PoB 4.00 - Business Operations Question Preview (ID: 34838)


4.00 - Business Operations.

ABC Ltd. is a retailer of footwear. They like to keep 5 days of safety stock. They normally sell 500 units of one brand daily. Its supplier takes a week to deliver the order. At what quantity should the inventory manager place his/her next order?
a) 6,000 units
b) 3,500 units
c) 2,500 units
d) 17,500 units

Comparing the prices offered by different vendors for the same goods and services is what part of the purchasing process?
a) Bid analysis
b) Price fixing
c) Invoice payment
d) Receipt of goods

By purchasing just the quantity of supplies that is needed, purchasing can
a) minimize inventory investment.
b) provide an uninterrupted flow of supplies.
c) plan the company's cash flow.
d) buy supplies at the lowest possible price.

Which of the following questions would best be answered by the purchasing function:
a) How much merchandise should we buy?
b) How can we inform customers of available merchandise?
c) How will merchandise be shipped to us?
d) How can we protect merchandise from pilferage?

The Fair Labor Standards Act sets wage, overtime, and age requirements for certain types of employees. What did they set as a standard work week and what happens to wages if you work more than the standard work week?
a) 40 hours; 1.5 times your normal wage for overtime
b) 30 hours; 1.25 times your normal wage for overtime
c) 42 hours; 1.75 times your normal wage for overtime
d) 38 hours; 2 times your normal wage for overtime

She works at a factory that makes paint remover. The cabinet is out of face masks, so she worked for 4 hours before she was given a face mask, and had an asthma attack. What is the best way to describe the type of hazard that caused the injury? 
a) Chemical hazard
b) Physical hazard
c) Mechanical hazard
d) Biological hazard

Sally climbed the shelving unit to get a box on the top shelf because there was no ladder supplied by her boss. She fell and broke her arm. What is the best way to describe the type of hazard that caused the injury?
a) Physical hazard
b) Mechanical hazard
c) Chemical hazard
d) Biological hazard

The Occupational Safety and Health Administration (OSHA) was created with the signing of the Occupational Safety and Health Act in 1971. The purpose of the act is to:
a) assure safe and healthful working conditions for working men and women
b) create more government jobs
c) make it more difficult to operate a small business.
d) reduce the power of unions

In a factory, Jose operates a machine that applies 1000 pounds of pressure per square inch. If Jose loses a pinky finger because it got caught in the machine. What is the best way to describe the type of hazard that caused the injury?
a) Mechanical hazard
b) Chemical hazard
c) Physical hazard
d) Dukes of Hazard

Which of the following processes turns economic resources into goods and services:
a) Production
b) Distribution
c) Promotion
d) Marketing

What production activity evaluates products to make sure that the products the business produces meet certain quality standards?
a) Follow-up
b) Form utility
c) Automation
d) Standardization

Which of the following terms is used to describe the major ongoing activities of a business?
a) Operations
b) Input
c) Output
d) Resources

Which of the following terms is used to describe the resources used to produce a product or service?
a) Input
b) Output
c) Production
d) Operations

Which of the following terms is used to describe the quantity, or amount, produced during a given time?
a) Output
b) Input
c) Operations
d) Production

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