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BML MidTerm 6
Test Description: BML Midterm, set 6
Instructions: Answer all questions to get your test result.
1) Which of these do you not need information on to start a business?
A
customers
B
government regulations
C
competitors
D
masters degrees in business administration
2) The first step in developing a business plan, after having the business idea in mind, is
A
identifying alternative plans for production and marketing
B
gathering and reviewing information
C
writing the introductory section
D
having the plan reviewed by an expert
3) The last step in developing the business plan, before implementing it, is
A
gathering and reviewing information
B
identifying alternative plans for production and marketing
C
having the plan reviewed by an expert
D
writing the conclusory section
4) Short-term financing is defined as being used for less than
A
one year
B
six months
C
three months
D
one month
5) Which management function involves identifying and arranging work and resources needed to achieve the goals that have been set?
A
controlling
B
planning
C
implementing
D
organizing
6) Organizing involves
A
identifying and arranging work and resources needed to achieve the goals that have been set
B
determining to what extent goals are being reached
C
analyzing information, setting goals, and making decisions about what needs to be done
D
directing and leading people to accomplish planned work
7) Which of the following is most likely an executive level job?
A
chief operating officer
B
customer service manager
C
supervisor of human resources
D
marketing manager
8) Which of these is most likely a mid-management job?
A
customer service representative
B
vice president of human resources
C
chief executive officer
D
shift supervisor
9) Executives spend most of their time on
A
planning and organizing
B
planning and controlling
C
staffing, implementing and controlling
D
organizing and implementing
10) The way a manager treats and involves employees is his/her
A
leadership style
B
influence
C
hairstyle
D
management style
*select an answer for all questions
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