Quiz Mark 2. Business - Introduction To Business

1

The common stockholders' right to a residual claim on assets means that if a corporation goes out of business and liquidates its assets, it must pay the stockholders before it clears other debts and back taxes

2

Using "teasers" in electronic media as a way to pull readers or listeners into a story or other document is

3

Researchers David Nadler and Edward Lawler suggest that in order to use expectancy theory to improve worker motivation, the first thing managers should do is

4

The return on sales ratio measures a firm's use of leverage.

5

Jennifer Wyatt wanted to find new customers for her store. On her own, she decided to hand out fliers in the neighborhood. Which of the five Is is Jennifer demonstrating?

6

What caused manufacturing jobs to move from Mexico to China in the late 1990s?

7

Making a successful sales presentation or holding an effective press conference takes quality communication skills.

8

Even though it is a professional document filled with details and financial statements, it is important to capture the investor's attention by making the business plan interesting to read

9

Merit raises generally are based on the cost of living in a geographic area

10

One drawback of the currency board system is

11

Small-business investment companies (SBICs) may be sponsored by the federal government

12

Identify a benefit ofholding larger inventories.

13

Financial decisions with high perceived risk will have low potential for rewards

14

All of the following EXCEPT ________ are best practices when using phones at work

15

M purchased an Accidental Death and Dismemberment (AD&D) policy and named his son as beneficiary. M has the right to change the beneficiary designation at anytime. What type of beneficiary is his son?

16

KPI stands for key preference indicators

17

Carol's Clothiers, LLP, sells women's business clothing designed by the world's top designers. The company also sells clothing from its own line which is priced just below the designer clothing, but is nonetheless of very high quality. Carol's has, throughout its history, been attentive to the financial needs of the company and the seasonal fluctuations in income and expenses, and has planned accordingly. Except for the initial start-up expenses which were paid by the partner's loaning funds to the company, Carol's has always paid its bills from the income generated by sales. During the second year in operation, the company repaid the loans made by the partners. What kind of financing has Carol's Clothiers, LLP, used as its primary source of funds?

18

How are the independent clauses in compound sentences indicated?

19

In larger organizations, HRM is usually a responsibility shared by line managers and:

20

Capital, as a factor of production, includes machines, tools, buildings, information, and technology

21

The increasing use of computer networks has made computer security more complicated.

22

The Administrative Assistant II position at Game Guys, Inc., performs word processing and spreadsheet development for two vice presidents, and other clerical duties as needed. Other job responsibilities include maintaining the office operations budget, receiving guests, and supervising two Administrative Assistant I positions. These tasks are part of the job description for this position.

23

The _____ measures how effectively a firm uses its assets to generate net income

24

Memos are typically used for internal communication

25

Thelisia has abundant railroads, highways, ports, airfields, utilities and power plants, schools, hospitals, communication systems, and commercial distribution systems to support its economic activities. This means Thelisia has a strong

26

Brooklyn's Beachfront Bed and Breakfast loses money due to a sharp drop in the number of guests during the winter months. If Brooklyn's demand curve is like most demand curves, one way to attract more guests would be to offer lower rates during the off-season

27

Brandon works as an electrician, going into people's homes and offices to set up and repair electrical systems. When he sees a dangerous condition, he reports it to the home or business owner immediately and begins working to fix the situation. He wears safety goggles and gloves while he is working, and he has a comprehensive insurance plan with income protection in the event that he becomes unable to work. Brandon's actions are most related to Maslow's ________ needs.

28

In 2017, it was reported that Walmart's CEO earned 1,188 times as much as the company's average worker. Which drawback of capitalism does this demonstrate?

29

Network television and gasoline-powered cars are both in the maturity stage of their product life cycles in the United States

30

Dan has $6,000 that he would like to invest. He wants to diversify his investment, but feels that $6,000 isn't enough to buy many different securities. Besides, he doesn't know much about picking stock and doesn't want the hassle of trying to make investment decisions. Dan is likely to find mutual funds an attractive way to invest his $6,000

31

________ refers to the strategy of using borrowed funds to increase the rate of return for stockholders.

32

Due to the complexity and diversity of foreign markets, firms sometimes hesitate to seek export opportunities. These firms can best overcome ignorance by:

33

Grease payments or speed money are allowable under U.S. law as a way to expedite the

34

How does motivation differ from morale?

35

_____ utility provides customer satisfaction by converting inputs into finished products

36

The various ways in which a message can be sent, ranging from one-on-one in-person meetings to Internet message boards are called _________

37

Over the past several decades, concern for the environment has

38

Personal selling is put to its best advantage for more-expensive items

39

Mini-CaseSparky Weyer, president and CEO of Minimotors, Inc., a growing manufacturer of small (some of them downright tiny) electric motors used in a variety of power tools and appliances told potential investors, "These are exciting times for our company. We've made a lot of changes over the past two years that have really improved our operations and lowered our costs. Now we are ready to expand into new markets. Minimotors is on its way to becoming a global player."Sparky was meeting with potential financial backers in an effort to obtain funding for some expensive new machinery he wanted to purchase. "You may have heard about some of the ways we've cut costs," Sparky continued. "We've developed a new arrangement with several of our biggest suppliers. They've agreed to make more

in Business

frequent deliveries tied directly to our production schedules. This will help us reduce our inventory costs dramatically. We've also greatly reduced the number of defective motors we produce by carefully keeping tabs on all of our manufacturing processes. In fact, we have set a goal of reducing our defects to 3.4 parts per million. The main purpose of my meeting with you today is because we want to install some sophisticated new machinery and software that will allow us to quickly design and produce motors to the exact specifications of our customers. The machinery is computer-controlled and can produce custom-designed products at very little increase in cost compared to our mass-produced motors. We feel this flexibility and quick response time will give us a tremendous competitive advantage and help us attract new customers. Installing the new equipment and training our workers to use it properly will be a complex project, but I'm confident that once we get everything up and running we'll be able to strengthen our position as the leading maker of high-quality electric motors."The arrangements Minimotors has worked out with its suppliers to reduce the amount of inventory the company holds at any one time show that it is committed to a(n)

A. first in, first out inventory processing system.
B. just-in-time inventory control system.
C. ABC inventory system.
D. priority inventory scheduling system.

40

Convenience products generally use selective distribution.

41

Arturo is a partner in a firm that specializes in producing vitamins and health food products. While the business is considered small by U.S. standards, he is attempting to persuade his partner to expand internationally. Arturo would list which of the following as an advantage of going global?

42

Over the years, Jennifer has acted in a number of supporting roles on TV sitcoms. Her last contract obligated her to perform in 22 episodes for a stipend of $500 per episode. Upon completion of the 11th episode, Jennifer broke her leg and was not able to complete the episodes in a timely manner. The studio claimed that Jennifer broke her contract and they are not obligated to pay her. She is confident that an impartial third party will view her circumstances as exceptional and will rule that she be reimbursed for the 11 performances. She has agreed to mediation.

43

How can price be best determined?

44

The main objective of financial control is to establish priorities for the purchase of plant and equipment.

45

Every time David wants to change his cell phone, he asks his colleagues and friends for help in deciding which phone to buy. Thus, David's colleagues and friends are his

46

Which of the following situations are NOT subject to Florida life insurance laws?

47

Explain why general corporations have become the dominant form of the different types of business ownership

General corporations (sometimes called C corporations) are businesses that are
considered legally separate and distinct from their owners, who are called
stockholders. There are several reasons why general corporations have become the
dominant form of business ownership. First, this form of ownership offers limited
liability to all owners; stockholders are not personally liable for their company's debts.
Second, under articles of incorporation, corporations have unlimited life; general
corporations are unaffected by the death or withdrawal of an owner. Third, there is
the ease of transfer of ownership; stockholder of publicly traded corporations can
withdraw from ownership simply by selling their stock. Fourth, corporations have the
ability to raise financial capital through issuing shares of stocks and bonds, giving them
an advantage when it comes to financing growth. Finally, with their greater financial
resources and the opportunities for career advancement they offer, large corporations
often find it easier to hire highly qualified, specialized professional managers.

48

Which of the following, if true, most clearly strengthens Karola's point of view?

49

What are common and simple mistakes that can result in losing an opportunity to interview for a position?

50

If you were a manager who made sure that rewards were distributed to your employees fairly based on their performance and that each employee clearly understood the basis for his or her own pay, you would be using

51

All new employees at Madison Lane Manufacturing are specifically trained to use the most efficient production methods. After extensive training, they are placed on an assembly line and expected to perform the same task day after day, using the methods they were taught. The work is boring, but the pay is good. Madison Lane's approach is consistent with the principles of

52

With bank-aggregator billing, one uses the _____ service at one's bank to automatically disburse one's monthly charges.

53

Consumer sales promotions are becoming more common because they help segment markets and they are cost-effective

54

Ethnocentricity means

Find your answers, solutions and more...

We made it much easier for you to find exactly what you're looking for on Sciemce. Enjoy our search engine "Clutch."

Save a GPA. Donate your notes with us.

Quiz Mark 2. Business - Introduction To Business

Recent Packs