Question 1

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

Question 2

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 3

Operations management is the management of systems or processes that converts or transforms ___________ into goods and services.

Accepted Answer

The answer of Operations management is the management of systems...

Question 4

What is a hybrid entity that has the legal protections of a corporation and the ability to be taxed (one time)as a partnership?

Accepted Answer

A)  Limited partnership 
B)  Limited liability corporation 
C)  Limited proprietorship 
D)  Limited shareholder 
A)  Limited partnership 
B)  Limited liability corporation 
C)  Limited proprietorship 
D)  Limited shareholder

Question 5

Which form of business recommends a legal agreement between two or more business partners that outlines core business issues?

Accepted Answer

A)  Sole proprietorship 
B)  Partnership 
C)  Corporation 
D)  LLC 
A)  Sole proprietorship 
B)  Partnership 
C)  Corporation 
D)  LLC

Question 6

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 7

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 8

A limited _______________ is much like a general partnership except for one important fundamental difference; the law protects the limited partner from being responsible for all of the partnership's losses.

Accepted Answer

The answer of A limited _______________ is much like a...

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

What is operations management?

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)  The management of systems or processes that convert or transform resources into 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)  The management of systems or processes that convert or transform resources into goods and services

Question 11

Which of the following represents geographic 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 12

Identify the four primary financial statements used by most organizations.

Accepted Answer

Balance sheet.- The balance sheet gives

Question 13

What is the rate at which the net present value of an investment equals zero?

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

Exam 21: Business Basics

Which of the following is not a type of business?

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

Operations management is the management of systems or processes that converts or transforms ___________ into goods and services.

What is a hybrid entity that has the legal protections of a corporation and the ability to be taxed (one time)as a partnership?

Which form of business recommends a legal agreement between two or more business partners that outlines core business issues?

What is information technology?

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

A limited _______________ is much like a general partnership except for one important fundamental difference; the law protects the limited partner from being responsible for all of the partnership's losses.

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

What is operations management?

Which of the following represents geographic segmentation?

Identify the four primary financial statements used by most organizations.

What is the rate at which the net present value of an investment equals zero?

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 Organizational Information

Storing Organizational Information-Databases

Accessing Organizational Information-Data Warehouse

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

Ebusiness

Creating Collaborative Partnerships

Integrating Wireless Technology in Business

Developing Software to Streamline Operations

Methodologies for Supporting Agile Organizations

Managing Organizational Projects

Developing a 21st-Century Organization

Business Process

Hardware and Software Basics

Mis Infrastructures

Networks and Telecommunications

Information Security

Ethics

Operations Management

Sustainable Mis Infrastructures

Business Intelligence

Global Information Systems

Global Trends

Filters