Intro to Business Procedures

Ergonomics deal with....

people in general locations for work

Ergonomics grew into a distinct scientific discipline

during World War II

An efficient way to manage time and work is to

prioritize the tasks to be completed for the day

Common time-wasters at work include

ineffective communication

disorganization

excessive socializing

The basic structure where entrepreneurs accumulate some resources in the forms of capital, land, labor and technology and turn them into productive goods and services is

business

An economic condition where all types of business can be done willingly, independently, openly and without control.

free market

A specialized study of what is right or wrong

ethics

The most important kind of contemporary business enterprise is a

corporation

"Do whatever produces the greatest good for the greatest number."

utilitarianism

means that ethics is relative and not absolute

realtivism

The disposition by which we render to each one what is due to him/her

justice

What is considered the most important aspect of human relations?

commuication

is set by the government to protect low-paid employees against all types of exploitation by setting a floor in which their remuneration cannot further fall

minimum wage

when the worker is engaged to perform activities which are

usually necessary or desirable in a usual business

regular wage

exists when an employee is neither regular, probationary nor

contractual

casual wage

Minimum wage is

just wage

Employment may not exceed six months

probationary

are universal, inviolable and inalienable rights derived from a moral

system distinct from any legal organization

moral right

It enables the workers to bargain for just labor contracts among others in a solid and collective way

labor union

The refusal to work on the part of the organized workers

strike

Refers to the unjust act of differentiating one group of people not on the basis of personal merit but on the basis of partially or bias

job discrimination

Abusive and exploitative force of labor on a child

child labor

The process of analyzing and copying the products of a rival competitor

reverse engineering

hiring of an employee of one company by another company

personnel privacy

This condition exists when the price is below or exceeds the lowest/highest natural equilibrium level of a given classification of goods

price fixing

A venue for price fixing since it is highly concentrated and composed of relatively small but powerful number of firms

price fixing

It is the elimination or reduction of one's correct and proper tax by fraudulent terms

price cartel

Taxpayers exploit some legally permissible alternative methods of assessing taxable property or income in order to avoid or reduce tax liability

tax avoidance

A payment made with the intent of influencing directly or indirectly the conduct of someone in authority

bribery

Consumption of limited scare resources which may lead to a total extinction of species, exhaustion of fossil fuels and minerals

resource depletion

Is any paid form of non-personal communication and promotion by any identified sponsor

commercial advertising

The authority-responsibility relationship that links superiors and subordinates throughout the entire organization is known as the

chain command

Formal authority to tell others what to do that is granted by an organization is called

position power

Verbal and nonverbal responses that the receiver gives by further communicating with the original sender or another person is known as

feedback

Written communication document that is used internally within a company.

email, memorandum

a step-by-step standardized pattern of behavior that one follows

when completing a task or activity

procedure

An employee who is usually not paid overtime and is classified in an administrative or professional position is a(an)_____employee

exempt

Which of the following was organized to represent the employees, and not management, of a company

labor unions

the movement of information from one person to another in an

organization

workflow

The graphic presentation of the formal structure of an organization is the

organization chart

One of the most used organizers for keeping reminders according to date is the ________ file

tickler file

he legal right of authors and artists to protect their work against unauthorized usage is a process known as

copyrighting

The U. S. Postal service provides a rapid delivery, usually next-day delivery, through the service called

express mail

A fund set up for miscellaneous expenses in an office is a

petty cash fund

A balance sheet is a financial report that contains

capital

One of the documents that is prepared for an official meeting is the

agenda

If you are in Scranton, PA, and want to place a 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

12:30 am (pm)

Following a job interview, one should

Write a thank-you letter to emphasize your qualifications and draw attention to your application

Net income on an income statement is calculated by

subtracting costs and expenses from revenue

A sales invoice which states the terms as n/10 EOM means

net 10 days after the end of the month

Which of the following assets would a company not be allowed to depreciate for tax purposes

land

A patent gives the owner exclusive rights to manufacture and sell an item or use a process for

17 years

If an employee's salary is $340 a week with total monthly taxes, insurance and other deductions amounting to $260, which amount below is the closest for the monthly income for this employee

$1,100

A car that is priced at $16,900 is offered for sale less 15%. What will be the price of the car

$14,365

A group of related tables is called a

database

The titles of books, newspapers and magazines are usually identified in typed copy by

italicizing them

An Internet address is known as a(an)

URL

A letter style in which all lines begin at the left margin is the ______style

block

In a letter which uses the mixed punctuation style

a colon would follow the salutation and a comma would follow the

complimentary close

to format a Bibliography, References or Works Cited page in a report correctly, the sources are listed

alphabetically

The written record of announcements, reports, discussions and decisions made during a meeting is known as

the minutes

An ellipsis is used to show

omissions in quoted material

hesitation in printed material

All of the following are good telephone techniques except

Continuing to key as you talk on the phone

The ability to interact with three or more people during a telephone call is known as

a conference call

Which resume would you select to send to a company in order to show your years of work experience to the best advantage?

chronological

The federal agency that is tasked to oversee consumer protection is the

Federal Trade Commission

Which statement is false about instant messaging

Instant messaging is not likely to be used for business messages

When composing e-mail messages, all of the following guidelines would be appropriate except

Be casual, conversational and emotional.

A complete dictionary is known as a(an)

Unabridged dictionary

Which word(s) below is(are) substitute(s) for a noun

Map, globe and street

Which sentence below illustrates the subject of the sentence correctly by the underline

Our largest supply ​store​ will close next week

The name and address of the person or organization receiving a letter is known as the

inside address

when a letter or memorandum extends beyond one page, the second and succeeding page heading should consist of

The name of the addressee, the page number and the date

The U. S. Postal Service recommends that envelops addresses be

Typewritten in all capitals with no punctuation

Land or anything permanently affixed to it is known as

real property

A person who inherits property from the estate of a decedent is

an heir

If a business has $25,000 in revenues and net profit of $23,000, the profit ratio is

92 percent

At the end of the year, a company is responsible for giving each employee a(n)

wage and tax statement (W-2)

Health Insurance that protects you if injured on the job is

worker's compensation

The deductions from wages required by law is/are

FICA (Federal Insurance Contributions Act tax)

Special checks include all of the following except

bond drafts

In processing incoming checks, the accounting clerk

makes entries in customer's records

For a budget analyst, the office competency of primary value is

command of spreadsheet and related software

Salary increases and promotions are an example of _________________ motivation

extrinsic

MBO is a human relations term that means

management by objectives

A deposit slip should be

prepared for all deposits to be made in a bank

In the process of replenishing a petty cash fund, the first step is to

count the money in the cash box

If you want to learn what the company earned during the preceding quarter, you would review a

income statement

Joan is an administrative assistant at a local company and is in charge of managing the petty cash funds. Joan needs some money to get her nails done and decides to borrow twenty

dollars from the petty cash. Joan promises herself that she will put the money back when she gets her paycheck at the end of the week. Joan's behavior would be considered

unethical

Which of the following job opportunities is the most beneficial

A job that pays $42,000 per year and includes insurance

You work for a local company and have noticed that a coworker has not been doing his/her required job duties. You decide to discuss this matter with the employer in an attempt to change the situation. However, after two weeks, you notice that the same employee is still not performing as required. You decide to discuss this matter with your manager. What type of decision would this be?

an ethical decision

Companies must comply with all of the following employment laws except

benefit laws

Under the Americans with Disabilities Act, companies

cannot fire or refuse to hire people because of certain disabilities and illnesses

A good way for companies to minimize the risk associated with decision making is to

use dynamic growth strategies

When a leader presents group members with a problem situation and asks the group to write down their ideas rather than saying them aloud, he or she is encouraging creativity through

brainstorming

A manager will most likely use intuitive decision making when any of the following exist except

The manager feels like the decision is right regardless of what the facts say

In the semi-autocratic management decision style, ____.

Subordinates may or may not be informed of the decision

Managers can affect form group performance by

studying the degree of group conformity

A group working together in a coordinated effort to reach certain goals is a(an) ___.

organization

Span of management is also known as

span of control