DECA Business Management 3

Question 1

Which motivational theory suggests employees are motivated by five levels of needs, from physiological to self-actualization?

Accepted Answer

Maslow's Hierarchy of Needs

Answer

Maslow's Hierarchy of Needs proposes a five-level pyramid where lower needs must be satisfied before higher needs motivate behavior.

Question 2

A business that produces goods or services itself rather than purchasing them from outside suppliers is practicing:

Accepted Answer

Vertical integration

Answer

Vertical integration means a company controls multiple stages of its supply chain, producing inputs internally rather than outsourcing them.

Question 3

Which financial statement shows a company's revenues, expenses, and profit over a specific time period?

Accepted Answer

Income statement

Answer

The income statement (profit and loss statement) summarizes revenues and expenses to show net profit or loss over a period.

Question 4

An employee who is terminated because their position is eliminated due to company downsizing has been:

Accepted Answer

Laid off

Answer

A layoff occurs when an employee loses their job due to organizational restructuring or downsizing, not due to personal performance.

Question 5

Which concept refers to a manager's obligation to report results to their supervisor?

Accepted Answer

Accountability

Answer

Accountability means a manager must answer to their superior for the outcomes of tasks they were responsible for.

(DECA) Distributive Education Clubs of America Practice Test