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BML 10-4
Test Description: Business Management and Law, Chapter 10 set 4
Instructions: Answer all questions to get your test result.
1) Under a Total Quality Management approach, who is responsible for customer satisfaction?
A
everyone involved in a business.
B
customers themselves.
C
the sales manager.
D
customer service personnel.
2) Model stock is
A
keeping only good-looking items on display.
B
the appropriate amount of an item to keep on hand based on tarot card readings.
C
the appropriate amount of an item to keep on hand based on expected sales.
D
keeping the same ratios, but a smaller overall number, as the proper stock.
3) The amount of time between order days plus the amount of time between order and delivery is known as the
A
life cycle.
B
business cycle.
C
economic cycle.
D
order cycle.
4) If an item is bought FOB Mongolia, then
A
the buyer is responsible for shipping from Mongolia.
B
the buyer is responsible for all shipping and damages.
C
the buyer is responsible for shipping to Mongolia.
D
the buyer is reponsible for damages on the way to Mongolia.
5) Purchase orders are not
A
used for purchases that are needed immediately.
B
the same as an offer for a contract.
C
of any legal significance.
D
used for purchases that are foreseeable and can wait to be made.
6) Petty cash
A
purchases must go through the normal purchasing department procedures.
B
is generally only used by very large companies.
C
is only for unforeseeable purchases.
D
must be kept secure and accounted for.
7) Which of these is not an EFT?
A
using an ATM card to transfer money from your checking account to your savings account.
B
using electronic means to have a financial institution to transfer funds to or from an account.
C
using a check to have a financial institution to transfer funds to or from an account.
D
using a credit card at the cash register at Wal-Mart.
8) 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
the items will increase in value to the point that no customers will be able to afford them.
C
consumer preferences will change it it will no longer be popular.
D
the business will have to pay to store the items.
9) Business operation involving determining the activities to be completed, the people who will complete the work, and the needed resources.
A
scheduling
B
safety and security
C
logistics
D
facilities management
10) Which of these is true?
A
A business that sells items customers want at a price they can afford can not fail.
B
Safety and security protects customers and employees only.
C
Even if a business sells items customers want at a price they can afford, it can fail due to poor operations management.
D
Employees are mostly responsible for a business' success or failure.
*select an answer for all questions
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