BUSI 1301 Final Exam
The financing function expedited purchases.
True
The goal of business activities is profit
True
joe met with all of his department heads to listen to their opinions about buying a new machine. although they all thought it was a good idea, joe did not buy the machine. joes' leadership style is
Democratic
The most popular use of the internet in the U.S.is the communication or e-mail
True
7-UP, cherry 7-up, and diet 7-up are products in Dr. pepper company's
7-UP product line.
If a company is eliminating certain models fo a product and cutting back on expenditures, the product is most liely in which life cycle stage?
Decline
The largest expected growth in internet use through 2005 is in
Asian-speaking countries.
diet caffeine free coca cola is a
Brand name
which stockholders usually have the right to vote and control the board of directors?
Common
which of the following is the most popular use of the internet in the united states
why do small businesses have a high failure rate?
Failure of money management, competition, poor business plan
Businesses have the right to keep and use their profits as they choose, without limitations.
False
Conflicts of interest are payments, gifts, or special favors intended to influence the outcome of a decision.
False
Differences in spoken language and body language have no impact on international business.
False
Nonprofit organization such as habitat for humanity do not engage in management, marketing, or finance activities.
False
Political considerations change slowly, while laws change rapidly.
False
Products have tangible attributes only
False
Profit is what it cost to make and sell a product
False
The best way to judge the ethics of a decision is to look at it from a manage's or employee's point of view.
False
a job description is a written description of the qualifications necessary for a specific job.
False
analytical skills involve the ability to think creatively.
False
cost of goods sold is calculated by subtracting the ending inventory from the beginning inventory.
False
job analysis is a systematic procedure to determine the relative worth of various jobs
False
job enrichment plays a role in the motivational program at eagle pharmaceutical.
False
managing the quantity and quality of empoyees is not an importan managerial function.
False
marketier usually view buying as a persuasive activity that is accomplished through promotion
False
net income is the profit (loss) after all expenses excluding taces have been deducted from revenue.
False
spending money to hire a sales force or to conduct marketing research does not involve risks.
False
the line and staff structure divide general managing duties into functional areas, each with a separate supervisor.
False
transporting includes warehousing goods.
False
which of the following is best used when employees know the standards and are highly motivated to attain them?
Free rein leadership
a product that is packaged in a plain white cover with out a specific company name to attract the customer is referred to as a
Generic brand
a product's profits grow and then peak during which of the following life cycle stages?
Growth
automobiles are in which stage of the product life cycle?
Maturity
When a company decides to do business outside its own country, it must research several factors, including potentail barriers to international trade. which of the followin is not a potential barrier cited in your text?
Scientific
To train employees, anser questions, and provide guidance in doing a task, managers need
Technical expertise.
eagle's management philosophy is most closely associated with
Theory Y
is a philosophy that uniform commitment to quality in all areas of an organization will promote a culture that meets customers' perceptions of quality.
Total quality management
A common reason for esablishing quotas or tariffs is to prohibit dumping.
True
A marketer must understand buyers' needs and desires to determine what products to make avaliable.
True
An ethical issue is an idnetfiable problem, situation, or opportunity that requires a person or organization to choose from among several actions that may be evaluated as ethical or unethical.
True
Ethics is related to the culture in which a business operates.
True
Franchisees pay the franchiser a monthly or annual fee based on a percentage of sales or profits.
True
Protective tariffs raise the price of foreign goods to allow competition with more expensive domestic goods.
True
The Webb - pomerence export trade act allows selected american firms desiring international trade to form monopolies to compete with foreign cartels.
True
The size of the transaction, the history or personal relationships within the particular company, and many other factors may determine whether a customer gift will be judged as ethical.
True
a key element of business success is a business plan.
True
income statments show revenue, expenses, and iincome over a peroid of time.
True
matrix structures are usually quite expensive.
True
the planning function of human resources management includes determining the status of current personnel when planning human resource needs for the futrue.
True
to start any business, large or small, you must first have an idea.
True
work by management theorists such as herzberg has helped managers to better understand human relations.
True
The law that allows selected American firms desiring international trade to form monopolies to compete with foreign cartels is the
Webb-Pomerence export trade act
The collection of interconnected websites or "pages" of text, graphics, audio, and video with on the internet is known a the
World Wide Web.
In the united states, if a business person brought an elaborately wrapped gift to a prospective client on their first meeting, it might be viewed as
a bribe
an advantage of line structure in organizations is
a clear chain of command
when the founder of a massachusetts waste disposal firm spent 16 million on a hazardous waste incinerator project, believing that the project would benefit the envirorment and the community, despite local residents' ovjections, he may have had
a poor business concept
The goal of business is to earn
a profit
what most consumers want is not a product, but
a way to get a job done, solve a problem, or gaiin some enjoyment.
the inspection of purchased items and finished items ocurs
after the fact.
How is eagle pharmaceutical motivating its sales force?
an extensive positive behavior modification system that involves rewarding and recognizing top performers for their work
the planning of human resources includes all of the following exept
appraising performance.
The united states, great britain, and japan
are industrialized nations
private distributor brands
are owned and controlled by a wholesaler or retailer
the exchange process is
at the heart of all business
when karen uses authority and exonomic rewards as incentives to motivate workers, her leadership style is
autocratic
bob has been put in charge of a group of new employees. he has told them they must use the table saw exactly as he says with no exceptions, bob is using
autocratic leadership
The motivation technique emphasized by eagle pharmaceutical could best be described as
behavior modification
if a company wishes to keep a competitor from using an attractive feature of its product , such as a unique logo, it should register that feature as an official
brand mark
Which of the following is not a product?
business proft
according to the text, all of the followings are skills needed by managers except
clerical.
the accounting cycle includes which of the following?
collecting data recording data analyzing data posing transactions
in creating a corporation, once the articles of incorporation are filed with the appropriate state office, the state may then issue a
corporate charter
determining quality depends on
customers' perceptions
which of the following is not considered one of the main uses of the internet?
delivery
If the united states wanted to redue the cost of its goods in foreign markets, itt could
devalue its currency
corporations distribute profits to their owners in the form of
dividends
When a country devalues its currency, this encourages the sale of its
domestic goods to foreign countries.
they system of recording and classifying business transactions in separate accounts in order to maintain the balance of the accounting equation is called
double entry book keeping
the first step in quality control for any organization is
establishing standards.
Which of the following statements is false?
ethical issues are limited to for-profit organizations
all of the follwoing would likely be found in a company's articles of incorporation except
expected profitability of the corporation
A network of computers that permits selected companies to access the same information and may allow managers in various organizations to collaborate and communicate about the information is an
extranet.
a franchisee is a company that sells a franchise.
false
matrix structures are always permanent.
false
only business organizations have revenue to report.
false
the most important source of funds for any new business is the employees.
false
among the marketing functions are
financing, researching, buying, and selling.
an exchange is
giving up something in return for something else
initially, the factor that probaly affects a company's reputation more than anything else is poorly managed
growth
it is desirable to test only a sample of the product when
inspection procedures are expensive elaborate testing equipment is required testing takes a significant number of hours to complete the product is destroyed by sampling
the process which allows users to carry on one or more real-time conversations simultaneously is known as
instant messaging.
if a product is experiencing negative profits and the conpany is spending a great deal of money on advertising to make consumers aware of the product, the product is most likely in the following life cycle stage:
introduction.
What is business ethics?
is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment
a private corporation is one that
is owned by only a few people and not traded on the open market
which of the following is a concern of today's employee?
leisure activities the amount of money a job offers job satisfaction personal performance
Which of the following organizational forms allows managers to specialize in the area for which they are reponsible?
line and staff structure
an organizational form that is based on direct lines of authority from the top executive to the lowest level of employees is called
line structure
packaging is used to do all of the following except
list the products ingredients
The best way to judge the ethics of a decision is to
look at the situation forms a customer's or competitor's viewpoint.
today's dynamic business environment fostered which of the following organizational forms?
matrix structure
define double entry bookkeeping and explain how to use it, keeping the accounting equation in balance.
means that every business transaction will involve two accounts (or more). ... Double entry also allows for the accounting equation (assets = liabilities + owner's equity) to always be in balance
the number of votes common stockholders are normally entitled to have for each share of stock is
one
multidivisonal structures
organize departments into a larger division, often based on geography, product, and/ or customer.
How many businesses are running some type of intranet?
over half
in some companies, the deparment that handles the human resources management fuction is still called by this name
personnel
a human resources manager deciding how many positions an organization will neeed is engaging in which of the following activites?
planning
after gathering together and analyzing source documents and recording each financial transaction in a journal, a finacial manager, bookkeeper, or accountant next
posts transactions in a ledger.
the right of common stockholders to have the opportutnity to purchase new shares of stock is called
preemptive right
Businesses differ from nonprofit organizations in that a business's focus is on
profit
a written authorization assigning a stockholder's voting privilege to another is a
proxy
the processes an organization uses to maintain its established quality standards are called
quality control
the type of corporation represented by organizations such as the national aeronautics and space administration and the U.S postal service is called
quasi-public
If a business is to be successful in the long run, it must treat its customers, employees, and community with social
responsibility
an accounting term that is synonymous with revenue is
sales
determining how many items are to be inspected is called
sampling
When purchasing a product, the consumer is actually buying its anticipated benefits and
satisfaction
all of the followings are activities performed by human resources manager except
selling
another often used name for a stock holder is
shareholder
they system in which management collects and analyzes information abou the production process to pinpoint quality problems in the production system is called
statistical process control
a disadvantage of line structure is
that managers must possess a wide range of knowledge and skills.
What is marketing?
the action or business of promoting and selling products or services, including market research and advertising.
The internet is
the global information system that links many computer networks together
The global information system that links many computer networks together is known as
the internet
what is quality control
the processes an organization uses to maintain its established quality standards are called
having conceptual skills often means being able to
think creatively
having analytical skills means that a manager is able to do all of the following exept
think in abstract terms
Expenses can be incurred daily.
true
according to the text, mcking corporation is facing a dilemma most closely associated with operations management.
true
staff amangers do not have direct authority over line mangers.
true
the lack of funds to operate a business normally is called
undercapitalization
The shortest path to failure in a small business is
undrecapitalization
Which of the following has been cited ass incidents fo unethical business activity recently?
unfair competitive practices in the computer industry Deceptive advertising of food and diet products accounting fraud Improper use of the internet
having good human relations skills means that a manger is able to
work with others.
