Praxis II 0101/ 5101 Business Education
Exam Rated A+
3 ways the Fed carries out monetary policy - ANSWER-Open market operations,
discount rate, reserve requirements. To halt a recession - expands the money supply,
decrease inflation - limit spending by contracting the money supply.
4 main categories of employee rights - ANSWER-collective bargaining, working hours
and pay, workplace safety, discrimination in the workplace.
Absolute Cell reference in a spreadsheet - ANSWER-($B$1*B5) the dollar sign; $; in
front of both the row and column reference changes the reference to an ABSOLUTE
reference as opposed to a relative referece
Access - ANSWER-A Microsoft application used to create a database.
Access - ANSWER-A Microsoft application used to create a database.
Accounting Cycle - ANSWER-activities performed in an accounting period that help the
business keep its records in an orderly fashion.
Accounting Process - ANSWER-Analyzing, Recording, Classifying, Summarizing,
Reporting and Interpreting.
Accounts Payable - ANSWER-Materials purchased on account - increasing assets and
increasing Accounts Payable Liability
Accounts Receivable - ANSWER-Asset
Actual costs and sales - ANSWER-Basis of accounting; the exception is depreciation.
adapter card - ANSWER-A card used by the CPU to communicate with devices inside
and outside the case.
Administration - ANSWER-..., the management of any office, business, or organization;
direction.
Advantages of Corporations - ANSWER-ownership of corporations is easily transferable
and it rarely has any effect on the daily operations of the business.
Advertising - ANSWER-..., the business of drawing public attention to goods and
services
,Age Discrimination in Employment Act of 1967 - ANSWER-Applies to businesses with
20 or more employees working at least 20 weeks of the year. Prohibits discrimination in
hiring or firing based on age, for persons aged 40 or older.
Algorithm - ANSWER-a precise rule or set of rules specifying how to solve some
problem
American Vocational Association - ANSWER-The Business Education Division of ACTE
is a diverse, broad-based group dedicated to educating today's students for tomorrow's
business community. The skills taught in business education programs include
keyboarding, database management, office management, accounting, and
communications.
Americans with Disabilities Act (ADA) - ANSWER-1992, Protects rights of disabled
individuals in employment and public accommodation; requires reasonable
accommodation that enable disabled persons to work with dignity
application - ANSWER-Productivity software such as MS Office.
application letter - ANSWER-functions like a cover letter and goes along with your
resume
Applications for employment - ANSWER-Application forms cannot inquire about age,
marital status, arrest records, gender, religion, citizenship or nationality.
applied research - ANSWER-scientific study that aims to solve practical problems
appreciation - ANSWER-an increase in price or value
Authentication - ANSWER-determining that users are who they claim to be
Authorization - ANSWER-ensuring that users have permission to perform a particular
action.
Balance of Trade - ANSWER-difference between the value of nation's exports and
imports.
balance sheet - ANSWER-a record of the financial situation of an institution on a
particular date by listing its assets and the claims against those assets
Balance sheet - ANSWER-a record of the financial situation of an institution on a
particular date by listing its assets and the claims against those assets
Balance sheets - ANSWER-the accounting statement that describes the relationship
between assets on the left side and claims against those assets on the right.
,bank acceptances - ANSWER-A time draft drawn on, and accepted by, a bank. They
are limited to 6 months in the US. They may be kept to maturity or sold.
Bank Note - ANSWER-a piece of paper money especially one issued by a central bank
Bankruptcy - ANSWER-a legal process intended to insure equality among the creditors
of a corporation declared in bankruptcy
Basic equation of accounting - ANSWER-Assets = sum of liabilities and capital.
Total Value of ownership = assets less liabilities
Basic Organization Structure - ANSWER-function, product, market, customer, location.
Division of labor, structure for making decisions. Goal: Maintain efficiency in business.
basic research - ANSWER-Pure science that aims to increase the scientific knowledge
base
Bear market - ANSWER-Stock market that experiences a general decline in prices of
stock. Not all stocks experience a decline in value, but most do.
behavioral questions ask... - ANSWER-on specific past situations and how you did
handle them
Better Business Bureau (BBB) - ANSWER-One of the oldest nonprofit organizations
that establishes self-regulation among businesses.
bilateral contract - ANSWER-a type of contract that arises when a promise is given in
exchange for a return promise
binary number system - ANSWER-The number system used by computers; it has only
two numbers, 0 and 1, called binary digits, or bits.
BIOS setup bit - ANSWER-Used to change some settings on the motherboard.
BIOS; basic input/output system - ANSWER-Firmware that can control much of a
computer's input/output functions, such as communication with the floppy drive and the
monitor. Also called ROM BIOS.
bit - ANSWER-A bit is a binary digit; either 0 or 1 used by the binary number system.
Bloom's Taxonomy - ANSWER-There are six categories of cognitive objectives
organized by complexity: Knowledge, Comprehension, Application, Analysis, Synthesis,
Evaluation.
Board of directors - ANSWER-selects upper level management including the CEO and
supervises strategy and financial objectives.
, Booting - ANSWER-The remainder of the operating system is loaded into memory in
this process.
Brand - ANSWER-name, symbol, or design used to identify a product.
Brand Loyalty - ANSWER-a favorable attitude toward and consistent purchase of a
single brand over time
Brokerage Houses - ANSWER-Employ market analysts to research firms to find
strengths and weaknesses of businesses looking for financial investors. Almost all
investment banks operate as brokers. Charge a commission on purchases and sales.
browser - ANSWER-software application used to locate and display web pages
Bull market - ANSWER-Stock market experiences a general rise in prices and stock
trading volume for shares over a period of time.
bus - ANSWER-The paths, or lines, on the motherboard on which data, instructions,
and electrical power move from component to component.
business letters, email & memos, short paragraphs should be how many lines? -
ANSWER-four to five
Business Objectives - ANSWER-goals or end points to where the business is aiming.
Business planning - ANSWER-assess the business' current status, anticipate trends in
the market and consider the financial implications of proposed plans. Planning is
impossible without good records from the acctg department.
Business Policies - ANSWER-statements of purpose that will define the way a business
goes about achieving its goals. A successful set of policies set limits to business activity
and encourage initiative.
Business procedures - ANSWER-must be clear and specify exactly how future actions
should be performed.
business reports should be how many lines? - ANSWER-six to seven
Business rules and programs - ANSWER-things that employees are either required to
do or are forbidden from doing.
Business strategies - ANSWER-Overall plans that take into consideration such external
factors as trends in the marketplace or actions of the competitors. Course of action.
Exam Rated A+
3 ways the Fed carries out monetary policy - ANSWER-Open market operations,
discount rate, reserve requirements. To halt a recession - expands the money supply,
decrease inflation - limit spending by contracting the money supply.
4 main categories of employee rights - ANSWER-collective bargaining, working hours
and pay, workplace safety, discrimination in the workplace.
Absolute Cell reference in a spreadsheet - ANSWER-($B$1*B5) the dollar sign; $; in
front of both the row and column reference changes the reference to an ABSOLUTE
reference as opposed to a relative referece
Access - ANSWER-A Microsoft application used to create a database.
Access - ANSWER-A Microsoft application used to create a database.
Accounting Cycle - ANSWER-activities performed in an accounting period that help the
business keep its records in an orderly fashion.
Accounting Process - ANSWER-Analyzing, Recording, Classifying, Summarizing,
Reporting and Interpreting.
Accounts Payable - ANSWER-Materials purchased on account - increasing assets and
increasing Accounts Payable Liability
Accounts Receivable - ANSWER-Asset
Actual costs and sales - ANSWER-Basis of accounting; the exception is depreciation.
adapter card - ANSWER-A card used by the CPU to communicate with devices inside
and outside the case.
Administration - ANSWER-..., the management of any office, business, or organization;
direction.
Advantages of Corporations - ANSWER-ownership of corporations is easily transferable
and it rarely has any effect on the daily operations of the business.
Advertising - ANSWER-..., the business of drawing public attention to goods and
services
,Age Discrimination in Employment Act of 1967 - ANSWER-Applies to businesses with
20 or more employees working at least 20 weeks of the year. Prohibits discrimination in
hiring or firing based on age, for persons aged 40 or older.
Algorithm - ANSWER-a precise rule or set of rules specifying how to solve some
problem
American Vocational Association - ANSWER-The Business Education Division of ACTE
is a diverse, broad-based group dedicated to educating today's students for tomorrow's
business community. The skills taught in business education programs include
keyboarding, database management, office management, accounting, and
communications.
Americans with Disabilities Act (ADA) - ANSWER-1992, Protects rights of disabled
individuals in employment and public accommodation; requires reasonable
accommodation that enable disabled persons to work with dignity
application - ANSWER-Productivity software such as MS Office.
application letter - ANSWER-functions like a cover letter and goes along with your
resume
Applications for employment - ANSWER-Application forms cannot inquire about age,
marital status, arrest records, gender, religion, citizenship or nationality.
applied research - ANSWER-scientific study that aims to solve practical problems
appreciation - ANSWER-an increase in price or value
Authentication - ANSWER-determining that users are who they claim to be
Authorization - ANSWER-ensuring that users have permission to perform a particular
action.
Balance of Trade - ANSWER-difference between the value of nation's exports and
imports.
balance sheet - ANSWER-a record of the financial situation of an institution on a
particular date by listing its assets and the claims against those assets
Balance sheet - ANSWER-a record of the financial situation of an institution on a
particular date by listing its assets and the claims against those assets
Balance sheets - ANSWER-the accounting statement that describes the relationship
between assets on the left side and claims against those assets on the right.
,bank acceptances - ANSWER-A time draft drawn on, and accepted by, a bank. They
are limited to 6 months in the US. They may be kept to maturity or sold.
Bank Note - ANSWER-a piece of paper money especially one issued by a central bank
Bankruptcy - ANSWER-a legal process intended to insure equality among the creditors
of a corporation declared in bankruptcy
Basic equation of accounting - ANSWER-Assets = sum of liabilities and capital.
Total Value of ownership = assets less liabilities
Basic Organization Structure - ANSWER-function, product, market, customer, location.
Division of labor, structure for making decisions. Goal: Maintain efficiency in business.
basic research - ANSWER-Pure science that aims to increase the scientific knowledge
base
Bear market - ANSWER-Stock market that experiences a general decline in prices of
stock. Not all stocks experience a decline in value, but most do.
behavioral questions ask... - ANSWER-on specific past situations and how you did
handle them
Better Business Bureau (BBB) - ANSWER-One of the oldest nonprofit organizations
that establishes self-regulation among businesses.
bilateral contract - ANSWER-a type of contract that arises when a promise is given in
exchange for a return promise
binary number system - ANSWER-The number system used by computers; it has only
two numbers, 0 and 1, called binary digits, or bits.
BIOS setup bit - ANSWER-Used to change some settings on the motherboard.
BIOS; basic input/output system - ANSWER-Firmware that can control much of a
computer's input/output functions, such as communication with the floppy drive and the
monitor. Also called ROM BIOS.
bit - ANSWER-A bit is a binary digit; either 0 or 1 used by the binary number system.
Bloom's Taxonomy - ANSWER-There are six categories of cognitive objectives
organized by complexity: Knowledge, Comprehension, Application, Analysis, Synthesis,
Evaluation.
Board of directors - ANSWER-selects upper level management including the CEO and
supervises strategy and financial objectives.
, Booting - ANSWER-The remainder of the operating system is loaded into memory in
this process.
Brand - ANSWER-name, symbol, or design used to identify a product.
Brand Loyalty - ANSWER-a favorable attitude toward and consistent purchase of a
single brand over time
Brokerage Houses - ANSWER-Employ market analysts to research firms to find
strengths and weaknesses of businesses looking for financial investors. Almost all
investment banks operate as brokers. Charge a commission on purchases and sales.
browser - ANSWER-software application used to locate and display web pages
Bull market - ANSWER-Stock market experiences a general rise in prices and stock
trading volume for shares over a period of time.
bus - ANSWER-The paths, or lines, on the motherboard on which data, instructions,
and electrical power move from component to component.
business letters, email & memos, short paragraphs should be how many lines? -
ANSWER-four to five
Business Objectives - ANSWER-goals or end points to where the business is aiming.
Business planning - ANSWER-assess the business' current status, anticipate trends in
the market and consider the financial implications of proposed plans. Planning is
impossible without good records from the acctg department.
Business Policies - ANSWER-statements of purpose that will define the way a business
goes about achieving its goals. A successful set of policies set limits to business activity
and encourage initiative.
Business procedures - ANSWER-must be clear and specify exactly how future actions
should be performed.
business reports should be how many lines? - ANSWER-six to seven
Business rules and programs - ANSWER-things that employees are either required to
do or are forbidden from doing.
Business strategies - ANSWER-Overall plans that take into consideration such external
factors as trends in the marketplace or actions of the competitors. Course of action.
