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Ch. 6 And 7 Test Review Part I
Test Description: Review for Ch. 6 and 7 Test for Principles of Business
Instructions: Answer all questions to get your test result.
1) It is easier for a small business to meet the precise needs of customers than a large business.
A
True
B
False
2) It is much more important for employees to practice ethical behavior than it is for managers to practice it.
A
True
B
False
3) Almost everyone has the same beliefs about what constitutes ethical behavior.
A
False
B
True
4) Once a business plan is written, it should never be revised and should never be updated.
A
True
B
False
5) Everyone who owns a business is an entrepreneur.
A
False
B
True
6) Work groups are an ineffective way for employees to gain experience with management activities.
A
True
B
False
7) The process of starting, organizing, managing, and assuming the responsibility for a business is called capitalism.
A
True
B
False
8) Supervisors often have non-management duties in addition to their management work.
A
False
B
True
9) In strategic management, managers are less directive and involve employees in decision-making.
A
True
B
False
10) The most important step in starting a business is preparation.
A
True
B
False
11) Which of the following is probably the LEAST important factor in becoming an entrepreneur?
A
living in a major U.S. city
B
developing a good initial business plan
C
having special skills and abilities
D
having a real desire to be your own boss
12) Managers typically spend much of their time dealing with
A
other managers in their own organizations.
B
people from other organizations.
C
customers.
D
All of these
13) The combined use of tactical and strategic management is known as
A
mismanagement.
B
mixed management.
C
management by committee.
D
management by others.
14) Successful entrepreneurs tend to have all of the following characteristics EXCEPT
A
energetic.
B
goal-oriented.
C
hesitant.
D
creative.
15) Entrepreneurs
A
must have a very low tolerance for ambiguity.
B
must have a business degree to be successful.
C
come from all age categories and educational backgrounds.
D
almost never own their first business while in their teens.
16) If you start a new business, you need information about
A
government regulations.
B
competitors.
C
All of these
D
customers.
17) Mission statements
A
describe the reason businesses exists and what they want to accomplish.
B
are written explanations of how specific business ideas will be carried out.
C
are the principles of conduct governing an individual or group.
D
are the guidelines that direct employees’ behavior.
18) Short-term financing is obtained for a period of less than
A
one year
B
three months
C
two years
D
six months
19) Which of the following is probably NOT a mid-management job?
A
customer service manager
B
information technology manager
C
marketing manager
D
vice-president of human resources
20) Which of the following would NOT be discussed in the operations plan section of a business plan?
A
sales forecasts
B
organization of the company
C
analysis of resources needed
D
human resource plans
*select an answer for all questions
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