POBF Strictly Business 5.03B

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A business can be described as a(n)

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organized effort to produce goods and services

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A business that exists to fulfill a specific mission or undertaking is called a(n) __________ business.

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nonprofit

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Every business must accomplish which of the following: Produce or provide goods/services, Obtain venture capital, Issue corporate bonds, Trade or sell business assets/property

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Produce or provide goods/services

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Financial analysis occurs when a business keeps accurate expense records.

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keeps accurate expense records

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Human-resources management is demonstrated in which of the following statements: The business gives its preferred customers a special discount, The business takes care of the responsibilities associated with having employees, The business includes top-level managers in long-term planning, The business acts on new information about a competitor

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The business takes care of the responsibilities associated with having employees

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An example of information management is demonstrated when a business uses a working system for

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storing and retrieving information

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TeJuan’s Fishing Shack demonstrates effective information management by accessing a list of fishing equipment appropriate for a particular customer.

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accessing a list of fishing equipment appropriate for a particular customer

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Marketing is demonstrated in which of the following statements: The business prepares for long-term success by planning and organizing, The business meets customers’ needs by offering appropriate products, The business expects to merge with another business in the industry, The business hires qualified employees to perform complex job duties

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The business meets customers’ needs by offering appropriate products

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Franco’s Bread Shop is introducing a new type of sandwich bread to the community this week. Which of the following describes the business activity the bread shop is likely involved in: Collecting information on last year’s new breads, Creating a system for storing new bread recipes, Planning for the long-term results of introducing new breads, Promoting the new bread through advertising?

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Promoting the new bread through advertising

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Operations is demonstrated in which of the following phrases: Keeping accurate financial records, Planning for future success, Producing goods and services, Hiring qualified employees

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Producing goods and services