This quiz works best with JavaScript enabled. Home > Economy > Business > Business Management – Quiz 34 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Business Management Quiz 34 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Being a manager of the business variety is tough because A) You keep track of everyone. B) You have multiple jobs. C) Everyone relies on you. D) Its a job. Show Answer Correct Answer: C) Everyone relies on you. 2. What is important about managing a business A) You are the leader. B) People will you judge how you do. C) People will be looking up to you for leadership. D) Its a job. Show Answer Correct Answer: C) People will be looking up to you for leadership. 3. Cameron supervises the transportation, storage, and handling of his company's products. Which type of business management and administration career does Cameron have? A) Supply chain management. B) Human resources management. C) Business analytics. D) Office management. Show Answer Correct Answer: A) Supply chain management. 4. A federal law that provides pensions to retired workers and disabled workers is A) Fair Labor Standards Act. B) Occupational Safety and Health Act. C) Americans with Disability Act. D) Social Security Act. Show Answer Correct Answer: D) Social Security Act. 5. The difference between current assets and current liabilities is A) Working capital. B) Income. C) Cash flow. D) Owner's equity. Show Answer Correct Answer: A) Working capital. 6. What kind of segmentation is used by a firm that offers a wide range of products such as holidays and insurance aimed at customers aged 60 and above? A) Psychographic. B) Demographic. C) Lifestyle. D) Geographic. Show Answer Correct Answer: B) Demographic. 7. What is the first level of Maslow's Hierarchy of Needs? A) Safety needs. B) Psychological Needs. C) Physiological Needs. D) Self-Actualisation. Show Answer Correct Answer: C) Physiological Needs. 8. How does having a customer-service mindset benefit a business's employees? A) It increases the employees' efficiency levels. B) It helps the business achieve its profit goals. C) It creates a competitive work environment. D) It helps employees advance in their careers. Show Answer Correct Answer: D) It helps employees advance in their careers. 9. The lower cost strategy is where a ..... A) Business aims to be the low cost producer in its industry. B) Business aims to sell at the lowest price in its industry. C) Business aims to offer something unique to consumers. D) Business aims to lower costs. Show Answer Correct Answer: A) Business aims to be the low cost producer in its industry. 10. A style of leadership that focuses on accomplishing work by relying on contingent rewards, task instructions, and corrective actions. A) Traditional Leadership. B) Transformational Leadership. C) Transactional Leadership. D) Task-Focused Leadership. Show Answer Correct Answer: C) Transactional Leadership. 11. Reviewing the week's purchases (inventory list) for the store A) Planning. B) Organizing. C) Leading. D) Controlling. Show Answer Correct Answer: D) Controlling. 12. Which of the following is not a common reason for the failure of small businesses? A) A lack of sufficient start-up money. B) Lack of management experience. C) Shortage of skilled workers. D) Failure to manage credit offered to customers. Show Answer Correct Answer: C) Shortage of skilled workers. 13. What is a business that is owned and operated by one person known as? A) Limited liability company. B) Sole trader. C) Partnership. D) Entrepreneurship. Show Answer Correct Answer: B) Sole trader. 14. Name that concept:Incremental or radical improvements to a business idea, or the generation of new ideas in relation to a final product, service or process, are the result of internal or external influences. A) Strategy. B) Innovation. C) Change. D) Globalization. Show Answer Correct Answer: B) Innovation. 15. Enrolling your sales staff in a training seminar on "Making an Effective Sales Pitch." A) Planning. B) Organizing. C) Leading. D) Controlling. Show Answer Correct Answer: C) Leading. 16. In which stage of project management does risk analysis take place? A) Initiation. B) Planning. C) Execution. D) Closing. Show Answer Correct Answer: B) Planning. 17. Employees who are in contact with customers can reinforce the company's service orientation by dressing professionally and: A) Maintaining a positive attitude. B) Offering deep discounts to loyal customers. C) Referring customer complaints to others. D) Using consensus-building skills. Show Answer Correct Answer: A) Maintaining a positive attitude. 18. A set of measures built into the production process to make sure the products or services meet certain standards is known as which of the following? A) Performance control program. B) Sales standards program. C) Quality control program. D) Standard regulation program. Show Answer Correct Answer: C) Quality control program. 19. Acquire businesses that engage in similar activity for example if AT & T purchased Verizon. A) Virtual Integration. B) Horizontal Integration. C) Forward Vertical Integration. D) Chain of Production. Show Answer Correct Answer: B) Horizontal Integration. 20. The type of leader who is usually the most efficient is A) Autocratic. B) Democratic. C) Open. D) Situational. Show Answer Correct Answer: A) Autocratic. ← 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