ensure that team members will perform their designated tasks efficiently? - ANSWER-Answer: B. Ask team members if they like their assignments C. Communicate their roles and responsibilities to them 19. Employees who have supervisory responsibilities for part or all of the business work in - ANSWER-Answer: B. general management. 20. Using appropriate software to protect confidential data that are stored on a company's computer systems is an important part of managing - ANSWER-Answer: C. security risks. 21. When a business analyst is finished working on a project, s/he should then - ANSWER-Answer: C. evaluate the effectiveness of the project's solutions. 22. Which of the following is a basic belief that you must have so you can start to be assertive: - ANSWER-Answer: C. Your thoughts, feelings, ideas, and opinions are important. ** 23. Who is responsible for information management? - ANSWER-Answer: B. Everyone in the organization ** 24. Which of the following statements is true about the Six Sigma quality management framework: - ANSWER-Answer: D. It involves change throughout the entire organization. 25. Which of the following is a project-management software application that duplicates the project database and enables project managers to evaluate potential changes to the project plan and assess "what if" scenarios: - ANSWER-Answer: B. Test environment 26. According to a company's most recent statement of cash flows, its cash flow from operations for the most recent year was $1,375,400. The net cash used by investing was an outlay of $690,000. The net cash spent on financing was $140,300. What was the company's free cash flow? - ANSWER-Answer: B. $545,100 27. One of the biggest barriers that separates countries/regions is - ANSWER-Answer: D. language. * 28. Conflicting viewpoints at work can lead to - ANSWER-Answer: A. increased creativity. ** 29. When executing a