Matching
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In what order are the six steps in the formal Decision Making / Problem-Solving
Model? a. | STEP 1 | b. | STEP 2 | c. | STEP
3 | d. | STEP 4 | e. | STEP 5 | f. | STEP
6 |
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1.
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take action
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2.
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gather information
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3.
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define the problem
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4.
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evaluate the action
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5.
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identify various solutions
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6.
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evaluate alternatives and select the best decision
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a. | brainstorming | b. | markdown | c. | memorandum | d. | markup | e. | interest
| f. | interoffice memo
| g. | rate of interest | h. | term | i. | consensus | j. | principle |
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7.
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The percent that is the basis for interest earned or paid.
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8.
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A short written form of business communication that has a set format
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9.
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An amount deducted from the retail price to determine the sales price
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10.
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An amount charged for borrowing money
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11.
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Agreement among a group of people
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12.
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An amount of the borrowing money. The loan amount.
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13.
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Number of years for which a loan is extended
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14.
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A creative group problem-solving technique that involves generating a large
number of fresh ideas
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15.
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An amount added to the cost to determine the sales price
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16.
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A memo from one person in a company to another
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Short Answer
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17.
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Type in the correct answer below. You may use a calendar and scratch paper.
You may NOT use the internet.
How much of a markup is there on an item that you purchase for $40
and sell for $75?
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18.
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Type in the correct answer below. You may use a calendar and scratch paper.
You may NOT use the internet.
What is the due date of a 75 – day note dated May
28?
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Multiple Choice
Identify the
choice that best completes the statement or answers the question.
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19.
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How much was the MARK UP on an item that you purchased for $12 and sold
it for $21?
a. | 45% | b. | 50% | c. | 55% | d. | 60% | e. | 65% | f. | 70% | g. | 75% |
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20.
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What is a disadvantage to a credit card sale?
a. | merchants pay part of the proceeds to the wholesalers | b. | merchants pay part
of the proceeds to the credit card company | c. | merchants pay part of the proceeds to the
manufacturers | d. | merchants pay part of the proceeds to the consumers |
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21.
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Why is brainstorming beneficial?
a. | to generate a large number of ideas to solve a problem | b. | it is good for your
brain to get a little rain | c. | it is not good for you | d. | to generate one idea
to solve the problem |
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22.
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Which one of the following is important when conduction an effective TELEPHONE
CONVERSATION?
a. | always date your business correspondence | b. | be sure to spell all
names correctly with the correct address | c. | be cheerful | d. | be persuasive and
specific |
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23.
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What is the DUE DATE on a 180 day loan dated Oct
1?
a. | March 24 | b. | March 25 | c. | March
26 | d. | March 27 | e. | March 28 | f. | March
29 | g. | March 30 |
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24.
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Which one of the following is important when writing an effective BUSINESS
LETTER?
a. | speak clearly and direct into the receiver | b. | take
notes | c. | Type all formal correspondence | d. | think about what you are going to say before
making the call |
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25.
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What is the DUE DATE on a 90 day loan dated April
27?
a. | July 24 | b. | July 25 | c. | July
26 | d. | July 27 | e. | July 28 | f. | July
29 | g. | July 30 |
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26.
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This is the beginning of the month of October with a total sales of $23,552.
Assuming your business GROWTH RATE is 1.8%, what will your sales at the end of December? (Calculate
the growth rate for October-December)
a. | $23,552.00 | b. | $23,975.94 | c. | $24,407.21 | d. | $24,846.54 |
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27.
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What does consensus building aim to do?
a. | this is aimed to build a good savings account | b. | this is a survey
aimed to make the business money | c. | this is a focus group | d. | to find a way to
resolve a problem that is acceptable to all people involved |
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28.
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Which one of the following are NOT one of the four types of sales
transactions?
a. | Purchase Orders | b. | Invoices | c. | Sales
Tax | d. | Memo | e. | Sales Slips |
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29.
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Which of the compulation skills (math skills) below is NOT on of the FOUR skills
we discussed in class in order to run a business?
a. | addition | b. | subtration | c. | square
root | d. | multiplication | e. | division |
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30.
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Which one of the follow is NOT a listening skill we dicussed in class.
a. | try to understand what the person is saying | b. | focus the attend on
the speaker | c. | be direct and positive | d. | take notes | e. | ask
questions |
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