This quiz works best with JavaScript enabled. Home > Economy > Business > Business Management – Quiz 29 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Business Management Quiz 29 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A written statement of goals and objectives for a business with a strategy to achieve them is called A) Mission statment. B) Business plan. C) Financial plan. D) Market analysis. Show Answer Correct Answer: B) Business plan. 2. Which of the following documents is drafted in the initiation stage of project management: A) Lessons-learned document. B) Risk analysis. C) Work breakdown structure. D) Statement of work. Show Answer Correct Answer: D) Statement of work. 3. ..... determines how plans can most effectively be accomplished; arranging resources to complete the work. A) Observing. B) Organizing. C) Planning. D) Staffing. Show Answer Correct Answer: B) Organizing. 4. Small businesses are responsible for what percentage of sales in the U.S.? A) 45%. B) 54%. C) 47%. D) 57%. Show Answer Correct Answer: C) 47%. 5. Before you decide what you're going to sell, you need to answer this simple question: A) How can I make some money?. B) How can I hire the best people?. C) What problem can I solve?. D) Where can I open my store?. Show Answer Correct Answer: C) What problem can I solve?. 6. Effective budgets should always be A) Evaluated. B) Optimistic. C) Inflexible. D) Secretive. Show Answer Correct Answer: A) Evaluated. 7. Encourages trade between nations A) Because resources are valuable to marketers, it doesn't take them long to. B) If our nation lacks a resource, we can usually trade something to get it. C) Pinpoint where a particular resource can be found in abundance. D) All of above. Show Answer Correct Answer: D) All of above. 8. This type of communication is appropriate for communicating information pertaining to new policies and orders. A) Verbal. B) Written. C) Oral. D) Both Oral and Written. Show Answer Correct Answer: D) Both Oral and Written. 9. The process whereby younger employees help members of an older generation understand differences is called ..... A) Mentoring. B) Reverse mentoring. C) Reverse training. D) None of these. Show Answer Correct Answer: C) Reverse training. 10. Which production concept promotes intergenerational equity? A) Quality assurance. B) Continuous improvements. C) Sustainability. D) Production planning. Show Answer Correct Answer: C) Sustainability. 11. Managing work schedules to achieve maximum productivity. A) Subordinate. B) Problem. C) Time management. D) Work coach. Show Answer Correct Answer: C) Time management. 12. Producing output at the highest ratio of output to input A) Effectiveness. B) Efficiency. C) Labor intensive. D) Capital intensive. Show Answer Correct Answer: B) Efficiency. 13. Which career requires less education than an Auditor? A) Accountant. B) Bookkeeper. C) Credit Analyst. D) Financial Manager. Show Answer Correct Answer: B) Bookkeeper. 14. This is the process where one company acquires legal control over another A) Monopolization. B) Merger. C) Invest. D) Absorption. Show Answer Correct Answer: B) Merger. 15. Which law required automobile makers to modify engines to meet higher emission standards? A) Automobile Emission Act. B) Clean Air Act. C) Modified Engine Act. D) Air and Water Pollution Act. Show Answer Correct Answer: B) Clean Air Act. 16. It is a portion of profits earned by the shareholder. A) Stocks. B) Revenue. C) Shares. D) Dividends. Show Answer Correct Answer: D) Dividends. 17. How should a person prepare for an interview? A) Research the company. B) Get a poor night's sleep. C) Don't ask questions. D) None of above. Show Answer Correct Answer: A) Research the company. 18. Employees at the first level of management in business are A) Mid-managers. B) Supervisors. C) Entrepreneurs. D) Executives. Show Answer Correct Answer: B) Supervisors. 19. Pricing is? A) Pricing decisions dictate how much to charge for goods and service in order to make a profit. B) Pricing decisions are based on costs and on what competitors charge for the same product or service. C) Must also determine how much customers are willing to pay. D) All of above. Show Answer Correct Answer: D) All of above. 20. Which of the following is NOT one of the four components of the business process? A) Production. B) Organization. C) Finance. D) Marketing. Show Answer Correct Answer: B) Organization. ← PreviousNext →Related QuizzesEconomy QuizzesBusiness Management Quiz 1Business Management Quiz 2Business Management Quiz 3Business Management Quiz 4Business Management Quiz 5Business Management Quiz 6Business Management Quiz 7Business Management Quiz 8Business Management Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books