
POB Unit 6 & 7
Quiz by Jeanette Clark
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22 questions
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- Q1What is one of the main reasons why businesses need to keep accurate accounting records?to follow proceduresto eliminate risksto regulate taxesto control expenses30s
- Q2Businesses use the information collected through the accounting process to prepare accurate:promissory notes.balance sheets.inventory forms.purchase orders.30s
- Q3Businesses would not be able to determine if they are meeting their financial goals without accurate:accounting systems.production plans.marketing plans.distribution systems.30s
- Q4When businesses invest funds to expand, they are involved in the process of:depreciationfinancesellingcapitalism30s
- Q5The role of finance in business often involves:monitoring expenses.obtaining funds.buying supplies.paying employees.30s
- Q6How frequently should the operations function, which consists mainly of activities, be performed?dailyweeklyyearlymonthly30s
- Q7The Scott Company decided to sell stock to raise capital. Under what form of business organization does the company operate?cooperativeproprietorshipcorporationpartnership30s
- Q8What marketing activity is taking place when a car dealership promotes their newest vehicle on the radio?offering the products customers wantcommunicating with customersfinding out about customersfinding out about customers30s
- Q9According to the marketing concept, which option demonstrates customer orientation?advertising the features of a productresearching a firm's competitorsconvincing a buyer to buyfinding out what a buyer wants30s
- Q10Each year, more than 500,000 people watch the Soccer World Cup sponsored by Adidas. What is being marketed by Adidas?goodsideasservicesplaces30s
- Q11José is opening a fish tank cleaning service. He has potential investors, but decides he would prefer to structure the business ownership so that he is ultimately responsible for the success or failure of the business. Which type of business ownership should José select?corporationcooperativepartnershipsole proprietorship30s
- Q12A type of business ownership in which one or more of the owners does not have full liability is called a:sole proprietorship.limited partnership.general partnership.service organization.30s
- Q13A foreman spends time connecting with his workers on an interpersonal level. This involves communicating in ways that motivate and inspire employees toward a higher level of productivity. This task would fall under which function of management?organizingcontrollingdirectingplanning30s
- Q14Which would probably result if a business reduced its marketing costs?increased costs of productiondecreased need for customer contact with businessesdecreased variety of consumer goodsincreased consumer awareness of goods and services30s
- Q15A manager who helps an employee count the money in a cash drawer and prepare a bank deposit is demonstrating:natural talent.technical skills.aggressive behavior.creativity.30s