Quiz 3
Question 1
An airplane manufacture assembles a plane in one location
and the workers and equipment go to the airplane when they need to work on it.
This is an example of a ________.
A)
Fixed-position layout
B)
Product layout
C)
Cellular layout
Question 2
The purpose of this legislation is to reduce unethical
corporate behavior, protect investors from the possibility of fraudulent
accounting activities by corporations, and decrease the likelihood of future
corporate scandals. It is the:
A)
Securities and Exchange Commission (SEC).
B)
Sarbanes-Oxley Act (SOX).
C)
Generally Accepted Accounting Principles (GAAP).
Question 3
In conducting financial analysis of the company, external
parties often use:
A)
Specialized internal reports
B)
Financial statements
C)
Better Business Bureau Rating
Question 4
After planning the production process at a manufacturing
plant, the next step is to determine the:
A)
Technological infrastructure
B)
Plant layout
C)
Labor requirements
Question 5
What is the primary purpose of product placement?
A)
To increase consumer awareness of products
B)
To get products to the customer
C)
To assemble inputs that go into the production process
Question 6
When an individual impersonates another user or site to act
in a malicious way, it is called:
A)
A Trojan horse
B)
Spoofing
C)
A worm
Question 7
A firm’s strategic plan and its marketing plan both start
with ____.
A)
Focus on customers
B)
Social responsibility
C)
Sales projections
Question 8
A ________ chart is useful when the production process is
fairly simple and the activities aren’t interrelated.
A)
Gantt
B)
PIE
C)
PERT
Question 9
A secure computer network that links computers that operate
in offices in different states or regions is a:
A)
Local area network
B)
Wide area network
C)
Database
Question 10
Elaine has just opened a new business near campus that is a
combination of a laundromat, a nail salon, and a tanning studio. There is an
accounting firm located just down the street and Elaine is paying them to do
all of her accounting. At the end of the first quarter (three months of
business), Elaine has several questions about how things are going. If she
wants to understand how much total cash has come into the business this quarter,
then she should look at the ________ that her accountant has prepared.
A)
The Statement of Cash Flows
B)
The Statement of Owner’s Equity
C)
The Income Statement
Question 11
What is the basic structure of the Federal Reserve System?
A)
There are 12 district banks, a Board of Governors and a
Federal Open Market Committee.
B)
The combination of all private banks in the U.S. excluding
Savings and Loans banks.
C)
There is one major bank located in Washington D.C. with branch
banks located in several major cities.
Question 12
Over a given period under normal working conditions, the
maximum quantity of goods that a manufacturing facility can produce is called
its:
A)
Warranty
B)
Capacity
C)
Durability
Question 13
The software used to design models of potential products is
called ________.
A)
Computer-aided manufacturing (CAM)
B)
Computer-aided design (CAD)
C)
Computer-created design (CCD)
Question 14
Using outside vendors to manufacture entire products,
components or provide services is called ________.
A)
Resource alignment
B)
Manufacturing strategy
C)
Outsourcing
Question 15
When Apple introduced the first iPhone, it was priced
substantially higher than other mobile phones at the time. But because it was
also the latest technology, Apple was confident it would sell well. This is an
example of:
A)
Skimming
B)
Penetration pricing
C)
Odd-Even pricing
Question 16
A creditor, such as a bank, would review a company’s cash
and other assets that can easily be converted into cash to determine its:
A)
Liquidity
B)
Break-even point
C)
Owner’s equity
Question 17
What is the important first step in any marketing research
project?
A)
Development of an approach to the problem
B)
Research design formulation
C)
Problem definition
Question 18
68. Elaine has just opened a new business near campus that
is a combination of a laundromat, a nail salon, and a tanning studio. There is
an accounting firm located just down the street and Elaine is paying them to do
all of her accounting. At the end of the first quarter (three months of
business), Elaine has several questions about how things are going. If she
wants to understand how much money she has put into the business so far, then
she should look at the ________ that her accountant has prepared.
A)
The Statement of Owner’s Equity
B)
The Statement of Cash Flows
C)
The Balance Sheet
Question 19
“Higher price equates to higher quality,” is an
example of a ________ pricing strategy in action.
A)
Prestige
B)
High/low
C)
Skimming
Question 20
Accounting has collected data on the length of time it takes
Wanda’s Widgets to pay its bill every month while sales has collected data
about which model of widgets they purchased last quarter. Shipping has been
tracking the number of orders that Wanda’s has returned over the last year.
Belinda, the sales manager is going to make a personal visit to Wanda’s Widgets
and needs information to inform her conversation with the owners. When she
makes her request, the information manager will use the ________ to obtain the
data to analyze.
A)
Enterprise resource planning system
B)
Data mine
C)
Data warehouse
Question 21
Elaine has just opened a new business near campus that is a
combination of a laundromat, a nail salon, and a tanning studio. At the end of
the first quarter (three months of business), Elaine wants to see if she has
made a profit so she makes an appointment to meet with her accountant. When she
gets to the appointment, her accountant will review which of the following
financial statements with Elaine?
A)
Statement of Owner’s Equity
B)
Balance Sheet
C)
Income Statement
Question 22
To calculate the net income from business operations a
manager would apply which of the following equations?
A)
Net income = liabilities + equity
B)
Net income = total revenue – total expenses
C)
Net income = debts – credits
Question 23
Every week, the grocery store chain Great Seals advertises
weekly specials and coupons, hoping to attract customers with great sale
prices. This is an example of:
A)
High/low pricing
B)
Prestige pricing
C)
Everyday low pricing
Question 24
Which of the four Ps is defined as creating goods and
services to offer customers?
A)
Place
B)
Promotion
C)
Product
