2000 Business ProceduresPage 1
1. Recovery is a phase of the business cycle in which unemployment begins to decrease, demand for goods and services increases, and gross domestic product begins to rise. / a. True / b. False2. Code of ethics is a statement of values and rules that guides the behavior of employees or members of an organization. / a. True / b. False
3. Desktop publishing is a process of writing and designing high-quality publications with the use of microcomputers. / a. True / b. False
4. Word processing software is a program used to create and revise written documents. / a. True / b. False
5. An operating budget describes the financial plan for the year-to-year operations of a business. / a. True / b. False
6. White-collar crime is an illegal act performed by office and/or professional workers while at work. / a. True / b. False
7. Cyberspace is the same thing as virtual reality. / a. True / b. False
8. The Bureau of Labor Statistics estimates that by the year 2005 nearly four out of five jobs will be in service industries. / a. True / b. False
9. A natural, inborn aptitude to certain things is known as ability. / a. True / b. False
10. The age of available workers and immigration are two societal factors that do not influence job opportunities. / a. True / b. False
11. A business that has the right to use the name and sell the products of another in a certain area is called a nonprofit organization. / a. True / b. False
12. Market research uses demographics to determine where people live and how much they spend. / a. True / b. False
13. Most federal revenues come from non-tax fees like fishing licenses. / a. True / b. False
14. The Zone Improvement Program code is a seven-digit number that identifies each postal delivery area in the United States. / a. True / b. False
15. A resume is a detailed summary of the education, work experience, and other information highlighting an applicant's qualification for a job. / a. True / b. False
16. Under contract law, minors cannot be held liable for their debts. / a. True / b. False
17. The four functions of management are organizing, financing, directing and controlling. / a. True / b. False
18. All state and national banks belong to the Federal Reserve System. / a. True / b. False
19. Robotics is an application of artificial intelligence. / a. True / b. False
20. The Equal Credit Opportunity Act states that everyone is entitled to the same amount of credit. / a. True / b. False
21. The Big Apple Corporation is located in an old building constructed 30 years ago and has been cited by the local county licensing bureau for not meeting current codes. The building lacks accessibility for persons who are physically challenged; therefore, modifications must be made to meet the current ADA standards The following items need to be addressed:
1. Construction of ramps leading to front door and side door, $ 18,000
2. Four doorways to be widened to accommodate wheelchairs at a cost of $10,225
3. Equipment to be purchased to accommodate physically challenged persons, $17,750
21. Determine the total cost to be incurred by the Big Apple Corporation based on an annual operating budget of $525,250. What percentage of this budget will be spent for these modifications? / a. 8.2 / b. 7.5 / c. 8.0 / d. 8.75 / e. 9.2
22. Which of the following is not one of the four responsibilities managers in an office environment generally have? / a. Planning / b. Organizing / c. Secret keeping / d. Leading / e. All of these are responsibilities of managers
23. Data consist of / a. numbers, letters and words. / b. e-mail. / c. activities. / d. hardware. / e. multi-media systems.
24. Change often results in / a. acceptance. / b. opposition. / c. rejection. / d. a, b, and c / e. a and c only
25. When both sides in an argument change their position to reach an agreement, this is called / a. a conflict. / b. a compromise. / c. an uncertainty. / d. a code of conduct. / e. distancing.
26. A data storage device that uses laser optics for reading data is known as / a. CPU. / b. disk drive. / c. program. / d. CD-ROM / e. bytes.
27. You believe your desired life-style will require a high-paying job. You have heard that auto mechanics make $24 an hour. How much is that per year if you work 40 hours a week for 50 weeks? / a. $34,800 / b. $38,480 / c. $48,400 / d. $45,080 / e. $48,000
28. Mary Lynn Doles works for a public relations firm. It is her responsibility to send out 75 letters every day for the next three weeks. If she works five days a week, how many letters will she have to send out at the end of the three weeks? / a. 375 letters / b. 1,125 letters / c. 750 letters / d. 1,025 letters / e. 575 letters
29. Bill Davis becomes ill with a terrible disease that leaves him unable to work for several months. Which type of coverage afforded by the Social Security Act would provide assistance to him? / a. Old-age insurance / b. Survivor's insurance / c. Disability insurance / d. Health insurance (Medicare) / e. Workers compensation
30. Legal tender means / a. legal and official proof. / b. interest rates above those allowed by law. / c. a gift in a will. / d. money / e. request for payment
31. To find information about the types of opportunities available for your future in a given occupation, which of the following sources would you consult? / a. Occupational Outlook Handbook / b. Bureau of Census / c. Dictionary of Occupational Titles / d. Standard Industrial Classification / e. a, b, and c
32. The following consists of how many spelling errors?
The mastery of spelling is an on-going study. To streghten your spelling skills, keep a record of all words you have to look up in the dictionary. Write each of these on a 3x5 card and ad the following information:
1). The whole word and derivitives
2). The definition and useage
3). The syllable that will be accepted
Then file the card behind the apropriate letter in the box with alfabetic guides. A box of this kind can be perchased inexpensvly in a stationery store or department store.
32. How many errors / a. Five errors / b. Seven errors / c. Ten errors / d. Three errors / e. Nine errors
33. When our government is taking in as much tax money as it has money going out in spending, we have a / a. balanced budget. / b. surplus. / c. deficit. / d. transfer payment. / e. economic system.
34. Which of the following processes is utilized in the decision-making process? / a. New options / b. Defining the problem / c. Identify and rank the goals / d. b and c / e. a and b
35. Which of the following traits would a manager expect of workers? / a. To be productive / b. To show initiative / c. To produce high-quality work / d. To adapt to new situations / e. All of the above.
36. Correct telephone behavior requires consistency and a positive attitude. Which of the following tip(s) should you employ when you answer the telephone? / a. If you must put the caller on hold, check back every five minutes. / b. Speak expressively with feeling, friendliness and interest. / c. Use informal address, such as Jimmy. / d. Say, "Call me back later, I'm on another call." / e. Answer within ten rings.
37. An important aspect of the budget process is / a. saving money. / b. preparing a budget by estimating income and expenses. / c. time factor. / d. reduce spending. / e. fixed payments.
38. Job sharing is / a. a jobber who sells primarily to retailers. / b. two or more companies working on a single project. / c. an arrangement in which the responsibilities and hours of one position are carried out by two people. / d. an obligation of one party to reimburse another party for losses which have incurred or which may occur. / e. a commercial term under which the seller's obligation are fulfilled when the goods reach a point specified in the contract.
39. The federal government agency that has the primary responsibility for regulating advertisements is / a. Better Business Bureau. / b. National Advertising Review Board. / c. Federal Trade Commission. / d. Bureau of Standards. / e. Chamber of Commerce.
40. A laptop computer sells for $2,500. The printer costs $295 and the yearly maintenance fee is $50. How much will the buyer save if there is a two percent discount on the computer and printer for paying cash within ten days of purchase? / a. $54.35 / b. $55.25 / c. $57.90 / d. $56.87 / e. $55.90
41. What does the term magnetic tape refer to? / a. A storage device, usually stored in a cartridge, reel, or cassette / b. A device that allows you to record sounds as input to your computer / c. A hand-held input device that looks like a pen / d. A common input device that allows you to communicate to a computer / e. A storage device, usually a stack of disks enclosed in a case
42. Freddy, who is 16 made a deposit of $250 on a used car. A week later he changed his mind, but the dealer refused to return his deposit. In this situation, what element of a contract is missing? / a. Agreement / b. Consideration / c. Competent parties / d. Legal purpose / e. Form
43. If weekly sales receipts for the Turner Gas Station are $1,875.37, $3,168.19, and $2,046.82; what income is needed in the fourth week to meet a four-week goal of $10,000? / a. $4,921.45 / b. $1,290.85 / c. $1,147.60 / d. $2,750.45 / e. $2,909.62
44. What is Sally Jo paid on a clerical job if she works 28 3/4 hours per week for six weeks at an hourly rate of $7.46 per hour? / a. $326.41 / b. $1,286.85 / c. $1,147.60 / d. $565.85 / e. $656.78
45. A VCR that sells for $565 is reduced in cost by 20 percent. What is the new selling price? / a. $372 / b. $650 / c. $452 / d. $542 / e. $524
46. If a sales tax on a purchase is 6.2 percent, what tax would you pay on a camera costing $129.95? / a. $9.45 / b. $7.75 / c. $8.74 / d. $8.06 / e. $8.45
47. On June 1, your checkbook balance was $156.89. During the month you made a deposit of $215 and you wrote a check for $51.82. What was your ending balance on June 30? / a. $450.07 / b. $320.07 / c. $350.07 / d. $420.07 / e. $540.07
48. The "B:" in the command "Format B:" is referred to as a / a. format. / b. parameter. / c. prompt. / d. function.
49. Filing includes / a. inspecting. / b. indexing. / c. coding. / d. sorting. / e. All of the above
50. If a business had $15,500 in revenues and a net profit of $13,500, its profit ratio would be / a. 87 percent. / b. 57 percent. / c. 78 percent. / d. 97 percent / e. 75 percent.
51. Telecommunication is defined as the use of / a. . automated equipment with telephone systems and communication technology. / b. telephone systems only. / c. computer equipment only. / d. photocopier equipment only. / e. printing equipment only.
52. Jill Mackensey has been given the task by her supervisor to decide whether to use desktop publishing software rather than integrated software. What issue should she not consider in deciding which software to utilize? / a. The memory requirements of the software package / b. The need for merging text / c. The need for graphics / d. The need for templates / e. Whether the menu has a Help command.
53. The following paragraph consists of how many errors in capitalization?
The statue of liberty was designed as a gift to America. The people of trance contributed $300,000 toward the cost of the statue to memorialize the alliance offrance and the United States during the american revolution.
53. How many errors? / a. Two errors / b. Five errors / c. Four errors / d. Eight errors / e. Six errors
54. What is the purpose of word wrap? / a. To start a new paragraph / b. To end a line at a specific place / c. Words are wrapped around the next line when they will not fit on the current line. / d. To key in words / e. Data in the status bar changes to show your current position on the line
55. What is the purpose of the recycle bin? / a. Show the files and folders located in the folder. / b. Leaves the dialog box open for the next activity. / c. Gets rid of files and folders you no longer need. / d. Renames and copies files. / e. Closes all files.
56. Which of the following statements best describes E-mail? / a. Lists upcoming events such as athletic competitions and alumni reunions. / b. Message sent to a person and/or a group through an information service or bulletin board. / c. Networked computers communicating with each other using a transmission medium. / d. Wireless telecommunication technology combined with portable computers. / e. Accessing different locations and seeing what is there.
57. Which of the following is not required for data processing? / a. People / b. Data Manipulation / c. Systems / d. Ergonomics / e. Software
58. Your friend's Internet address at work is . What type of employer does she works for? / a. Private business / b. Local school system / c. Commercial bank / d. Government / e. Telephone company
59. What is a chronological file? / a. A list of names of customers and prospective customers in the parts of the county in which they are located / b. Business papers arranged by numbers rather than names / c. A file maintained in the order of time according to the year, month and day / d. A file maintained by the name of the firms / e. A file maintained that is arranged in alphabetic subject file order
60. Parallel construction requires balancing the grammatical structure of a sentence. Which one of the following sentences lacks parallelism? / a. Dr. Pardon attended a meeting in the morning, performed surgery at noon, and enjoyed the ballet in the evening. / b. Her job involved answering phones, taking messages, and writing reports. / c. Johnnie likes to fish, hunt, and he plays golf. / d. Stephen eats breakfast in the morning, lunch at noon, and dinner in the evening. / e. Karen bought three bags of popcorn, two drinks, and three packages of candy.
61. People who work to produce goods and services are called / a. natural resources. / b. human resources. / c. economic resources. / d. capital Resources. / e. wants.
62. Amelia Yeates entered an open 10-K Run sponsored by the local FBLA chapter to raise money needed for the March of Dimes. The 10-K Run drew 110 runners from the FBLA chapter. Each runner paid a $10 entrance fee and $1.50 was to be used to cover publicity and awards; the remainder went to the March of Dimes. How much could the FBLA chapter donate to the March of Dimes? / a. $935 / b. $275 / c. $1,560 / d. $570 / e. $875
63. A used car dealer pays each salesperson a 4.5 percent commission on his or her sales. What commission would a salesperson expect to receive on weekly sales of $7,240.63? / a. $350.66 / b. $700.25 / c. $300.75 / d. $725.38 / e. $325.83
64. Marketing is an important part of the economic system. About half of the dollars spent on goods and services go to marketing activities. Which of the following is not a marketing function? / a. Grading and standardizing / b. Transporting / c. Selling / d. Accounting / e. All of the above are functions of marketing.
65. The multiplier effect that occurs when a business creates new jobs in a community means / a. total growth and income are greater than just the wages of new workers hired. / b. the demand for services always multiplies faster than income. / c. whatever troubles exist are automatically multiplied. / d. no additional demands will be placed for community services. / e. does not improve the quality of life in the community.
66. The Consumer Price Index measures / a. changes in oil prices. / b. changes in interest rates. / c. the change in the price of a market basket of goods and services. / d. demand-pull inflation. / e. cost-push inflation
67. If a person is capable of searching out new tasks and completing them without any supervision, the person shows / a. self-confidence. / b. independence. / c. self-discipline. / d. self-motivation. / e. arrogance.
68. An entrepreneur is a / a. steady worker receiving a regular salary. / b. person willing to assume the risks of a business or enterprise. / c. lender who earns interest on investments. / d. dealer looking for the best deal. / e. competitor cutting prices to increase sales.
69. When you deal with words - reading, speaking, writing, and listening - you are using what type of communication? / a. Nonverbal communication / b. Verbal communication / c. Hearing communication / d. Critical thinking / e. Decision making
70. Jane Hill is a manager for the L&M Co. She goes to New York City on business. She receives a $560 advance for her meals, based on a meal per diem of $40 per day for an expected 14-day stay. The federal per diem meal rate for New York City is $34. Hill stays in New York City for only 12 days. How much must Hill reimburse H& L Co? / a. $72 / b. $40 / c. $80 / d. $34 / e. No monies
71. When Comp Tech advertises a low-priced printer only to lure customers and then to convince customers to buy a more expensive item, the store is practicing / a. promotional selling. / b. recycling. / c. boycotting. / d. conservation. / e. bait and switch.
72. What kind of health insurance covers you if you are injured on the job? / a. Medicare / b. HMO's / c. PPO's / d. Medicaid / e. Workers' Compensation
73. What is the function of a spreadsheet? / a. Changing a document in some way such as deleting, moving, or adding characters / b. A software program you use to process financial or mathematical information / c. A software feature you use to place one object on top of or behind another object / d. A software feature you use to launch a computer program / e. A software feature you use to look at a document in different ways or to display or hide software features on a screen
74. Janice opened a small gift shop. Through hard work and good management, her business prospered and expanded to include several new items. Janice's inventory increased tremendously and became increasingly difficult to control even though she had 10 full-time and 15 part-time employees. Janice read several articles about the use of micrographics and computer systems to maintain inventory records. Which of the following should she ask herself? / a. How would I go about converting my records with each system? / b. Should I dispose of some of the inventory so that I have less to worry about? / c. Should I hire more employees to take care of the situation? / d. Would a micrographics or computerized filing system better help me in my business? / e. a and d
75. The administrative support staff of Terp Service consists of two word processing specialists and a receptionist. The word processing specialists are paid $10.29 per hour and the receptionist is paid $7.88 per hour. They each work 40 hours per week. What total wages do these three workers earn in a week? / a. $1,100.00 / b. $823.20 / c. $411.95 / d. $925.75 / e. $1,138.40