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DSST Introduction to Business Exam Practice Test 2

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The DSST Introduction to Business exam covers the basics of economic issues; international business; government and business; business ownership; entrepreneurship and franchise; management process; human resource management; production and operations; marketing management; financial management; risk management and insurance; and management and information systems. The exam contains 100 questions to be answered in 2 hours. Exam content: Foundations of Business – 20% a. Forms of Business Ownership b. Government and Business c. Economics of Business Functions of Business – 60% a.... Show more

The DSST Introduction to Business exam covers the basics of economic issues; international business; government and business; business ownership; entrepreneurship and franchise; management process; human resource management; production and operations; marketing management; financial management; risk management and insurance; and management and information systems.

The exam contains 100 questions to be answered in 2 hours.

Exam content:

Foundations of Business – 20%
a. Forms of Business Ownership
b. Government and Business
c. Economics of Business

Functions of Business – 60%
a. Management
b. Marketing
c. Finance
d. Accounting
e. Production and Operations
f. Management Information Systems
g. Human Resources
h. Entrepreneurship

Contemporary Issues – 20%
a. Role of technology and e-commerce
b. Business ethics and social responsibility
c. Global business environment

Show less

DSST Introduction to Business Exam Practice Test 2

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1. Net income is

gross profit minus operating expenses and income taxes.costs of materials used to produce goods during a given year.assets minus liabilities.gross profit minus operating expenses.

2. To help new junior employees learn their jobs and adjust to the company culture, some companies

make them part of a work team.enroll them in apprenticeships.assign them a mentor.give them an orientation program.

3. Which of the following is an example of dumping?

Clothing manufacturers cut up out-of-season clothes and trash them to clear inventory.Stores sell goods for less than what they paid in order to clear inventory.Manufactures sell goods in a foreign country for less than what it cost to manufacture them.A foreign government offers a subsidy to domestic manufacturers that make and sell goods abroad to offset import duties.

4. Which of the following illustrates the concept of direct foreign investment?

Opening a sales office in a foreign cityLicensing the use of technology to a foreign companyBuilding a factory in a foreign countrySelling a business unit to a foreign company

5. A nation has a comparative advantage in a certain good when that country

can produce a higher quality of the good.was the earliest producer of the product.can produce the good at a lower cost than other countries.can produce the good more efficiently than other nations.

6. The Smith Company wants to enter the German market with its product and decides to establish the business with a German company. They are setting up what kind of business?

LicensingContract manufacturingJoint ventureStrategic alliance

7. Which of the following is characteristic of a market economy?

Government control of some industries and competition in othersLow barriers to entry into industriesCentral planningThe right to own property

8. A balance sheet details a company’s

financial status.assets, liabilities, and owner’s equity.receipts and payments.profit and loss.

9. A Gantt chart shows the

structure of an organization.sequence of tasks that must be performed in order and the tasks that can be performed simultaneously with those tasks.products to be produced, their deadlines, and those who will be working on the projects.steps in a project and time required to perform each step.

10. To calculate net income, an accountant would need what information?
I. Total revenue
II. Total assets
III. Total expenses

I onlyI and II onlyI, II, and IIII and III only

11. Which of the following type of information systems software allows users to create new types of information?

Business intelligenceKnowledge informationDecision supportExecutive information

12. Which of the following is an example of a shopping good?

Engagement ringComputer tabletWedding gownDoughnut and coffee

13. Which of the following is a true statement about the minimum wage?

Any job that is negotiated by collective bargaining is not covered by the minimum wage.Violations of the minimum wage are investigated by the Equal Opportunity Employment Act.All hourly jobs are covered by the minimum wage.The Federal Fair Labor Standards Act mandates those jobs that must be paid the minimum wage.

14. Which of the following is a contingent worker?

Daughter employed as a sales agent for the family construction companyLawyer on leaseTruck driver who owns and drives his own truckCall center employee

15. According to the principles of financial management, which of the following should be paid for through the issuance of corporate bonds?

Operating expensesInterest payments on loansConstruction of new facilitiesResearch and development

16. Which of the following is an advantage to a business partnership over a sole proprietorship?

Less paperwork than a sole proprietorship to start the businessGreater tax advantages to the owners than a sole proprietorshipLimited liabilityGreater ability than a sole proprietorship to borrow money to expand the business

17. A small business selling craft materials and needing money to balance out cash flow would most likely

sell unsecured commercial paper.sell a debenture.apply for a bank line of credit.issue stock.

18. The role of the World Bank in global development is to

fund programs to improve conditions and increase productivity in developing nations.develop monetary policy to stabilize the economy.provide advice and technical expertise to nations to avert financial crises.rescue failing banks that are too big for their own governments to help.

19. In backward scheduling, the operations department has to schedule

based on when a product needs to be shipped.based on input from the just-in-time inventory control system.based on when raw materials are due to arrive.according to supplier availability.

20. Which of the following poses a question of social responsibility for a company?

OutsourcingReporting inflated profitsPrice fixingHarassing a whistleblower

21. Advertising, public relations, sales promotions, and personal selling are the components of which of the following?

Promotional mixMedia mixProduct differentiationFour Ps

22. Encryption software protects a company’s e-mail by

encoding messages so they can’t be read without a passphrase to unscramble them.identifying and removing spyware.erecting a barrier to block messages unless told to recognize the sender.filtering out spam.

23. Currency depreciation causes

exports to rise in price.imports to rise in price.imports to become cheaper.no effect on imports and exports.

24. The airline industry with few competitors could be characterized as

having monopolistic competition.an industry with perfect competition.a monopoly.an oligopoly.

25. Software that is designed to disrupt a computer’s operation is

spam.malware.spyware.cookies.

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