Praxis Business Education: Content Knowledge (5101)Exam practice exam guide & Business-Education-Content-Knowledge-5101 actual test cram

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PRAXIS Praxis Business Education: Content Knowledge (5101)Exam Sample Questions (Q51-Q56):

NEW QUESTION # 51
Which of the following types of statements is referred to as a picture of a company in the future?

A. Mission statement
B. Closing statement
C. Value statement
D. Vision statement

Answer: D

Explanation:
A vision statement describes a company's future aspirations, providing a long-term picture of what it aims to become. Option A (closing statement) is not a business term in this context. Option B (mission statement) defines the company's purpose and current operations. Option C (value statement) outlines core beliefs or principles. This question aligns with the Entrepreneurship category, emphasizing strategic planning.
Reference:ETS Praxis Business Education: Content Knowledge (5101) Study Companion, Section on Entrepreneurship; Strategic Management, Chapter 2.

NEW QUESTION # 52
A manager meets with a shift supervisor to discuss the actions of a subordinate. After verifying the supervisor' s statements, the manager asks a few questions to clarify and confirm understanding of the issue. Which of the following types of listening is the manager using?

A. Reflective
B. Empathetic
C. Casual
D. Selective

Answer: A

Explanation:
Reflective listening involves actively verifying and clarifying information to ensure understanding, as the manager does by asking questions to confirm the supervisor's statements. Option A (empathetic) focuses on understanding emotions, not necessarily clarifying facts. Option B (casual) is informal and lacks focus.
Option C (selective) involves hearing only parts of the message, which is not the case here. This question aligns with the Communication and Career Development category, emphasizing effective listening skills.
Reference:ETS Praxis Business Education: Content Knowledge (5101) Study Companion, Section on Communication and Career Development; Business Communication, Chapter 4.

NEW QUESTION # 53
A small hardware store purchases 5 hammers for $5 each and sells the hammers for $9 each. Which of the following amounts represents the total gross profit?

A. $20
B. $25
C. $45
D. $4

Answer: A

Explanation:
Gross profit is calculated as total revenue minus the cost of goods sold (COGS). The store purchases 5 hammers at $5 each, so COGS = 5 × $5 = $25. The hammers are sold at $9 each, so total revenue = 5 × $9 =
$45. Gross profit = $45 # $25 = $20. Option A ($4) represents the profit per hammer, not the total. Option C ($25) is the COGS, and Option D ($45) is the total revenue. This question tests basic accounting principles under the Accounting and Finance category.
Reference:ETS Praxis Business Education: Content Knowledge (5101) Study Companion, Section on Accounting and Finance; Accounting Principles, Chapter 5.

NEW QUESTION # 54
Which of the following steps in new product development should occur first?

A. Business analysis
B. Commercialization
C. Idea evaluation
D. Idea generation

Answer: D

Explanation:
Idea generation is the first step in new product development, involving brainstorming and identifying potential product concepts. Option B (idea evaluation) follows to screen ideas. Option C (business analysis) assesses feasibility after screening. Option D (commercialization) is the final launch step. This question aligns with the Management and Marketing category, focusing on product development processes.
Reference:ETS Praxis Business Education: Content Knowledge (5101) Study Companion, Section on Management and Marketing; Principles of Marketing, Chapter 8.

NEW QUESTION # 55
Which of the following best defines a legally enforceable contract?

A. Consideration without the mandatory requirement of mutual assent by the parties of the offer and acceptance
B. Agreement, consideration, contractual capacity, and the mandatory requirement that the object of the contract is lawful
C. Agreement, consideration, and the mandatory inclusion of gift promises and moral obligations
D. Agreement, consideration, and the mandatory requirement that only one of the parties is required to be rational and sane

Answer: B

Explanation:
A legally enforceable contract requires an agreement (offer and acceptance), consideration (something of value exchanged), contractual capacity (parties must be competent), and a lawful object (purpose must be legal). Option A is incorrect, as both parties must have capacity. Option B is incorrect, as gift promises and moral obligations are not enforceable. Option C lacks mutual assent, a key element. This question aligns with the Business Law category, focusing on contract law.
Reference:ETS Praxis Business Education: Content Knowledge (5101) Study Companion, Section on Business Law; Business Law: Text and Cases, Chapter 10.

NEW QUESTION # 56
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