Quiz questions to Review for Exam
2
1)
The De Anza Bookstore
is a(n):
A)
merchant wholesaler.
B)
retailer.
C) rack jobber.
D) channel
captain
2)
The primary difference
between retailers and wholesalers is that:
A)
retailers sell consumer goods,
while wholesalers sell industrial goods.
B)
retailers operate in local
areas, while wholesalers operate over a wide geographic area.
C) retailers sell to final
consumers, while wholesalers sell to other organizations.
D) retailers get a commission,
while wholesalers don’t.
3)
Those organizations
that assist in the movement of goods and services from producer to customers
are:
A)
directed marketers.
B)
distributive specialists.
C) marketing intermediaries.
D) supplementary marketers.
4)
Operations management
refers to activities managers perform to help their firms produce:
A)
technical services.
B)
goods, rather than
services.
C) both goods and services.
D) financial data.
5)
__________ is the
process of selecting a geographic location for a company's operations.
A)
Localization analysis
B)
Facility location
C) Economic geography
D) Geographic appraisal
6)
________ examine the
data prepared by ________ and then make recommendations to top management
regarding strategies for improving the firm.
A)
Accountants; financial
managers
B)
Accountants; bankers
C)
Financial managers;
accountants
D)
Financial managers;
bankers
7)
All of the following
are primary areas of concern for financial managers except:
A)
under-capitalization.
B)
inability to recruit qualified
workers.
C)
poor control over cash
flow.
D)
inadequate expense control.
8)
Acquiring funds
through borrowing represents:
A)
debt financing.
B)
venture capital.
C)
speculative capital.
D)
equity financing.
9)
Long-term financing
would normally be used to purchase:
A)
supplies.
B)
inventory.
C)
buildings.
D)
highly liquid assets.
10)
Equity financing comes
from the ________ of the firm.
A)
creditors
B)
employees
C)
suppliers
D)
owners
11)
The ___________ is the
most common form of business ownership.
A) partnership.
B) corporation.
C) joint venture.
D) sole
proprietorship
12)
Any debts or damages
incurred by a firm organized as a sole proprietorship are:
A) the sole responsibility of the owner.
B) limited to the amount the owner has invested in the firm.
C) paid for out of a reserve contingency fund that sole
proprietors are required by law to set up.
D) normally covered by liability insurance.
13)
The limited liability
provided to limited partners means that they are not responsible for the debts
of the business beyond:
A) the firm's total assets.
B) the amount they have invested in the company.
C) the percentage of profits they are entitled to earn.
D) their total personal assets.
14)
The form of business
ownership that is best suited to raising large amounts of money for expansion is
the:
A) sole proprietorship.
B) partnership.
C) corporation.
D) cooperative.
15)
A ____________ is the
share of profits or percentage of sales a franchisee pays to a franchisor.
A) royalty
B) dividend
C) premium
D) co-pay
16)
____________ is the
management function that involves determining whether an organization is
progressing toward its goals, rewarding employees for doing a good job, and
taking corrective action when they are not.
A) Organizing
B) Controlling
C) Leading
D) Officiating
17)
Which of the following
would be a concern addressed in a strategic plan?
A) Should the firm make
a long-term commitment to expand into new markets?
B) Which specific jobs
to assign to each employee.
C) How much output
should be produced this week in a given production facility?
D) Which software
package should the firm use to manage the payroll?
18)
A(n) ________________ is
a visual device which shows relationships among people and divides the firm’s
work.
A) organization chart
B) Venn diagram
C) corporate tree
D) Gantt chart
19)
Which of the following
statements about leadership styles is most accurate?
A) A manager should
choose one style and use it consistently.
B) Managers have no
control over the leadership style they use.
C) Effective managers
often use a variety of leadership styles.
D) Managers should
always start with an autocratic style, but can gradually switch to a more
democratic approach if workers earn their trust.
20)
Which of the following
statements comparing today’s workers with those from earlier eras is most
accurate? Compared to earlier workers, today’s employees are:
A) more loyal to the firm.
B) less educated and less self-directed.
C) more willing to leave the firm to seek better opportunities.
D) more likely to need direct guidance and direction from their
managers.
Key:
Quiz
4
1)
B
2)
C
3)
C
4)
C
5)
B
Quiz
5
6)
C
7)
B
8)
A
9)
C
10)
D
Quiz
6
11)
D
12)
A
13)
B
14)
C
15)
A
Quiz
7
16)
B
17)
A
18)
A
19)
C
20)
C