This quiz works best with JavaScript enabled. Home > Economy > Business > Business Management – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Business Management Quiz 1 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Gradual loss of value because of wear and tear. A) Depreciation. B) Financial records. C) Working capital. D) Fixed assets. Show Answer Correct Answer: A) Depreciation. 2. They bargain with supplier, customers and others for better quality, lower prices, better delivery and prices etc. A) Negotiators. B) Resource Allocators. C) Entrepreneurs. D) Spokeperson. Show Answer Correct Answer: A) Negotiators. 3. According to the Business Video presentations, which of the following is NOT a typical task in the Administrative Support pathway? A) Greeting and welcoming customers. B) Scheduling and confirming appointments. C) Equipment operation and maintenance. D) Filing and maintaining documents. Show Answer Correct Answer: C) Equipment operation and maintenance. 4. This is a type of business where investors own shares called stock A) Corporation. B) Monopoly. C) Pool. D) Conglomerate. Show Answer Correct Answer: A) Corporation. 5. Operations management strategies and practices do not include A) Ecological sustainability. B) Economic social sustainability. C) Sustainability. D) Technological sustainability. Show Answer Correct Answer: D) Technological sustainability. 6. The first level of management in a company is typically: A) Executives. B) Supervisors. C) Middle managers. D) Work coaches. Show Answer Correct Answer: B) Supervisors. 7. Of the five value dimensions, which has been called the most important factor in long-term success? A) Innovation. B) Responsiveness. C) Delivery. D) Quality. Show Answer Correct Answer: D) Quality. 8. A customer asks a salesperson about a specific advertisement in last Sunday's newspaper. Which of the following would help the salesperson to assist the customer? A) Knowledge of the store's policies. B) Knowledge of the store's promotional budget. C) Knowledge of the products being promoted. D) Knowledge of the customer's preferences. Show Answer Correct Answer: C) Knowledge of the products being promoted. 9. A customer-service mindset means that a business considers providing excellent customerservice to be A) Moderately important. B) A top priority. C) Necessary in certain cases. D) Its only objective. Show Answer Correct Answer: B) A top priority. 10. Which function of management involves reviewing the performance of employees? A) Organizing. B) Planning. C) Leading. D) Controlling. Show Answer Correct Answer: D) Controlling. 11. Original facts and figures that businesses generate. A) Data. B) VoIP. C) Information system. D) Knowledge workers. Show Answer Correct Answer: A) Data. 12. In this function, managers must make sure that the business has sufficient resources to achieve its objectives. A) Coordinating. B) Controlling. C) Planning. D) Organizing. Show Answer Correct Answer: D) Organizing. 13. When an organization relocates one or more of its processes to another country, usually to save on costs. A) Global Outsourcing. B) Outsourcing. C) Global Firm. D) Off-shoring. Show Answer Correct Answer: D) Off-shoring. 14. Which of the following are examples of intellectual property that are protected by trade-secret legislation: A) Research techniques and artistic works. B) Chemical compounds and manufacturing processes. C) Novels and customer lists. D) Inventions and trade characters. Show Answer Correct Answer: B) Chemical compounds and manufacturing processes. 15. Which management style would work best with employees who have their own specialized jobs and are expert in them? A) Autocratic. B) Democratic. C) Open. D) Powerful. Show Answer Correct Answer: C) Open. 16. What are the four components of the business process? A) Production, Marketing, Finance and Management. B) Wholesaling Marketing, Finance and Management. C) Production, Manufacturing, Finance and Management. D) None of above. Show Answer Correct Answer: A) Production, Marketing, Finance and Management. 17. The idea "survival of the fittest" is expressed in the A) Principles of Social Darwinism. B) Concept of assimilation. C) Goals of the Progressive movement. D) Melting pot theory of American culture. Show Answer Correct Answer: A) Principles of Social Darwinism. 18. Which of the following is not a key management skill? A) Communication. B) Leading. C) Delegation. D) Independence. Show Answer Correct Answer: D) Independence. 19. Having clear customer relationship management goals before putting a program into place helps businesses to avoid A) Having unsatisfied customers. B) Having to lay off employees. C) Purchasing irrelevant technology. D) Spending any money. Show Answer Correct Answer: C) Purchasing irrelevant technology. 20. Which of the following is an example of a middle manager? A) Assistant Principals. B) Teacher. C) CFO. D) Principal. Show Answer Correct Answer: A) Assistant Principals. Next →Related QuizzesEconomy QuizzesBusiness Management Quiz 2Business Management Quiz 3Business Management Quiz 4Business Management Quiz 5Business Management Quiz 6Business Management Quiz 7Business Management Quiz 8Business Management Quiz 9Business Management Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books