EOPA - Biz Law + Multi Unit

What type of corporation may be owned by just a few people and does not offer its shares for sale to the

general public?

• A. Private

• B. General

• C. Public

• D. Limited

Providing marketing information is an important channel activity. Businesses rely on marketing

information to determine

• A. how intermediaries are performing.

• B. their target markets' needs and wants.

• C. how much to charge for their products.

• D. what to name their products.

What can a business do to determine if there are problems with its customer-service levels in relation to

its product-distribution strategies?

• A. Conduct a break-even analysis

• B. Evaluate its channel members' performance

• C. Analyze the product's quality standards

• D. Examine the organizational chart

A farmer with a produce stand in the yard is an example of a __________ distribution channel.

• A. producer to retailer to consumer

• B. producer to agent to consumer

• C. producer to consumer

• D. producer to wholesaler to consumer

An advantage of using satellite tracking technology in distribution is that it enables businesses to

• A. analyze the contents of packages.

• B. know where shipments are at all times.

• C. determine the delivery drivers' qualifications.

• D. obtain information about competitors.

What is another way to describe financial information that is true, complete, and faithfully represented?

• A. Timely

• B. Understandable

• C. Comparable

• D. Reliable

Which of the following categories of information are found on a balance sheet:

• A. Assets, liabilities, owner's equity

• B. Income, expenditures, profit

• C. Assets, liabilities, margin

• D. Revenues, expenses, profit

Using the cash accounting method, determine the amount of sales that a business would record for one

day if it makes $2,300 in cash sales, has COD sales of $450, and places a $300 special order.

• A. $2,300

• B. $2,600

• C. $2,750

• D. $3,050

The administration of assets refers to decisions about

• A. spending.

• B. accounting.

• C. investments.

• D. financing.

Labor-union negotiations are part of which HR management activity?

• A. Staffing

• B. Compensation and benefits

• C. Training and development

• D. Employee relations