Quiz Facts 1. Business - Introduction To Business

1

Juliet is shopping for her first house. Her monthly pretax income is $10,000. In order to maintain a solid financial footing, what should her monthly maximum expenses be for mortgage payments, taxes, and insurance on the house?

2

LCG Inc., a mobile manufacturing company, is launching its new product in the market. The managers at LCG want to price the product in a way that would enable the company to recover the investments made toward developing the product in the quickest way possible. Which pricing strategy would be most effective for LCG Inc.?

3

________ represent a commitment of organizational funds of at least one year.

4

If mobile technology is a disruptive technology, why do organizations value integration of the technology?

5

Which of the following is the most important determinant of channel length?

6

Recently, ________ became the number-one consumer complaint with the Federal Trade Commission.

7

Leslie's Lizards and Serpents, LLC, owner, Karen Skink, is wrestling with whether she should close the business. The air conditioning quit on a very hot day recently causing several of the lizards to overheat and die. In addition, a child put his hand in a snake's cage and was bitten. His parents were not closely supervising him in spite of signs in the store and a verbal warning by Karen prior to the incident. The child suffered only a minor puncture wound which healed rapidly, but the parents sued Leslie's anyway. While Karen is certain she will prevail in the suit, the attorney fees and court costs have almost depleted the company finances. Leslie's rents the store space, but owns all of the cages, food, heating equipment, store displays, software, other goods sold in the store, and

8

Bert owns a company that provides institutional cleaning services. He likes things done to his exact standards and does not tolerate any other methods. According to McClelland's "three needs" theory, Bert's dominant need is ________

9

Unlike general philanthropy, strategic CSR ________

10

Generally, it is desirable if e-business activities can shift revenues from traditional retail stores to online sales.

11

The interview is part of

12

List and describe the three personal selling tasks

13

When investors purchase ________ stock, they receive a priority claim in the payment of dividends, as well as assets if the business is liquidated. However, these investors do not have voting rights.

14

Which of the following is true of securities brokers?

15

Discuss the significance of legal systems in the context of shifting toward a market-based economic system.

A well-functioning market economy requires laws protecting private property rights and providing mechanisms for contract enforcement. Without a legal system that protects property rights, and without the machinery to enforce that system, the incentive to engage in economic activity can be reduced substantially by private and public entities, including organized crime, that expropriate the profits generated by the efforts of private-sector entrepreneurs. When communism collapsed, many of these countries lacked the legal structure required to protect property rights, all property having been held by the state. Although many nations have made big strides toward instituting the required system, it will be many more years before the legal system is functioning as smoothly as it does in the West.

16

________ unemployment results when the demand for labor varies during the year.

17

_____ is a payment corporations sometimes make to their shareholders

18

How long a time period do strategic plans generally cover?

19

The secondary market is where previously issued securities are traded

20

In which of the following economic systems do most people work for government-owned industries or farms?

21

What type of intermediary act as a storage firm allowing small operations to pick up the goods desired?

22

Which of these statements accurately describes the Waiver of Premium provision in an Accident and Health policy?

23

Employees at Wolf Metals receive a small payment based on their attendance record for the year. The amount varies in proportion to their actual attendance in comparison to other employees and the total profits Wolf Metals made for the year. Wolf Metals is using a ________ plan for its employees.

24

When a Fat Burger offers a discount to senior citizens, they have violated the price discrimination provisions of the Robinson-Patman Act.

25

Researchers concluded there is a correlation between employees' satisfaction and their perception of the company's ________ responsibility

26

Which of the following, if true, strengthens the case that an income statement would show Streeter & Sons where its problems lie?

27

Ryan is a human resources manager at Remfur Inc While recruiting managers for the newly formed regional divisions, he feels the company would benefit greatly from external recruitment. In this case, which of the following methods of recruitment can Ryan use?

28

The primary objective of a sin tax is to generate additional revenue for the government.

29

Which of the following would be an appropriate reason for a country to eliminate trade restrictions?

30

Worldwide risks need to be prioritized so that international funds can be spent where they can do the most good.

31

During a recent recession, the government of a country provided loans and took ownership positions in its main bank, Savings Co. What economic system does this exemplify?

32

A characteristic of Preferred Provider Organizations (PPOs) would be:

33

When a firm undertakes corporate social initiatives it is

34

Managers who rely on ____ as a form of negative reinforcement will ignore an undesired behavior in the hope that it will go away

35

You have been asked to complete this year's social responsibility report for the insurance industry. Which of the following statements would you include as a valid indication of socially responsible activities in this industry?

36

Rick's Wholesale Office Supplies prefers to handle its accounts receivable itself, but it also needs to use them to facilitate short-term borrowing. What can Rick's do?

37

The process of mediation:

38

From an exporter's perspective, why is an offset more attractive than a straight counterpurchase agreement?

39

Describe how supply and demand affect the price of a product

40

Automobile companies promote different car models in different countries depending on a range of factors such as demographics, local taste, local fuel costs, income levels, traffic congestion, and cultural values. This most likely demonstrates that:

41

Although people dress differently in various parts of the world, they most often dress similarly when conducting international business

42

Which of the following acts restricted commercial banks from engaging in certain high-risk trading activities and raised the required capital that banks must hold on their balance sheets?

43

Eurodollar deposits can only be made at banks located in London.

44

The line of authority that moves from the top of a hierarchy to the lowest level is called the

45

Which of the following statements about channels of distribution is most accurate?

46

What is the effect of a monetary contraction in a fixed exchange rate system?

47

_________ are business-like establishments that employ people and produce goods and services with the fundamental goal of contributing to the community rather than generating financial gain

48

Companies with a strong sense of corporate social responsibility are obligated to understand the ethical standards of their suppliers

49

An S corporation is: a. a corporation with a limited number of owners that operates under simpler, less formal rules than a Ccorporation

50

Which of the following is the strongest level of brand loyalty for a consumer?

51

What is the key difference between an intranet and an extranet? Why might a firm use a virtual private network instead of an extranet?

An intranet is a companywide network, closed to public access that uses Internet-type technology. Some firms use intranets mainly to publish information for employees to use, while other firms go further and create intranet applications that enable their employees to work more efficiently. Intranets usually make use of software or hardware (or a combination of both) to create a firewall, which prevents unauthorized outsiders from gaining access to corporate information.

An extranet is essentially an intranet that is open to selected outsiders. Thus, a firm might allow selected companies, such as key suppliers or customers, to have access to its intranet site. Small firms that use extranet technology can gain many of the benefits of electronic data interchange that used to be available only to large companies that could afford EDI systems.

Extranets typically use regular (public) lines for Internet connections. One problem with this approach is that the semiprivate nature of the extranet makes it possible for hackers to get into a corporate system. Although the problem of unauthorized access can be overcome by using dedicated private lines, such a process is expensive and limits usage more than a firm might actually want. A less expensive and more flexible approach is to set up a virtual private network (VPN). A VPN is a private network that sets up secure connections or "tunnels" over regular Internet lines.

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Quiz Facts 1. Business - Introduction To Business

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