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POB Unit 6 & 7

Quiz by Jeanette Clark

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22 questions
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  • Q1
    What is one of the main reasons why businesses need to keep accurate accounting records?
    to follow procedures
    to eliminate risks
    to regulate taxes
    to control expenses
    30s
  • Q2
    Businesses use the information collected through the accounting process to prepare accurate:
    promissory notes.
    balance sheets.
    inventory forms.
    purchase orders.
    30s
  • Q3
    Businesses would not be able to determine if they are meeting their financial goals without accurate:
    accounting systems.
    production plans.
    marketing plans.
    distribution systems.
    30s
  • Q4
    When businesses invest funds to expand, they are involved in the process of:
    depreciation
    finance
    selling
    capitalism
    30s
  • Q5
    The role of finance in business often involves:
    monitoring expenses.
    obtaining funds.
    buying supplies.
    paying employees.
    30s
  • Q6
    How frequently should the operations function, which consists mainly of activities, be performed?
    daily
    weekly
    yearly
    monthly
    30s
  • Q7
    The Scott Company decided to sell stock to raise capital. Under what form of business organization does the company operate?
    cooperative
    proprietorship
    corporation
    partnership
    30s
  • Q8
    What marketing activity is taking place when a car dealership promotes their newest vehicle on the radio?
    offering the products customers want
    communicating with customers
    finding out about customers
    finding out about customers
    30s
  • Q9
    According to the marketing concept, which option demonstrates customer orientation?
    advertising the features of a product
    researching a firm's competitors
    convincing a buyer to buy
    finding out what a buyer wants
    30s
  • Q10
    Each year, more than 500,000 people watch the Soccer World Cup sponsored by Adidas. What is being marketed by Adidas?
    goods
    ideas
    services
    places
    30s
  • Q11
    José 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?
    corporation
    cooperative
    partnership
    sole proprietorship
    30s
  • Q12
    A 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
  • Q13
    A 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?
    organizing
    controlling
    directing
    planning
    30s
  • Q14
    Which would probably result if a business reduced its marketing costs?
    increased costs of production
    decreased need for customer contact with businesses
    decreased variety of consumer goods
    increased consumer awareness of goods and services
    30s
  • Q15
    A 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

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