General Business Information MCQs

1. Studying a variety of ecommerce ____ helps to understand the true importance of ecommerce.

2. ____ is a fault-tolerance technique that links multiple servers together to act as a single server.

3. Unlike the united states, most countries across the globe rely on the _____ to measure units.

4. Clarifying the issues of a problem is the _____ step in the problem-solving process.

5. In the problem solving process, the first step is to try to ______.

6. A(n) ________ cost is one whose total amount changes in direct proportion to a change in volume.

7. Balance of payments is a ____ concept than balance of trade.

8. A(n) ____ converts all of the statements in a program in a single batch.

9. In order to make your career as mobile as possible, it is important to ________.

10. The best way to correct any new problems that arise because of a solution is to ________.

11. Folds are an example of ________.

12. _____ of all students who do not complete high school cannot find work.

13. “like”, “um”, and “you know” are all examples of _____.

14. A fairly subtle approach to advertising is _____.

15. During the 1980s, incompatible computer products resulted in ____.

16. It is estimated that a first time dui costs roughly______ once all potential costs are factored in.

17. _____ and fotolia are examples of web sites where you can download graphics and photos for a fee.

18. Alcohol-related collisions cost the american public about 114___________ dollars per year.

19. _____ is an example of transaction-processing system.

20. The business architecture describes __________.

21. An important feature of emergency operation plans is that they ________________________________.

22. Cohabitation is _____ and marriage rates are _____ with adults.

23. A disadvantage of a franchise is that the franchise owner must _____.

24. ____________ is an example of a retailer whose merchandise mix is both wide and deep?

25. A client-server relationship is the basic form of a _____.

26. The best way to convince employers of your skills and abilities is to _____.

27. ________ is a traditional function of the mis department.

28. A company logo would be an example of a ________.

29. ____ are particularly useful for individuals who need to scan barcodes while on the go.

30. When the price level decreases, _____.

31. _____ involves determining a structure for both individual jobs and the overall organization.

32. _____ means directing and motivating individuals to achieve organizational goals.

33. _____ offer(s) consumers incentives to accept advertising and e-mail voluntarily.

34. _____ refer to the pay that employees receive over a fixed period, most often weekly or monthly.

35. ______ is at the center of the diversity wheel.

36. ________ are informal standards of conduct that members share and that guide member behavior.

37. _________ is an important part of the total product offer for a product.

38. ___________ are good places to look to find your current expenses when building your budget.

39. ______________ is the amount an employee earns before payroll withholding is performed.

40. _______________ is the process of selling goods and services to individuals for their personal use?

41. ________________ is the money a company generates through the sale of products and services.

42. Business writing should be purposeful, economical, and _____________________.

43. A _____ can represent a digit, a letter, or a color.

44. A _____ is a document that thanks an interviewer and restates an applicant's interest in the job.

45. A ________ is what a customer gains from the product or service feature.

46. A business opportunity is an idea, plus ________.

47. A claim is ________; an adjustment is ________.

48. A company newsletter is an example of ________.

49. A discount from the list, or retail, price offered to intermediaries is a(n) ____ discount.

50. A good or service purchased to satisfy personal and family needs is a(n) ________ product.

51. A job task is a(n)________.

52. A legally protected brand is called a(n) ________.

53. A market structure with a large number of sellers who make differentiated products is called _____.

54. A marketer focuses on a product's ________.

55. A net worth statement, insurance plan, and a budget are all part of a _____.

56. A partnership in which owners share managerial responsibilities is called a __________.

57. A partnership is a business organization owned by _____

58. A prospect who _____ will say no during the first few calls to test the salesperson's persistence.

59. A(n) _____ has a legal life of its own.

60. A(n) ________ is a collection of data that is stored within business records.

61. A/an _______ is a mathematical statement that calculates a value.

62. All contracts can be categorized as either ___________ or __________.

63. All of the following except ________ will help you plan effective email messages.

64. All of the following except ________ will make your business messages more effective.

65. An effective business document should ____.

66. An existing business can be for sale because _____.

67. An experimental study is one that _____.

68. An increase in quantity supplied is represented by _____.

69. An investor who invests money into your business in exchange for equity receives ________.

70. Another name for a manufacturer's brand is a(n) __________ brand.

71. Antitrust laws _____ competition, and patents _____ competition.

72. Any space free of text or artwork, both in print and online, is referred to as ________ space.

73. Assembly processes are ________ activities.

74. Asset-based borrowing permits small businesses ________.

75. Compared to cds, basic savings accounts are _____ liquid and have _____ interest rates.

76. Consumer ____________ is central to a capitalist economy.

77. In the context of diverse workforces, _____ is a secondary characteristic of diversity.

78. ____ resources are used to meet obligations to investors and creditors.

79. _____ are an example of a fringe benefit provided by a company to its employees.

80. _____ do not have the authority to make decisions.

81. _____ is a marketing strategy that creates new products for present markets.

82. _____ refers to a process in which two or more people get together to generate new ideas.

83. _____ refers to searching and capturing new ideas that lead to business opportunities.

84. ________ cultures value hard work and promote entrepreneurial risk taking.

85. ________ has helped small businesses compete with larger businesses.

86. ________ is a set of principles concerned with reducing waste and improving flow.

87. Both job order costing and process costing ________.

88. Customers' perceptions of a product are called the product's _____.

89. Deciding the sequence of operations a company will use to create its product is called ________.

90. Ethics are _____.

91. Ethics are the standards of right and wrong set for us by society, whereas the law is __________.

92. Every person has the _____ and _____ to pursue a career as an entrepreneur.

93. Giving consumers larger quantities at a low price would help taco bell regain _____.

94. If a firm can earn ________, the firm is creating value for its shareholders.

95. In _____, many firms compete by selling differentiated products.

96. In a ________ structure each business unit has complete autonomy to reach its goals.

97. In a generic value chain, a firm's after-sales service will be referred to as its _____.

98. In a large corporation, shareholder responsibilities include ________.

99. In corporations, owners are __________________ and managers are ________________.

100. In porter's five forces model, the threat of new entrants concerns the danger of ________.

101. In regard to firm growth, evidence shows that ________.

102. It typically requires at least ________ years to develop a company worth harvesting.

103. Japanese managers tend to be ____ in their decision-making style when compared with u.s. managers.

104. Market planning is a type of ________.

105. Members of the marketing team are most often involved with ________.

106. Mixing _______ with ________ improves creativity.

107. Most small businesses are more _____ than _____.

108. Most workers learn what is expected as far as performance on the job from group ________.

109. Odd prices often suggest __________ to consumers.

110. Of minority groups in the united states, ________ own the most small businesses.

111. Organizing a successful firm in a market economy has become ________ over the last century.

112. Outsourcing some production is a means of _________ a capacity constraint.

113. Owning ten stocks rather than two illustrates the concept of ________.

114. People aged __________ are the most entrepreneurially active in the united states.

115. People you think might be receptive to your sales presentation are called ________.

116. Planning gives organizations a way to deal with change that ________.

117. Political behaviors usually ________.

118. Poor business processes is an example of the ________ dimension of business problems.

119. Porter's competitive forces model includes _________ forces that impact every organization.

120. Possible explanations for or solutions to a problem are termed as _____.

121. Price should reflect the organization's ________.

122. Professional careers in information systems require all of the following except ________.

123. Profit incentivizes _____.

124. Profit is the reward for business in exchange for the ____ taken in providing products.

125. Profits allow a company to ________.

126. Promotional pricing tactics include __________.

127. Salespeople often are paid a _______ based on a percentage of their sales.

128. Service or product quality is most likely to be crucial in a business plan for _____.

129. Similar to how large businesses proceed, small businesses make marketing decisions ____________.

130. Small business owners can seek professional advice at no cost through ________.

131. Sole proprietorships have all of the following advantages except ________.

132. Some organizations fail to make the connection between training and _____.

133. Successful businesses are built on ________.

134. Successful managers tend to be better at ________.

135. Taco bell's predominant pricing strategy is _______.

136. Technical skills that apply to the business at hand are most often necessary at __________.

137. Teenage entrepreneurship is growing especially in the _____ industry.

138. The _____ exerts the strongest influence on the act of communication.

139. The _____ for an accountant is between $40,000 and $50,000.

140. The _____ is an organization's ability to achieve multiple objectives at the same time.

141. The ________ addresses the roles of the community, region, nation, and world in a business.

142. The ________ is a short overview of the entire business plan.

143. The ________ problem occurs when supervisors tend to rate all their subordinates consistently low.

144. The best business opportunities often combine both ________ and ________.

145. The best organizational structure is the one that ________.

146. The chance of losing time, money, reputation, etc. is known as __________.

147. The change brought about by online competition from amazon and walmart are examples of _____

148. The cost of raw materials used to produce a good or service represent the firm's ________ costs.

149. The department that hires, trains, and develops company employees is called ________.

150. The drawback to personal selling is _____.

151. The due diligence process of analyzing and evaluating an existing business ________.

152. The fact that joe works nine hours per day is an example of ________.

153. The financial analysis component of a business plan is to describe _____.

154. The financial manager for a typical corporation is responsible for ________.

155. The first organizing decision that an entrepreneur must make is the ________.

156. The first phase of determining where to locate a business is ________.

157. The first place an entrepreneur should look for startup capital is ________.

158. The first step in developing the promotion program is to __________.

159. The focus of a small company's marketing plan should be on ________.

160. The foundation of every business is ________.

161. The industry in which a new venture will operate is the business's ____.

162. The introductory stage will be followed by a _____ stage for a successful product.

163. The inuit have dozens of words for what we typically call snow. this is an example of ____________.

164. The is department has responsibility for all of the following functions except ____________.

165. The lower-order needs of maslow's hierarchy of needs include physiological, safety, and __________.

166. The middlemen in a distribution channel are sometimes called ________.

167. The most common form of direct-mail format is a _____.

168. The most visible part of the marketing mix, which can be very expensive, is ________.

169. The need __________ would be classified as a social need.

170. The organizational strategy should ideally _____ the is strategy.

171. The physical products that a business offers are called ________.

172. The positive effects of allowing employees to manage workflow is that _______.

173. The purpose of identifying your audience's questions about your product is to _____.

174. The sources and uses table is a part of the ___________ of the business plan

175. The three "tests" associated with a business plan are ________.

176. The three approaches to control are ________.

177. The two major forms of workforce diversity are ________ and ________.

178. The unemployment rate is defined as the ________ divided by the ________.

179. The value chain is the sequence of business functions in which ________.

180. Through equity financing, stockholders become _________ of the firm.

181. To encourage entrepreneurial growth governments might _______

182. To form a sole proprietorship, ________ is required.

183. Today, _____ and _____ are often combined into a single system.

184. Top management has a major impact on the organization's culture by ________.

185. Trust, respect, and _______ are the building blocks of a good business relationship.

186. Unlike entrepreneurs of the past, today's entrepreneurs ________.

187. Using technology to sell ________.

188. When a company uses the perpetual inventory system _________.

189. When a firm tries to differentiate its products, it often applies a concept known as ________.

190. When a not-for-profit corporations dissolves, its assets are ________.

191. When buying a home, it is important to factor in future costs, like ___________.

192. When no historical data are available, _____ is the sole basis for predicting future demands.

193. When the census bureau is the source of your data, you are conducting ____ research.

194. Companies that rely on bureaucratic control tend to ____.

195. Conditions that could negatively affect a company's competitive capability are called ________.

196. Creating new jobs, inventing new products, and opening new stores are actions of a(n) _____.

197. For most people, experiencing stress is _______.

198. In addition to the price of the auto, ____ may be a price variable in an auto negotiation.

199. In general, industries are more attractive when the ________.

200. Mcgregor recognized that ________.

201. The feasibility analysis includes all of the following except ____.

202. The standards to which performance is compared come from ___________.

203. The three primary reasons startups need funding are ________.

204. Corporate social performance is depicted as an _____ variant of corporate social responsibility.

205. ________ are a set of activities an organization performs in order to reach their business goals.

206. Some people argue that _____ is the most difficult and most important part of strategic management.

207. The term used to describe the benefits produced by a merger or acquisition is _____.

208. The balance sheet should be thought of as the ____ of the organization.

209. The balanced scorecard approach to control ____

210. The balanced scorecard method is based on __________ dimensions of a firm's performance.

211. The balanced scorecard system requires management to consider ________.

212. The cost of the business process is the sum of the cost of the inputs and the ________.

213. ____ is the process of moving an organization toward its vision.

214. When the federal reserve board sells government securities, _____.

215. Application software that is intended for use in a specialized business environment is called ____.

216. Objectives during a sales call include making the customer ________.

217. A type of business system is the ____, which is used to improve decision making.

218. Advantages to buying an existing business that you do not have with a startup include ________.

219. For product-based businesses, ________ often represents their largest capital investment.

220. All of the following except ________ would be an advantage to partnership.

221. ________ strategies emphasize both new products and new markets to achieve growth.

222. __________ involves computers directly in the production process.

223. A ____________ is a clear and lofty sense of why a business exists.

224. A business plan can help a company ________.

225. A firm's _____ is the percent of the total market for a product that is controlled by that company.

226. A firm's _____ resources are also known as labor.

227. A firm's ________ expresses the number of times per year the business sells all of its inventory.

228. A music download costs $1.00 for one song. $1.00 is an example of _____ .

229. A narrow span of control ________.

230. A sample standard deviation is the best point estimate of the ___________.

231. A visual representation of an organization's structure is also known as the _______.

232. An advantage of rating performance based on outcomes is that _____.

233. An agreement to share in the control and ownership of a new enterprise is known as a/an _____.

234. Analysis of a firm's internal environment identifies the firm's ________.

235. Analysis of the external environment of an organization identifies the organization's ________.

236. Clothing manufacturers typically prefer _____ distribution.

237. If you put off making a decision or performing a task, you are _______.

238. _____________ studied how the characteristics of the job itself affected worker motivation.

239. A swot analysis is often included in the ________.

240. All of the following are advantages of forming a corporation except ________.

241. All of the following are benefits that can be attributed to outsourcing, except ________.

242. All of the following are common organizational strategies except __________

243. ____ are primarily interested in the company's margins and cash flow projections.

244. _____ can be a better way to sell items that rely on personal selling skills.

245. _____ have the most freedom from government regulation.

246. _____ is an element of the management activity in a business.

247. _____ is the only business function that is directly responsible for creating sales and revenue.

248. ________ is the first, or "big picture," level of planning.

249. ________ is the primary market for u.s. franchisers.

250. A ________ is a group of people who would be interested in buying a given product or service.

251. A company's mission statement should be placed in the ________ section of its business plan.

252. A competitive analysis is an important component of ________.

253. A disadvantage to joining a family business is that _____.

254. A firm's good reputation for quality customer service is categorized as its _____.

255. A growth strategy that attracts users of competitive brands is called a ________ strategy.

256. A small business advantage is ________

257. A(n) ________ is a 15- to 30-second summary of your business.

258. A(n) ________ is a company's plan to generate revenue and make a profit from operations.

259. After harvesting, many entrepreneurs experience conflicts that are _____ in nature.

260. All of the following are reasons why people start small businesses except ________.

261. Bankers and potential investors are likely to read __________ first.

262. Based on the contingency approach, to define performance _______ goals can be used in most jobs.

263. C corporations, s corporations, and llcs can be ________ to establish.

264. Critical to the business case is the identification of both _________ and ________.

265. Defining the organizational mission forces managers to identify ________.

266. Expressing concern for social issues by giving money, time, or advice is called ________.

267. Good marketers know that a(n) ________ is the heart of the marketing plan.

268. Important factors to investigate regarding the business to be purchased include ________.

269. In the last decade of the century, ____ became a major force in the economy in regard to business.

270. In the late 1800s organization among farmers resulted in _____

271. Income statement projections realistically ________ in the first few months of operations.

272. Intrapreneurs make use of __________ to develop and launch new products and generate new profits.

273. People supporting a business on a crowdfunding site like kickstarter ________.

274. The two general categories of business models are ________ and ________.

275. To help companies reduce age discrimination, their managers can ____.

276. To help determine whether your business will be profitable, calculate the ________.

277. Total cost of goods sold per unit consists of ________.

278. Total revenue divided by ________ = units sold.

279. When you build a brand, try to focus tightly on one key ________.

280. When you start your business your ________ will guide the business operations and decisions.

281. Writing a business plan can ensure that you ________.

282. Your business plan projections should be ________.

283. A share of a company's profits paid to an investor is called a ________.

284. A _____ is a situation requiring the purchase of a product for the first time.

285. A _____ is primarily focused on planning and selling.

286. A(n) ________ is a type of entrepreneur who prefers to keep his or her business small.

287. _____ can be defined as the combination of benefits received and costs paid by the customer.

288. ____________ is the temporary withdrawal of a person's license or driving privileges.

289. After receiving a license, 16 year olds may not drive between _________.

290. Dimming a component is also called ____ the component

291. In addition to not parking where signs prohibit it, you should never park __________________.

292. Writers use coordination to do all of the following except __________.

293. When microsoft copyrighted its windows software, it established a(n) ____ monopoly.

294. One of the most important reasons for ethernet standards is it ________.

295. A firm considers _____ to increase size and market power within the industry.

296. Applied formatting affects ____ publication(s).

297. Through e-government, _____.

298. With the _____ approach, an organization chooses an outsourcing company in the same country.