FUNERAL HOME MANAGEMENT FINAL STUDY GUIDE (FSE
2202) EXAM QUESTIONS AND ANSWERS WITH COMPLETE
SOLUTIONS VERIFIED 2024/2025
The efforts of all members of an organization directed to ensure that quality in the
production of goods and services is achieved
Total Quality Management:
A method of classifying inventory items with categories, which are of high-value,
less costly, and/or low-cost items
ABC Method of Inventory Control
The cost of a fixed asset less accumulated depreciation
Book Value
Debt Equity is also known as:
Borrowed Equity, or Borrowed Capital
The emphasis placed on providing to customers products and services that are
safe, reliable, and honestly advertised; also a social movement that seeks to
strengthen the rights of consumers relative to sellers.
Consumerism
Factoring Approach
Used to measure the value of tangible assets
When buying a business, the purchaser should:
call suppliers to verify the amount of accounts receivable.
,Management function which compares organizational and individual performance
with predetermined standards of expected results.
Controlling
A superior's act of granting to subordinates, on the basis of competence, the
right to act or decide.
Delegation of Authority
The process of planning and executing the development, pricing, promotion, and
distribution of an organization's goods and services.
Marketing
A study that is used by a business to determine where potential customers are
Market Survey
The art of making the public aware of the services or commodity that the
business has for sale
Advertising
A plan, which provides inducements to potential purchases of products and/or
services
Sales Promotion
A written document that states explicitly the rights and duties of partners in a
partnership
Articles of Partnership
The difference between merchandise cost and selling price
Markup
The reduction of selling price below the original selling price
,Markdown
An agreement that payment for a product or service will be made at some later
date.
Credit
The governing body that is elected by the stockholders of a corporation.
Board of Directors
When credit is extended to consumers:
Business capital is tied up in merchandise that has not been paid for.
Credit files can be useful in:
Planning future inventory
Credit sales tend to produce:
Losses from bad debt
Extended between businesses to maintain goodwill:
Trade Credits
Who is credited with the Hierarchy of Needs?
Abraham Maslow
Maslow's Hierarchy of Needs:
Physiological - food, water, shelter
Security - safety
Social - belonging, love
, Esteem - prestige, accomplishments
Self-actualizing - Achieving full potential
Who is credited with Theory X and Theory Y?
Douglas McGregor
Theory X
States the average worker is bad, dislikes responsibility and must be controlled and
constantly supervised in order to accomplish anything.
Theory Y
States the average worker is good and will work best without constant supervision. That
employees are creative, seek responsibility, and can exercise self-direction.
Who is credited with the Two Factor Theory?
Frederick Herzberg
Herzberg's Two-Factor Theory
A model that divides motivational forces into "motivational factors" and "hygiene factors"
Those job factors which are essential for motivation at workplace.
Also called as "Dissatisfiers" or "Maintenance Factors", they are required to
avoid dissatisfaction and symbolize the physiological needs which the
individuals want and expect to be fulfilled.
Hygiene Factors
Those job factors which yield positive satisfaction, and therefore motivate the
employees for a superior performance.
2202) EXAM QUESTIONS AND ANSWERS WITH COMPLETE
SOLUTIONS VERIFIED 2024/2025
The efforts of all members of an organization directed to ensure that quality in the
production of goods and services is achieved
Total Quality Management:
A method of classifying inventory items with categories, which are of high-value,
less costly, and/or low-cost items
ABC Method of Inventory Control
The cost of a fixed asset less accumulated depreciation
Book Value
Debt Equity is also known as:
Borrowed Equity, or Borrowed Capital
The emphasis placed on providing to customers products and services that are
safe, reliable, and honestly advertised; also a social movement that seeks to
strengthen the rights of consumers relative to sellers.
Consumerism
Factoring Approach
Used to measure the value of tangible assets
When buying a business, the purchaser should:
call suppliers to verify the amount of accounts receivable.
,Management function which compares organizational and individual performance
with predetermined standards of expected results.
Controlling
A superior's act of granting to subordinates, on the basis of competence, the
right to act or decide.
Delegation of Authority
The process of planning and executing the development, pricing, promotion, and
distribution of an organization's goods and services.
Marketing
A study that is used by a business to determine where potential customers are
Market Survey
The art of making the public aware of the services or commodity that the
business has for sale
Advertising
A plan, which provides inducements to potential purchases of products and/or
services
Sales Promotion
A written document that states explicitly the rights and duties of partners in a
partnership
Articles of Partnership
The difference between merchandise cost and selling price
Markup
The reduction of selling price below the original selling price
,Markdown
An agreement that payment for a product or service will be made at some later
date.
Credit
The governing body that is elected by the stockholders of a corporation.
Board of Directors
When credit is extended to consumers:
Business capital is tied up in merchandise that has not been paid for.
Credit files can be useful in:
Planning future inventory
Credit sales tend to produce:
Losses from bad debt
Extended between businesses to maintain goodwill:
Trade Credits
Who is credited with the Hierarchy of Needs?
Abraham Maslow
Maslow's Hierarchy of Needs:
Physiological - food, water, shelter
Security - safety
Social - belonging, love
, Esteem - prestige, accomplishments
Self-actualizing - Achieving full potential
Who is credited with Theory X and Theory Y?
Douglas McGregor
Theory X
States the average worker is bad, dislikes responsibility and must be controlled and
constantly supervised in order to accomplish anything.
Theory Y
States the average worker is good and will work best without constant supervision. That
employees are creative, seek responsibility, and can exercise self-direction.
Who is credited with the Two Factor Theory?
Frederick Herzberg
Herzberg's Two-Factor Theory
A model that divides motivational forces into "motivational factors" and "hygiene factors"
Those job factors which are essential for motivation at workplace.
Also called as "Dissatisfiers" or "Maintenance Factors", they are required to
avoid dissatisfaction and symbolize the physiological needs which the
individuals want and expect to be fulfilled.
Hygiene Factors
Those job factors which yield positive satisfaction, and therefore motivate the
employees for a superior performance.
