Question 1

One of the four functional areas of operation is Human Resources (HR).

Accepted Answer

Human Resources is indeed one of the four functional areas of operation, along with marketing, finance, and operations management.

Question 2

Sales forecasts are historical records of sales.

Accepted Answer

Sales forecasts are predictions or projections of future sales, not historical records of past sales.

Question 3

Successful business managers view their business operations from the perspective of a(n):
A)satisfied customer
B)positive cash flow
C)profitable sale
D)accurate sales forecast

Accepted Answer

Successful business managers prioritize the satisfaction of their customers above all else, as repeat business and positive word-of-mouth recommendations are essential for a business's longevity and growth. While positive cash flow, profitable sales, and accurate sales forecasts are important metrics to track, they ultimately serve to support the primary goal of customer satisfaction.

Question 4

When purchasing a computer,the functional area responsible for handling the financial help for purchasing that computer is:
A)Marketing and Sales
B)Accounting and Finance
C)Supply Chain Management
D)Human Resources

Accepted Answer

The functional area responsible for handling financial help for purchasing a computer is Accounting and Finance. This area manages the company's financial resources and oversees expenditures, such as purchasing equipment and technology. Marketing and Sales focus on promoting and selling products or services, while Supply Chain Management is responsible for managing the flow of goods and services from the supplier to the customer. Human Resources manages employee relations and personnel issues.

Question 5

Which business function is performed by Accounting and Finance?
A)Cost allocation and control
B)Taking sales orders
C)Benefits
D)Plant maintenance

Accepted Answer

Accounting and Finance perform the business function of cost allocation and control, which involves tracking and managing financial information related to expenses, revenues, budgets, and cash flow. They ensure that financial resources are allocated efficiently and effectively to support the company's operations and goals. Sales orders are typically handled by the Sales and Marketing function, benefits by Human Resources, and plant maintenance by Operations.

Question 6

The business function of government compliance falls under the Supply Chain Management functional area of operation.

Accepted Answer

Government compliance is a legal and regulatory function and falls under the Legal and Regulatory Affairs functional area of operation, not Supply Chain Management.

Question 7

Accounts receivable are recorded by the Human Resources department (HR).

Accepted Answer

Accounts receivable are typically recorded by the accounting or finance department, not the human resources department.

Question 8

What are the computers,people,procedures,and software that store,organize,and deliver information in an organization?
A)The CPU
B)The Process System
C)Information systems
D)Personnel systems

Accepted Answer

Information systems are designed to store, organize, and deliver information in an organization. This includes both hardware (such as servers and computers) and software (such as databases and content management systems), as well as the procedures and people responsible for managing and using these systems. Personnel systems may refer to HR-specific software used for tracking employee information, but it is not directly related to information storage and delivery in an organization. The CPU (central processing unit) is a component of a computer and not a comprehensive answer for the question. The Process System is not a common term in this context.

Question 9

Information systems that are designed so functional areas share data are called integrated information systems.

Accepted Answer

Integrated information systems are designed to connect functional areas by enabling shared data, allowing for improved communication and coordination across the organization.

Question 10

Historically,businesses have had organizational structures that separated the functional areas,but business schools have not been organized like that.

Accepted Answer

Business schools have historically mirrored the organizational structures of businesses by having departments or divisions that specialize in functional areas such as finance, marketing, operations, and human resources.

Question 11

Information systems that can be designed so that functional areas of operation share data are called:
A)integrated information systems
B)complete information systems
C)non-middleware information systems
D)linked information systems

Accepted Answer

Integrated information systems are designed to share data between functional areas of operation, allowing for more efficient and seamless communication between departments. Other choices such as complete, non-middleware, or linked do not accurately capture the shared data aspect of integrated information systems.

Question 12

When manufacturing runs out of raw materials,it's known as a stockout.

Accepted Answer

A stockout is defined as a situation where the inventory of raw materials or finished goods is completely depleted, resulting in a temporary halt of production or sales. It occurs when the demand for a product exceeds the available supply of inventory.

Question 13

Which of the following is a functional area of operation?
A)Packaging
B)Supply Chain Management
C)Shipping
D)Baking

Accepted Answer

Supply Chain Management is a functional area of operation that involves the management of the flow of goods and services, from the point of origin to the point of consumption. This includes activities such as inventory management, transportation, and logistics. Packaging, shipping, and baking may be related to operations, but they are not functional areas of operation.

Question 14

When manufacturing runs out of raw material,it is known as a(n):
A)shortfall
B)empty shelf
C)depletion
D)stockout

Accepted Answer

A stockout occurs when a business runs out of inventory or raw materials, leading to a temporary halt in production. This disrupts the supply chain and could result in lost sales, late deliveries, or dissatisfied customers. Therefore, a stockout is the best choice out of the options provided.

Question 15

The functional area of Supply Chain Management (SCM)sets prices.

Accepted Answer

The functional area of Supply Chain Management (SCM) is responsible for managing the flow of goods and services from suppliers to customers, optimizing the process to minimize costs and maximize customer satisfaction. However, setting prices is the responsibility of the marketing or sales department.

Question 16

Which of the following is an input to the Marketing and Sales functional area?
A)Production plans
B)Raw material orders
C)Per-unit cost
D)Accounts payable data

Accepted Answer

The answer of Which of the following is an input...

Question 17

Today's managers are beginning to think in terms of business process.A business process cuts across which functional areas of operation?
A)Marketing and Sales
B)Supply Chain Management
C)Accounting and Finance
D)Human Resources
E)All of the above

Accepted Answer

Business processes cut across all functional areas of operation, including marketing and sales, supply chain management, accounting and finance, and human resources. Managers are realizing the importance of considering the entire business process, rather than just individual functions, in order to improve efficiency and effectiveness.

Question 18

The business process of Cash Flow Management is handled under the Accounting and Finance functional area of operation.

Accepted Answer

Cash Flow Management is a financial process that falls under the Accounting and Finance department.

Question 19

To avoid stockouts,manufacturers might carry extra raw materials.This excess is known as safety stock.

Accepted Answer

Safety stock is an extra amount of inventory that is held by manufacturers to avoid stockouts in case of sudden increases in demand or delays in the delivery of raw materials.

Question 20

Estimates of future product demand,which are the amount of a product that customers will want to buy,are called:
A)sales forecasts
B)sales divining
C)sales diving
D)sales deriving

Accepted Answer

Sales forecasts are the most commonly used term to describe estimates of future product demand. Sales divining, sales diving, and sales deriving are not commonly used phrases in relation to forecasting future product demand.

Quiz 1: Business Functions and Business Processes

One of the four functional areas of operation is Human Resources (HR).

Sales forecasts are historical records of sales.

Successful business managers view their business operations from the perspective of a(n) :

When purchasing a computer,the functional area responsible for handling the financial help for purchasing that computer is:

Which business function is performed by Accounting and Finance?

The business function of government compliance falls under the Supply Chain Management functional area of operation.

Accounts receivable are recorded by the Human Resources department (HR).

What are the computers,people,procedures,and software that store,organize,and deliver information in an organization?

Information systems that are designed so functional areas share data are called integrated information systems.

Historically,businesses have had organizational structures that separated the functional areas,but business schools have not been organized like that.

Information systems that can be designed so that functional areas of operation share data are called:

When manufacturing runs out of raw materials,it's known as a stockout.

Which of the following is a functional area of operation?

When manufacturing runs out of raw material,it is known as a(n) :

The functional area of Supply Chain Management (SCM)sets prices.

Which of the following is an input to the Marketing and Sales functional area?

Today's managers are beginning to think in terms of business process.A business process cuts across which functional areas of operation?

The business process of Cash Flow Management is handled under the Accounting and Finance functional area of operation.

To avoid stockouts,manufacturers might carry extra raw materials.This excess is known as safety stock.

Estimates of future product demand,which are the amount of a product that customers will want to buy,are called: