Finance & Business Tech DO NOW!

Don't lose points...DO NOW!

posted Sep 4, 2011, 7:06 AM by L Acosta   [ updated Mar 31, 2017, 11:30 AM ]

During the first five minutes of each class period
1.  Complete DO NOW Question of the Day (in your Composition Book)
2.  Update your Word of the Day in your Academic Notebook.
3.  Be prepared to discuss the answers to both

When we have 10 - 25 Do Now questions, you will have a test on the these questions

In your DO NOW Composition Book, using Cornell Notes (two-column format): 
  1. Number each question.
  2. Write the ENTIRE QUESTION in the RIGHT column.
  3. Write the Letter of your ANSWER (A, B, C, or D) in the LEFT column.  
  4. Keep your notebook open and be prepared to discuss the question/answer in class before we begin the day's lesson.
  5. If your answer is correct, write the ENTIRE ANSWER OUT -- NOT JUST THE LETTER!
  6. If you chose an incorrect answer, use your RED PEN to write the ENTIRE CORRECT answer when we review.
    IMPORTANT:  Now you know to focus your studying on the answers you wrote in RED.

1. The business agreement under which a business distributes the goods or services of a parent company is called a
a. Partnership b. Corporation c. Franchise d. Sole Proprietorship 

2. Which of the following message closings is the most appropriate to use for a businessperson who is sending formal e-mail correspondence?
a. THX b. Regards c. Greetings d. Affectionately 

3. What is one reason why an employee might write a business letter?
a. To apply for personal credit b. To accept a social invitation c. To communicate with friends 
d. To sell goods and services

4. An employee who is able to work efficiently and effectively with little or no supervision is displaying
a. empathy b. initiative c. loyalty d. apathy 

5. What information should employees avoid sharing with their coworkers?
a. Operating hours b. Promotional ideas c. Inventory policy d. Current salary

6. Which of the following is a communication technique that supports and encourages a speaker?
a. Taking notes b. Active listening c. Speed reading d. Making comments

7. What is an effective technique for employees to use to extract relevant information from written materials?
a. Develop a rough outline b. Ask frequent questions c. Take notes while reading d. Skim through chapter titles

8. If a hotel has 500 rooms and expects to sell 316, it is forecasting an occupancy rate of
a. 31%           b. 43%            c. 60%           d. 63% 

9. When US farmers send corn and wheat to other countries, these items are considered:
a. imports       b.  productivity       c. exports        d.  services

10. What is the purpose of developing and using graphics in business reports? 
a. To entertain the audience       b. To communicate information
c. To fill up the page layout       d. To highlight reference material

11.  If the demand is so great that consumers will buy regardless of price, a(n)_________ market exists.
a.  Seasonal       b..  Buyer's       c.  Seller's       d.  Equilibrium

12. Susie is not happy with her job because her coworkers are always telling her she doesn't do her share of the work.  Susie's feelings are the result of:
a.  negative feedback    b. consideration  c. lack of skill     d. cooperation.

13. Social responsibility is the duty of business to
a. provide social activities for employees.       b. contribute to the well-being of society.
c. contribute to product development.        d. provide educational loans to employees.

14. When Matthew receives a check four times a year for income he has earned on his stock investments, he is receiving _________.
a. credit.       b. dividends.       c.   deposits.      d. cash.

15. When a producer changes the shape of a product, this creates a _________ utility.
a.  time      b. distribution       c. possession       d.   form

16. Many business policies are designed to attract customers by making the purchasing experience more convenient for them. These are know as __________ policies.
a.  flexible       b.  employee       c.   product      d. service

17. Which is an example of an economic service?
a.  Watch      b. Haircut   c. Pen     d. Hat

18. A legal issue associated with the use of information might involve the violation of __________ laws.
a.  patent        b. copyright       c.  trademark        d.  contract

19. What type of action may cause an employer to dismiss an employee?
a. Forgetting to reorder supplies    b.  Asking for additional training 
c. Requesting a promotion                d.  Misusing company benefits

20. An example of an economic resource is
a. equipment.     b. tools.      c.   buildings.      d. wood.

21. What kind of customer would make the following statement: “I know this product is available in other sizes. I don’t care what the brochure says.”
a. Suspicious     b. Domineering/Superior      c.   Slow/Methodical      d. Dishonest

22. In an employment evaluation, new employees have to identify their self-concept. What are some examples other could use for identifying self-concept?
a. Visualizations     b. Affirmations      c.   Abilities      d. Physical traits

23. Which of the following is a way the productivity of an individual worker can be measured:
a.  By dividing the dollar totals of the sales by the costs of making all of those sales   b.   By dividing the total number of products produced by the number of production steps
c.   By dividing the number of customers served by the number of hours an employee worked   
d.  By dividing the dollar totals of sales by the number of salespeople who made the sales

24. Which of the following is classified as an operating expense:
a.   Costs of utilities    b.   Costs of preparing items for sale
c.   Costs of goods sold    d.  Cost of raw materials

25. A basic economic principle behind our private enterprise system is 
a.   the freedom to compete.    b.  government regulation
c.   gross profit.    d.  the satisfaction of customers.

26. When organizing information to present in a business report, it is effective to 
a.   develop an outline.   b.  interpret the data.
c.   remain objective.   d.  determine the purpose.

27. What part of human resources management includes locating and hiring employees to perform the jobs that are necessary in order for a business to operate?
a. Planning        b. Staffing       c.  Directing        d.  Organizing

28. Government owns the basic means of production but there is some private ownership of businesses under
a. entrepreneurship.        b. communism.       c.  capitalism.        d.  socialism.

29. Which of the following is a businesslike way for employees to handle a situation in which they must obtain information requested by customers and call the customers back:
a. Tell the customer exactly when they will be called
c. Explain how much effort will be required to get the requested information 
b. Ask the customers when it would be convenient to call them 
d. Ask the customers to call back if they don’t receive a call within 24 hours

30. An employer who thinks that all young people are lazy and poorly trained is an example of
a. discrimination.        b. prejudice.        c.   hostility.         d. harassment.

31. When reviewing your life experiences to help access your strengths and weaknesses, look for behavioral
a. choices.       b. patterns.       c.   talents.         d. mistakes.

32. The ability to demonstrate interest and enthusiasm often leads to greater
a. personal integrity.       b. individual recognition.      
 personal achievement.         d. emotional instability.

33. A responsible employee who realizes that s/he has given a fellow employee the wrong answer to a work question would handle the situation by
a. refusing to answer questions in the future.      
 letting the other employee figure it out.     
pretending that s/he gave the right answer.        
apologizing and giving the right answer.

34. Which of the following responses to a difficult situation would damage your professional image:
a. Controlling your facial expression      b. Listening without interrupting   
Showing empathy towards others        d. Using inappropriate language

35. Changes in the values, tastes, and habits of Americans is a definition of _______ change.
a. economic     b. social       c.  governmental         d. technological

36. The owner of a company would like to raise money for expansion by selling stock in the business. In order to do this, s/he would need to
a. form a corporation     b. offer a franchise     c. form a partnership     d. have unlimited liability

37. For an employee to follow directions that s/he is being given about how to do a new job properly, the employee must
a. avoid asking any questions.    b. evaluate what is being said.   
c. prepare to give feedback.       d. focus on the message’s content.

38. Communication is best defined as
a.   the exchange of ideas and information.     b. the transfer of feelings.
c.  signals and gestures.    d.  printed material.

39.What type of communication style is usually appropriate for evaluation or counseling interviews with employees?
a.  Routine     b. Casual     c.  Formal     d.  Technical

40. All calls coming into a business should end as pleasantly as possible in order to 
a. make the best use of your time.     b. leave a good last impression with the callers.
c. help you to get a good review.     d.  provide callers with accurate information.

41. Why is it often important to take notes during meetings or presentations?
a. Writing keeps the mind focused.     b. Speaker is difficult to understand. 
c. Audience needs something to do.     d.  Information will be needed later.

42. Which of the following is an example of a textual graphic that often is used in a business report:
a. Pictograph     b. Flowchart      c. Map     d.  Pie chart

43. What is one reason why an employee might write a business letter?
a. To apply for personal credit     b. To accept a social invitation
c. To communicate with friends     d.  To sell goods and services

44. Communication between two employees with the same level of authority in the business is __________ communication.
a. Vertical       b. Horizontal      c.  External         d. Departmental

45. A supervisor e-mails his/her staff members to inform them about a meeting they must attend next Tuesday. This is an example of
a. external networking.      b. downward communication
c. invasive messaging.     d.  lateral interaction.

46. The primary reason customers give for not returning to a business is a lack of
a. customer-service personnel.     b. available parking.
c. advertised merchandise.     d.  courtesy from salespeople.

47. Emphasizing customer service can help a business to be
a. competitive.       b. innovative.      c.  objective.        d. possessive.

48. Why is it important for employees to effectively communicate information about the business to customers?
a. To build morale     b. To display integrity
c. To provide service     d.  To promote teamwork

49. In order to handle customer inquiries about the location of goods throughout the business, the salesperson should know the location of all
a. offices.    b. colors.      c. departments.     d.  sizes.

50. A rule or guideline that tells a firm’s managers, employees, and customers what is expected of them is known as a 
a. human resources     b. cultural trend.     c. sales.      d. business policy.

51. Which of the following is often the best way for an employee to handle the slow/methodical type of difficult customer:
a. Be brief.     b. Ask their advice     c. Summarize benefits      d. Let the customer do the talking

52. Which of the following are the three major areas of customer complaints:
a. Labeling, faulty design, and mispricing     b. Improper decisions, oversight, and service 
 Product, personnel and the business      d. Poor service, inaccurate forms, and rudeness

53. One way a company can reinforce its image is by
a. identifying economic resources.     b. developing a financial plan.    c. conducting a competitive analysis     d. training its employees

54. Desires that can be satisfied without spending money are known as
a. consumer goods     b. tangible objects      c. non-economic wants     d. economic wants

55. One of the factors that limits the production of capital goods is the 
a. availability of labor     b. method of transportation.      
season of the year.     d. type of research.

56. Which of the following situations represents a non-economic activity:
a. Working at a restaurant     b. Buying gasoline for a lawn mower      
Trading in a car      d. Thinking of things to do

57. Making Christmas fruitcakes available in advance of the holiday season creates ______ utility.
a. time    b. place      c. form      d. possession

58. A DECA chapter purchased seven-dozen donuts to sell at school on Tuesday. Six-dozen donuts were sold. What do the six-dozen donuts represent?
a. Surplus    b. Supply     c. Demand      d. Capital

59. A manufacturer is a type of business that
a. sells raw goods for their producers.    
b. turns raw goods into useful products.     
does not make use of raw goods.    
d. keeps raw goods in their original forms.

60. A group of individuals wants to open a museum that will display items from early settlers of the area. The group will charge just enough admission to pay the expenses of operating the museum. Will the museum be a business?
a. No, the museum will not be considered a business.
b. No, the museum will be a charitable institution. 
c. Yes, the museum will be a not-for-profit business. 
d. Yes, the museum will be a for-profit business.

61. Which of the following is a characteristic of private enterprise that enables consumers to buy quality products at fair prices:
a. Profit motive    b. Unlimited resources     c. Inflation     d. Competition

62. Monies received by businesses from the sale of goods and services are called
a. interest    b. dividends     c. income.     d. profits.

63. Which of the following is an uninsurable risk:
a. Damage to business facilities    b. Public liability     
Changes in customer buying habits     d. Personal injury

64. When manufacturers give back part of the purchase price of an item to the customer, the manufacturers are engaged in 
a. offering rebates.    b. non-price competition      c. clearance sales.    d. price fixing.

65. Which of the following is a positive effect of government regulation:
a. Increased inflation    b. Price controls      c. Unfair competition    d. Legal protection.

66. Nick plays on the school’s basketball team and enjoys being with his teammates. However, Nick is the shortest person on the team and feels insecure playing in front of the school fans. What can Nick do to develop more self-esteem?
a. Practice new techniques    b. Write affirmations      c. Exercise regularly    d. Read sports magazines

67. Seeing the bright side of things is an example of
a. industriousness.    b. organizational skills     c. positive attitude    d. loyalty

68. What is one factor that contributes to people's interest in and enthusiasm for different things?
a. Personality    b. Credibility     c. Sincerity    d. Integrity

69. Employees who demonstrate initiative consistently can expect coworkers and supervisors to give them more
a. feedback    b. assistance.    c. criticism.    d. respect.

70. Which of the following is a situation where acting responsibly is mandated by law:
a. You must decide whether or not to cheat on your chemistry test. 
b. You must decide whether or not to drink with friends at a party. 
c. You must decide whether or not to turn in the money you found on the ground. 
d. You must decide whether or not to lie to your parents about breaking curfew


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