Business - Introduction To Business; Pace 5 Quiz

The statement of cash flows calculates cash flows from operations, investing activities, and financing activities.

For health-related companies such as Jenny Craig, Inc., one of the most frequent ethical issues related to communications that they face is

3

The City Bank, a short-term lender, examines Frank's Kitchen Fixtures' ________ to assess its ability to repay a loan quickly with cash generated from sales.

4

Many companies use a _____ analysis to evaluate where they stand relative to the competition

5

Which of the following financial institutions would be considered a nonbank financial institution?

6

Which of the following is the MOST significant recent trend in small-business start-ups?

7

The form of business ownership that usually requires the most detailed record keeping is the

8

Which of the following support functions is most likely to involve dealing with the organizational structure, control systems, and culture of the firm?

9

What type of accountant would aid in the decision to acquire a new business?

10

When price helps Josh decide to purchase a Chevrolet Cavalier instead of a Mercedes because he also wants a Harley-Davidson motorcycle, price serves the function of

11

In the _____ form of e-commerce, firms want to develop customer loyalty and repeat business but seldom develop a close working relationship with individual customers

12

George, the CEO of a company, always uses examples from the Bible to convey his messages to his diverse workforce. He also favors employees who can quote verses from the Bible while talking to him. The non-Christian employees of the company, therefore, feel excluded. From the given information, it can be said that George shows _____.

13

To obtain ISO 9000 certification, an independent _____ must verify that a business's factory, laboratory, or office meets quality standards.

14

A strategy that focuses primarily on increasing the attractiveness of a product is referred to as a low-cost strategy

15

Service industries now account for almost half of the U.S. economy.

16

What is a stock's book value?

17

Which of the following holds true for products with low value-to-weight ratios?

18

Within a firm, social responsibility begins with management's attitude.

19

Mini-CaseThe first meeting between the new CEO of Game Guys, Inc., John Noble, and Howie Spradlin, the production manager, did not go smoothly. The purpose of the meeting was to discuss the problem of declining productivity and to develop a strategy to turn the situation around. Howie started the conversation by handing Mr. Noble the most recent production report. "I've always thought that most of our employees were lazy, and now I've got proof," Howie stated. "We pay these guys the highest wages in the industry, provide them with a safe place to work, and make the job as simple as possible. We aren't asking these guys to do brain surgery, but productivity still lags and our production costs increase. I've told all the supervisors to watch these lazy bums every second to make sure

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they put in a full day's work. If those guys think I'm going to let them get away with goofing off, they're in for a rude awakening." CEO Noble responded in a way that surprised Howie. "Maybe these employees aren't lazy, Howie, maybe they are just bored and resent the way we've treated them," he said. "The employees are experienced and well trained. They might work harder and smarter if the work were more interesting and rewarding. Their attitudes might even improve if we treated them with more respect. Maybe one of the best ways for you and me to understand where they're coming from is to spend some time alongside them." For the next hour, the two discussed ways to improve worker motivation and performance. Howie left the meeting with an unsettled feeling. Many of Mr. Noble's suggestions seemed naïve to Howie. "Mr. Noble is the boss, but I think he is too optimistic regarding human nature," Howie mused. Reluctantly, Howie had to admit that his own approach had not succeeded in improving the plant's performance. He decided to take a hard look at some of Mr. Noble's ideas.John Noble speculated that Howie really didn't know much about his employees, including the types of rewards that they found meaningful and whether they personally felt that if they worked hard, they could achieve a reward. Noble's thoughts referred to

A. equity theory.
B. expectancy theory.
C. Theory J.
D. reinforcement theory.

20

If a contract of adhesion contains questionable language, to whom would the interpretation be in favor of?

21

HS-Mobile Inc. is a mobile phone retailer that sells smartphones to high school students at more affordable prices. The company has one marketing strategy for the entire market of high school students and focuses all its efforts on this one segment. In this scenario, HS-Mobile Inc. is most likely using the ________ approach for marketing its smartphones.

22

Why is it important to open a routine message with the main idea?

23

Frequently, the informal organization effectively alters a company's formal structure

24

Controlling is the process of evaluating and regulating ongoing activities to ensure achievement of goals.

25

It is possible to establish a corporation by a simple verbal agreement

26

_________ overturned the section of the Banking Act of 1933 that prohibited commercial banks from selling insurance or performing the functions of investment banks

27

American Airlines found that for some jobs it was unwise to train workers on equipment used at the work site. Therefore, a special classroom facility was set up for instruction on operating equipment like that found in some departments. By doing this, American Airlines offered ____ training for some jobs

28

A survey of employers conducted in Indiana revealed that ________ percent reported leaving positions unfilled because the applicants were not qualified.

29

Based on data gathered from the U.S. Census Bureau, _____ are less common than _____, but tend to be larger and more profitable than _____

30

For centuries, Somariya was a capitalist country where the rich became richer and the poor became poorer. A group calling itself the "Change Brotherhood" sought to convert Somariya into a socialist country by democratic means. The "Change Brotherhood" is an example of

31

Your company's greatest need is to employ salespeople who will be responsible for selling the firm's products to new customers and increasing sales to present customers. For this reason, you recommend that the company hire which type of salesperson?

32

Describe the three-step strategy for requesting information and action

33

Markets are classified as either

34

Physical facilities such as railroads, highways, airfields, hospitals, and distribution systems all support a country's economic activities and are referred to as the country's

35

As indicated in the Making Ethical Decisions box, "Would You Sacrifice Safety for Profit?" organizational decisions that affect profits in a negative way should be avoided at all cost.

36

To gain respect from both senior management and their peers, human resources executives must make efforts to learn about their company

37

What is a major goal of a planned economic system?

38

Roy Stewart wants to be an electrician but knows that before he can be hired as a fully qualified electrician, he must assist an experienced electrician for a period of two years before gaining full credentials to work in the field. This type of arrangement is an example of an apprenticeship program

39

In the battle between online and traditional brick-and-mortar retailers, the online retailers seem to have all of the advantages needed to emerge as the clear winners.

40

Which of the following statements is false?

41

When a company establishes the price it charges for its products by determining the cost of production and then adding on a desired profit margin, it is known as target costing.

42

The characteristics of specialty goods restrict their effective sale online.

43

When can a bondholder file a bondholders' claim?

44

A corporate policy should never make a value statement about the environment or other social and political issues, because it is doubtful the company can live up to the proclamation.

45

The tendency to aggressively court FDI believed to be in the national interest of a country is an aspect of:

46

To a researcher collecting data, the New York Times is a ________

47

Kart Inc., a publishing house, allows employees to log in at their preferred time and log off after completing eight hours between the hours of 7 am and 7 pm. Kart Inc. offers ________ to its employees.

48

John perceives that he works much harder than his two coworkers, Sam and Arnie, yet they are both more highly paid and receive more perks. Equity theory suggests that John's most likely response would be to work even harder in an attempt to achieve the status of Sam and Arnie

49

A firm with a wide product variety will find it:

50

A franchise agreement is an arrangement where a franchisor sells the rights to a business name and the right to sell a product or service within a given territory to a franchisee.

51

The cash value of a life insurance policy is ________

52

What is a similarity between goods and services?

53

When requesting a sales report from a coworker who is regularly responsible for sending you the sales report, you should

54

What type of marketing is used to build long-term relationships with customers?

55

The Internet has opened a wide range of new opportunities for small businesses

56

The federal government requires mutual funds be invested exclusively in government securities

57

Explain the similarities and differences between limited partnerships and limited liability partnerships

A limited partnership is a business arrangement that includes at least one general
partner and at least one limited partner. Both types of partners contribute financially
to the company and share in its profits. But in other respects, they play different roles:
General partners may contribute money, property, and personal services to the
partnership. They assume full responsibility for managing the partnership, and they
have unlimited personal liability for any of its debts, just like the partners in a general
partnership.
Limited partners may contribute money and property to the company, but they cannot
actively participate in its management. Limited partners have limited liability; they are
liable for the debts of the firm only to the extent of their actual investment. As long as
they do not actively participate in management, their personal wealth is not at risk.
The limited liability partnership (LLP) is the newest form of partnership. It's
similar to a limited partnership in some ways, but it has the advantage of allowing all
partners to take an active role in management while also offering all partners some
form of limited liability. In other words, there's no need to distinguish between limited
and general partners in an LLP.

58

Market segmentation means dividing consumers according to their wants, income, and geographic location

59

Mira has been accused of harassing one of her direct reports and the HR team is investigating the situation. What should they do with Mira in the meantime?

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Business - Introduction To Business; Pace 5 Quiz

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