BML 10-4: Question Preview (ID: 13298)


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Under a Total Quality Management approach, who is responsible for customer satisfaction?
a) customers themselves. b) everyone involved in a business. c) customer service personnel. d) the sales manager.
Model stock is
a) keeping the same ratios, but a smaller overall number, as the proper stock. b) keeping only good-looking items on display. c) the appropriate amount of an item to keep on hand based on tarot card readings. d) the appropriate amount of an item to keep on hand based on expected sales.
The amount of time between order days plus the amount of time between order and delivery is known as the
a) order cycle. b) life cycle. c) business cycle. d) economic cycle.
If an item is bought FOB Mongolia, then
a) the buyer is responsible for shipping to Mongolia. b) the buyer is responsible for shipping from Mongolia. c) the buyer is reponsible for damages on the way to Mongolia. d) the buyer is responsible for all shipping and damages.
Purchase orders are not
a) the same as an offer for a contract. b) used for purchases that are needed immediately. c) used for purchases that are foreseeable and can wait to be made. d) of any legal significance.
Petty cash
a) must be kept secure and accounted for. b) purchases must go through the normal purchasing department procedures. c) is generally only used by very large companies. d) is only for unforeseeable purchases.
Which of these is not an EFT?
a) using a credit card at the cash register at Wal-Mart. b) using electronic means to have a financial institution to transfer funds to or from an account. c) using an ATM card to transfer money from your checking account to your savings account. d) using a check to have a financial institution to transfer funds to or from an account.
Which of these is not a risk a business faces if it has too much of a particular item on hand,
a) the items will spoil. b) consumer preferences will change it it will no longer be popular. c) the items will increase in value to the point that no customers will be able to afford them. d) the business will have to pay to store the items.
Business operation involving determining the activities to be completed, the people who will complete the work, and the needed resources.
a) safety and security b) logistics c) scheduling d) facilities management
Which of these is true?
a) A business that sells items customers want at a price they can afford can not fail. b) Even if a business sells items customers want at a price they can afford, it can fail due to poor operations management. c) Employees are mostly responsible for a business' success or failure. d) Safety and security protects customers and employees only.
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