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ETS MAJOR FIELD TEST (PRACTICE
TEST) BACHELOR'S DEGREE IN
BUSINESS 2026 QUESTIONS AND
ANSWERS| ACE YOUR GRADES.
A SWOT analysis examines a company's:
a) strategies, weaknesses, opportunities, and threats
b) strengths, weaknesses, opportunities, and threats
c) strategies, weaknesses, opportunities, and tactical plans
d) strengths, weaknesses, operational plans, and threats - correct
answer -b) strengths, weaknesses, opportunities, and threats
A company's buying center encompasses:
a) a representative from each department within an organization
b) only a gatekeeper and a buyer
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c) everyone who is involved in any aspect of the buying process
d) an exclusive top-notch buying department - correct answer -c)
everyone who is involved in any aspect of the buying process
The degree to which a product meets pre-established standards
is known as
a) conformance
b) performance
c) reliability
d) none of the above - correct answer -a) conformance
The control of the money supply by the Federal Reserve System
is known as:
a) fiscal policy
b) supply-side policy
c) congressional policy
d) monetary policy - correct answer -d) monetary policy
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On May 31, Company O's general ledger shows a cash balance
of $5,123. The May 31 bank statement shows a balance of
$4,905. Other information is available as follows:
1. A May 31 deposit of $300 does not appear on the bank
statement; but a $3 service charge does.
2. A customer's $40 insufficient funds check has been returned
with the bank statement.
3. Outstanding checks of $10, $15, and $100 are identified on
May
What is the correct cash balance on May 31?
a) $4,905
b) $5,080
c) $5,166
d) $5,204 - correct answer -b) $5,080
When using a flexible budget, a decrease in activity within the
relevant range:
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a) decreases variable cost per unit
b) decreases total costs
c) increases total fixed costs
d) increases variable cost per unit - correct answer -b) decreases
total costs
Green desires to form a new company to manufacture lawn
mowers. Green is concerned about having his personal assets
exposed to liability for the new company's contracts and torts.
Furthermore, he wants to retain control over the company's
operations and growth for the next few years. He will need an
infusion of equity capital to begin operations. He hopes to take the
company public in about five years if it is advantageous to do so
at the time. Which of the following types of associations would be
best for Green's new company?
a) Corporation
b) General partnership
c) Limited partnership
d) Member-managed limited-liability company - correct answer -a)
Corporation
ETS MAJOR FIELD TEST (PRACTICE
TEST) BACHELOR'S DEGREE IN
BUSINESS 2026 QUESTIONS AND
ANSWERS| ACE YOUR GRADES.
A SWOT analysis examines a company's:
a) strategies, weaknesses, opportunities, and threats
b) strengths, weaknesses, opportunities, and threats
c) strategies, weaknesses, opportunities, and tactical plans
d) strengths, weaknesses, operational plans, and threats - correct
answer -b) strengths, weaknesses, opportunities, and threats
A company's buying center encompasses:
a) a representative from each department within an organization
b) only a gatekeeper and a buyer
, Page | 2
c) everyone who is involved in any aspect of the buying process
d) an exclusive top-notch buying department - correct answer -c)
everyone who is involved in any aspect of the buying process
The degree to which a product meets pre-established standards
is known as
a) conformance
b) performance
c) reliability
d) none of the above - correct answer -a) conformance
The control of the money supply by the Federal Reserve System
is known as:
a) fiscal policy
b) supply-side policy
c) congressional policy
d) monetary policy - correct answer -d) monetary policy
, Page | 3
On May 31, Company O's general ledger shows a cash balance
of $5,123. The May 31 bank statement shows a balance of
$4,905. Other information is available as follows:
1. A May 31 deposit of $300 does not appear on the bank
statement; but a $3 service charge does.
2. A customer's $40 insufficient funds check has been returned
with the bank statement.
3. Outstanding checks of $10, $15, and $100 are identified on
May
What is the correct cash balance on May 31?
a) $4,905
b) $5,080
c) $5,166
d) $5,204 - correct answer -b) $5,080
When using a flexible budget, a decrease in activity within the
relevant range:
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a) decreases variable cost per unit
b) decreases total costs
c) increases total fixed costs
d) increases variable cost per unit - correct answer -b) decreases
total costs
Green desires to form a new company to manufacture lawn
mowers. Green is concerned about having his personal assets
exposed to liability for the new company's contracts and torts.
Furthermore, he wants to retain control over the company's
operations and growth for the next few years. He will need an
infusion of equity capital to begin operations. He hopes to take the
company public in about five years if it is advantageous to do so
at the time. Which of the following types of associations would be
best for Green's new company?
a) Corporation
b) General partnership
c) Limited partnership
d) Member-managed limited-liability company - correct answer -a)
Corporation
