3/28/2024


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Total Questions 45
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Course # 371006
Basic Business Essentials: Concepts and Tools
based on the electronic .pdf file(s):

Basic Business Essentials: Concepts and Tools
by: Dr. Jae K. Shim, Ph.D., 2014, 174 pages


9 CPE Credit Hours
Technology & Operations

A P E X C P E . C O M  . . . . .  1.877.317.9047  . . . . .  support@apexcpe.com


Chapter 1 - The Economic Base Of Business

1.    _________________ is NOT a scarce resource:   
Entrepreneurship
Risk
Capital
Labor
2.    Under pure capitalism, individuals can NOT possess:   
Freedom to own property
Freedom of choice
Freedom of liability
Freedom to determine their own personal goals


Chapter 2 - Legal Structure

3.    Types of business do NOT include   
Institutions
Sole proprietorship
Corporations
Partnerships
4.    A corporate charter does NOT indicate:   
Corporate title
Name of the state granting the charter
Descriptive statement of purpose of the corporation
Transaction processes


Chapter 3 - Labor Relations

5.    _______________ is NOT a management function:   
Modeling
Controlling
Organizing
Planning
6.    Authority relates to   
Staffing
Decision-making
Directing
Performing


Chapter 4 - Plant Location

7.    Corporate psychological needs do NOT include:   
Creativity
Achieved status
Ascribed status
Prestige
8.    Types of leadership include:   
Administrative
Authoritative
Popular
Direct


Chapter 5 - Management Information System

9.    Individual goals are basically, all EXCEPT:   
Standardization
Recognition and worth of the individual
Dignity in work
Job security
10.    Types of strikes do NOT include:   
Jurisdictional strike
Sympathy strike
Mortal strike
Wildcat strike
11.    Which one of the following is NOT labor legislation?   
Civil Disobedience Act
Taft-Hartley Act
Norris-La Guardian Act
Fair Labor Standards Act


Chapter 6 - The Financial Markets

12.    The production process can be divided into the following functions EXCEPT:   
Extractive
Expert
Analytical
Synthetic
13.    Which of the following is NOT one of the primary factors when considering a building for production purposes:   
Employee morale
Cost
Ambiance
Storage space


Chapter 7 - Marketing Channels

14.    The purchasing agent must also consider the service provided by the supplier. The service aspect involves:   
Delivery
Maintenance
Shipping
All the above
15.    Reciprocity refers to:   
Speculative buying
You buy from us and we'll buy from you
Contract buying
Purchasing agent


Chapter 8 - International Business

16.    You do NOT typically consider ___________________ in selecting a plant location:   
Closeness to sources of raw material
Access to transportation
Nearness to markets
Favorable climate
17.    Which one of the following is NOT a community factor?   
Super structures
Supply of workers
Other business facilities in the area
Local government's attitude


Chapter 9 - Ethics And Business Law

18.    _________________ is NOT considered as an example of computer hardware:   
Mainframes
Robotics
Personal computers
Servers
19.    Information systems do NOT include:   
TPS
MRS
BLT
DSS


Chapter 10 - Government And Business

20.    The balance sheet does NOT shows   
Assets
Cash flow
Liabilities
Owner's equity
21.    _____________ is NOT one of the most popular ratios to interpret financial statements:   
Economic value ratio
Current ratios
Solvency ratio
Return on investment


Chapter 11 - Business Statistics

22.    Data may be collected by all EXCEPT:   
Mail surveys
Land surveys
Personal interviews
Telephone surveys
23.    _____________ is NOT a measure of central tendency:.   
Arithmetic average
Deviation
Mean
Median
24.    A correlation of 1.0 indicates   
A reverse relationship
No relationship
A perfect relationship
An indirect relationship
25.    __________________ is NOT a component of time series:   
Secular trends
Uncertain trends
Cyclical trends
Seasonal trends


Chapter 12 - Business Finance

26.    Factors to be considered in a financing plan include all EXCEPT:   
Who will bear the cost and repayment
Effective business control
Government influences
Flexibility of the plan
27.    Short-term funds do NOT include:   
Income bonds
Normal trade credit
Bank credit
Drafts


Chapter 13 - Managerial Control

28.    Which one of the following is NOT a technique for sales forecast?   
Time-series projections
Linear programming
Least-squares method
Simulation
29.    ______________________ is a computerized technique that allows a firm to determine the optimum levels of output for several product lines at the same time.   
Break-even analysis
Exception analysis
Linear programming
EOQ


Chapter 14 - Financial Institutions

30.    The Federal Reserve System influences banking practices by:   
An open-market operation
The reserve requirement
The discount rate
All the above


Chapter 15 - The Financial Markets

31.    The oldest, largest stock exchange is   
American stock exchange
New York stock exchange
NASDAQ
Foreign stock exchange
32.    Popular averages/indices of stock prices include all but:   
Dow Jones
Standard and Poor
Bloomberg and Poor
Russell Index
33.    Security markets are supervised and regulated by:   
Federal authorities
State authorities
Federal and state authorities
City authorities


Chapter 16 - Risk and Insurance

34.    Casualty insurance covers financial loss for all EXCEPT:   
Automobile collision
Group insurance and pensions
Personal life
Workman's compensation


Chapter 17 - Marketing

35.    Emotional buying motives do NOT include:   
Satisfaction of the senses
Logical reasoning
Preservation of the species
Fear
36.    _____________ is NOT a marketing function:   
Specialization
Buying
Selling
Transportation
37.    The cost of marketing goods today accounts for more than:   
25%
50%
12%
75%


Chapter 18 - Marketing Channels

38.    Middlemen do NOT include:   
Agents
Wholesalers
Manufacturers
Specialized agents


Chapter 19 - Advertising and Sales Promotion

39.    More and more companies doing business online find that the best way to reach prospective customers is through   
Banner ads
iPhone
Web search advertising
Direct TV


Chapter 20 - Salesmanship and Marketing Management

40.    _____________________ authority is NOT found in the sales management hierarchy:   
Administrative
Participative
Operating
Staff


Chapter 21 - International Business

41.    One of the major concerns of countries all over the world is its:   
Domestic market
Balance of trade
Restrictions
Tariffs
42.    One of the major consequences of international trade between nations is:   
Higher prices for consumers
A decreased variety of consumer products
The possibility for total world output to increase
Reduced competition for businesses
43.    Which of the following is a tariff?   
Licensing requirements
Consumption taxes on imported goods
Unreasonable standards pertaining to product quality and safety
Domestic content rules


Chapter 22 - Ethics And Business Law

44.    Which of the following is NOT one of the provisions of the Sarbanes-Oxley Act of 2002?   
Strengthened the independence of firms that audit public companies
Ensured accuracy and reliability of corporate disclosures
Required ethics training in American corporations
Increased corporate responsibility


Chapter 23 - Government And Business

45.    Which one of the following is NOT an example of federal and state taxes?   
Welfare tax
Property tax
Sales tax
Corporate income tax

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