FBLA Business Principles

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					2005 SLC Business Procedures                                                                              Page 1
Indicate whether the sentence or statement is True or False.         Mark "A" if True or "B" if False.
1. In the eighteenth and early nineteenth centuries, the             a. True                   b. False
    Industrial Revolution brought about the mass production
    of goods and created the modern industrial organization.
2. A paradigm is defined as a set of assumptions or a frame          a. True                   b. False
    of reference.
3. Lateral communication is feedback of data from lower              a. True                   b. False
    levels in the organization to upper-level management.
4. The grapevine provides only valid information in an               a. True                   b. False
    organization.
5. Most e-mail systems allow the user to broadcast a single          a. True                   b. False
    message to a distribution list.
6. When someone invests most of his or her time and energy           a. True                   b. False
    in a particular activity, a stress-related affliction known as
    burnout could result.
7. The Equal Pay Act of 1963 mandated that differences in            a. True                   b. False
    pay based on gender were legal and could be enforced
    even if the work was equal.
8. Quid pro quo (“this for that”) is a Latin term we have            a. True                   b. False
    come to associate with sexual harassment.
9. Etiquette is a modern behavior that has no basis for being        a. True                   b. False
    practiced in a business office.
10. The Fair Labor Standards Act passed in 1938 is the major         a. True                   b. False
    law affecting compensation.
11. The oldest and simplest organizational structure is line         a. True                   b. False
    organization.
12. A computer has only one type of memory and that is the           a. True                   b. False
    random-access memory (RAM).
13. The dictionary meaning of a word is known as                     a. True                   b. False
    connotation.
14. Duplexing may be explained as printing on both sides of          a. True                   b. False
    the paper.
15. Correspondents should make ample use of emoticons in             a. True                   b. False
    all formal writing since they lend an emotional
    perspective to the work.
16. The U.S. Postal Service began to use the expanded ZIP            a. True                   b. False
    Code, ZIP+4, in the early 1980s.
17. International holidays should not affect the delivery of         a. True                   b. False
    mail to foreign countries because we can account for any
    documents mailed.
18. The major classifications of records to be filed are the         a. True                   b. False
    alphabetic, numeric, subject, and geographic.
19. The leading authority on filing rules is the Association of      a. True                   b. False
    Records Managers and Administrators.
2005 SLC Business Procedures                                                                                                                                     Page 2
20. Plant and equipment are sometimes referred to as fixed       a. True                   b. False
    assets.
21. Jet lag is a condition that a traveler may acquire by        a. True                   b. False
    reading and studying the Official Airline Guide.
22. The accounting equation is Assets = Liabilities + Equity.    a. True                   b. False
23. Ethics are accepted standards of good and bad behavior       a. True                   b. False
    that distinguishes between what is right or wrong.
Mark the correct answer on your Scantron sheet for each of the following questions.
24. The authority-responsibility relationship that links         a. functions of           b. strategic planning    c. chain of command.   d. planning function.
    superiors and subordinates throughout the entire             management.               process.
    organization is known as the
25. Theory X and Theory Y were leadership styles proffered       a. Frederick Taylor.      b. Douglas McGregor.     c. Steven Covey.       d. William Ouchi.
    by
26. Formal authority to tell others what to do that is granted   a. position power.        b. personal power.       c. office politics.    d. problem solving.
    by an organization is called
27. Verbal and nonverbal responses that the receiver gives by a. filtering.                b. feedback.             c. upward              d. the grapevine.
    further communicating with the original sender or another                                                       communication.
    person is known as
28. A _________________ is a machine that can transmit           a. radio                  b. transmitter           c. facsimile           d. video recorder
    and receive documents over regular telephone lines.
29. A(n) ___________________ is a written communication          a. voice mail             b. teleconference        c. agenda              d. memorandum
    document that is used inside (internally) a company.
30. A _____________________ is a step-by-step                    a. practice               b. procedure             c. policy              d. value
    standardized pattern of behavior that one follows when
    completing a task or activity.
31. An employee who is usually not paid overtime and is          a. compensated            b. exempt                c. nonexempt           d. overpaid
    classified in an administrative or professional position is
    a(an) ___________________ employee.
32. Which of the following was organized to represent the        a. Grievance policy       b. Lockout               c. Labor unions        d. Negotiations
    employees, and not management, of a company?
33. ________________ is the movement of information from a. Management                     b. Clustering            c. Automation          d. Workflow
    one person to another in an organization.
34. The graphic presentation of the formal structure of an       a. departmental budget.   b. organization chart.   c. chain of command.   d. line-and-staff
    organization is the                                                                                                                    organization.
35. One of the most used organizers for keeping reminders        a. pending                b. reading               c. tickler             d. alphabetic
    according to date is the __________ file.
36. The legal right of authors and artists to protect their work a. copyrighting.          b. duplexing.            c. reprographics.      d. laminating.
    against unauthorized usage is a process known as
37. The U.S. Postal service provides a rapid delivery, usually a. Certified Mail.          b. Registered Mail.      c. Express Mail.       d. Priority Mail.
    next-day delivery, through the service called
38. The system in which files are placed in one location that    a. alphabetic             b. decentralized         c. records             d. centralized
    is convenient for a group of people to access when they
    work with the same information, is known as a(an)
    __________________ filing system.
2005 SLC Business Procedures                                                                                                                                                    Page 3
39. A fund set up for miscellaneous expenses in an office is a      a. petty cash fund.        b. party fund.               c. slush fund.                d. master budget.
40. A balance sheet is a financial report that contains             a. capital.                b. income.                   c. expenses.                  d. commissions.
41. One of the documents that is prepared for an official           a. agenda.                 b. schedule.                 c. checklist.                 d. tickler.
    meeting is the
42. If you are in Scranton, Pennsylvania, and want to place a       a. 6:30 a.m.               b. 10:30 a.m.                c. 12:30 p.m.                 d. 1:30 p.m.
    call to your Oregon division, which opens at 9 a.m., what
    time would you need to place the call from your office to
    reach your division at 9:30 a.m.?
43. Following the job interview, you should                         a. call to schedule the    b. send an e-mail saying     c. write a thank-you letter   d. send a box of candy to
                                                                    second interview.          you will accept the job if   to emphasize your             the interviewer.
                                                                                               offered.                     qualifications and draw
                                                                                                                            attention to your
                                                                                                                            application.
44. A business that is owned by one person is called a              a. corporation.            b. proprietorship.           c. limited partnership.       d. limited liability
                                                                                                                                                          partnership.
45. Net income on an income statement is calculated by              a. adding assets to the    b. adding liabilities and    c. finding the retained       d. subtracting costs and
                                                                    liabilities.               equity.                      earnings over a period of     expenses from revenue.
                                                                                                                            time.
46. A sales invoice which states the terms as n/10 EOM              a. net 10 days after the   b. net after the discount    c. net 10 days after the      d. full payment is due
    means                                                           sale is ended.             period.                      end of the month.             during the month.
47. Which of the following assets would a company not be            a. Land                    b. Computer                  c. Delivery truck             d. Furniture
    allowed to depreciate for tax purposes?
48. A patent gives the owner exclusive rights to manufacture        a. 50 years.               b. 40 years plus the         c. 17 years.                  d. infinity.
    and sell an item or use a process for                                                      owner’s age at death.
49. If an employee’s salary is $340 a week with total monthly       a. $   80                  b. $1,100                    c. $ 320                      d. $1040
    taxes, insurance, and other deductions amounting to $260,
    which amount below is the closest for the monthly
    income for this employee?
50. A car that is priced at $16,900 is offered for sale less        a. $ 2,535                 b. $14,365                   c. $19,435                    d. $25,350
    15%. What will be the price of the car?
51. A group of related tables is called a                           a. field.                  b. database.                 c. field value.               d. common field.
52. A document that is issued by a government that allows its       a. passport.               b. visa.                     c. driver’s license.          d. certificate of entry.
    citizens to travel to foreign countries if permitted by those
    countries is a
53. Titles of books, newspapers, and magazines are usually          a. italicizing them.       b. capitalizing them.        c. underlining them.          d. lowercasing them.
    identified in typed copy by
54. An Internet address is known as a(an)                           a. URL.                    b. hypertext.                c. http.                      d. Web.
55. A letter style in which all lines begin at the left margin is   a. modified block          b. block                     c. AMS                        d. social
    the ____________ style.
56. In a letter which uses the mixed punctuation style,             a. a comma would follow    b. no mark of punctuation    c. a semi-colon would be      d. a colon would follow
                                                                    the salutation and the     would be used after the      used after the salutation     the salutation and a
                                                                    complimentary close.       salutation or                and a comma after the         comma would follow the
                                                                                               complimentary close.         complimentary close.          complimentary close.
2005 SLC Business Procedures                                                                                                                                                     Page 4
57. To format a Bibliography, References, or Works Cited         a. numerically.                b. by title, then by author.   c. alphabetically.           d. by date and publisher
    page in a report correctly, the sources are listed                                                                                                      only.
58. The written record of announcements, reports,                a. the minutes.                b. the agenda.                 c. the procedures.           d. a summary.
    discussions, and decisions made during a meeting is
    known as
59. An ellipsis is used to show                                  a. omissions in quoted         b. hesitation in printed       c. the exact words of a      d. Both A and B
                                                                 material.                      material.                      person.
60. All of the following are good telephone techniques           a. picturing the listener as   b. being ready to talk and     c. continuing to key as      d. smiling as you speak
    except                                                       you speak.                     to listen.                     you talk on the phone.       on the phone.
61. The ability to interact with three or more people during a   a. call forwarding.            b. a conference call.          c. a toll free number.       d. call blocking.
    telephone call is known as
62. Transmitting an exact copy of a printed, written, or drawn   a. facsimile.                  b. cell phone.                 c. caller ID.                d. call trace.
    document over the telephone lines is possible by use of a
63. Which resume would you select to send to a company in        a. Functional                  b. Chronological               c. Combination               d. Skills
    order to show your years of work experience to the bets
    advantage?
64. The federal agency that is tasked to oversee consumer        a. Federal Trade               b. Federal Aviation            c. Federal                   d. Federal Drug
    protection is the                                            Commission.                    Commission.                    Communications               Administration.
                                                                                                                               Commission.
65. Which statement is false about instant messaging?            a. Instant messaging is an     b. Instant messaging is        c. Instant messaging is      d. Instant messaging may
                                                                 electronic                     more information than e-       not likely to used for       eliminate telephone tag
                                                                 communication option.          mail.                          business messages.           since you can verify if a
                                                                                                                                                            person is online before
                                                                                                                                                            you send a message.
66. When composing e-mail messages, all of the following         a. be casual,                  b. discuss one topic per e-    c. state the message         d. edit and proofread
    guidelines would be appropriate except:                      conversational, and            mail.                          concisely and clearly.       carefully.
                                                                 emotional.
67. A complete dictionary is known as a(an)                      a. abridged dictionary.        b. unabridged dictionary.      c. pocket dictionary.        d. desk dictionary.
68. Which word(s) below is(are) substitute(s) for a noun?        a. I, we, you                  b. pronouns                    c. Tony                      d. Both A and B
69. Which sentence below illustrates the subject of the          a. Our largest supply          b. The athletic shoe           c. The new manager           d. How many e-mail
    sentence correctly by the underline?                         store will close next          makers convinced us to         received the shipment.       messages did you
                                                                 week.                          order those shoes.                                          receive?
70. The name and address of the person or organization           a.. return address.            b. attention line.             c. inside address.           d. letterhead.
    receiving a letter is known as the
71. When a letter or memorandum extends beyond one page,         a. the name of the             b. the name of the sender      c. the name of the           d. the name of the
    the second and succeeding page heading should consist of     addressee and page             and the date.                  addressee, the page          addressee, the page
                                                                 number.                                                       number, and the e-mail       number, and the date.
                                                                                                                               address.
72. The salutation and complimentary close are omitted in the    a. block style letter.         b. modified block style        c. simplified letter (AMS)   d. All are correct
                                                                                                letter.                        style.
73. A document that is issued by an authorized official of a     a. Passport                    b. Visa                        c. Driver's license          d. Medical record
    country to citizens to allow them to enter and exit other
    countries.
2005 SLC Business Procedures                                                                                                                                                    Page 5
74. The U.S. Postal Service recommends that envelope             a. handwritten for clarity    b. typewritten in all       c. typed in lower-case          d. typed to match the
    addresses be                                                 in blue ink.                  capitals with no            letters to facilitate the       inside address.
                                                                                               punctuation.                OCR usage.
75. Land or anything permanently affixed to it is known as       a. personal property.         b. chattels.                c. custody.                     d. real property.
76. A person who inherits property from the estate of a          a. an heir.                   b. an administrator.        c. a fiduciary.                 d. a creditor.
    decedent is
77. Title to real property is transferred from one person to     a. bond.                      b. tract.                   c. contract.                    d. deed.
    another by a formal written document known as a
78. When a city enacts a law, it is known as a(an)               a. bylaw.                     b. ordinance.               c. variance.                    d. zoning clause.
79. The most common type of endorsement that millions of         a. blank endorsement.         b. restrictive              c. full endorsement.            d. qualified endorsement.
    people negotiate checks with on a daily basis is the                                       endorsement.
80. Marla sells kitchen equipment and supplies to large chain    a. $15,750                    b. $ 750                    c. $   500                      d. $       75
    restaurants. She is paid a 5% commission of her total
    sales. Last week her sales totaled $15,000. What were her
    gross earnings?
81. People who own shares in a corporation are known as          a. shareholders.              b. stockholders.            c. sharecroppers.               d. Both A and B
82. A narrow term that applies to the use of graphics in         a. multimedia.                b. drawings.                c. image management.            d. printing.
    documents is
83. To find the working capital of a business, calculate         a. current assets minus       b. current assets divided   c. first the operating ratio.   d. the acid-test ratio.
                                                                 current liabilities.          by current liabilities.
84. A form of protection against an unexpected financial loss    a. hazard protection.         b. the premium paid.        c. insurance.                   d. a type of risk.
    is
85. When a writer revises a draft, which of these issues         a. Spelling and               b. The overall flow of      c. The structure of each        d. A specific word choice
    should he or she consider?                                   mechanics                     ideas and paragraphs        sentence                        for each idea
86. A company may borrow money from the public by selling        a. Bonds are a promise to     b. Bonds state a date of    c. Bonds have a fixed rate      d. Bonds do not obligate
    bonds. Which statement about bonds is false?                 repay the face value (par     repayment (maturity).       of interest per year.           the company to repay the
                                                                 value).                                                                                   money; therefore,
                                                                                                                                                           investors are eager to
                                                                                                                                                           own them.
87. When leaving a place of employment, you should               a. tell your superior after   b. be prepared to express   c. make your own rules          d. tell your coworkers
                                                                 you have discussed it         positive comments during    about how much notice to        how much money you
                                                                 with your colleagues.         the exit interview.         give the employer.              will be making at the new
                                                                                                                                                           job as you express your
                                                                                                                                                           negative feelings about
                                                                                                                                                           your current employer.
88. The basic central banking system in use today was            a. 1900.                      b. 1864.                    c. 1913.                        d. 1863.
    established by the Federal Reserve Act in
89. The most common form of negotiable instrument and the        a. checks.                    b. promissory notes.        c. mortgages.                   d. cash.
    preferred method of payment for many debts is
90. An endorsement on a check that limits the use of the         a. blank endorsement.         b. open endorsement.        c. restrictive                  d. full or special
    instrument to a means specified by the endorser is a(an)                                                               endorsement.                    endorsement.
91. Eventually adopted by all 50 states, a consistent code for   a. Federal Reserve Act of     b. Uniform Commercial       c. Civil Rights Act of          d. Expedited Funds
    commercial law transactions was established by the           1913.                         Code of 1958.               1964.                           Availability Act of 1987.
2005 SLC Business Procedures                                                                                                                                                 Page 6
92. A document that a transportation company issues, which        a. bill of lading.          b. promissory note.         c. Certificate of Deposit.   d. demand note.
    evidences receipt of goods for shipment, is called a
93. A local area network (LAN) is best described as a(n)          a. electronic library       b. computer system that     c. system to allow           d. method to offer
                                                                  containing millions of      connects computers of all   computer users to meet       specialized software,
                                                                  items of data that can be   sizes, workstations,        and share ideas and          hardware, and data
                                                                  reviewed, retrieved, and    terminals, and other        information.                 handling techniques that
                                                                  analyzed.                   devices within a limited                                 improve effectiveness
                                                                                              proximity.                                               and reduce costs.
94. A key usually found in a box to identify the numerical        a. pie chart.               b. legend.                  c. data map.                 d. digital format.
     data on a chart is called a
95. The spacing between lines, a function of typography, is       a. ligature.                b. kerning.                 c. alignment.                d. leading.
     called
96. A manager’s ability to communicate, coach, lead, resolve      a. conceptual skills.       b. human skills.            c. technical skills.         d. physical skills.
     conflicts, and motivate workers is part of his or her
97. The first state in the United States to enact a ban against   a. California.              b. Florida.                 c. New York.                 d. Maryland.
     cell phone use while driving was
98. In determining the need for system changes, several types     a. technical, economic,     b. legal, environmental,    c. environmental,            d. technical, operational,
     of feasibility studies can be made. The most commonly        legal, and practical.       and economic.               operational, and             and economic.
     recognized feasibility studies are                                                                                   economic.
99. A pen-like instrument used for pressing icons on the          a. graffiti.                b. a stylus.                c. a QWERTY keyboard.        d. a personal organizer.
     screen of handheld computers and other small devices is
     known as
100. The key ingredient to group effectiveness is                 a. challenge.               b. trust.                   c. norms.                    d. roles.
2005 SLC Business Procedures

Answer Key – Business Procedures 2005 SLC

    1.    A                                 58. A
    2.    A                                 59. D
    3.    B                                 60. C
    4.    B                                 61. B
    5.    A                                 62. A
    6.    A                                 63. B
    7.    B                                 64. A
    8.    A                                 65. C
    9.    B                                 66. A
    10.   A                                 67. B
    11.   A                                 68. D
    12.   B                                 69. A
    13.   B                                 70. C
    14.   A                                 71. D
    15.   B                                 72. C
    16.   A                                 73. A
    17.   B                                 74. B
    18.   A                                 75. D
    19.   A                                 76. A
    20.   A                                 77. D
    21.   B                                 78. B
    22.   A                                 79. A
    23.   A                                 80. B
    24.   C                                 81. D
    25.   B                                 82. C
    26.   A                                 83. A
    27.   B                                 84. C
    28.   C                                 85. B
    29.   D                                 86. D
    30.   B                                 87. B
    31.   B                                 88. C
    32.   C                                 89. A
    33.   D                                 90. C
    34.   B                                 91. B
    35.   C                                 92. A
    36.   A                                 93. B
    37.   C                                 94. B
    38.   D                                 95. D
    39.   A                                 96. B
    40.   A                                 97. C
    41.   A                                 98. D
    42.   C                                 99. B
    43.   C                                 100. B
    44.   B
    45.   D
    46.   C
    47.   A
    48.   C
    49.   B
    50.   B
    51.   B
    52.   A
    53.   A
    54.   A
    55.   B
    56.   D
    57.   C

				
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