Business Final

Of the following, which would be considered the most speculative investment?

A- Commondities

A firm that operates on a worldwide scale is called...

A- Multinational Enterprise

A- Specific statements detailing what the organization intends to accomplish as it goes about its mission are known as its...

A- Objectives

Many economics refer to the average level of output per worker per hour as....

A- Productivity

Initiating a social responsibility program takes..

A- the commitment of top executives

An employee's decision to inform the press...... government officials of his or her firm's unethically is referred to as...

A- whistleblowing

A measurement that uses technology to detect the moods, attitudes, or emotions of those who experience a social media activity is known as...

B- (sentiment analysis)

A_________ budget estimates a firm's expenditures for major assets.

B- Capital

Assets that can be converted quickly into cash or that will be used in one year or less are....

B- Current Assets

A computer program that uses artificial intelligence to imitate a human ability to think is a....

B- Expert System

The selling and shipping of raw materials or products to other nations is called...

B- Exporting

A type of trade restriction that limits the amount of a particular good that may be imported into a country given a period of time is...

B- Important Quota

When money is used as a single standard or yardstick to assign values to and compare the value of products, services or resources, it is a.....

B- Measure of Value

A plan designed to increase the number of minority employees at all levels within an organization is called..

B- an affirmative action program

A marketing plan includes all of the following except.....

B- product production schedules

A privately owned company that provides venture capital to small firms is...

B- small-business investment company

Cash inventory and equipment are listed as_______ on a firm's balance sheet.

C- Assets

A_______ is a financial institution that provides financial services to members who often must purchase at lease one share of ownership.

C- Credit Union

Which is not one of the four resources used by business today?

C- Governmental

Which one of the following is not considered an area of specialization in management?

C- Inventory

A________ order is an order to buy or sell a security at the current market price.

C- Market

Tangible, physical resources that a manufacturer used in carrying out its business are known as what type of resource.

C- Material

Which of the following is not one of the steps in implementing the market concept?

C- Mobilizing marking resources to provide, promote, and distribute products

A corporation whose stock is bought and sold on security exchanged and can be purchased by any individual is referred to as a______ corporation.

C- Open

A government agency that was created to assist, counsel, and protect the interests of small business in the U.S is called....

C- The Small Business Administration

An organization of nations formed to promote the free movement of resources and products among its members to create common economic policies is.....

C- an economic community

Software designed to infiltrate a computer system and disrupt normal computer activities is known as......

C- computer virus

Beginning inventory + net purchases - ending inventory =

C- cost of goods sold

All of the following are characteristics of the decline stage of the product life-cycle expect...

C- increase consumer awareness of the product

Which of the following would be paid first?

C- interest on corporate bonds

The prime interest rate is the....

C- lowest rate charged by a commercial bank

A budget is a financial statement that projects income and/or expenditures over a specified future period.

True

A monopoly is market or industry with only one seller

True

Another name for the balance sheet is the statement of financial position

True

Consumerism consists of all those activities that are undertaken to the project the right of consumers in the dealing with business

True

For a sole proprietorship and partnership, unlimited liability is a legal concept that holds a business owner personally responsible for all the debts of the business.

True

Franchising is actual granting of a franchise.

True

International business consists of all business activities that involve exchanges across national boundaries.

True

Marketing research is the process of gathering, recording, and analyzing data concerning a particular marketing problem.

True

One of the ways that the Fed can reduce the nation's money supply is to sell government securities on the open market.

True

Personal investment is the use of your personal funds to earn a financial return.

True

Profit is the payment that business owner receive for assuming the considerable risk of ownership

True

Six basic rights of consumer are the right to safety, the right to be informed, the right to choose, the right to be heard, the right to consumer education, and the right to service

True

Social responsibility is the recognition that business activities have an impact on society and the consideration of that impact in a business decisions.

True

Strategic planning is the process of establishing an organization's major goals and objectives and allocating the resources to achieve them.

True

The balance of trade is the total value of a country's exports less than the total value of its imports over some period of time.

True

The basic idea behind asset allocation is to lessen investment risk

True

The most important element in the success of a branded product is consumers confidence in the product.

True

The only difference between the definition of business and e-business is that e-business requires that sales be conducted through the Internet

True

The primary reason for small-business failure is mismanagement has a desire to determine his or her own destiny, and is willing to find and accept a challenge.

True

The type of person likely to start a small business is independent has a desire to determine his or her own destiny and is willing to find and accept a challenge.

True

Transfer pricing involves the sale of a product to another unit within the same organization.

True

Typically, long-term loans are normally repaid in three to seven years.

True

When a manager allocated resources between different departments, he or she is acting in a decisional role.

True

Wiki is a collaborative online working space that enables member to contribute content that is then sharable with other people.

True

An argument for trade restriction is that it protects national security.

False

Approximately one-third of our nation's total production consists of consumer products

False

Before a corporation can receive a corporate charter, it must submit charter information to the county clerk where the business is located.

False

Competition-based pricing results in a high price when producing demand is strong and a low price when demand is weak.

False

Consumerism consists of all those activities that are undertaken

False

Data mining refers to a small piece of software code that measures how long a user stays at a particular Web site.

False

Debt capital is money obtained from the sale of shares of ownership in a business.

False

Different products may not result in different marketing mixes.

False

Financial accounting provides managers and employees within the organization with the information needed to make decisions about a firm's financing investing marketing and operating activities.

False

For manager or employee information and data mean the same thing.

False

If a country has a good barter system, there is no need for metal coins or paper bills

False

If a firm is using cost-based pricing, it considers cost and revenue secondary to competitors prices.

False

Influences in a society and its culture that result in changes in attitudes, beliefs, norms, customs, and lifestyles are known as economic forces.

False

Middle-level managers are generally responsible for developing an organization's mission.

False

Of the three styles of leadership, the most effective is the participative style.

False

Selling short is the process of buying stock with the expectations that it will increase in value and then can be sold at a profit.

False

Social media communities encourage one-way communication from the firm to its customers

False

The Federal Reserve System was established in 1913 to provide home mortgages for qualified applicants.

False

The Securities Investor Protection Act established the investment risk

False

The U.S Comptroller of the Currency must charter a state bank

False

The ability to produce a specific product more efficiently than any other nation is called comparative advantage.

False

The accounting equation is assets + liabilities = owners equity

False

The corporate officers of a corporation are elected by the stockholders.

False

The marketing plan doesn't include the exact allocation of resources to achieve the marketing objectives,

False

Today, there are more corporations than there are sole proprietorship and partnership in the U.S.

False

Trade credit is the least popular form of short-term financing.

False

A blog is a digital audio or video file that people listen to or watch online.

False

A small business is one that is dependent, operated as a not-for-profit organization and is not dominant in its field.

False

To reduce the supply of money in the economy which of the following actions would the Federal Reserve take?

D- (Increase the reserve requirement)

To maintain and effective product mix a firm often must eliminate some products. This process is called....

D- (product deletion)

Since 1926, stocks have returned just below____ percent a year.

D- 10 years

The most basic form of corporate ownership is....

D- Common Stock

The ease with which an investment can be converted into cash is referred to as...

D- Liquidity

Today, the U.S. economy is often characterized as a____________ economy.

D- Mixed

One factor that influences ethical decision making is the_________ factor.

D- Opportunity

A website that allows a company to share information in order to increase customers knowledge about its products create a conversation between the firm and consumers and provide an active forum for testing new ideas is a....

D- blog

A form of corporation that has no more that 100 stockholders and eliminated the problem of double taxation is a....

D- joint-venture corporation

Typical quantitative measurements for social media Websites include.....

E- All of the Above

Business seem to cluster in which of the following industries?

E- All of the above

The borrower's financial ability to meet current obligations is referred to as...

E- Capacity

Corporate stock that has voting rights is referred to as_____ stock.

E- Common

Which of the following is not one of the four states in a business cycle...

E- Deficit

Income less taxes, savings, food, clothing, and housing is ________ income.

E- Discretionary

________ markets consist of churches not-for-profit private schools, and hospitals civic clubs, fraternities and sororities, charitable organization and foundation.

E- Institutional

A product with no brand at all is called a...

E- Plain-package product