Download Depression is BEST defined as

Which is a basis for demographic
segmentation?
A.
B.
C.
D.
Benefits derived
Income
Life Style
Personality
0%
0%
0%
0%
Information about the geographic,
demographic & economic characteristics
of a trading area should be included in
what part of the business plan?
A.
B.
C.
D.
Executive Summary
Industry/market analysis
Management team plan
Product/service plan
0%
0%
0%
0%
The financial statement that shows
the movement of money in and out
of the business is the:
A.
B.
C.
D.
Break-even point
Cash flow
Income
Net profit
0%
0%
0%
0%
All new worker’s of Logan’s Steakhouse
attend an orientation to make them
aware of company policies & procedures.
Logan’s demonstrates ethical
responsibility towards:
A.
B.
C.
D.
Community
Customers
Employees
Management
0%
0%
0%
0%
The Food Lion purchased a case of candy
bars from its candy supplier for $21.60.
The case consists of 72 bars. The Food
Lion then resells each bar for $1.00. What
is the cost of goods sold per pack?
A.
B.
C.
D.
25
30
50
75
cents
cents
cents
cents
0%
0%
0%
0%
Buoy’s Restaurant sets aside $400 a
month to cover unexpected
expenses. This represents a/n:
A.
B.
C.
D.
Contingency fund
Inventory account
Personal saving account
Start-up fund
0%
0%
0%
0%
Profit is the revenue left after
the:
A.
B.
C.
D.
Employee salaries have been paid
Costs of goods sold has been paid
Revenue has been calculated
Expenses of running the business have
been paid
0%
0%
0%
0%
Which section of the business plan
discusses the personal qualifications
of the entrepreneur?
A.
B.
C.
D.
Industry/market analysis
Management team plan
Marketing plan
Operational plan
0%
0%
0%
0%
On the job, Steve asks another employee
to ring up his purchases so that he will
not be accused of stealing from the
business. He is practicing good:
A.
B.
C.
D.
Community relations
Business ethics
Customer relations
Human relations
0%
0%
0%
0%
A business plan can provide an
entrepreneur with a start-up:
A.
B.
C.
D.
Blueprint
License
Operation
Profit
0%
0%
0%
0%
Effective performance evaluations
should:
A.
B.
C.
D.
Focus on the supervisor’s plans for future projects
Identify only the areas needing improvement
Assess employee strengths and weaknesses and
provide feedback for improvement
Not include input from the employee
0%
0%
0%
0%
What segmentation technique is being
used when a sporting goods store
promotes its products to the “sports
enthusiast”?
A.
B.
C.
D.
Behavioral segmentation
Demographical segmentation
Geographical segmentation
Psychographic segmentation
0%
0%
0%
0%
What are contingency funds?
A. Assets that cannot be sold
B. Funds donated to the business
C. Cash that is set aside for unexpected
purchases for the business
D. Money made from the sale of stock
0%
0%
0%
0%
Determining how to move your product
from the producer to the consumer
relates to which component of the
marketing mix?
A.
B.
C.
D.
Place
Price
Product
Promotion
0%
0%
0%
0%
When the price of airline tickets
decreases, there is an increase in travel.
This trend can assist the airline in
forecasting future ticket sales. This is:
A.
B.
C.
D.
Break-even point
Economic outlook
Product positioning
Sales quota
0%
0%
0%
0%
The amount of money left after all the
costs and expenses for the specific period
of time have been deducted from the
income is:
A.
B.
C.
D.
Balance
Net assets
Net income
Net worth
0%
0%
0%
0%
Deposits paid prior to opening the
business to connect utility services
for a new business are considered:
A.
B.
C.
D.
Fixed costs
Living expenses
Start-up costs
Variable expenses
0%
0%
0%
0%
The proposed business organization,
including the form of business ownership,
is included in which section of the
business plan?
A.
B.
C.
D.
Executive summary
Financial plan
Industry/market analysis
Organizational plan
0%
0%
0%
0%
Which skills will help an entrepreneur
with record-keeping, inventory,
ordering, payroll, and profits?
A.
B.
C.
D.
Communication skills
Decision-making skills
Human relations skills
Math skills
0%
0%
0%
0%
David borrowed $180,000 from his bank
to start his dry cleaning business. His
repayment plan requires payments of
$1,500 a month. How long will it take
David to pay back his loan?
A.
B.
C.
D.
5 years
10 years
12 years
15 years
0%
0%
0%
0%
Entrepreneurs generally have high
expectations for themselves and strive to
achieve those expectations. Thus, they
are characterized as:
A.
B.
C.
D.
Action-oriented
Independent
Inquisitive
Self-demanding
0%
0%
0%
0%
Total fixed costs per unit are $4.50,
selling price per unit is $10.00 and
variable costs per unit are $1.00. The
manufacturer plans to produce 5,000
units. What is the break-even point?
A.
B.
C.
D.
500
2,500
5,000
10,000
0%
0%
0%
0%
When seeking a loan, an
entrepreneur who has capacity:
A. Considers environmental conditions before
applying for the loan
B. Demonstrates the ability to repay the debt
C. Has insurance to cover business losses
D. Has made a personal investment in the
business
0%
0%
0%
0%
After extensive research of trends in related
consumer spending patterns, a business selects
a new and improved version of detergent to sell
in their store. This decision relates to which
component of the marketing mix?
A.
B.
C.
D.
Place
Price
Product
Promotion
0%
0%
0%
0%
Jessica asks many questions and
conducts research when attempting to
solve problems related to her business.
What personal characteristic does this
represent?
A.
B.
C.
D.
Creativity
Inquisitiveness
Persistence
Responsibility
0%
0%
0%
0%
One factor that affects start-up
costs of a new business is:
A. Market share
B. Personal living expenses for the entrepreneur
C. The number of customers who make a
purchase on opening day
D. Whether the business is a retail or wholesale
organization
0%
0%
0%
0%
Andrea is very adept at using
PowerPoint to make presentations to
potential investors in her business.
She is demonstrating:
A.
B.
C.
D.
Basic business skills
Math skills
Problem-solving skills
Technical skills
0%
0%
0%
0%
Conner’s Supermarket has a sign posted in the
meat department informing shoppers of the
potential dangers of eating raw shellfish.
Connor’s is demonstrating ethical responsibility
towards:
A.
B.
C.
D.
Community
Customers
Employees
Senior citizens
0%
0%
0%
0%
A manufacturing plant is forces to layoff 250
employees due to a decrease in sales revenue.
The layoffs result in a decrease in overall
consumer spending throughout the community.
This is an example of which type of external
force affecting the marketing mix?
A.
B.
C.
D.
Consumer attitudes
Economic conditions
Natural forces
Political forces
0%
0%
0%
0%
Total current assets for Howard’s
Hotdogs are $75,000. Total current
liabilities are $32,000. What is the
current ratio of assets to liabilities?
A.
B.
C.
D.
$2.00
$2.34
$2.54
$4.26
0%
0%
0%
0%
Which statement defines a
balance sheet?
A.
B.
C.
D.
A financial statement that shows how a business
balances its payroll
A financial statement that shows how much a business
has earned or lost over a period of time such as a year
A financial statement that shows the flow of money in
and out of the business
A financial statement that shows what a business
owns, what is owes, and how much it is worth at a
particular point in time
0%
0%
0%
0%
What is trade credit?
A.
B.
C.
D.
A form of credit that allows the borrower to repay the
debt anytime he/she has the money
A form of long-term low interest credit through a
financial institution
A form of short-term financing from within the industry
An agreement between the vendor and the borrower
to exchange products in repayment of a debt
0%
0%
0%
0%
To justify the development of a
marketing mix, a market segment
must be:
A.
B.
C.
D.
Measurable, reachable, recognizable, responsive
Measurable, substantial, geographically contained,
responsive
Measurable, substantial, marketable, recognizable
Measurable, substantial, reachable, responsive
0%
0%
0%
0%
What are start-up costs?
A.
B.
C.
D.
Fees paid to support television, magazine, or other
advertising of a franchise
Money left over at the end of the first year of operation
to be used to begin the next year
One-time expenses incurred by the entrepreneur when
beginning a business
Payments made at the beginning of each month
0%
0%
0%
0%
What is the total of expenses if salaries are
$70,000, advertising is $12,000, rent is
$14,000, utilities are $3,600, maintenance is
$1,200, insurance is $1,500, and miscellaneous
expenses are $1,000?
A.
B.
C.
D.
$103,300
$110,300
$113,000
$123,300
0%
0%
0%
0%
XYZ DECA chapter sold $5,800 worth of candy
last year. A 9% increase in sales is projected for
this year based on increased chapter
membership and new candy varieties. XYZ
DECA is projecting sales for this year to be:
A.
B.
C.
D.
$5,220
$6,322
$16,200
$52,200
0%
0%
0%
0%
Business owners must be able to get
along with their employees, make
customers feel welcome, and maintain a
working relationship with business
associates. These are:
A.
B.
C.
D.
Communication skills
Human relations skills
Management skills
Planning skills
0%
0%
0%
0%
The South Shore Grill hosted a dinner
with proceeds being donated to help local
DECA members attend national
competitions. This represents ethical
responsibility towards:
A.
B.
C.
D.
Community
Customers
Distributors
Employees
0%
0%
0%
0%
An advantage of using family and
friends as sources of funding is:
A. The availability of money with little or no
restriction
B. The personal sacrifice required
C. The restrictions and formality of the loan
arrangements
D. The unlimited liability provided
0%
0%
0%
0%
Latoya’s total sales for this week were
$1,239. Latoya’s manager set her quota
for this week 5% higher. How much more
will Latoya have to sell to meet her sales
quota?
A.
B.
C.
D.
$61.95
$96.50
$619.50
$6,195
0%
0%
0%
0%
Which term can be defined as the
conception, pricing, promotion, and
distribution of products and services to
satisfy customer wants and needs?
A.
B.
C.
D.
Entrepreneurship
Marketing
Marketing concept
Target marketing
0%
0%
0%
0%
There are no coffee shops on Hatteras
Island. Mike thinks that a coffee/bagel
shop would have commercial value. His
idea is considered a/n:
A.
B.
C.
D.
Corporation
Mission
Opportunity
Partnership
0%
0%
0%
0%
Which section of the business plan
contains information about the personal
and non-personal promotion for the
business?
A.
B.
C.
D.
Industry/market analysis
Marketing plan
Operational plan
Organizational plan
0%
0%
0%
0%
Deposits paid prior to opening the
business to connect utility services
for a new business are considered:
A.
B.
C.
D.
Fixed costs
Living expenses
Start-up costs
Variable expenses
0%
0%
0%
0%
A loan that is granted to a bank’s
most credit-worthy customers and is
not guaranteed by collateral is a/an:
A.
B.
C.
D.
Grant
Long-term loan
Secured loan
Unsecured loan
0%
0%
0%
0%
The point at which the income from
product sales equals the cost of
making and distributing the product
is:
A.
B.
C.
D.
Break-even
Economic outlook
Market share
Net income
0%
0%
0%
0%
Decisions regarding business image
and positioning relate to which
component of the marketing mix?
A.
B.
C.
D.
Place
Price
Product
Promotion
0%
0%
0%
0%
Dividing consumers into groups
based on life style, personality,
attitudes, values, activities, and
interests is called:
A.
B.
C.
D.
Behavioral segmentation
Demographical segmentation
Geographical segmentation
Psychographic segmentation
0%
0%
0%
0%
The inability to interpret financial
records demonstrates a lack of:
A.
B.
C.
D.
Competence of the entrepreneur
Image development
Management planning
Product/service planning
0%
0%
0%
0%
The study of moral choices and
values is:
A.
B.
C.
D.
Ethics
Honesty
Human relations
Responsibility
0%
0%
0%
0%
Plans for future expansion of the
business are included in which
section of the business plan?
A.
B.
C.
D.
Executive summary
Financial plan
Growth plan
Organizational plan
0%
0%
0%
0%
Initial inventory for the business
is which type of cost?
A.
B.
C.
D.
Fixed cost
Personal cost
Start-up cost
Variable cost
0%
0%
0%
0%
Funding that is borrowed from
family or friends is sometimes
called:
A.
B.
C.
D.
Collateral
Debt funding
Free money
Love money
0%
0%
0%
0%
Which is NOT an example of
operating expenses?
A.
B.
C.
D.
Advertising
Maintenance
Rent
Sales taxes
0%
0%
0%
0%
For which type product would
psychographic segmentation MOST
LIKELY be used?
A.
B.
C.
D.
Camping equipment
Clothing
Groceries
Leather briefcase
0%
0%
0%
0%