Quiz Facts 1. Business - Introduction To Business

Effective entrepreneurial teams combine

An opportunity to meet or exceed customer expectations or disappoint the customer with sub par products is referred to as a/an ________

3

According to Max Weber, Protestant ethics discouraged the development of capitalism

4

Duk Yu, a beverage company, buys its raw materials from Nessange, a fruits and vegetables exporting company, without making any payment at the time of purchase. Instead, Nessange allows Duk Yu to pay the total purchase amount within a period of six months. Which of the following short-term financing options is being used by Duk Yu in the given scenario?

5

Why is productivity important? How can a nation's productivity rate be improved?

6

A program to implement social responsibility in business begins with

7

As the chair of the board of directors, Susan Walker is concerned about the ethical standards at InKlone Inc She

8

You recently considered investing in InnRonn, Inc, a publicly traded company. You decide not to buy shares in the company after reviewing the independent auditor's report and discovering that the auditor has offered a(n) _____ opinion about widespread irregularities in the company's financial statements

9

Centex Systems sources cables and wires from The Wrapper Corp. In this situation, The Wrapper Corp. is part of the ________ portion of the global supply chain.

10

What is a conflict of interest? How is it related to ethical decision making?

11

Neon Synergy Inc. operates in three different countries, and is headed by a CEO who believes that the best approach to ethics is cultural relativism. In this context, which of the following statements is most likely to be true regarding Neon Synergy?

12

Why is new product development expensive?

13

One of the major dangers of competition-based pricing is that it often results in price wars

14

Which of the following best supports an organization's stance in terms of social responsibility and ethical leadership?

15

Heinrich Chemical Corporation holds an annual meeting in which it invites all individuals who hold shares in the company. The occasion is also set aside for the election of a new member to the company's board of directors. However, the company ensures that only individuals who have the right to vote participate in the election. In this scenario, the _____ of the company take part in the voting process.

16

Business strategy in contrast to corporate strategy involves which of the following?

17

As one of the tools included in a firm's promotion mix, public relations is intended to earn public understanding and acceptance.

18

Which of the following, if true, most strongly supports the Domino Grace CEO's argument?

Answer: E
Explanation: E) The concern about benefits is a real one, but it can't be the only factor in the merger. Maybe some of the other factors will provide good news. If Choice E is true, then a merged company might provide faster paths to promotion. This strengthens the view that education and communication would help. Choice A would support the argument if the Domino Grace employees got to keep their benefits, but Choice A says that the Kryptos employees are the ones who get to keep them. Choice B says that the shareholders like the deal, but they aren't the ones who are resisting change. It's the employees of Domino Grace who are at issue here. Choice C says that they wouldn't be able to keep savings secret, but why would they want to? Choice D suggests that the Domino Grace employees have less bargaining power, which should make them more nervous about the change.

19

A market structure with pure competition has all of the following characteristics EXCEPT:

20

Explain the difference between debt financing and equity financing

21

Justin Rolando decided to operate his own web design firm and is leaning toward organizing it as a sole

22

Which of the following is true of personal investing?

23

In a business organization, there is no difference between line positions and staff positions

24

As Greece, Spain, and Portugal have struggled with recession, high unemployment, and soaring government debt, concerns have risen that their economic problems could spiral out of control and spread to the global economy. What international organization could most likely assist in this situation?

25

When an activity benefits an individual but not the employer, what ethical dilemma has been created?

26

Wholesalers that perform the entire range of wholesaler functions are _____ wholesalers

27

Joelle, a designer for a business that installs underground sprinkler systems for residential and commercial customers, is experiencing some frustration. She has two bosses, Reid and Bryan, who both share the ownership responsibilities of the business. While Reid is in charge of commercial accounts, Bryan is in charge of residential accounts. Sometimes, however, Reid and Bryan double book Joelle's time, creating irritations and animosity. Since they share managerial responsibility, there is no clear way to decide whose accounts are most important. This type of situation represents a violation of Fayol's ________ principle.

28

Carter Glass is the CEO of GreenHouse Gas Partners, a company that facilitates shipments of coal from the mine

29

Which of the following, if true, weakens the CEO's case for outsourcing to Latin America?

30

Which of the following statements BEST describes how a policy that uses the "accidental bodily injury" definition of an accident differs from one that uses the "accidental means" definition?

31

As an artificial person, a(n) _____ can legally engage in almost any business activity a natural person can, including owning property, entering into binding contracts, and initiating legal actions

32

A list of skills, abilities, education, and experience required for a position is called a job analysis.

33

New levels of creativity and energy in workers who share a sense of purpose and accountability can result in teams that have ________

34

Assume that the yen/dollar exchange rate quoted in Tokyo at 5 p.m. is ¥120 = $1, and the New York yen/dollar exchange rate at the same time (noon New York time) is ¥123 = $1. What action should a broker take to yield immediate profit?

35

Livesheer, a youth-focused clothing brand, signs a contract with the organizers of a music festival. Under the contract, the organizers of the music festival promise to display the brand's banners across the venue. Also, as part of its promotional strategy, Livesheer distributes some of its goodies for free among the crowd. This scenario exemplifies _____.

36

Which of the following would best describe a benefit of departmentalization?

37

How can you minimize the chance of sending instant messages to the wrong people?

38

What is the legal document that identifies a borrower's obligation when issuing corporate bonds?

39

________ involves the review and evaluation of the records that are used to prepare the organization's financial statements.

40

How would you go about incorporating a business?

41

The components of a formal proposal are entirely different from those of other formal reports

42

Which of the following regulates the buying and selling of stocks?

43

An S corporation is taxed just like any other corporation.

44

Both socialism and communism are variations of

45

When corporate profits to be distributed are large, common stockholders may receive more per share than preferred stockholders

46

Janice is starting a new business and is confused about how to determine the price to set for her product. She comes to you for advice and you tell her, correctly, that the two factors that determine the price at which a product will sell are

47

Sarita is executive director of a nonprofit that teaches financial literacy to urban youth. To "walk the talk," she feels it's important to support her employees' plans for retirement

48

Mario Dean owns a Wendy's franchise. Mario feels that the franchisor is hurting his business by forcing him to use certain high-priced suppliers. The franchisor says that this power is implied in the franchise agreement. Who is likely to arbitrate this dispute?

49

In his classical theory of motivation, Frederick Taylor believed that two things would improve worker productivity: linking pay to output and

50

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Quiz Facts 1. Business - Introduction To Business

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