intro to business final

which of the following best describes organizational plurality

all members are empowered to contribute in a way that maximizes the benefits to an organization, customers, and themselves

---- are offered by banks and other institutions like credit unions A) corporate bonds B) certificates of deposit C) common stocks D) government securities

A

---- is the first step in the training and developmental process designed to introduce employees to the company culture and provide key administrative information A) orientation B) an interview C) a performance appraisal D) job analysis

A

------ is a spontaneous financing granted by sellers when they deliver goods and services to customers without requiring immediate payment A) trade credit B) a revolving credit agreement C) commercial paper D) a line of credit

A

Data mining allows organizations to: A) analyze vast amounts of data to identify useful information that has been hidden B) guide managers through the decision making process C) encourage collaboration among employees and business partners D) access an array of computing resources without investing an expensive new hardware

A

Enterprise Resource Planning (ERP) Systems are A) complex B) cheap C) easy to implement D) user-friendly

A

Fatima enjoys online shopping as it allows her to buy things from a wide range options from the convenience of her home. she recently bought a food processer online. in this scenario, Fatima is involved in. A) business-to-consumer- e-commerce B) business to business e-comerce C) business-to-goverment e-commerce D) consumer-to-business e-commerce

A

From a legal perspective, the two kinds of sexual harassment are _____. A) quid pro quo and hostile work environment B) international discrimination and dominant minority C) adverse impact and desperate treatment D) affirmative action opportunistic behavior

A

Websites that incorporate interactive and collaborative features to create a richer, more interesting, and more useful experience for their users are known as _____. A) Web 2.0 sites B) interNIC sites C) internet2 sites D) extranet sites

A

a----- allows the cardholder to make a purchase now and pay the card issuer later A) credit card B) check card C) bank card D) debit card

A

according to maslow, which of the following is on top of the hierarchy of needs? A) self- actualization needs B) physiological needs C) self esteem needs D) safety needs

A

dividends of a company are A) a distribution of earnings that are paid to a corporation stockholders B) different kinds of stock a company offers its shareholders C) legally mandated earnings of stockholders D) money from illegal stock transactions

A

in the context of equity theory, pay, fringe benefits, status symbol, and job titles are assignments are examples of. A) outcomes B) referents C) inputs D) valences

A

the preparation of operating budgets begins with the development of an A)sales budget B) budgeted income statement C) capital and taxes budget D) expenditure budget

A

the tangible and intangible features of a product are sometimes called the A) customer benefit package B) product layout C) value chain D) critical path

A

the--- required firms with 50 or ore employees to provide up to 12 weeks of the job secure, unpaid leave on the birth or adoption of a child or the serious illness of a spouse, child, or parent A) family and medical leave act of 1993 B) Americans with disabilities act of 1990 C) equal pay act of 1963 D)fair labor standards act of 1938

A

which of the following acts provides for jury trials and punitive damages for employment discrimination on the basis of race, color, religion, or nation origin? A) civil rights act of 1991 B)title VII of the civil rights act of 1964 C) equal pay act of 1963 D) age discrimination in employment act of 1967

A

which of the following defines leadership? A) it is the process of influencing others to achieve group or organizational goods B) it is the perceived fairness of the process used to make reward allocation decisions C) it is the process of changing behavior by changing the consequences that follow behavior D) it is the step taken by the organization to create employment opportunities for minorities.

A

which of the following is an employee contribution retirement plan A) Roth individual retirement account B) 401(K) plan C) a traditional individual account D) a stock bonus plan

A

the--- was an $825 billion economic stimulus package, passed by congress designed to turn the economic by cutting taxes building infrastructure and investing in green energy

American recovery and reinvestment act

---- is a simple method incorporated into a production process designed to eliminate or greatly reduce errors A) A Poka-yoke B) six sigma C) just in time production D) a critical path

B

Kiara, while trying to login to her bank website, visits a scammer's fake, official looking website and provides her personal and financial information the next day she finds out that the amount has been deducted from her account that she has not transacted. she registers a complaint and finds out that the website which she logged in was a fake website. in the scenario, Kiara is a victim of A) Phishing B) pharming C) hacking D) clickjacking

B

Martha sued Joseph for plagiarizing her song " The Speaking Parrots". released as a single in her 2007 album called exhaustion , Martha alleged that Josephs song, titled as you speak , was an unauthorized rip off of her original hit and that joseph infringed her copyright work. in this scenario, josephs actions can be referred to as A) Phishing B) piracy C) pharming D) trademark

B

Scalesto Corp. is a law firm that also provides online support regarding lawsuits. to help its clients, it has a team dedicated to identify useful information from the companies database. in this scenario, Scalesto most likely uses-- to analyze vast amounts of data A) cybermedia B) data mining C) an expert system D) intranet

B

according to goal setting theory --- is the extent to which a goal is hard or challenging to accomplish A) goal valence B) goal difficulty C) goal instrumentally D) goal ambiguity

B

in operations management quality is defined in the term of A) how well the ratio of cost to output fairs B) how well a product satisfies customer presences C) the number of defects per thousand units of output D)the time taken to inspect one unit of a product

B

in the context of balance sheets, resources owned by a firm are known as A) holdings B) assets C) capitals D) liabilities

B

in the context of e commerce most websites transmits online payment information using ---- to ensure safe transactions A) an intranet B) a secure socket layer protocol C) interINC D) Hypertext Markup language

B

in the context of owners equity which of the following is true of retained earnings A) they refer to a firms additional profits that are used for paying executive salaries B) they are accumulated earnings reinvested in a company rather than being paid to the owners C) they are a firm's earnings that are kept aside for crises management situations D) they refer to salaries that are withheld in case an employee is involved in fraudulent activities

B

one of the first steps in the human resource (HR) planning process should be A) to forecast future human resource requirements B) to figure out where the company stands in terms of human resource C) to create a pool of qualified candidates D) to train new employees and orient them with the organization's culture

B

one technique for establishing a sizable saving balance is to A) follow the pay yourself last approach B) have a predetermined amount from each payback automatically deposited into the savings account C) invest in one specific financial security rather than invest in the diversified financial portfolio D) use traditional banks instead of online savings banks because they typically pay higher rates of interest

B

the purpose of --- is to protect creditors by preventing the borrower from pursuing policies that might undermine its ability to repay the loan A) factors B) covenants C) corporate bonds D) retained earnings

B

the time value of money reflects the fact that A) spontaneous financing is a particularly important source of financing for small businesses B) it is best to have money today so it can be put to work sooner to make even more money C) a covanent requires the borrower to agree not to borrow any additional funds until they specified length of the current loan D) long term investments are more profitable than short term investments

B

which of the following is a function of leaders A) leaders solve the problems that employees face B) leaders inspire people and take a long term view C) leaders try to control and limit choices for others D) leaders focus on the mean of getting things done

B

which of the following is a true statement about personal investing? A) every security investment will generate money B) in general, riskier investment strategies offer the potential for higher returns C) the buy-and-hold approach of securities results in substantial gains in a short time period D) individuals who invest in securities must use the services of an investment bank

B

which of the following statements is true of common stockholders A) they are legally entitled to annual dividends B) they are prone to a significant degree of risk C) their average rate of return is lower than that of investors in other financial instruments D) they are safe from incurring capital losses

B

--- are safe and highly liquid assets that many firms list with their cash holdings on their balance sheet A) trade credits B) marketable derivatives C) cash equivalents D) cash certificates

C

----- is a management tool that explicitly shows how a firm will acquire and uses the resources needed to achieve its goal over a specific time period A) outsourcing B) benchmarking C) budgeting D) auditing

C

Brianne's inbox is clogged up by unsolicited email advertisements and has more number of these mails than legitimate messages this has made it difficult for her to manage her mails in this scenario the unwanted email advertisements that Brianne has received are A) worms B)Firewalls C) spam D) spyware

C

Mervin, an employee of a non governmental organization conducts a survey among children about the awareness of traffic rules the facts and figures collected by him are processed and organized by an analectic team can be referred to as A) statistics B) data C) information D)cybermedia

C

corporations that get into serious financial difficulties sometimes A) fall back on their bonds B) buy more bonds C) default on their bonds D) resell their bonds

C

financial capital refers to the A) money that a business earns in sales, minus the expense B) cost the business insures when its expenses are greater than its revenue C)funds a firm uses to acquire its assets and finance its operations D) returns that a firm pays its owners for their investments in the company

C

financial managers evaluate a firms current strengths and weaknesses by computing ratios that compare values of key accounts listed on their firms A) prospectus and operating budget B) statment of cash flows C) balance sheet and income statement D) cost budget statements

C

in the context of balance sheets, accounts receivable is an example of A) current liability's B) immovable assets C) current assets D) depreciated liabilities

C

in the context of employee selection which of the following statements is true of employment testing A) it rarely includes drug testing B) it takes place either before or after the evaluation process C) physical exams are highly regulated by state and federal law D) skills testing and personality testing do not carry any legal risk

C

in the context of equity theory, --- occurs when a referent outcome/input (O/I) ratio is better than ones own (O/I) ratio A) distributive justice B) overreward C) underreward D) procedural justice

C

the three kinds of basic financial statements that are prepared in financial accounting are A) statements 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

unlike goods, services are A) tangible B) consumed C) experienced D) palpable

C

which of the following define motivation A) it is the process of changing behavior by changing the consequences that follow behavior B) it is the attractiveness or desirability of a reward or outcome C) it is the set of forces that initiates directs and makes people persist in their efforts to accomplish a goal D) it is perceived relationship between effort and performance

C

which of the following is a difference between a job description and job specifications A) a job description might include the education and experience required for a job, whereas job specifications might include the responsibility for a specific position B) a job description in quantitative, whereas job specifications are qualitative C) a job description defines the job holder's responsibilities, whereas job specifications define the qualifications necessary to a job D) a job description is informal in nature, whereas job specifications are formal in nature.

C

which of the following statements is true of a socially responsible firm A) it increases the bargaining power of the buyers B) it has high employee turnover C)it has an obligation to respect the needs of all stakeholders D)it emphasizes maximizing shareholders values

C

---- are lump sum payments, typically to reward strong performances from individual employees A) commissions B)salaries C) wages D) bonuses

D

---- are ratios that measure the rate of return a firm is earning on various measures of investment A) liquidity ratios B) activity ratios C) leverage ratios D) profitability ratios

D

---- forecast the types and amounts of assets a firm will need to implement its future plans and help financial managers determine the amount of additional financing the firm must arrange in order to acquire those assets A) the query report B) the cash budget C)a statement of cash flows D) the budgeted balance sheet

D

---- refers to noncash compensation, including programs such as health insurance, vacation, and childcare. A) gratuities B) bonuses C) commissions D) benefits

D

an ---- is a financial intermediary that specializes in helping firms raise financial capital by issuing securities in primary markets A) credit union B) commercial bank C) savings and loan association D) investment bank

D

financial managers use ---- to assess the financial strengths and weaknesses of their firms A) financial leverage B) value stream mapping C) cost accounting D) financial ratio analysis

D

in 2010, the --- issued a ruling that makes it more difficult for profit seeking firms to offer unpaid or low wage internships A) U.S. Department of education B) U.S. department of finance C) U.S. department of revenue D) U.S. department of labor

D

in the context of budget preparation, the master budget of a firm organizes the --- into a unidentified whole. A) static budget and the cash flow budget B) static budget and the financial budget C) cash flow budget and the operating budget D) financial budget and the operating budget

D

leadership style is: A) the extent to which a leader focuses on productivity B) the process by which a person becomes a leader C) the extent to which a leader believes in his or her abilities D) the way a leader behaves toward followers

D

the federal reserve system was A) given the responsibility of being a watchdog of the international banking system B) formed to serve as a district level bank for all the sates in the United States C) created by the financial service modernization act of 1999 D) created to serve as the central bank in the United States

D

the two broad categories of software are A) open source software and data software B) embedded software and business software C) server software and proprietary software D) system software and application software

D

which of the following is a source of long term funds for firms A) trade credit B) revolving credit agreements C) factoring D) corporate bonds

D

which of the following statements is true of angle investors A) they usually fund start ups and often require the firms to pledge collateral to back the fund B) they typically invest in low-risk opportunities that offer the possibility of marginal rates of return C) they usually fund mature firms that have an established track record D) they typically provide funds to start ups in exchange for a share of ownership

D

the --- of 2010 expanded the Fed's regulatory authority over nondepository financial institution such as hedge funds and mortgage brokers that had previously operated with little regulatory oversight or accountability.

Dodd-frank act

which of the following statements is true of total quality management (TQM)

It consists of self-directed work teams.

which of the following is true of diversity

It decreases absenteeism.

in the context of financial statements which of the following statements is true of large corporations

Large corporations with publicly traded stock must provide an annual report containing financial statements to all stockholders.

which of the following is true of managers

They are concerned with control and limiting the choices of others.

which of the following statements best describes a highly leveraged firm?

a firm that relies heavily on equity

--- is an agreement between two or more firms to jointly pursue a specific opportunity without actually merging their business

a strategic alliance

diversity drives business growth by

attracting different customers and markets

which of the following defines job posting A) it is a planned sequence of jobs through which employees may advance within an organization B) it is a procedure for advertising job openings within a company to existing employees C) it is a written description of the basic tasks, duties, and responsibilities required of an employee holding a particular job D) it is a purposeful, systematic process for collecting information on the important work related aspects of a job.

b

a ---- can help a firm evaluate how much internal financing (funds generated by earnings) will be available for a planning period

budgeted income statement

in the context of the technological environment of a business which of the following statements is true of e commerce

business to business selling compromise the vast majority of total e commerce sales

in the context of factors of production, the synthetic resources that a business needs to produce goods or services are referred to as.

capital

the economic system of the united states is called

capitalism

a ---- is the most common depository institution.

commercial bank

which of the following is a reason for downsizing

cost cutting

safe Transact is an internet based company that specializes in the secure electronic transfer of funds between businesses and clients it uses some internet tools to insure the security of the online transactions in the scenario safe transaction is an

cybermediary

in the country of Trevanvia, goes through a period of recession which leaves a large number of people unemployed due to extensive layoffs by companies the companies use the strategies of job termination to cut down their cost and reduce their out puts as the people are now more cautious with their spending in the given scenario the layoffs that take place exemplify

cyclical unemployment

an----- is a mental or physical impairment that substantially limits one or more major life activities

disability

----- is a distribution of profits paid out to stockholders by a corporation

dividend

an ---- is a structure for allocating limited resources

economic system

When properly implemented, intranets enhance communication and collaboration among:

employees

Russia and China are both rich in natural resources and human resources, and both countries have a solid level of capital. Yet, neither country is wealthy. the missing ingredient seems to be.

entrepreneurship

in the context of the fundamental principles of a free market system, the ---- is associated with the point at which the quantity demanded of a product equals the quantity supplied

equilibrium price

which of the following is a purpose of performance appraisal

evaluating human resource programs

in the context of global trade, the --- is a measurement of the value of one's nation currency relative to the currency of other nations

exchange rate

in a business cycle the,---- is a period of robust economic growth and high employment

expansion

--- refers to selling products in foreign nations that have been produced or grown domestically

exports

when congress agreed to raise the debt ceiling during the economic meltdown in the United States in 2011, it mporarily averted a shutdown crises, but the deal they reached to do so created the.

fiscal cliff

which of the following strategies for research global markets is a specialized type of licensing

foreign franchising

--- is the authority granted by a domestic firm to an overseas firm for the rights to produce the market its product or to use its trademark/patent rights in a defined geographical area

foreign licensing

---- refers to the unrestricted movement of goods and services across international borders

free trade

microeconomics focuses on

individual business

in the context of the history of American business, which of the following occurred during the entrepreneurship era?

industrial titans created enormous wealth that raised the overall standard of living across the country

the U.S government uses the consumer price index (CPI) and the producer price index (PPI) to evaluate

inflation

in the context of balance sheets, patents, trademarks, and copyrights are examples of

intangible assets

the basic mission of the ---- is to promote global economic cooperation and stable growth

international monetary fund

in the context of strategies for researching global markets which of the following is a key risk of foreign outsourcing

involvement of social responsibility

which of the following is an advantage of structured interview?

it facilitates comparison between applicants since all applicants are asked the same questions

which of the following is true of supportive leadership?

it involves being approachable and friendly to employees and treating them as equals

which of the following statements is true of directive leadership

it involves letting employees know precisely what is expected of them

in the context of environmental contingencies, which of the following describes the formal authority system?

it is an organization's set of procedures, rules and policies

which of the following is true of developmental feedback

it is designed to improve future performance

which of the following statements is true of profit in a business

it is the financial reward that comes from starting and running a business

which of the following is an advantage off internal recruiting

it reduces recruitment start up time and cost

which of the following statements is true of the occupational safety and health act (OSHA)

it requires that employers provide employees with a workplace that is free from recognized hazards that are causing or are likely to cause death or serious physical harm

which of the following describes positive reinforcement?

it strengthens behavior by following behaviors with desirable consequences

timothy bought the franchise right from Breadfim, a popular fast food dinner chain he plans to hire the required staff and start operations of the outlet in a month to do so he first has to examine the types of jobs in the company and the responsibilities associated with each job type in the context of human resource (HR) planning which of the following should timothy do first

job analysis

in the context of factors of production, which of the following is a natural resource

land

which of the following best describes path goal theory

leader behavior must be a source of immediate or future satisfaction for followers

the great person theory holds that

leaders are born, not made

which of the following describes Fiedler's contingency theory

leaders must be placed in or matched to a situation that fits their leadership style

--- are ratios that measure the extent to which a firm relies on debt financing in its capital structure

leverage ratios

when a business brings in less money than it needs to cover expenses, it incurs a

loss

Janice is an accountant in a public relations firm she prepares financial reports upon request by the management of the firm and does not stick to a predetermined schedule the reports that she prepares mainly help the internal stakeholders of the firm give this information it can be said that Janice performs

managerial/private accounting

in the context of the history of American business, during the---- business began to develop distinctive identities to help customers understand the differences among various products

marketing era

---- refers to federal reserve decisions that shape the economy by influencing interest rates and the supply of cash

monetary policy

---- is a market structure with just a single producer completely dominating the industry

monopoly

according to McClelland,---

needs are learned, not innate

a --- is a sequence of activities that must be completed in a particular order for the overall project to be completed

path

Ruby, a radio station manager gives high ratings and good pay hikes to the employees who work under her because she wants to be the most popular supervisor in the company in the context of performance appraisals which of the following does the scenario best illustrate

positive leniency

an------ is a type of stock that gives its holder priority over common stockholders in terms of dividends and claims on assets.

preferred stock

in which of the following ways can companies ensure that people with disabilities have the same opportunities as everyone else

providing reasonable workplace accommodations for disabled employees

in the context of an independent auditors report if the auditors some minor concerns but believes that on balance the firms statement remain a fair and accurate representation of the companies financial position, the report will offer an ---- opinion

qualified opinion

in the context of international trade restrictions,---- are limitations on the amount of specific products that may be imported from certain countries during a given time period

quotas

in the--- leading edge firms look beyond each immediate transaction with a customer and aim to build long term ties

relationship era

the term--- refers to the quantity of products that producers are willing to offer for sale at different market prices

supply

Sharon runs a boutique she gets the raw material from a cloth mill owner who provides her various fabrics at discounted rates she installs a system that automatically analyzes her inventory and coordinates with the cloth mill owner whenever the inventory seems low in this scenario Sharon displays good business sense and has an efficient

supply chain

in the context of the history of American businesses, which of the following statements is true of the production era?

the assembly line became standard across major manufacturing industries

leading-edge companies have focused on consumer satisfaction. with a goal to develop long term mutually beneficial relationships with customers, which of the following dimensions of a business environment does this illustrate

the competitive environment

macroeconomics involves the study of

the gross domestic product of a country.

in the context of recruiting which of the following kinds of information'

the knowledge, skills and abilities needed to perform work

in the context of monetary policy, ---- is a rule set by the Fed, which specifies the minimum amount of funds a bank must hold, expressed as a percentage of a banks deposits

the reserve retirement

which of the following dimensions of a business environment embodies the values, attitudes, customers and beliefs shared by groups of people

the social environment

which of the following is true of transformational leaders

they are able to make their followers feel that they are a vital part of their organization

which of the following is true of employees reaction to underreward

they are frustrated or angered

which of the following is a characteristic of charismatic leaders.

they articulate a clear vision for the future that is based on strongly held values or morals

which of the following steps should companies take to reduce age discrimination

they need to monitor the extent to which older workers receive training

which of the following is a characteristic of entrepreneurs

they risk their time, money, and other resources to start and manage their businesses

in the context of factors of production which of the following statements is true of entrepreneurs?

they thrive in an environment that supports economic freedom

when the total value of a nation's exports is higher than the total value of its import, that country has an

trade surplus

the controversial 700 billion economic bailout plan passed by congress in early October 2008 was called the---

troubled asset relief program

in the context of monetary policy which of the following statements is true of the discount rate

when the cost of acquiring funds from the fed is low, interest rates on bank loans tend to fail

in business to business (B2B) e commerce,----

wholesalers to retailers is an example

which of the following is a significant factor behind the lack of women at top levels of management

women face sex discrimination

job specifications are

written summaries of the qualifications needed to successfully perform a particular job.