Question 1

What is the division of a market into similar groups of customers?

Accepted Answer

A) Market management 
B) Market mix 
C) Market communications 
D) Market segmentation 
A) Market management 
B) Market mix 
C) Market communications 
D) Market segmentation D

Question 2

What is a means to conduct a periodic check on the company's financial health?

Accepted Answer

A) Internal rate of return (IRR) 
B) Return on investment (ROI) 
C) Cash flow analysis 
D) Break-even analysis 
A) Internal rate of return (IRR) 
B) Return on investment (ROI) 
C) Cash flow analysis 
D) Break-even analysis C

Question 3

Which of the following is not a type of business?

Accepted Answer

A) Sole partnership 
B) Partnership 
C) Limited partnership 
D) Corporation 
A) Sole partnership 
B) Partnership 
C) Limited partnership 
D) Corporation A

Question 4

A loss occurs when businesses sell products or services for less than they cost to produce.

Accepted Answer

A) True 
 B)False

Question 5

Define business process reengineering and explain how an organization can use IT to transform its business.

Accepted Answer

A business process is a standardized set

Question 6

What occurs when businesses sell products or services for more than they cost to produce?

Accepted Answer

A) Expense 
B) Profit 
C) Loss 
D) Revenue 
A) Expense 
B) Profit 
C) Loss 
D) Revenue

Question 7

Describe a transaction and its importance to the accounting department.

Accepted Answer

All businesses operate using the same ba

Question 8

What analyzes the transactional information of the business so the owners and investors can make sound economic decisions?

Accepted Answer

A) Accounting 
B) Bookkeeping 
C) Financial Accounting 
D) Managerial Accounting 
A) Accounting 
B) Bookkeeping 
C) Financial Accounting 
D) Managerial Accounting

Question 9

Which of the following is not accomplished by human resources management?

Accepted Answer

A) Employee recruitment 
B) Employee training 
C) Employee vacation scheduling 
D) Employee appraisals 
A) Employee recruitment 
B) Employee training 
C) Employee vacation scheduling 
D) Employee appraisals

Question 10

For-profit corporations primarily focus on making money and all profits and losses are shared by the business owners.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is not a reason to increase market share?

Accepted Answer

A) Economies of scale 
B) Reputation 
C) Increased bargaining power 
D) Nearing production capacity 
A) Economies of scale 
B) Reputation 
C) Increased bargaining power 
D) Nearing production capacity

Question 12

What is information technology?

Accepted Answer

A) A field concerned with the use of technology in managing and processing information. 
B) The function of selling a good or service and focuses on increasing customer sales, which increases company revenues. 
C) The function that plans for, develops, implements, and maintains IT hardware, software, and the portfolio of applications that people use to support the goals of an organization. 
D) Includes the methods, tasks, and techniques organizations use to produce goods and services. 
A) A field concerned with the use of technology in managing and processing information. 
B) The function of selling a good or service and focuses on increasing customer sales, which increases company revenues. 
C) The function that plans for, develops, implements, and maintains IT hardware, software, and the portfolio of applications that people use to support the goals of an organization. 
D) Includes the methods, tasks, and techniques organizations use to produce goods and services.

Question 13

What is the point at which revenues equal costs?

Accepted Answer

A) Break-even point 
B) Cash flow analysis 
C) ROI 
D) IRR 
A) Break-even point 
B) Cash flow analysis 
C) ROI 
D) IRR

Question 14

Which of the following represents psychographic segmentation?

Accepted Answer

A) Based on regional variables such as region, climate, population density, and population growth rate. 
B) Based on variables such as age, gender, ethnicity, education, occupation, income, and family status. 
C) Based on variables such as values, attitudes, and lifestyles. 
D) Based on variables such as usage rate, usage patterns, price sensitivity, and brand loyalty. 
A) Based on regional variables such as region, climate, population density, and population growth rate. 
B) Based on variables such as age, gender, ethnicity, education, occupation, income, and family status. 
C) Based on variables such as values, attitudes, and lifestyles. 
D) Based on variables such as usage rate, usage patterns, price sensitivity, and brand loyalty.

Question 15

What is the analysis and redesign of workflow within and between enterprises?

Accepted Answer

A) Business process 
B) Management information system 
C) Transaction 
D) Business process reengineering 
A) Business process 
B) Management information system 
C) Transaction 
D) Business process reengineering

Question 16

Partnership agreements typically include all of the following, except:

Accepted Answer

A) Expectations for sharing profits and losses. 
B) Partner's salary requirements. 
C) Methods for conflict resolution. 
D) Shareholder's expectations for a successful business. 
A) Expectations for sharing profits and losses. 
B) Partner's salary requirements. 
C) Methods for conflict resolution. 
D) Shareholder's expectations for a successful business.

Question 17

What is an asset?

Accepted Answer

A) A distribution of earnings to shareholders. 
B) Refers to the amount earned resulting from the delivery or manufacture of a product or from the rendering of a service. 
C) Refer to the costs incurred in operating and maintaining a business. 
D) Anything owned that has value or earning power. 
A) A distribution of earnings to shareholders. 
B) Refers to the amount earned resulting from the delivery or manufacture of a product or from the rendering of a service. 
C) Refer to the costs incurred in operating and maintaining a business. 
D) Anything owned that has value or earning power.

Question 18

Break-even analysis is the point at which revenues equal costs.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is not a part of the marketing mix?

Accepted Answer

A) Product 
B) Price 
C) Point 
D) Promotion 
A) Product 
B) Price 
C) Point 
D) Promotion

Question 20

What is a standardized set of activities that accomplishes a specific task, such as processing a customer's order?

Accepted Answer

A) Transaction 
B) Business process 
C) Expense 
D) Marketing 
A) Transaction 
B) Business process 
C) Expense 
D) Marketing

Exam 20: B: Extension: A Business Basics

What is the division of a market into similar groups of customers?

What is a means to conduct a periodic check on the company's financial health?

Which of the following is not a type of business?

A loss occurs when businesses sell products or services for less than they cost to produce.

Define business process reengineering and explain how an organization can use IT to transform its business.

What occurs when businesses sell products or services for more than they cost to produce?

Describe a transaction and its importance to the accounting department.

What analyzes the transactional information of the business so the owners and investors can make sound economic decisions?

Which of the following is not accomplished by human resources management?

For-profit corporations primarily focus on making money and all profits and losses are shared by the business owners.

Which of the following is not a reason to increase market share?

What is information technology?

What is the point at which revenues equal costs?

Which of the following represents psychographic segmentation?

What is the analysis and redesign of workflow within and between enterprises?

Partnership agreements typically include all of the following, except:

What is an asset?

Break-even analysis is the point at which revenues equal costs.

Which of the following is not a part of the marketing mix?

What is a standardized set of activities that accomplishes a specific task, such as processing a customer's order?

Business Driven Technology

Identifying Competitive Advantages

Strategic Initiatives for Implementing Competitive Advantages

Measuring the Success of Strategic Initiatives

Organizational Structures That Support Strategic Initiatives

Valuing and Storing Organizational Information Databases

Accessing Organizational Information Data Warehouses

Understanding Big Data and Its Impact on Business

Enabling the Organization Decision Making

Extending the Organization Supply Chain Management

Building a Customer-Centric Organization Customer Relationship Management

Integrating the Organization From End to End Enterprise Resource Planning

Creating Innovative Organizations

E-business

Creating Collaborative Partnerships

Integrating Wireless Technology in Business

Developing Software to Streamline Operations

Methodologies for Supporting Agile Organizations

Managing Organizational Projects

B: Extension: A Business Process

B: Extension: A Hardware and Software Basics

B: Extension: A Mis Infrastructures

B: Extension: A Networks and Telecommunications

B: Extension: A Information Security

B: Extension: A Ethics

B: Extension: A Operations Management

B: Extension: A Sustainable Mis Infrastructures

B: Extension: A Business Intelligence

B: Extension: A Global Information Systems

B: Extension: A Global Trends

Filters