Business - Introduction To Business

1

Jill makes a document by listing out all his possessions such as his car, house, and jewelry. She also writes down everything she owes for credit cards, mortgage payments, car payments, and other debt. What document has Jill created?

2

Which of these states the core purpose of an organization that defines its objectives and focus?

3

Dividing the required work among a group of employees is called

4

Collectivist-inclined totalitarian states tend to enact laws that severely restrict private enterprises, while laws enacted by governments in democratic states, where individualism is the dominant political philosophy, tend to be pro-private enterprise and pro-consumer. This indicates that

5

All commercial banks are________, meaning they have received government permission to operate, either from the federal government (national banks) or an individual state (state banks).

6

An investment bank is a financial intermediary that specializes in helping firms raise financial capital in primary markets

7

A major cost saving from just-in-time inventory systems comes from:

8

In the context of human resource management challenges, which of the following statements is true about older workers?

9

One advantage of buying a franchise is that the franchiser usually offers training, financial assistance, and a recognizable brand

10

In a Confucian culture, it would be common for a superior to reward the loyalty of a subordinate by bestowing blessings on him or her. These blessings are examples of

11

Tanya is planning a presentation on the best practices in communication. After much thought, she decides to restrict herself to just three key points. Tanya most likely decides to stick to just three key points in her presentation because:

12

The ________ is a combination of intermediaries and channels that producers use to reach its target customers

13

Trade shows and conventions, sales contests, quantity discounts, and free merchandise are ________ tools

14

Visuals can complement or even replace textual information

15

Explain cost structure and break-even analysis

Answer: Every company has a particular cost structure that determines how much it must spend to create and market its products. Some costs remain the same regardless of production and sales volume. This includes fixed and variable costs. The cost to create and sell each product is a combination of fixed and variable costs. A critical calculation in setting prices is break-even analysis, determining the number of units a firm must sell at a given price to recoup both fixed and variable costs–to "break even," in other words. The break-even point is the minimum sales volume the company must achieve to avoid losing money. Sales volume beyond the break-even point will generate profits; sales volume below the break-even amount will result in losses. Note that break-even analysis doesn't dictate what price you should charge; rather, it provides some insight into the price you can charge and begin to generate profit. With the break-even point in hand, you can then factor in the various strategic considerations to determine price using one of the methods discussed in the next section.

16

A compound sentence contains one main thought (independent clause) and one or more subordinate thoughts (dependent clauses)

17

How does outsourcing affect global supply chain management?

18

Dexter invests in Adderson & Lipton Co., a local bank in Arizona. He makes an investment that will reach maturity after a fixed term of two years. Dexter will regularly receive an interest on his investment, and this interest will be substantially higher than the interest he receives on the savings account he has in the same bank. In the context of financial securities, Dexter has invested in _____.

19

Avantika is a private accountant who passed a rigorous examination by the Institute of Management Accountants. After passing this examination, Avantika is a

20

To be effective, money must be readily received for the purchase of goods and services and for the settlement of debts. Which of the following characteristics of money does this statement reflect?

21

Apple and Lady Gaga have a shared interest in the paid integration of branded products into movies and online videos. This best exemplifies _____

22

Which of the following is one of the five goals of communicating negative information?

23

A Hospital/Surgical Expense policy was purchased for a family of four in March of 2013. The policy was issued with a $500 deductible and a limit of four deductibles per calendar year. Two claims were paid in September 2013, each incurring medical expenses in excess of the deductible. Two additional claims were filed in 2014, each in excess of the deductible amount as well. What would be this family's out-of-pocket medical expenses for 2013?

24

Rex Beauty Supply has ordered $5,000 worth of merchandise from Carrie's Beauty Supply, Inc. The invoice to Rex has discount terms of 2/10, net/30. Rex writes a check within ten days for

25

Devaluation increases the cost of foreign goods, while it decreases the cost of domestic goods to foreign firms

26

A return of part of the purchase price to the consumer is known as a _____.

27

Which of the following is the BEST example of how technology supports ethical conduct in hospitals?

28

Provide an example of a training opportunity and a development opportunity. What is the main difference between the two?

29

Which of the following is true about the three broad types of economic systems?

30

Barney Hendricks, who interviewed web developers for his company, told his colleagues over lunch that his top

31

When a firm refuses to allow union employees to enter the workplace, the action is known as a:

32

Prospecting application letters to prospective employers

33

Middle-level managers should have a high degree of _____ skills, because they act as the bridge between departments, coordinating people and projects

34

A trial for first degree murder is conducted in a criminal court and is considered a _____

35

Funny ads are a consumer favorite, because humor is not risky

36

A distribution of earnings to the stockholders of a corporation is a(n)

37

The generation born between 1980 and 1995 is known as

38

Advertising, personal selling, coupons, and sweepstakes are forms of the ________ aspect of marketing activities.

39

When seeking to understand political patterns in another country, which of the following should be considered?

40

Mac and Charlie own a car repair shop that they operate as co-owners. Both take an active role in the management of the business, and each accepts unlimited liability. Mac and Charlie operate as a

41

Preventing job discrimination is solely the responsibility of the human resources department

42

Employers use _____ interviews in which each candidate is asked the same questions from a list of questions developed beforehand. The goal is to ensure the interviews better predict performance

43

Identify a true statement about the Fed

44

Motivation affects an individual's internal process. Which of the following is not something that we would consider motivational for an individual?

45

Hundley Company is having a difficult time finding and retaining employees. The owner launches an investigation to learn more about the issues and what can be done to correct them. Where should he start his investigation?

46

Luxury automobile makers are likely to use an intensive distribution strategy

47

According to Maslow's hierarchy, a person buying insurance with income protection is attempting to satisfy physiological needs.

48

Economic ________ refers to the trend of some countries to establish laws that protect its business from competition from foreign imports

49

Quality control is a continual process of checking to make certain that there is consistency in the quality of products being produced.

50

Gary and his college friends often spend weekends hanging out at a small pub. Last weekend, after a few beers, one of his friends took the salt and pepper shakers from the table because they needed a set at their apartment. In this situation, this was not an unethical action because it was a restaurant and potential loss is figured into the prices.

51

A franchise can be formed

52

Which of the following is an example of equity financing?

53

Interventions selected in programming are designed to be:

54

How does an automated teller machine aid in the customer's ability to conduct transactions whenever needed?

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Business - Introduction To Business

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