Intro to Business Final

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In which of the following situations is it NOT legal to take "secondary action?"

US non-farm laborers

Around the time of its enactment, the Labor Management Relations Act was called all of the following, EXCEPT:

"An important piece of legislation"

Which of the following best defines a balance sheet?

A snapshot of a company's financial situation at a point in time

A promotion can be in the form of:

All of these answers

Suppose you are analyzing financial statements of a client. You should take into account which of the following factors?

All of these answers

The information in the statement of cash flows allows people to understand:

All of these answers

The process of destroying a target's reputation through PR is called:

All of these answers

The reason distributors embody economies of scale is that certain per unit costs are lower with each increasing unit. Which of the following costs are subject to this phenomenon?

All of these answers

Which of the following is a potential effect on a victim of sexual harassment?

All of these answers

Which of the following is the goal of using CRM software?

All of these answers

While holding on to too much inventory at once can pose a loss to the company, it is important to keep inventory on hand because

All of these answers

Which of the following is NOT included in the value a firm delivers to its customers?

All of these are part of value

Assuming you wanted to compare earnings separately from the influence of the financial leverage to the assets of the company. Which profitability ratio would you use?

Basic earning power

An interview during which the interviewer asks the applicant to reflect on past experiences is referred to which of the following:

Behavioral interview

What is the cheapest method of word of mouth promotion?

Brand advocates

A brand's action perceived by a person is called:

Brand experience

The benefits of employing a wholesale broker include all of the following, EXCEPT:

Brokers take title to the merchandise being marketed

Suppose the management at Hilton hotels was using profit optimization to better address the needs of market segments. In particular, they were focused on how to optimize the booking of a floor of hotel rooms. This level is called:

By group of goods

Newspaper vending machines pose a risk because they:

Can easily be manipulated

Psychographic segmentation can be best defined as:

Classifying consumers on the basis of individual lifestyles

Which of the following is NOT a benefit from direct selling?

Controlled marketing campaign

What type of financial manager usually oversees accounting and the budget department?

Controllers

Before deciding on using the sampling technique for new product introduction, marketers should:

Define the objectives of the sampling program

Assuming you own a small business with a low budget for advertising. What type of agency might you employ?

Design-only agency

The first step of efficient warehouse management is:

Designing the container of a product

Which type of store retailer saw a strong increase in popularity post World War II due to the growth of suburbs?

Discount houses

Which of the following is NOT a reason for passing the Equal Pay Act of 1963?

Discrimination is not morally right

In answering questions of shipping, delivery, and transport, supply chain management is addressing what type of problem?

Distribution strategy

Which stock performance ratio is the fraction of net income a firm pays to its stockholders in dividends?

Dividend payout ratio

Which of the following is NOT a characteristic of non-store retailers?

E-commerce is a shrinking channel of retail

Which of the following in NOT an aspect of brand management?

Each company uses one ad agency for all products

Which model of collective bargaining explains the union and the firm as bargaining over hours of work?

Efficient bargaining model

Which of the following is NOT required by ERISA?

Employers establishing pension plans

One of the best ways to help employees tolerate drug-testing is to:

Explain its importance in regard to safety

According to Nagle and Holden, buyers are more sensitive to the price of a product when the price is outside what they deem to be acceptable. This effect is called:

Fairness effect

Which one of the following industries is most likely to have the highest attrition rate?

Fast food

In the Steelworkers' trilogy, the supreme court concluded that:

Grievance arbitration was a preferred technique

What is it called when a product or brand is embedded in entertainment?

Guerrilla advertising

Which of the following is NOT an action of a labor union?

Helping individuals get hired

Which channel would most likely be used for an office stapler?

Producer to industrial distributor to industrial user

The marketing role that identifies customers' needs, and develops new products is called:

Product planning development

According to most sales theory, salespeople are taught to view targets as:

Prospective customers

Newspaper and magazine articles/reports, TVs and radio presentations are all examples of what type of promotion?

Public relations

Which one of the three forms of marketing has been most changed due to technology?

Relationship marketing

Assume that the total debt for Bounded Inc. was 9000 instead of 6500. How would this affect the implications of the debt ratio?

Risk would increase

In general, the cheapest form of transportation is:

Sea

Travel expenses for sales force would be placed under what category of the income statement?

Selling expenses

Which of the following methods of promotions has the most potential for good and for harm?

Social media

Job design that is focused on changing individual work to group work is called:

Socio-technical systems

Which of the following is NOT a characteristic of the service industry?

Tangible

Even with the Landrun-Griffin act in place, corruption in Unions exist because:

The Department of Labor fails to pursue action

Analyzing which financial statement will tell you about the financial health of a firm?

The balance sheet

Which of the following is NOT a characteristic of a marketing channel?

The channel institutions are solely under the control of the producer

What happens if the borrower defaults on paying back a secured loan, and the sale of the collateral is not enough to pay back the remainder of the loan?

The creditor obtains a deficiency judgement

Which of the following would be considered an intrinsic feature of the brand BMW?

The driving performance

The Taft-Hartley Act amended the NLRS in that it gave the right for:

The federal govrnment to legally break strikes?

Which of the following is NOT an implication of high debt ratio?

The firm has a lot of debt

Assume you are doing a liquidity test of a client before lending the client firm money. You realize that the quick ratio is .45. This indicates that:

The firm may not be able to meet current obligations

Which one of the following best explains the relationship between the marketing concept and market concept?

The market concept is used to fulfill the goals of the marketing concept

An employee would exercise their stock options if:

The market price is higher than the call price

The FLSA does NOT regulate which of the following:

The number of hours employees 16 years or older may work in any workweek

Media relations can best be explained as:

The relationship that a company or organization develops with journalists

The main role of distributors is:

To bridge the gap between buyer and seller

Which of the following is NOT a purpose of financial accounting?

To organize information for management

In which of the following sectors has there been a rise in labor unions membership?

US public sector

Determining the price of a good or service by the benefit that the customer receives is often referred to as:

Value-based pricing

Which of the following is NOT a situation in which premium pricing is not used to maximize profit?

Where the seller can achieve economies of scale by producing at high volume

The peak of labor union involvement occurred in what year?

1954

HRD as a process focuses on:

Both TD and OD equally

Which of the following is NOT an example of a promotion?

Pricing at a premium

Suppose the employees of a manufacturing company went on strike. Assuming that the company policy is not to negotiate with strikers, the company would most likely:

Hire replacement workers

The process of progressing an initial idea from birth to maturation can best be classified as:

Idea genesis

The main advantage for employers in offering employee benefits is:

Improve worker retention

The most important basis for creating a competitive advantages is to:

Increase value

The strategy behind intensive distribution includes which of the following:

Increased sales volume

The purpose of private sector accounting is different than that of the public sector, in that private sector accounting:

Is focused solely on profit

Initial product testing differs from test marketing because product testing:

Is initiated by the producer

Which of the following is NOT an advantage of on-the-job training?

It allows people to concentrate thoroughly on the training itself

Which of the following is NOT true about the indirect method?

It converts each item on the income statement to a cash basis

If a company is not a pioneer what type of growth strategy should it consider?

It depends on the firm and industry

What is the most effective medium of promotion?

It depends on the product

Which of the following is NOT true about revenue?

It is excluded from the income statement

Which of the following is NOT a characteristic of the commercialization stage?

It is the penultimate stage of new product development

Having a formalized sales process is important because:

It mitigates risk for both buyer and seller

In comparing pull vs. push marketing, push marketing is better because:

It reaches a wider range of consumers

Which of the following is NOT true about income statements?

It represents a single moment in time

Niche marketing is fundamentally different than most other forms of advertising because:

It targets a specific group

To be considered running at peak efficiency, the material handling system should be set up so that:

Items are touched the least amount possible

The NLRA was criticized by employers for:

Its expansive definition of employee

A method to discover the differences and similarities among jobs is called:

Job analysis

Among the various approaches to profession development, one approach calls for solving practical dilemmas relating to instruction through participation with other professionals in examining practice. This approach is called:

Lesson study

Which of the following is NOT a federal agency the enforces the ADA?

Mine Safety and Health Administration

White male privilege is most prevalent in which type of organization?

Monolithic

Which of the following is NOT a characteristic of cost-plus pricing?

Most profitable

Suppose your role at an insurance firm is to enlist 100 individuals per year in health insurance. You would most likely be classified as a(n):

Order-getter

Which of the following employers would NOT be covered under the ADEA?

Organization with less than 20 employees

Suppose a company brought a new product to market with price-sensitive customers, low barriers to entry, and the probability of rapid acceptance by potential buyers. Which pricing strategy would this company likely employ?

Penetration

Monitoring customer satisfaction is most important in what type of market?

Perfect competition

The four P's of marketing are:

Price, Product, Place, Promotion

Which of the following is an accurate depiction of the last sixty years of the American labor movement?

While the male involvement in labor unions has declined, female involvement is higher than ever


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