AGB 310 POST TEST | 2026 UPDATE | QUESTIONS AND
ANSWERS | 100% CORRECT
Which cause shifts in the demand curve?
A. Changes in the price of one's own product
B. Seasonality
C. Changes in the price of a competitor's product
D. Changes in consumer income
E. Changes in consumer tastes and preferences Answer - C. Changes in the
price of a competitor's product
E. Changes in consumer tastes and preferences
If a business is breaking even and paying its employees, including its owner,
market-level salaries, then it may be rational for the business to continue
operating in the long term.
True or False Answer - True
Identify the budget used o ensure the there is sufficient cash available to pay
obligations as they come due.
A. cash flow budget
B. operating budget
C. capital expenditure budget
,D. office expense budget
E. administration budget Answer - A. cash flow budget
The four elements of a sustainable competitive advantage include all the
following except:
A. superior efficiency
B. superior quality
C. superior self-worth
D. superior innovation
E. superior customer responsiveness Answer - C. superior self-worth
The best organizational structure is the one that maximizes the long-run profits
of the firm and profitably satisfies its customers' need.
True or False Answer - True
Identify the budget that summarizes expected sales, production, and profits
and related costs for the next budget period.
A. cash flow budget
B. operating budget
C. capital expenditure budget
D. office expense budget
E. administration budget Answer - B. operating budget
At the shutdown point, a firm has neither a profit nor a loss.
, True or False Answer - False
Which are critical tasks for a farm equipment repair business?
A. ensuring fast service by always keeping required parts in stock
B. hiring and retaining qualified and properly certified mechanics that can
provide fast service
C. monitoring cost to keep them low for the customer while providing a
reasonable profit
D. always having fresh coffee in the customer waiting room Answer - A.
ensuring fast service by always keeping required parts in stock
B. hiring and retaining qualified and properly certified mechanics that can
provide fast service
C. monitoring cost to keep them low for the customer while providing a
reasonable profit
All employees are involved in marketing in companies that use marketing
approach (also called the consumer needs approach)
True or False Answer - True
Maslow's Pyramid of Human Needs is often used as a starting point for
understanding human needs and their relationships to each other
True or False Answer - True
Line activities include which of the following?
ANSWERS | 100% CORRECT
Which cause shifts in the demand curve?
A. Changes in the price of one's own product
B. Seasonality
C. Changes in the price of a competitor's product
D. Changes in consumer income
E. Changes in consumer tastes and preferences Answer - C. Changes in the
price of a competitor's product
E. Changes in consumer tastes and preferences
If a business is breaking even and paying its employees, including its owner,
market-level salaries, then it may be rational for the business to continue
operating in the long term.
True or False Answer - True
Identify the budget used o ensure the there is sufficient cash available to pay
obligations as they come due.
A. cash flow budget
B. operating budget
C. capital expenditure budget
,D. office expense budget
E. administration budget Answer - A. cash flow budget
The four elements of a sustainable competitive advantage include all the
following except:
A. superior efficiency
B. superior quality
C. superior self-worth
D. superior innovation
E. superior customer responsiveness Answer - C. superior self-worth
The best organizational structure is the one that maximizes the long-run profits
of the firm and profitably satisfies its customers' need.
True or False Answer - True
Identify the budget that summarizes expected sales, production, and profits
and related costs for the next budget period.
A. cash flow budget
B. operating budget
C. capital expenditure budget
D. office expense budget
E. administration budget Answer - B. operating budget
At the shutdown point, a firm has neither a profit nor a loss.
, True or False Answer - False
Which are critical tasks for a farm equipment repair business?
A. ensuring fast service by always keeping required parts in stock
B. hiring and retaining qualified and properly certified mechanics that can
provide fast service
C. monitoring cost to keep them low for the customer while providing a
reasonable profit
D. always having fresh coffee in the customer waiting room Answer - A.
ensuring fast service by always keeping required parts in stock
B. hiring and retaining qualified and properly certified mechanics that can
provide fast service
C. monitoring cost to keep them low for the customer while providing a
reasonable profit
All employees are involved in marketing in companies that use marketing
approach (also called the consumer needs approach)
True or False Answer - True
Maslow's Pyramid of Human Needs is often used as a starting point for
understanding human needs and their relationships to each other
True or False Answer - True
Line activities include which of the following?
