Business Characteristics Flashcards

According to the segment, how are businesses classified?

Which of the following is an example of a producer?

Which of the following is NOT an example of a processor?

Which of the following is an example of a service firm?

Which of the following is NOT a business department mentioned in the segment?

Which of the following is NOT a step of the employment process in the Human Resources department according to the segment?

Which of the following is NOT a role the Human Resources department plays when helping orient employees?

Evaluating employee performance helps with all of the following EXCEPT which of the following?

Which of the following is NOT a level of Maslow's hierarchy of needs?

Which of the following is NOT a function of management?

According to the segment, why is the Finance and Accounting department important to a business?

Items of value owned by a business are known as which of the following?

Which of the following are the debts or obligations of a business?

Which of the following is NOT a responsibility of the Finance department?

Which of the following is NOT a source of funding?

Which of the following is NOT a component of the marketing mix?

Which of the following are the activities used to persuade consumers they need the product?

Which of the following is NOT a stage of the product life cycle?

Which of the following correctly lists the needs of consumers which should be met?

Which of the following is NOT a role of production and distribution in a company?

An automobile factory does not qualify as a processor; processors typically transform raw materials.
A landscape company is a prime example of a service firm, focusing on providing services rather than products.

"External relations" is not recognized as a business department.
The Human Resources department's employment process excludes negotiating salary and benefits for new hires.
HR does not analyze new employee morale during employee orientation.

"Personal interest" does not appear as a level in Maslow's hierarchy.
Core levels include physical, social, and psychological needs, which must be addressed to satisfy consumers.

Essential for business operations, the Finance and Accounting department manages cash flow, a critical component for survival.
Assets refer to valuable items owned by a business, while liabilities denote the company's debts or obligations.
Finance's responsibilities omit establishing external relations.

Potential sources of funding do not include decreasing owner contributions, as this reduces available capital.

"Perception" is not a component of the marketing mix; key components include product, price, place, and promotion.

Promotion encompasses activities aimed at persuading consumers of the product's necessity.

"Evaluation" is not identified as a stage within the product life cycle, which typically includes development, introduction, growth, maturity, and decline.