Functional Departments In A Typical Business Quiz

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Quizzes Created: 1 | Total Attempts: 438
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  • 1/8 Questions

    What are the top three roles of a company's Marketing Department?

    • Consumer demand research, advertising and marketing strategies for the firm's products and services
    • TV commercials, sales promotions and research
    • Sales staff development, Advertising and Market research
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About This Quiz

Ready for an insightful exploration of the inner workings of businesses with our "Functional Departments in a Typical Business Quiz."? Tailored for aspiring professionals and business enthusiasts, this quiz delves into the essential departments that collectively drive organizational success. Test your knowledge of functions like marketing, finance, human resources, and operations that form the backbone of a typical business structure. Whether you're a student aiming to understand business dynamics or a professional seeking to reinforce your knowledge, this quiz provides a comprehensive examination of functional departments and their roles. Challenge yourself with questions covering key responsibilities, interdepartmental collaborations, and the significance of each function in contributing to overall business objectives. Immerse yourself in this quiz to gain valuable insights into the intricate network of functional departments that collectively shape the landscape of a typical business.

Functional Departments In A Typical Business Quiz - Quiz

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  • 2. 

    The marketing manager is responsible for overseeing the day-to-day business operations, which can encompass everything from ordering raw materials to scheduling workers to produce tangible goods.

    • True

    • False

    Correct Answer
    A. False
    Explanation
    That's the job of the operations manager. The marketing managers' duty includes a company's ability to identify customers’ needs and design products and services that meet those needs, also determining the promotion and distribution of goods and services.

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  • 3. 

    What are the top five functional departments in a typical business as discussed in the course textbook and class lecture notes?

    • Finance, Marketing, IT, Legal, and HR

    • HR, Management, IT, Legal, Production

    • Manufacturing, Quality Control, HR, Finance, Legal

    • Legal, Security, HR, Manufacturing, and Finance

    • Facilities, Manufacturing, HR, Finance, Production control

    Correct Answer
    A. Finance, Marketing, IT, Legal, and HR
    Explanation
    There are many departments in a typical business and some might be more important than others for certain businesses and markets. As the book decribed in chapter 2 the top five for a typical firm is Answer A.

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  • 4. 

    What are the three major roles  in a Human Resource (HR) department?

    • Recruiting, Performance Appraisals, Employee luncheons

    • Employee Relations, Retention and Labor disputes

    • Employee appraisals, Recruiting, and Retention

    • Recruiting, Employee Relations and Benefits and Compensation

    Correct Answer
    A. Recruiting, Employee Relations and Benefits and Compensation
    Explanation
    There many roles and activities within a HR department but as we discussed in class the top three in most firms are Recruiting, Employee Relations, and Benefits and Compensation

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  • 5. 

    What are the top three roles in a firm's Legal department?

    • Lawsuits, Insurance and Contracts

    • Litigation, Contracts, Managing company legal risk

    • Trials, Contracts and Lawsuits

    • Warranties, Liabilities and Contracts

    • Judge Judy preparation, Contracts and Litigation

    Correct Answer
    A. Litigation, Contracts, Managing company legal risk
    Explanation
    Legal departments scope involve major financial, regulatory and legal aspects. In our lectures we discussed the top three typical ones as managing company risk and mitigation, representing the oompany in a litgious events and contract development and enforcment of company wide terms and conditions of sales/services

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  • 6. 

    Accountants provide managers with information needed to make decisions about the allocation of company resources.

    • True

    • False

    • Partially true

    Correct Answer
    A. True
    Explanation
    Accountants play a crucial role in providing managers with the necessary information to make informed decisions regarding the allocation of company resources. By analyzing financial data, accountants can provide insights into the financial health of the organization, identify areas of inefficiency or wastage, and offer recommendations for optimizing resource allocation. This information enables managers to make strategic decisions that can drive the company's growth and profitability. Therefore, the statement "Accountants provide managers with information needed to make decisions about the allocation of company resources" is true.

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  • 7. 

    What are the top three roles of a typical Finance department?

    • Sales forecast, Acccounting, Treasury operations

    • Accounting, Comptrollership, Risk mitigation

    • Treasury operations, Accounting, Comptrollership

    • Petty cash disbursements, Accounting, Sales

    Correct Answer
    A. Treasury operations, Accounting, Comptrollership
    Explanation
    There are many roles and activities in the Finance departments of a typical business. As the book describes the three overarching ones are: acccounting of all financial transactions, treasury operations associated with investing and financing, and oversight of all accounting and implementation and monitoring of internal controls.

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  • 8. 

    Managerial Accountants are principally responsible for the construction of financial statements to help entities both inside and outside the organization to assess the financial strength of the company.

    • True

    • False

    Correct Answer
    A. False
    Explanation
    Financial accountants are responsible for this job. Managerial accountants provide information regarding costs, budgets, asset allocation, and performance appraisal for internal use by management for the purpose of decision-making.

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  • Current Version
  • Sep 19, 2024
    Quiz Edited by
    ProProfs Editorial Team
  • Oct 07, 2010
    Quiz Created by
    ChiefLiam
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