Business Management FBLA Quizzes Questions and Answers

Business Management FBLA Quizzes Questions and Answers Only large companies with several employees need managers. False A good manager may occasionally make a decision contrary to generally accepted principles of management. True Senior managers of very large corporations don't want their middle managers to think like entrepreneurs. False 4. Forepersons, crew leaders, and store managers are all examples of _____ managers. A. middle B. supervisory C. senior D. beginning B. Supervisory 5. A sole proprietorship is a business owned by _____. A. one company B. relatives C. one person D. the bank C. One Person 6. _____ percent of the businesses in the United States are small businesses. A. 45 B. 67 C. 90 D. 98 D. 98 7. Conceptual Skills A. Negotiating salaries with workers B. Taking inventory of merchandise in a store C. Deciding how to invest company profits C. Deciding how to invest company profits 8. Human Relations Skills A. Negotiating salaries with workers B. Taking inventory of merchandise in a store C. Deciding how to invest company profits A. Negotiating salaries with workers 9. Technical Skills A. Negotiating salaries with workers B. Taking inventory of merchandise in a store C. Deciding how to invest company profits B. Taking inventory of merchandise in a store Taylor thought that explaining the principles of scientific management would only confuse workers. False 2. Centralization always makes a company's management stronger. False 3. In general, Theory Y managers give their employees the freedom to make creative decisions. True 4. In the United States, the Industrial Revolution began in approximately _____. A. 1960 B. 1789 C. 1900 D. 1860 1860 5. A _____ occurs when one party maintains total control over a type of industry. A. takeover B. landslide C. monopoly D. hierarchy of needs C. monopoly 6. Consider quality as well as price in awarding business is a principle of _____. A. total quality management B. Maslow's hierarchy of needs C. scientific management D. the Hawthorne effect A. total quality management 7. Theory X A. Assumes that employees will work best when given some collective decision making power and some emphasis on personal responsibility. B. Assumes that people need strict rules in order to perform well. C. Assumes that people will perform well if they are put in the right environment. B. Assumes that people need strict rules in order to perform well. 8. Theory Y A. Assumes that employees will work best when given some collective decision making power and some emphasis on personal responsibility. B. Assumes that people need strict rules in order to perform well. C. Assumes that people will perform well if they are put in the right environment. C. Assumes that people will perform well if they are put in the right environment. 9. Theory Z A. Assumes that employees will work best when given some collective decision making power and some emphasis on personal responsibility. B. Assumes that people need strict rules in order to perform well. C. Assumes that people will perform well if they are put in the right environment. A. Assumes that employees will work best when given some collective decision making power and some emphasis on personal responsibility. 10. According to Maslow, which need would a worker fill first? A. need to earn enough money B. need for a safe work environment C. needs are at the same level D. depends on the personality of the worker A. need to earn enough money 1. The activities you enjoy today are important to consider when choosing your future career. True 2. Professional associations are too specialized to be very helpful to a beginner deciding on a future career. False A young person without a long job history might benefit from using a skills résumé. True 4. _____ show changes or movement in a certain area. A. Values B. Learning styles C. Networks D. Trends D. Trends A job applicant should always include a _____ when sending a résumé to a potential employer. A. self-addressed-stamped-envelope B. fax number C. cover letter D. reply deadline C. cover letter 6. Responsibility, achievement, recognition, relationship, compassion, and courage are examples of _____. A. learning styles B. personalities C. values D. lifestyles C. values 7. Bodily/Kinesthetic A. Learns best by making categories, classifying, and working with patterns. B. Learns best by observing, collecting, identifying, and organizing patterns. C. Learns best by interacting with people and objects in real space. C. Learns best by interacting with people and objects in real space. 8. Naturalistic A. Learns best by making categories, classifying, and working with patterns. B. Learns best by observing, collecting, identifying, and organizing patterns. C. Learns best by interacting with people and objects in real space. B. Learns best by observing, collecting, identifying, and organizing patterns. 9. Logical/Mathematical A. Learns best by making categories, classifying, and working with patterns. B. Learns best by observing, collecting, identifying, and organizing patterns. C. Learns best by interacting with people and objects in real space. A. Learns best by making categories, classifying, and working with patterns. What are some examples of nonprofit organizations? A. The Girl Scouts B. The Museum of Tolerance C. The Sierra Club D. All of the above D. All of the above A business code of ethics is a set of unspoken guidelines about proper behavior in the workplace. False Pricing, billing, and contracting practices are areas generally covered by a code of ethics. True Performing a social audit can only hurt a company's reputation. False A person faces _____ when it is not easy to decide what the correct course of action should be. A. dismissal B. an ethical dilemma C. a code of ethics D. a lawsuit B. an ethical dilemma False advertising is prohibited by the _____ act. A. Wheeler-Lea B. Sherman C. Clayton D. Food, Drug, and Cosmetic A. Wheeler-Lea The National Environmental Policy Act created the _____ in 1969. A. FDA B. EPA C. FCC D. none of the above B. EPA Profit Maximization A. Businesses have obligations to stakeholders. B. Social issues are not the concern of businesses. C. Businesses have obligations to their employees, creditors, and customers. B. Social issues are not the concern of businesses. Social Involvement A. Businesses have obligations to stakeholders. B. Social issues are not the concern of businesses. C. Businesses have obligations to their employees, creditors, and customers. A. Businesses have obligations to stakeholders. Trusteeship Management A. Businesses have obligations to stakeholders. B. Social issues are not the concern of businesses. C. Businesses have obligations to their employees, creditors, and customers. C. Businesses have obligations to their employees, creditors, and customers. How can businesses support their employees' involvement in charitable organizations? A. give time off to employees for volunteering B. match employee donations to charitable causes C. both D. neither C. both The Uniform Commercial Code was established to protect consumers from mislabeled and impure foods, drugs, and cosmetics. False Equal Opportunity Employment laws prohibit employment discrimination on the basis of religious affiliation True Unemployment insurance only covers workers who have been at a job for a certain length of time True The law regulating how two or more people can set up a partnership is called the _____. A. Wheeler-Lea Act B. Corporate Partnership Act C. Uniform Partnership Act D. Sole Proprietor Act C. Uniform Partnership Act A patent gives an inventor and company exclusive rights to make, use, and sell their inventions for ___ years. A. 100 B. 25 C. 7 D. 17 D. 17 The National Labor Relations Act regulates the relationship between businesses and _____. A. unions B. the government C. the IRS D. employment agencies A. unions Consumer Law A. Regulates how businesses can set themselves up to operate as companies. B. Protects individuals against business activities that might be harmful to them. C. Regulates how businesses enter into contracts with other businesses and consumers. B. Protects individuals against business activities that might be harmful to them. Commercial Law A. Regulates how businesses can set themselves up to operate as companies. B. Protects individuals against business activities that might be harmful to them. C. Regulates how businesses enter into contracts with other businesses and consumers. C. Regulates how businesses enter into contracts with other businesses and consumers. Corporate Law A. Regulates how businesses can set themselves up to operate as companies. B. Protects individuals against business activities that might be harmful to them. C. Regulates how businesses enter into contracts with other businesses and consumers. A. Regulates how businesses can set themselves up to operate as companies. What do zoning laws regulate? A. Whether a business can be a partnership, sole proprietorship, or corporation. B. The areas of a city or municipality where a business can be located. C. Commerce between states. D. The sale of liquor and tobacco to minors. B. The areas of a city or municipality where a business can be located. When the price of a product goes down, companies are less willing to supply more of the product. True Payroll is an example of a fixed cost. False Managers tend to pay special attention to leading economic indicators when making decisions about the future of the company. True _____ are determined by subtracting revenues from costs. A. Losses B. Taxes C. Profits D. Prices C. Profits The price at which supply equals demand is called the _____. A. coincident index B. equilibrium price C. market price D. value price B. equilibrium price The _____ describes the expansion and contraction of many industries at once. A. economy B. recession C. leading index D. business cycle D. business cycle Depression A. Many workers are laid off and wages and benefits are less than desirable. B. Some workers are laid off as businesses cut production. C. Unemployment is low and wages are competitive. A. Many workers are laid off and wages and benefits are less than desirable.