ENTRE:1350 Midterm
Capitalism places paramount importance on the need for the government to intervene in the economy to ensure a fair and equitable distribution of income.
false
Despite their huge populations, China and India represent a much smaller opportunity in terms of size and economic growth.
false
External loss of control is a deep-seated sense that the individual is personally responsible for what happens in his or her life.
false
For entrepreneurs, there is no correlation between dollars earned and hours worked.
false
Gross Domestic Product (GDP) measures the total value of all the imports and exports of a nation on a quarterly basis.
false
In face to face communication, the verbal content of a message conveys much more meaning to the listener than the tone of voice and body image.
false
In the Forbes article about Bob Parsons, Bob boldly says "Luck has nothing to do with it."
false
In the accounting equation, assets are equal to liabilities minus owners' equity.
false
In the article "what is an entrepreneur" the writer indicated characteristics of an entrepreneur include vision, focus, money, and passion.
false
In the article about entrepreneurs you've never heard of, the founder of Adways suggests having a formal entrepreneurial education is the key to success.
false
In the article about how email can derail your job chances the writer indicated using "email stationary" was a great way to enhance your message.
false
The current ratio is calculated by dividing a firm's current liabilities by its total assets.
false
The vast majority of the richest people in the United States earned their wealth by obtaining employment in a major corporation and then working their way into a position of senior management within these organizations.
false
Alexis decides to check with his accountant as to how much money his company owes to the raw materials supplier. To determine this, Alexis should ask the accountant to provide him with the company's balance sheet.
true
Cash budgets normally cover a one-year period and show projected cash inflows and outflows for each month.
true
Dominic feels that an incredible string of bad luck has affected his personal life. He also feels that his boss is subjecting to unfair treatment at work for mo fault of his. Dominic's perceptions suggest he has an external loss of control.
true
Effective communication happens when one transmits relevant meaning to one's audience.
true
Franchising can be used by companies to move into foreign markets.
true
Globalization has made ethics and social responsibility complicated for workers at every level.
true
In Bob Parsons' 16 rules he says "Never let anybody push you around" and "never expect life to be fair"
true
In the New York Times article about accounting basics, the author talks about the value of tracking break-even.
true
In the article "Entrepreneurs Succeed by Showing..." the author points out there is usually not one big thing that is the key to success.
true
In the context of your career choice, the broader economy will influence the level of your personal financial success.
true
The chief financial officer of the NoveauNoir Production Company requests his accountant, Felipe, to prepare a customized report of the cost overruns at the company's production facility in Los Angeles. In this scenario, Felipe is a mangerial accountant.
true
The projected statement of cash flows would be helpful for a bank in determining if a business is going to be capable of paying back a loan.
true
Value is the relationship between the price of a good or a service and the benefits that it offers its customers.
true
When companies introduce innovative products and services worldwide, it increases the standard of living for populations.
true
A budgeted income statement is a projected financial statement that forecasts the types and amounts of assets a firm will need to implement its future plans and how the firm will finance those assets.
false
A corporation is a voluntary agreement under which two people act as co-owners of a business for profit.
false
A firm's operating budget represents the firm's overall plan of action for a specified time period.
false
According to your text, consumerism is a social movement focused on the consumption of highly visible, expensive items that improve a person's individual image among their peers.
false
As globalization gains speed, intercultural communication will become less important to business success.
false
In the context of the competitive environment dimension of a business, a product has value when its benefits to the customer are lesser than the price the customer pays.
false
Most of the entrepreneurs interviewed in the video on celebrity entrepreneurs indicated it was really all about luck.
false
Ms. Blakely was successful at everything she did because her dad made it clear failure was not an option.
false
Projects with potential for high returns generally have a low degree of uncertainty and risk.
false
Quotas are taxes levied against imports.
false
Rudy owns a small metal fabrication business that employs 23 workers. As the owner of a small business, one of the major advantages that Rudy enjoys while competing with larger firms is reduced burden of complying with government regulations.
false
Socially responsible employers stick to the state laws and do not go beyond them when it comes to providing a good working environment to employees.
false
A business email should have a compelling subject line.
true
A drawback of consumerism, which was adopted by some countries in the 1900s, was the inability for people to make basic choices such as where to work or what to buy.
true
A merger occurs when two independent businesses combine to form a new organization.
true
According to the video on capitalism, one tenant of capitalism is private property.
true
According to the video on capitalism, one tenant of capitalism is the profit motive.
true
Capital, one of the factors of production, includes machines, tools, buildings, information, and technology.
true
People decide to become entrepreneurs for a variety of reasons.
true
Sustainable development means weaving environmentalism throughout the business decision-making process.
true
The Global Entrepreneurship Monitor (GEM) shows that people living in high-income countries tend to be less willing to start their own business than people living in low-income countries.
true
The balance of trade plays a central role in determining the balance of payments.
true
There is no limit on the number of partners who can participate in a general partnership.
true
