REM C LVL 3 Flashcards
External forces directly affect all of the following EXCEPT:
A. Management structure of organization
B. Market segmentation strategies
C. Types of products/services offered
D. Choice of businesses to acquire or sell
A. Management structure of organization
______ are instances when engineer managers make decisions that will have implications in the future.
A. Forecasting
B. Network Models
C. Inventory Models
D. Queuing Theory
A. Forecasting
Management must foster the morale of its employees. This principle emphasizes on the need for teamwork and the importance of communication in obtaining it.
A. Equity
B. Order
C. Initiative
D. Esprit de corps
D. Esprit de corps
What does PERT stands for?
A. Product Evaluation Review Technique
B. Price Evaluation Review Technique
C. People Evaluation Review Technique
D. Program Evaluation Review Technique
D. Program Evaluation Review Technique
Program Evaluation Review Technique (PERT) is a technique that enables engineer managers to schedule, monitor, and control large and complex projects by employing three time estimates for each activity.
A staff specialist’s right to give advice to a superior.
A. Line authority
B. Head authority
C. Functional authority
D. Staff authority
D. Staff authority
What is the most widely used chart in management of scheduling and controlling of projects?
A. CPM
B. Gantt Chart
C. Smith Chart
D. PERT
B. Gantt Chart
It is determining the scope of work and how it is combined in a job.
A. Division of labor
B. Departmentation
C. Span of control
D. Delegation of authority
A. Division of labor
Division of labor - determining the scope of work and how it is combined in a job
The linking of activities in the organization that serves to achieve a common goal or objective.
A. Division of labor
B. Delegation of authority
C. Departmentation
D. Coordination
D. Coordination
Coordination linking of activities in the organization that serves to achieve a common goal or objective
What network model enables engineer managers to schedule, monitor, and control large and complex projects by employing three time estimate for each activity?
A. Program Evaluation Review Technique (PERT)
B. Life Cycle Model
C. Critical Path Method (CPM)
D. Forecasting
A. Program Evaluation Review Technique (PERT)
To determine a qualified applicant, the engineer manager will subject the applicant to a test that is used to measure a person’s current knowledge of a project?
A. personality test
B. aptitude test
C. interest test
D. performance test
D. performance test
The process of assigning various degrees of decision-making authority to subordinate.
A. Departmentation
B. Span of control
C. Delegation of authority
D. Division of labor
C. Delegation of authority
Delegation of authority - process of assigning various degrees of decision-making authority to subordinate
A specialist’s right to oversee lower level personnel involved in that specialty, regardless of where the personnel are in the organization.
A. Head authority
B. Staff authority
C. Functional authority
D. Line authority
C. Functional authority
It implies an understanding of proficiency in a specific kind of activity, particularly one involving methods, processes, procedures or techniques.
A. Managerial skill
B. Human skill
C. Technical skill
D. Conceptual skill
C. Technical skill
_______is an inventory model used for planned shortages.
A. Quantity discount model
B. Economic order quantity model
C. Back order inventory model
D. Production order quantity model
C. Back order inventory model
Back order inventory model - an
inventory model used for planned shortages
Which of the following is not a content of the production plan?
A. How much material must be purchased
B. Situational analysis and target market
C. How many employees are required
D. The amount of capacity the company must have
B. Situational analysis and target market
Situational analysis and target market is a content for the marketing plan.
Models where large complex tasks are broken into smaller segments that can be managed independently.
A. Queuing Theory
B. Inventory Models
C. Network Models
D. Forecasting
C. Network Models
This describes how to determine the number of services units that will minimize both customer waiting time and cost of service.
A. Forecasting
B. Queuing Theory
C. Network Models
D. Inventory Models
B. Queuing Theory
FOX Company has a ratio of (total debt/total assets) that is above the industry average, and a ratio of (long term debt/equity) that is below the industry average. These ratios suggest that the firm:
A. utilizes assets effectively
B. has a relatively low dividend payout ratio
C. has too much equity in the capital structure
D. has relatively high current liabilities
D. has relatively high current liabilities
Total debt includes both current and long-term debt; the above relationships could occur only if FOX Company has a higher-than- average level of current liabilities.
What is the Unit of Production Method?
A. The amount of depreciation each year is fixed and equal.
B. System of recording larger depreciation expenses during the earlier years.
C. Way to work out the loss of value of an asset over time.
D. Method of calculating the depreciation of the value of an asset over time.
D. Method of calculating the depreciation if the value of an asset over time.
The ratio of quick assets to current liabilities is known as the:
A. profit margin
B. acid-test ratio
C. net margin
D. debt
B. acid-test ratio
What is Capital Market?
A. A market structure is defined by a large number of small firms competing against each other.
B. Market in which securities are bought and sold.
C. A financial market in which long- term debt or equity-backed securities are bought and sold.
D. Entrepreneurs in one country copy an existing market.
C. A financial market in which long- term debt or equity-backed securities are bought and sold.
Capital business sectors are the place where reserve funds and ventures are diverted between providers-individuals or establishments with cash-flow to loan or contribute-and those out of luck.
Raising more money than profitable used causes?
A. Capitalization
B. Over-Capitalization
C. Excess Share Capital
D. Dividend
B. Over-Capitalization
Over-capitalization results from raising more money than can be profitably used. Over- capitalization takes place when a company raises more money by the issue of shares and debentures than can be profitably used.
What refers to the additional cost that results from increasing the output of a system and is often associated with a “go-no-go” decisions?
A. variable cost
B. fixed cost
C. incremental cost
D. opportunity cost
C. incremental cost
What is Objectivity Principle?
A. The concept that the financial statements of an organization
B. The underlying accounting principle that the dollar will remain constant across fiscal periods
C. Accounting principle for recording revenues and expenses
D. Every business transaction requires recordation in two different accounts
A. The concept that the financial statements of an organization
The objectivity principle is the idea that the financial reports of an association be founded on strong proof. The purpose behind this rule is to keep the supervisory group and the bookkeeping division of a substance from delivering budget reports that are skewed by their viewpoints and predispositions.
Which of the following would best explain a situation where the ratio of (net income/total equity) of a firm is higher than the industry average, while the ratio of (net income/total assets) is lower than the industry average?
A. The firm’s debt ratio is higher than the industry average.
B. The firm’s equity multiplier must be lower than the industry average.
C. The firm’s asset turnover is higher than the industry average.
D. The firm’s net profit margin is higher than the industry average.
A. The firm’s debt ratio is higher than the industry average.
Assets are financed either by debt or equity. The situation described above could occur only if the firm is financing more assets with debt than are industry competitors.
In exchange for hosting a platform for business to be conducted, the ______ receives compensation.
A. Bundling
B. Freemium
C. Marketplace
D. Affiliate
C. Marketplace
Marketplaces are somewhat straight-forward: in exchange for hosting a platform for business to be conducted, the marketplace receives compensation. Although transactions could occur without a marketplace, this business models attempts to make transacting easier, safer, and faster.
________ is responsible for sourcing raw materials and producing finished products by leveraging internal labor, machinery, and equipment.
A. Retailer
B. Subscription
C. Manufacturer
D. Fee-of-service
C. Manufacturer
A manufacturer is responsible for sourcing raw materials and producing finished products by leveraging internal labor, machinery, and equipment. A manufacturer may make custom goods or highly replicated, mass- produced products. A manufacturer can also sell goods to distributors, retailers, or directly to customers.
A patent is granted for a specified amount of time because of the assumption:
A. That during this time firm will cover its development costs
B. That firm will earn a sufficient profit during this period
C. To limit the monopoly of the firm
D. That it will stimulate idea and development of a better product
D. That it will stimulate idea and development of a better product
How can a member resign from a cooperative society?
A. Withdrawing his capital
B. Transferring his share to another person
C. Transfer his shares to a fellow member.
D. None of these choices
A. Withdrawing his capital
A member of a co-operative society can leave the society by withdrawing his capital from the society.
_______ business models attract customers by introducing them to basic, limited-scope products.
A. Marketplace
B. Bundling
C. Affiliate
D. Freemium
D. Freemium
Freemium business models attract customers by introducing them to basic, limited-scope products. Then, with the client using their service, the company attempts to convert them to a more premium, advance product that requires payment. Although a customer may theoretically stay on freemium forever, a company tries to show the benefit of what becoming an upgraded member can hold.
Which of the following is not one of the criteria of the behavioural segmentation base used for consumer markets?
A. Media usage
B. Consumption
C. Life stage
D. Product usage
C. Life stage
The behavioural segmentation base
consists of the following criteria:
purchase/transaction; consumption/
usage; product usage; media usage.
To be effective, the process of market segmentation must meet which of the following basic requirements?
A. The market segment must reflect the population’s changing attitudes and lifestyles.
B. The firm must avoid focusing on non-
variables such as profitability and volume.
C. The market segment must have
measurable purchasing power and size.
D. The company must expand beyond its
marketing capabilities to capture growing
markets.
C. The market segment must have
measurable purchasing power and size.
To evaluate market segments uses a rating approach for different segment attractiveness factors, such as market growth, segment profitability, segment size, competitive intensity within the segment, and the cyclical nature of the
industry (e.g. whether or not the
business is seasonal).
The operations strategy which refers to service firms distributing their products in many different forms and places is called
A. Ubiquitization
B. Servitization
C. Globalization
D. Mass customization
A. Ubiquitization
The operations strategy which refers to service firms distributing their products in many different forms and places is
called Ubiquitization
To segment consumer good and service markets we use market information we have collected classified as segmentation bases. These bases
include profile, behavioural, and psychological criteria. Examples of profile criteria include
A. media usage, transaction history, age, and
geographics.
B. demographic, life stage, geographic,
and geo-demographic criteria.
C. gender, age, occupation, life stage, and
benefits sought criteria.
D. occupation, income, product usage, and
lifestyle (psychographics).
B. demographic, life stage, geographic,
and geo-demographic criteria.
Gender, age and occupation are
examples of profile criteria;
life stage and benefits sought are examples of psychological criteria.
Occupation and incomes are examples of profile criteria;
product usage is an example of
behavioural criteria and
lifestyle is an example of psychological criteria.
Media usage and transaction history are
examples of behavioural criteria;
age and geographics are examples of profile
criteria.
Set of forces and conditions that
originate with suppliers, customers and
competitors.
A. General environment
B. External environment
C. Task Environment
D. Internal environment
C. Task Environment
The value of what should be done and
what should not be done for the
business point of view.
A. Unitarian view of ethics
B. Business Ethics
C. Separatist view of ethics
D. Integrated view of ethics
B. Business Ethics