biz 200 exam 1

Effective communication happens when one transmits relevant meaning to one's audience. A. True B. False

True

In the context of communication, taking notes helps one concentrate and listen better. A. True B. False

True

The chief financial officer of 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 managerial accountant. A. True B. False

True

Where would you find how much money was expensed for wages and salaries last year? 1. Income Statement 2. Balance Sheet 3. Statement of Cash Flow 4. FASB Statement

1. Income Statement

Which of the following statements is true of primary data? 1. It is customized to meet a marketer's needs. 2. It tends to be lower in cost than secondary data. 3. It is available to all the competitors of a marketer. 4. It is frequently outdated.

1. It is customized to meet a marketer's needs.

Formatting changes only the appearance of data—it does not affect the data itself. 1. True 2. False

1. True

The subject line is a power tool for using email communication effectively. 1. True 2. False

1. True

posture is an important part of business etiquette 1. True 2. False

1. True

In George's Sales Data worksheet, the result for a formula in cell H14 is #####. What should George do? 1. increase the width of column H 2. provide a correct argument or operand 3. run the calculation again to find the available value 4. replace the formula in cell H14 with one that does not divide by 0

1. increase the width of column H

The accounting equation may be expressed as 1. owner's equity = assets − liabilities. 2. revenue − expenses = net income. 3. revenue = net income − expenses. 4. liabilities − owner's equity = assets.

1. owner's equity = assets − liabilities.

How do you calculate net income? 1. total revenue - total expenses 2. total expenses - total revenue 3. total Assets- total liabilities

1. total revenue - total expenses

Which communication channel is most appropriate for delivering important information when immediate feedback is needed? 1. Email 2. Face-to-Face meeting 3. Memo 4. Texting

2. Face-to-Face meeting

It is appropriate to wear pajama pants to a Zoom interview because they won't be seen on camera. 1. True 2. False

2. False

Which report shows revenues, expenses, and net income? 1. Balance Sheet 2. Income Statement 3. Statement of Cash Flow 4. Sales Report

2. Income Statement

Which format will not be recognized by Excel as a date 1. 1/11/20 2. January 1st 3. 1-Jan 4. January 1, 2020

2. January 1st

Andy works to create the financial statements for his company, which of the following could be his job title? 1. Financial Accountant 2. Managerial Accountant 3. Senior Analyst 4. CFO

2. Managerial Accountant

_____ refers to dividing the market based on consumer attitudes, interests, values, and lifestyles. 1. Geographic segmentation 2. Psychographic segmentation 3. Behavioral segmentation 4. Demographic segmentation

2. Psychographic segmentation

The first step in creating an effective worksheet is to make sure you ____. 1. apply font formatting 2. understand what is required 3. enter the data 4. insert a chart Answer

2. understand what is required

Why would the government be interested in an income statement? 1. Check company expenditure 2. Check stock 3. Check profit tax 4. Check CEO's bonus

3. Check profit tax

Which of the following is not part of active listening? 1. Provide feedback 2. Defer judgment 3. Looking at your phone during conversation 4. Respond Appropriately

3. Looking at your phone during conversation

The marketing strategies of Nitro are focused on males who are in the age group of 16 to 25 years and who enjoy sports. 1. emotional market 2. niche market 3. target market 4. consumer market

3. target market

The slogan: "Donate blood, save lives, stay healthy! " Which of the following marketing strategies does this illustrate? 1. People marketing 2. Event marketing 3. Place marketing 4. Idea marketing

4. Idea marketing

What was the FIRST zoom etiquette rule 1. Limit Distractions 2. Go Crazy 3. Show your pets :) 4. Keep Mic off and Camera on

4. Keep Mic off and Camera on

Which of the following is an example of active voice? 1. The BIZ test was failed by the students 2. The test has been completed poorly by the students 3. The students were overwhelmed by the test 4. The students finished the test with an A

4. The students finished the test with an A

Sam has just surveyed 100 students. Since it's important for Sam to keep % of his whole reviewer base, which chart? 1. bar 2. scatter 3. column 4. pie

4. pie

Before starting his presentation on the benefits of taxi services, Mark engages the listeners by asking them to imagine themselves driving in a drunken state. He goes on to ask them the possible outcomes that they can imagine. This exercise ensures that Mark gets the listeners' complete attention. In the given scenario, Mark uses _____ to open his presentation. A. audience involvement B. statistics C. engaging questions D. a simile

A

Brody Dominic is a famous movie actor and the brand ambassador for his clothing company, Dominikent. Consumers tend to like the collection at Dominikent mainly because Dominic is a style icon himself. Which of the following marketing strategies does this scenario best illustrate? A. People marketing B. Place marketing C. Event marketing D. Idea marketing

A

To give the company's stockholders, creditors, and other external stakeholders an accurate idea of the company's overall performance, Rowensport Corporation, a multinational company, releases statements that contain details of the company's profits and losses over the past five years. In this scenario, the company is most likely involved in _____. A. financial accounting B. cost accounting C. follow-up auditing D. social auditing

A

When it comes to creating customer satisfaction, perceived value is just as important as actual value. A. True B. False

A

Your target market is the group of people who are most likely to buy your product. A. True B. False

A

_____ are local offices—affiliated with the U.S Small Business Administration—that provide comprehensive management assistance to current and prospective small business owners. A. Small Business Development Centers B. Small Business Incubation Offices C. Small Business Advancement Stations D. Small Business Creation Sites

A

Fiona, an industrial psychologist, is asked to give a presentation on the benefits of healthy colleague relationships to the employees of a textile company. In her presentation, Fiona uses various technical terms, all related to the subject of psychology, because of which the employees find it difficult to understand her and quickly lose interest in the presentation. In the given scenario, the employees of the textile company face a(n) _____ to communication. A. perceptual barrier B. language barrier C. organizational barrier D. physical barrier

B

Gemini Inc., a large conglomerate, offered Timothy's new logistics company the much required financial support in exchange for a 40% ownership in the company. It also provided Timothy with an experienced group of people to help him make crucial decisions for the company. In the given scenario, which of the following statements is true of Gemini Inc.? A. It is an angel investor. B. It is a venture capital firm. C. It is a sole proprietor. D. It provides commercial loans.

B

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 language. A. True B. False

B

In the context of balance sheets, which of the following is a difference between liabilities and owners' equity? A. Liabilities refer to the claims internal stakeholders have against the external stakeholders, whereas owners' equity refers to claims external stakeholders have against the internal stakeholders. B. Liabilities indicate the claims outsiders have against the firm's assets, whereas owners' equity refers to the claims the owners have against their firm's assets. C. Owners' equity indicates the claims internal stakeholders have against the firm's assets, whereas liabilities refer to the claims external stakeholders have against the firm's assets. D. Owners' equity indicates the claims outsiders have against the firm's assets, whereas liabilities refer to the claims the owners have against their firm's assets.

B

In the context of social responsibility, environmentally friendly fashion, such as clothing made of organic cotton, is an example of _____. A. astroturfing B. green marketing C. environmental scanning D. greenwashing

B

In the event that a large company has to downsize, the middle-aged workers who are laid off find it difficult to find new jobs. When such workers decide to start their own businesses, they: A. become welfare recipients. B. are called necessity entrepreneurs. C. become post-retirement workers. D. are called baby boomers.

B

Technological tools such as the Internet and email have: A. decreased the importance of entrepreneurship in the national economy. B. made it easy for small business owners to manage their firms on the go. C. made it harder for small businesses to compete against large businesses. D. increased the number of legal regulations that small businesses should comply to.

B

When buying a franchise, _____. A. the first-year failure rate is very high B. the initial purchase price can be steep C. it can be hard to get credit from suppliers D. it takes sheer sweat equity to build a customer base

B

Which of the following communication channels should ideally be used when the content is uncontroversial and a quick response regarding relatively simple issues is required? A. Telephone conversation B. Texting C. Videoconferencing D. Face-to-face meeting

B

Which of the following is a criterion that needs to be fulfilled by an individual to be recognized as a certified public accountant? A. He or she must serve the Securities and Exchange Commission for at least two years after passing the certified public accountancy examination. B. He or she must complete the equivalent of 150 semester hours of college education with a heavy emphasis in accounting and other business-related courses. C. He or she must complete at least three years of direct work experience in the field of accounting. D. He or she must pass a rigorous five-day, six-part examination.

B

Which of the following statements is true about nonverbal communication? A. Tone of voice is not important for effective communication. B. People communicate through a wide range of facial expressions. C. Body language transmits less meaning that the actual words of the message. D. Gestures do not particularly influence the interpretation of the message by listeners.

B

Which of the following statements is true of entrepreneurs who possess tolerance of failure? A. They do not accept financial risk willingly. B. They tend to view nonsuccess as a chance to learn. C. They never stake their reputation on the success of an unproven product. D. They often name themselves losers when they fail.

B

Which of the following statements is true of loyal customers? A. They require more service. B. They forgive marketers' mistakes. C. They do not refer their friends. D. They may not provide feedback.

B

_____ is a vibrant, compelling presentation style that grabs and holds the attention of the audience. A. Hand signaling B. Dynamic delivery C. Active listening D. Statistical texting

B

In the context of business communication, one should: A. use words such as "his" and "him" when one does not know the gender of the addressee. B. create accountability by using passive voice. C. not use slang in either written or verbal communication. D. not use active voice to emphasize key points.

C

In the context of entrepreneurs, which of the following statements is a difference between an internal locus of control and an external locus of control? A. An internal locus of control is an entrepreneurial trait, whereas an external locus of control is not. B. An internal locus of control does not involve self-reliance, whereas an external locus of control does. C. An internal locus of control involves personal responsibility, whereas an external locus of control does not. D. An internal locus of control is not applicable in market niches, whereas an external locus of control is.

C

In the context of opportunities and threats, overhead costs for small businesses: A. tend to be much higher than large businesses. B. are about the same as big companies. C. are often lower than big companies. D. tend to decrease as they grow bigger in size.

C

The three kinds of basic financial statements that are prepared in financial accounting are: A. statement of debts, letter of credit, and articles of incorporation. B. comfort letter, master budget, and credit statement. C. balance sheet, income statement, and statement of cash flows. D. pro forma report, request for proposal, and articles of incorporation.

C

Which of the following is a drawback of primary data? A. It is frequently outdated. B. It cannot be customized. C. It tends to be expensive. D. It may not meet your specific needs.

C

Which of the following is a threat that a small business is most likely to face? A. Unavailability of technology B. Incompetent customer service C. High risk of failure D. High overhead costs

C

Which of the following statements is true about listening? A. For most people, only 15% of learning is derived from listening. B. Listeners are focused and determined to pay attention 75% of the time. C. For most people, listening is much slower than thinking. D. Hourly employees are likely to spend 90% of their time listening.

C

_____ indicate the cash a firm spends, or other assets it uses up, to carry out the business activities necessary to generate its revenue. A. Stockholders' equities B. Remissions C. Expenses D. Accounts receivable

C

_____ is the profit or loss a firm earns in the time period covered by the financial statement that reports the revenues and expenses. A. Shared debt B. Owners' equity C. Net income D. Cash flow

C

_____ refers to dividing the market based on consumer attitudes, interests, values, and lifestyles. A. Geographic segmentation B. Behavioral segmentation C. Psychographic segmentation D. Demographic segmentation

C

In the context of the marketing mix, the _____ of a product includes all of the ways that marketers communicate about the product. A. distribution strategy B. pricing strategy C. product strategy D. promotion strategy

D

In the context of various funding options for small businesses, which of the following statements is a difference between angel investors and venture capital firms? A. Angel investors fund only nonprofits, whereas venture capital firms do not fund nonprofits. B. Angel investors include private organizations, whereas venture capital firms include only government organizations. C. Angel investors focus on start-ups in their later stages, whereas venture capital firms focus on low-potential start-ups. D. Angel investors are wealthy individuals, whereas venture capital firms are companies.

D

Understanding the _____ begins with analysis of market share. A. social environment B. technological environment C. demographic strengths D. competitive environment

D

In order for CPA firms to perform audits with integrity, they must be tied to the firms they audit. A. True B. False

False

In the accounting equation, assets are equal to liabilities minus the owners' equity. A. True B. False

False

Recycle, don't drink and drive, buckle your seatbelt, support our political party, donate blood, and don't smoke are all examples of popular causes that use event marketing. A. True B. False

False

Which of the following statements is true of customer relationship management (CRM)? 1. Can be done without collecting, managing, and applying data. 2. Works best to combine marketing communication with 1-on-1 personalization 3. Removes the possibility of having a limited relationship with customers 4. Increases seller-customer relationship by decreasing the value

Works best to combine marketing communication with 1-on-1 personalization

A product marketed to customers who give importance to using environment-friendly products in their daily lives. 1. global marketing environment 2. green marketing 3. cognitive dissonance 4. behavioral segmentation

green marketing

The Internet has opened the door for __, which is creating products tailored for individual consumers on a large scale. 1. corporate philanthropy 2. mass customization 3. ethical consumerism 4. flow production

mass customization

Inventory is an example of a current asset. A. True B. False

true