The lowest rate charged by banks for short-term loans is called the _______ rate.
A) prime
B) discount
C) customary
D) nominal
E) usury
Question 2 - As the manager of an accounting department, you assemble staff to share the criteria by which they will all be evaluated. Some staff members have questions about the criteria, giving you the chance to further clarify in the meeting. After the meeting, you distribute a written summary of the criteria. This is an example of using performance appraisal to accomplish the objective of:
A) evaluating performance against standards.
B) making personnel decisions.
C) recruiting more competitively.
D) assessing HRM practices.
E) improving job analysis processes.
Question 3 - Which form of short-term financing is similar to a credit card, in that you have a maximum credit limit that you can borrow against at any time, and you only pay interest on the amount of funds you have used?
A) Promissory note
B) Factoring
C) Line of credit
D) Trade credit
E) Equity financing
Question 4 - You manage a team of factory supervisors. After this year's performance appraisals, you had to terminate one of your supervisors for consistently falling below established standards. Terminating the employee is an example of using performance appraisal to accomplish the objective of:
A) evaluating performance against standards.
B) making personnel decisions.
C) recruiting more competitively.
D) assessing HRM practices.
E) improving job analysis processes.
Question 5 - MCB Company experienced a significant increase in sales as a result of its new promotional campaign. Yesterday, however, it realized that because most of those sales were on credit, it did not have enough money in the bank to pay this month's bills. MCB can take care of this situation temporarily by:
A) obtaining long-term financing.
B) selling commercial drafts.
C) issuing stock.
D) disallowing credit sales.
E) obtaining short-term financing.
Question 6 - After completing this year's round of performance appraisals, the management team decided to revamp the company's orientation and training programs. Revamping the training is an example of using performance appraisal to accomplish the objective of:
A) evaluating performance against standards.
B) making personnel decisions.
C) recruiting more competitively.
D) assessing HRM practices.
E) improving job analysis processes.
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