NOCTI Study Guide Practice Questions
With Correct Answers
If a business conducts SWOT analysis to decide whether or not to expand, which
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of the following would be categorized as an ''O''?
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A. money is available for the expansion
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B. there is the potential for increased profits
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C. new competition could enter the market
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D. company expenses have increased - CORRECT ANSWER✔✔-B. there is the
| | | | | | | | | | |
potential for increased profits | | |
B is correct because a SWOT analysis is a planning tool used to determine or
| | | | | | | | | | | | | | |
evaluate an organization's strengths, weaknesses, opportunities, and threats as
| | | | | | | | |
related to a project or decision. An opportunity refers to an external condition or
| | | | | | | | | | | | | |
possibility that may benefit a company if it pursues the action or decision. A
| | | | | | | | | | | | | |
potential for increased profits is an example of an opportunity.
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The North American Free Trade Agreement (NAFTA) created a free-trade area for:
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A. Mexico, the U.S., and Canada
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B. Mexico and Canada
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C. Mexico and Panama
| | |
D. Mexico, Guatemala, and Belize - CORRECT ANSWER✔✔-A. Mexico, the U.S.,
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and Canada |
,A is correct because the North American Free Trade Agreement (NAFTA) created a
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freetrade area for Mexico, the United States, and Canada.
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Two types of business partnerships are general and:
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A. contractual
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B. fiduciary
|
C. limited
|
D. cooperative - CORRECT ANSWER✔✔-C. limited
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C is correct because the two types of business partnerships are general and
| | | | | | | | | | | | |
limited. A general partnership is a business that is made up of two or more
| | | | | | | | | | | | | | |
individuals where each partner contributes money, property, labor, or special
| | | | | | | | | |
skills and each partner shares in the business's profits or losses. A limited
| | | | | | | | | | | | |
partnership resembles a general partnership but the limited partner is not liable
| | | | | | | | | | | |
for the partnership's debts other than the funds that were contributed to the
| | | | | | | | | | | | |
partnership. The limited partner will not normally participate in the activities of
| | | | | | | | | | | |
the partnership.|
The planning, pricing, promoting, and distribution of goods and services is known
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as:
A. advertising
|
B. marketing
|
C. logistics
|
D. forecasting - CORRECT ANSWER✔✔-B. marketing
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, B is correct because marketing involves the planning, pricing, promoting, and
| | | | | | | | | | |
distribution of goods and services. | | | |
The main purpose of an effective performance evaluation is to:
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A. help companies determine who to fire when times get hard
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B. help workers to determine when they should ask for a salary increase
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C. help workers develop their strengths and work on their weaknesses
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D. help companies to determine what other jobs workers might be good at -
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CORRECT ANSWER✔✔-C. help workers develop their strengths and work on their
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weaknesses
C is correct because the main purpose of an effective performance evaluation is
| | | | | | | | | | | | |
to help workers develop their strengths and work on their weaknesses.
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A mission statement describes an organization's:
| | | | |
A. absentee policy
| |
B. building plans
| |
C. purpose or goal
| | |
D. job postings - CORRECT ANSWER✔✔-C. purpose or goal
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C is correct because the communication of the purpose and goal is generally the
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reason for an organization's mission statement.
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The best way to motivate workers to do a good job is:
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A. providing positive feedback to reinforce what they do correctly
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With Correct Answers
If a business conducts SWOT analysis to decide whether or not to expand, which
| | | | | | | | | | | | | |
of the following would be categorized as an ''O''?
| | | | | | | |
A. money is available for the expansion
| | | | | |
B. there is the potential for increased profits
| | | | | | |
C. new competition could enter the market
| | | | | |
D. company expenses have increased - CORRECT ANSWER✔✔-B. there is the
| | | | | | | | | | |
potential for increased profits | | |
B is correct because a SWOT analysis is a planning tool used to determine or
| | | | | | | | | | | | | | |
evaluate an organization's strengths, weaknesses, opportunities, and threats as
| | | | | | | | |
related to a project or decision. An opportunity refers to an external condition or
| | | | | | | | | | | | | |
possibility that may benefit a company if it pursues the action or decision. A
| | | | | | | | | | | | | |
potential for increased profits is an example of an opportunity.
| | | | | | | | |
The North American Free Trade Agreement (NAFTA) created a free-trade area for:
| | | | | | | | | | |
A. Mexico, the U.S., and Canada
| | | | |
B. Mexico and Canada
| | |
C. Mexico and Panama
| | |
D. Mexico, Guatemala, and Belize - CORRECT ANSWER✔✔-A. Mexico, the U.S.,
| | | | | | | | | | |
and Canada |
,A is correct because the North American Free Trade Agreement (NAFTA) created a
| | | | | | | | | | | |
freetrade area for Mexico, the United States, and Canada.
| | | | | | | | |
Two types of business partnerships are general and:
| | | | | | |
A. contractual
|
B. fiduciary
|
C. limited
|
D. cooperative - CORRECT ANSWER✔✔-C. limited
| | | | |
C is correct because the two types of business partnerships are general and
| | | | | | | | | | | | |
limited. A general partnership is a business that is made up of two or more
| | | | | | | | | | | | | | |
individuals where each partner contributes money, property, labor, or special
| | | | | | | | | |
skills and each partner shares in the business's profits or losses. A limited
| | | | | | | | | | | | |
partnership resembles a general partnership but the limited partner is not liable
| | | | | | | | | | | |
for the partnership's debts other than the funds that were contributed to the
| | | | | | | | | | | | |
partnership. The limited partner will not normally participate in the activities of
| | | | | | | | | | | |
the partnership.|
The planning, pricing, promoting, and distribution of goods and services is known
| | | | | | | | | | | |
as:
A. advertising
|
B. marketing
|
C. logistics
|
D. forecasting - CORRECT ANSWER✔✔-B. marketing
| | | | |
, B is correct because marketing involves the planning, pricing, promoting, and
| | | | | | | | | | |
distribution of goods and services. | | | |
The main purpose of an effective performance evaluation is to:
| | | | | | | | |
A. help companies determine who to fire when times get hard
| | | | | | | | | |
B. help workers to determine when they should ask for a salary increase
| | | | | | | | | | | |
C. help workers develop their strengths and work on their weaknesses
| | | | | | | | | |
D. help companies to determine what other jobs workers might be good at -
| | | | | | | | | | | | | |
CORRECT ANSWER✔✔-C. help workers develop their strengths and work on their
| | | | | | | | | | |
weaknesses
C is correct because the main purpose of an effective performance evaluation is
| | | | | | | | | | | | |
to help workers develop their strengths and work on their weaknesses.
| | | | | | | | | |
A mission statement describes an organization's:
| | | | |
A. absentee policy
| |
B. building plans
| |
C. purpose or goal
| | |
D. job postings - CORRECT ANSWER✔✔-C. purpose or goal
| | | | | | | |
C is correct because the communication of the purpose and goal is generally the
| | | | | | | | | | | | | |
reason for an organization's mission statement.
| | | | |
The best way to motivate workers to do a good job is:
| | | | | | | | | | |
A. providing positive feedback to reinforce what they do correctly
| | | | | | | | |
