business final
50. Which of the following people would be most interested in participating in a business organized as a cooperative?
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56
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A secured loan.
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An owner.
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Cumulative preferred stock in NJP.
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D. S-Corporation
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D. analyze the market before making the service available.
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Rob intends to major in accounting because he is confident that an ability to read and interpret financial and accounting data is the way to get to the top in business. Rob seems to be concerned with developing his:
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B. compliance-based ethics
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current assets on the balance sheet.
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Many of the toy products sold in the United States are imported from Taiwan because the Taiwanese can produce these products more efficiently than U.S. companies. This is an example of:
Comparative advantage.
C. Workers should simply follow well-defined procedures.
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C. modular layout.
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N company's _______ relies heavily on ads, personal selling, and product sampling.
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flextime. One group of workers who would probably benefit from flextime is:
Single-parent families.
A major concern voiced by U.S. critics of the North American Free Trade Agreement ~ (NAFTA) is that it would result in:
loss of jobs in the U.S. economy.
B. the emergence of affordable technology will make it less challenging for her to compete with larger firms offering the same service.
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Budget for her business.
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Buying and selling goods and services.
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C. empower her employees to develop their own ideas. ·
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C.horizontal merger; vertical merger
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Currency Exchange.
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PP&L recently issued bonds that offer no collateral except the reputation of the company. These are
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Pension funds invested in risky investments.
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Retained earnings are an important source of equity funds for the company. Reinvestment of earnings helps to lower the overall costs of capital.
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Seconds.
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B. should speak with the current owner and determine the total value of assets (what the business owns), its earning potential, and its unique advantage.
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C. An area where the firm can contribute to the green effort, as well as cut costs.
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C. Diversification.
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C. Micropreneur
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While adding structure to his graphic design business, including the allocation of resources for getting the job done, Jack knew that he would need to initially allocate a considerable amount of funds for the sales team to have face to face meetings with other businesses who needed website design and promotional materials, Since overall funds were limited, he worried about his employees using these funds for the stated purpose and in a manner that he would use them. As his business advisor, you explain:
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Wild·Bill's Cap Emporium offers to produce hats and caps according to customers' requests. WildBill's utilizes a(n):
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Word of Mouth.
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cooperation and integration.
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its gross profit could equal its net revenue.
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more important to serve each student well, even if it means suggesting courses and/or degrees offered at other institutions. This approach is consistent with:
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post the information to the ledger.
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will help him reach vendors abroad, without the expense of traveling to meet them face-to-face.
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59. Bing came to the U.S. ona swimming scholarship. After a few months of frustration with trying to find swim goggles like he used in his native country, he started a web site that offere specialty goggles for swimming, skiing, and snowboarding. Before launching the web site and filling orders, Bing spent a few months going to swim meets and gathering preferences about goggles from other swimmers. Bing's actions:
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60. As a small business owner, Tanika can't afford to provide her employees with the high wages and benefits offered by big corporations. One way to retain her employees and create a high level of motivation would be to:
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60. Jake wants to sell his workout DVDs in European, Asian, and Latin American countries. ___________
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62. Antoine is considering marketing his bicycles in Brazil. If he enters the Brazilian market, he is likely to learn that _____________.
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63. How are managers today different from managers in the past?
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66. Amanda, a regional manager for Flairol Cosmetics, has just seen a report showing that sales in her region are trending lower than anticipated for the third quarter. Her next task is to determine the reason for the disappointing results and find a way to get sales up to their desired level. Amanda's efforts are part of the function of management.
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8 bakeries each tried to sell products directly to 7 supermarkets. The total number of exchange relationships would be:
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A PERT networkconsists of activities linked by arrows. Suppose two of the activities on the network are labeled "A" and "B". An arrow from "A" to "B" indicates that:
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A new company struggling because it has insufficient start-up funds.
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A realizes the importance of developing ____. She knows she must allocate resources to achieve firm goals.
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A uses a stock broker to buy stock. In buying or selling stock on a major exchange the process normally takes:
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A. Joe is intrigued by the idea of combining his time and resources with many other people to operate a business providing a good or service that they all will use.
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A. Operations management
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A. Overstating an expense report.
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A. Prepare the non-changeable marketing plan for the next three years, including marketing analysis and marketing strategy.
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A. Restaurants are relatively easy businesses to start, but are labor intensive and also have the greatest failure rate.
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A. Sole proprietorship.
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A. Technical skills.
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A. Vision
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AB Company's tough line toward suppliers has drawn fire. The company is losing suppliers who won't wait 120 days to get paid. The firm use to pay suppliers in 30 days. This is AB's:
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Accountant AW just prepared the company's financial statements. The next step in the accounting cycle is
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Accounting transactions are critical to a firms' operations. Which of the following activities would affect the firms' account balances?
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Alex is a production manager who believes his firm uses more of all types of resources than is necessary to produce its products. He would like to find a way to cut back on labor, and reduce the finn's investment in tools and space as well. It seems that Alex would like to adopt:
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An Investment Banker
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Analysis of the tax implications of various managerial decisions.
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As CFO, you identify that your firm needs to raise funds by selling new shares of stock. Who is a specialist that assists corporations in the issue and sale of new securities?
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As businesses strive for market expansion, companies add to their sales force, but opt to eliminate sales offices across the nation and intemationally. How are these firms able to remotely operate a sales force that contributes toward increasing the bottom line?
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As your good friend ponders putting some structure to his/her graphic design business idea, which of the following do you ng advise him/her to do?
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At Green Acres Fencing Company, eight employees each perform various aspects of the company's- work. One person does sales, four perform installation; one purchases materials; one does billing; one performs after-sales inspections. This type of organization reflects Fayol's principle of:
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At Lifeline Pharmaceuticals, highly regarded research personnel rely on top management to provide strategic direction. Beyond that, researchers work on their own to develop new drugs to satisfy customer needs and company profit objectives. Middle management at Lifeline practice _________.
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At Stevens Manufacturing workers are organized in teams that combine their efforts to produce complex units of a final product. Stevens is using a facility layout known as a(n):
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B faces the challenge of developing the promotion mix for a new business. The product is new and unique and the budge is small. Be should consider:
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B, a book store, has the following info: Current Liabilities = $60,000; Long Term Liabilities = $150,000; Owner's Equity = $200,000.
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B. Division of labor.
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B. Function.
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B. Insider trading.
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B. Mission statement.
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B. The marketplace is becoming global, which increases both competition and opportunities for
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B. core competencies
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B. flexible manufacturing.
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B. general partnership
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By purchasing stock in E, V has become _____of the company.
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By selling shares of ownership in their company, CS acquired needed funds through:
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C. A production manager for one of Discovery's main competitors
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C. Devise a set of clear performance standards.
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C. Gantt chart.
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C. Intermittent process
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C. Leading
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C. Operations management
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C. The key to keeping talented employees loyal to QuickDrive is to use a participative management style and treat them with respect, value their ideas, give them the resources they need, and expect great things from them.
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C. There should be discussion and well understood ways that the partners will handle disagreements.
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C. an assembly process.
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C. lean manufacturing.
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C. the formal organization.
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CCD does not mine coal itself. It doesn't even store or handle coal. C solicits orders for low sulfur coal from other firms, then purchases the required amount and direct ships. C is a
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Can buy shares from a broker on a U.S. Exchange.
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Chang is a project manager at Paradox Industries. He is able to borrow specialists from the organization on a regular basis to assist in major projects. After the project ends, the specialists return to their functional units to await new assignments. Paradox Industries
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Charging interest on past due customer accounts reflects that
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Closing the sale may involve getting the customer to agree to a trial close.
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Commercial Banks primarily serve two types of customers:
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D. "A" must be completed before "B" can begin.
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D. A share of the profits or a percentage share of revenues (net sales).
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D. Bureaucratic organization.
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D. CAD/CAM.
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D. Contingency planning.
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D. best practices for managing its impact on the environment.
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D. creating a corporate culture that emphasizes your values goes hand in hand with structuring your organization.
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D. demonstrated his need to better understand the market.
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D. matrix organization model
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DA uses its stock of unsold aluminum products as collateral for a loan. This is
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Debenture Bonds
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Depositors and Borrowers.
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Dewey Dare is a production and operations manager with a clothing manufacturer. He has been looking into a system that will enable his company to take measurements from a customer and program machines to design and produce custom-cut clothes at little additional cost. This type of system is an example of the benefits of:
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Drop Shipper.
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The Ritz-Carlton hotel offers restaurants with the finest service, elevators that run smoothly, and a front desk that processes people quickly. Many times fresh-cut flowers are in the lobbies and dishes of fruit are in each room _____ is responsible for implementing these customer benefits.
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The debt to equity ratio is 105%. 210/200=105%
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The finance manager at AC asked B to prepare the ______. B will use other budgets and other documents that summarize proposed financial activities.
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The prime minister of the nation of Urbania has called for Urbania's legislature to enact new
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Tracing the cause of the banking crisis of 2008-2009, which of the following is not in the news as having been a contributor to the crisis?
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Tracking customer purchases.
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Trade Credit policies.
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Transformation, Inc. builds machinery and robots that can assemble a variety of autos and trucks-including light pick-up trucks, two-seater sports cars, luxury sedans, full-size vans, and SUVs. Transformation sells products to companies that require:
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Two years ago, Travis started his own restaurant supply company, serving the greater Chicago area. Until recently, he has never concemed himself with establishing a formal control system. Now, with a recession looming, he is experiencing cost conscious restaurant owners. He has decided that a formal control system is needed. The first step Travis should take is:
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We Be Irish produces authentic Irish goods. They use TV and sales promotion to attract consumers to retail shops in search of its brand. We Be Irish uses a
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What's a major difference between internet banks and traditional banks?
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When Eric Schmidt became the CEO of Google, he reported that the company in the hands of founders Larry Page and Sergey Brinn was running well, it just needed a little structure. CEO Schmidt helped develop:
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When JPS prepared its financial statements it had several "90 Day Same as Cash" good credit customers. The amount these credit customers owe shows up as part of:
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Which of the following companies is under-capitalized?
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Which of the following is a bank service provided to help companies conduct business in other countries?
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Which of the following is required to build meaningful relationships with customers?
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Which of the following persons is most likely to be involved in strategic planning?
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Which of the following statements is the most accurate?
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Which of the following statements would best summarize Max Weber's views on the role of workers in an organization?
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Which of the following would be the least likely to serve on a cross-functional team for the Discovery Corporation?
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Which statement is most accurate about the impact of business on society?
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57. As a young boy, Drew remembers his grandfather telling him, "Son, if you can find something you like to do, and somebody is-willing to pay you to do it, well, that's the secret to a great life." The way Drew saw it, this was his big break. For the past five years, he split his time between school and working for a local tree farm/nursery business. The owner recently announced he was ready to retire. As Drew began creating a business plan, he contemplated what the business might be worth. How much will he need to buy this business? For starters, Drew
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58. Justin's favorite part of Introduction to Business class was marketing. As he brainstorms about starting a car detailing business, he recalls that it is important to:
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64. Which of the following statements has resulted in changes in the role of management?
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A. characteristically self—nurturing.
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B.The coattail effect.
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Marla Staples is concerned with identity theft. One of the ways that she can protect her
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Nick is a recent finance graduate who has two passions: music and finance. Upon graduation, he was offered an opportunity to join a struggling rock band with a lot of potential, or a job at a large well-established financial services company. By joining the band, he will forgo which of the following?
Added benefits such as health insurance provided to employees of large corporations.
Which statement is most accurate about the impact of business on society?
Businesses can have a positive impact on both standard of living and quality of life.
Jill works as a flight attendant for an international airline. While in China, it is convenient for Jill to find look-a-likes in famous brands of watches, purses, clothing, and golf clubs. ln fact, she does her Christmas shopping there and even buys good quality items for auctioning at her son's preschool events back in the U.S. Jill's actions:
Demonstrate a continual problem with product piracy in China.
For many years, Congressman Ricardo Perez has called for more government regulation of business. "After all," the Congressman said recently, "businesspeople are out to make a profit, not to create jobs or serve their customers. The government must pass more laws to require businesses to take the interests of consumers and workers into account." From these comments, it is clear that Congressman Perez:
Does not accept the "invisible hand" idea brought forth by Adam Smith.
Noliva is a small and poor nation, but its current president has a genuine desire to create more wealth for Noliva citizens. The president has recieved many recommendations from his advisors, which is most likely to create the most wealth for N?
Establish a business environment that promotes and rewards entrepreneurship.
information from leaking—out to the wrong hands is:
Install antivirus software, firewalls, and anti-spyware software on her computer.
Eve and 3 of her friends enjoy perfumes. Eve made scented candles as gifts for her friends. Her friends encouraged Eve to create more and sell them online. Eve has been filling orders and turning a profit, Eve is proof that:
When you successfully fill a market need, you can make money.
The nation of Redland reported that its imports for the previous year were $4 billion greater than its exports. During the same period, Redland reported a favorable balance of payments. This information suggests:
money inflows from tourism, foreign aid, foreign investment and other sources more than offset Redland's trade deficit.
Workers in the nation of Argenia prefer managers that forcefully tell employees what to do and how to do it. Conversely, employees in the U.S. prefer to participate in decision making in the workplace. This difference between Argenia workers and U.S. workers represents a management challenge for firms trading in the global market.
sociocultural
B. Lose their investment but nothing else.
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B. Social responsibility differences between similar firms, but in different countries.
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42. Kristen and her brothers and sisters decided to form a partnership that specializes in home design of all types. One of their goals is to maintain the loving relationship they currently enjoy so they are following the Model Business Corporation Act recommendations as they write the partnership agreement. Which of the following is an accurate recommendation of the Act?
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B. Take courses related to small business management and look for a job with a successful businessperson, preferably in your field of interest.
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A. claimed that the retailers were breaking the law.
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legislation designed to shift his country away from socialism toward a more capitalistic system. The Prime Minister acknowledges that such a radical change will entail some hardships, and that some citizens will be unhappy with the changes. The most likely source of dissatisfaction with a move toward capitalism is:
A trend toward unequal distribution of wealth.
Jenna Leigh is an information savvy, 20-something person who is trying to select between two marketing job offers. She can either join a company that makes small hammers and screwdrivers for the do-it-yourself hardware store business, or she can join a company developing the fourth generation cell phone service. She is quite impressed that the hardware business is growing quite nicely in China, Mexico, and India where people are starting to expand their living spaces. She is also aware of:
An information—based global revolution that might make her career at a telecommunications company more lucrative in the long run.
After a few years of being in business, employees who worked for a startup software company noticed that the owner overlooked certain questionable actions of high billing associates, versus other employees who worked hard but only brought in an average number of new clients each month. With respect to what you learned in this chapter about the ethical behavior of many Americans, which of the following statements applies here?
As is often the case today, some leaders will look at each situation individually when making value judgments.
Jorge Martinez is a well—educated entrepreneur who operated a small business in his home country of Florentina. At the encouragement of his American relatives, Jorge recently immigrated to the United States and applied for U.S. citizenship. "ln Florentina, tax rates were very high," Jorge complained. "The government used the taxes I paid to finance all sorts of social programs to help the less fortunate. While this is a noble goal, it has really undermined the profit incentive of individuals such as me. I really feel that these high taxes have stifled economic growth." Jorge's comments illustrate the reason many socialist countries are experiencing a(n):
Brain drain.
HipHop Music Company assigns workers to departments based on similar skills. Currently, the company has a marketing department, a production department, a finance department, and a human resources department. This suggests that HipHop departmentalizes by:
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ITG announced a 2 of 1 common stock split. Which occurs?
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In Beyond Our Borders (in the book) soft drink manufacturers, like Coca-cola, have found that:
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Independence Electronics prides itself as a world-class producer of components used in CD and DVD players. The outstanding performance of the production department indicates that this activity is one of the firm's:
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Intensive Distribution.
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Internet banks have lower overhead costs.
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J works in the accounting department at KSC. He records all transactions into journals. The next step after that is
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Jenna Raiter, the president and CEO of AutoMotion Auto Service Centers, has asked several managers and employees to help establish a statement to outline the fundamental purposes of their company. The result of this effort is likely to be a document known as a(n): ·
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John recently accepted a job in the marketing department with the Burbank Bagel Boys. After just a few days on the job, John learned that the company has many layers of management, and seems to have a rule to cover almost every situation. These conditions suggest that Burbank Bagel Boys is a(n):
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Last week John] got a call from his contact, Eric at Alpine Telecomm in Switzerland, one of his company's largest international customers. As Eric put it, "This is a headsup! Top management is asking operations to review our vendors for ISO 14000 compliance." John's company should prepare to demonstrate:
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MMC is a Service Firm. Since it does not hold an inventory or produce goods:
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Manager CS is concerned that her firm is doing a poor job of managing movement of finished product to consumer. If she is right the firm should improve
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Managerial provides info for managers inside the company. Financial accounting provides info for people outside the company.
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Manny is a production and operations manager who likes to keep track of how various projects are progressing. One of Manny's favorite tools is a bar graph that shows how much work has been completed on the projects that are currently underway andwhich processes are behind schedule. Manny likes to use a:
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Master budget.
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Money has a time value.
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Monica was hired by the Misty Mount Corporation to take over as the new chief executive officer. Her initial impression is that the company is in disarray, primarily because the employees do not have a sense of purpose or a common set of values. Monica's observations suggest that she needs to provide a(n) ______ for Misty Mount.
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Outbound Logistics.
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Possession Utility.
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Promotion Mix
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Publicity to help create a positive image for her firm and its products.
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Pull strategy.
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Quickly and easily accessed.
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RF does not pay dividends. It reinvests its earnings. Which statement reflects this?
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Reduce the reserve requirement.
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Registration in professor M's class reaches maximum enrollment quickly. One student summed it up, "She is the best teacher on campus". Professor M's classes benefit from
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St. Claire Hospital is considering a program that would allow some of its workers to use
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The purpose of the SEC's circuit breaker rule is to:
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To stimulate the economy during a recession the fed would:
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Towns shares of _______. His stock certificate states that any missed dividends will be paid prior to any future common stock dividend payments.
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Which of the following activities is most likely to be done by a financial manager?
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T is the publisher of a magazine that some large bookstores won't distribute. T is concerned because most magazines need
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Telemarketing.
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The CEO of peripheral company QuickDrive uses a leadership style that encourages employees to discuss management issues with the CEO and to work together to resolve those issues in a democratic manner. Which of the following statements would the CEO of QuickDrive most likely make?
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The M-1 definition of money supply only includes money that is:
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37. Before it was publicly known that IBM was going to take over Lotus Development, an IBM secretary told her husband, who told two co—workers, who told friends, relatives, business associates, and even a pizza delivery man. A total of 25 people received the information and traded on this tip to make a profit. These people were:
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Ricardo works as a department head at Bames Hospital. His job requires Ricardo to spend most of his time training and coaching employees to perform their jobs more effectively and teaching other managers to be better leaders. Ricardo's job requires him to make full use of his:
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S wants to purchase stock in a company headquartered in Germany. S:
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SC sales athletic wear via catalog. They have no retail stores, but offer a 24/7 1-800 order number. SC uses
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Sales promotions are targeted both internally and externally.
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She may immediately sell the bonds but it is unclear how much money they will sell for.
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E invests $5000 in 5 ABC Bonds that mature in 10 years. Unexpectedly the week after she takes a foreign job and needs cash. Which applies?
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Several years ago, the nation of Florentina had a government-owned telecommunication system that lagged far behind other nations. In several of its rural areas, there was only one phone for an entire village of people. Government taxes collected for the purpose of maintaining the telephone system were very meager, so the notion of expanding service was almost impossible. The government of Florentina decided to sell the phone company to a private firm. The private firm expanded rapidly. It reported that even poor consumers were willing to pay for a private phone line. This government decision and subsequent sale was:
A move toward capitalism.
Lance owns Lance Lawns Irrigation Systems, LLC, a company that installs and maintains underground lawn irrigation systems. Business is down due to new housing starts being negatively impacted by a deep recession. To make things worse, his bank called yesterday to inform him that his credit limit (interest fee of 12.5%) will be cut from $30,000 per year to $15,000 per year, unless he is willing to pay a higher interest rate of 20%. As Lance drives to the first job this morning, he knows that his last task of the day will be to reduce the hours for his two employees. He can't afford to work employees eight hours per day, with only a $15,000 line of credit. Which of the following strategies will help Lance's situation?
Fed decreases interest rates
Chase is a recent college graduate with a new job as an engineering trainee for a large defense company. Now that he is making good wages, he hopes to start saving for his first house and also contribute toward the company retirement plan. As he looks over his monthly bills, Chase is concerned about ever getting ahead of the game. His food bill, car payment, and mounting payments keep him in the "just making ends meet" category. As his mind wonders back to the good ol' college days, he reflects on a time when gas and food seemed a lot more reasonable. Chase is experiencing the effects of:
Inflation
Adam's Apple Corporation ships all of the apples from its orchards in Washington to a single buyer in Japan. The firms' entire profits are derived from this international transaction. Adam's Apple Corporation:
Is not a multinational corporation.
Adam Ripley sells custom bicycles. Adam buys several bike parts including wheels and tires from the Good Treads Company. Although several government—supported regulations help Adam in his business, regulations that make it easy for Adam's business to enjoy good vendor relationships are:
Laws that support enforceable contracts between firms.
Pepsi Cola entered into a long—term contract with a South African beverage company. The contract calls for the South African firm to produce and market Pepsi Cola in South Africa. Pepsi will receive royalties on each case of beverage sold. This is an example of:
Licensing
Patrick lives in a nation whose government embraces capitalism. He owns his own home and car, as well as his own business and building. Patrick maintains ownership due to:
The right to own private property.
The market price of apples is currently rising. In a free—market economy, the most likely explanation of this price change is that:
There is a shortage in the market for apples.
Laura and Tim McNash recently moved to North Carolina on a three-acre home site. They purposefully purchased their home within biking distance to the university where they are both employed, and their bikes each have room for two cloth bags for groceries if they need to purchase food on the way home, although they plan to grow much of their own. Laura and Tim are examples of a growing number of young people who:
Want to change their lifestyle to be more in tune to saving energy.
An American firm recently criticized a Chinese steel producer for charging a lower price for its steel in the United States than it charges in China. If proven to be true, the Chinese firm has engaged in:
dumping
A. Free—rein leadership
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Analyze Financial Statements.
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As Bret prepares to open his new business, he has identified the tasks that need to be accomplished and has assigned employees to each task. This illustrates a:
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B. take Harper's satisfaction into account, because customers can be internal as well as external.
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Cooltreet, Inc., combines sugar, cream, eggs, and flavorings, then chums and cools the resulting mixture to a very low temperature until it freezes, creating ice cream. The method Cooltreet uses is an example of:
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D. Groupthink
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D. Human relations skills.
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D. Managers today emphasize teamwork
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D. Successful big businesses often create profitable opportunities for small businesses.
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D. The operation is managed with teleconferencing information technology, and telecommuting.
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Distributing goods in global markets the same way as the U.S. is foolish and unproductive.
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During the past six years, the marketing department manager at Creative Concepts Intemational made a strong push to hire mover/shakerprofessionals that had superior performance records prior to joining this company. It didn't take long for these enthusiastic marketers to recognize the many talents within their department. They marveled at how much they were like each other and how they seemed to agree with each other's work styles and ideas. After a while, it became difficult for others in the organization to present to this group. If the idea did not originate within the marketing department, marketers did not give it much credence. Management counselors would describe this phenomenon as :
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Each day the general manager at the New Life Grocery Store reviews employee work schedules, including the late night stock crew, the checkers, the baggers, the deli, produce, and meat department crews, and the office personnel. He coordinates work schedules with shipments, as well as the information he collects from registers that indicates the busiest hours at the store, and then he communicates any exceptions to his department managers. These daily tasks are part of:
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Each share will be worth half of its previous value, but shareholder's total value of ITG will remain the same.
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Equity financing.
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Flavio, CEO of Fabulous Frozen Custard believes that alternate plans are almost as important as the primary operational plans because extemal circumstances such as the weather, competitor moves, and even economic conditions make it important to have a Plan B. Flavio endorses:
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G is about to make his first stock market investment. What is a cautious way? Index Funds
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HH&C offers customers who buy air conditioning and heaters free delivery and low install charges. The company also offers a free follow up inspection of the new equipment. This provides
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Halt trading for a short time following a dramatic drop in stock prices.
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Harper is a sales rep for an eyeglass company. The company is always on the cutting edge of trendy designs. In her job, she frequently relies on the marketing department to provide her with information and materials. When using customer satisfaction to judge the success of their company, Harper's managers should:
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65. As a manager, two of Sylvia's strengths are her ability to communicate goals clearly, and her ability to guide, coach, and motivate workers. Based on these strengths, _________ is a management function that Sylvia is likely to be good at performing.
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A basic difference between managerial accounting and financial accounting is
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A. A web site and other technological advances
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54. As a result of corporate downsizing, Alex lost his job as an information systems manager for a large telecommunications company. A bonafide computer geek in his own right, Alex knew that several of his past company contacts often outsourced their computer problems. He decided it was a good time to test the waters and see if he could secure enough computer clients to be in business for himself. His success demonstrated that:
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55. When Krystal Ginger graduates from culinary school she dreams of opening her own Asian fusion restaurant. Her other passion is skiing in Colorado, where she schedules four or five trips each year. As her small business advisor, you believe it necessary to provide her with information that will help her make good business decisions. Which of the following would be helpful for Krystal to know?
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A. An integrity-based ethics code.
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A. Chief executive officer
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A. Controlling
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56. Carrie, a student at Metropolitan Community College, dreams of starting her own business. In an effort to learn as much as she can about small business management, she talked to four friends who each offered their advice. Which of these suggestions is likely to help Carrie the most?
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A. Division of labor.
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34.Which of the following would most likely involve ethical concerns?
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35. In an effort to promote the importance of a valuable education, the faculty and staff at the local community college are trained to ask each student about their career preferences, rather than suggest courses that may not benefit the student's future goals. Although it would be tempting to suggest courses just to increase the College's enrollment, employees know that it is
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36. John was recently hired by Backstreet Books, an eclectic bookstore in a large college town. At the beginning of the first day on the job, his store manager handed him a small booklet consisting of company rules. He was asked to read it and sign and submit the last page, before starting work. Among other things, the rules explicitly discussed reprimands for grievous behavior and dismissal if the firm could prove that the employee was stealing product from the store. This booklet represented the of the store.
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38. Last year the Bank of Plenty, Inc. made an all out effort to go paperless. The bank's public relations arm promoted the strategy both internally and extemally. Customers were strongly encouraged to utilize the bank's online banking for all their banking needs. Customers could sign up for local workshops where employees were dedicated to showing them how to navigate the bank's new website and find the information they required. The bank's initiative demonstrates:
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39. J. D. started working for an export trading company right out of college. His job took him to Asia on several occasions, where he interacted with manufacturers and got to practice his limited Chinese. He was amazed to see the difference in working conditions in the developing nations where he visited, compared to similar operations in the U.S. The expectations of workers were not the same. J.D.'s experience is an example of:
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40. A few years ago, several U.S. retailers were sued in Los Angeles courts for human rights abuses associated with contract manufacturers located in the Marianas Islands, a territory of the U.S. government. The accusers wanted the retailers to stop outsourcing the manufacturing of soft goods to manufacturers on the islands that practiced inhumane labor standards. The activists who brought suit against the U.S. firms:
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41. Cali owns Dog Trotters, a dog walking business that she started to earn money after school and supplement her allowance. She planned to keep all the profits, and kept things simple, by putting a flier on the bulletin board at the local grocery store announcing that she was available to provide this service. Cali's business is a:
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43. Zach and Mac own an auto repair business which they operate as co-owners. Both take an active role in the management of the business, and each accepts unlimited liability. Zach and Mac operate as a:
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44. Dane is a stockholder in SmallWorld, Inc., a C-corporation that manufactures amusement park rides. The company recently lost a major court decision and will probably be forced into bankruptcy. In fact, the damages awarded are so great that, even if all company assets are sold and the proceeds are used to pay its debts, SmallWorld is likely to still owe money to its creditors. lf SmallWorld go bankrupt, Dane and the other stockholders will:
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45. A few years back, your three U.S. born friends that live in the State of Wyoming inherited a dude ranch that they plan to tum into a retirement haven for race horses. Peaceful Pastures wants to open its doors by spring, 2010. After attending several small business seminars, the three friends are certain they need limited liability. The high-risk, labor-intensive business will require a sizable investment including an air-conditioned van, several fenced-in pastures and loads of animal feed. You recently heard that one form of business ownership requires owners to pay self-employment taxes on the entire amount of earnings. You are fairly certain this is one tax loophole your friends would like to avoid. You recommend:
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46. Continental Foods is considering a conglomerate merger with a company that makes storage solutions. A likely reason is:
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47. Several years ago. Regis Corporation, a very large hair styling salon company purchased "Your Father's Mustache" salons. Although this was initially an acquisition, the merging of these two businesses was a(n) ______. Regis went on to purchase several hair care product companies. Joining forces with hair care product companies would represent a _______.
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48. Marco is a franchisee with Daggies, a chain of sandwich shops. His business was doing well until several Daggies franchisees got in trouble and were forced to close their shops. Soon afterward, Marco's business deteriorated and he too was forced to close. This is an example of:
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49. Jenna plans to invest in a cleaning service franchise called "Spare Time". At her first interview with the franchisor's selling agent, she leamed that the parent company expects royalties of 5%. These are:
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52. Anna recently left a large insurance firm and opened a home-based business preparing medical transcriptions for doctors. Based on recent statistics, she can expect:
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53. Pete inherited a thriving dry cleaning business from his father and mother. He continued the tradition of offering quality service to the customers he served. As the surrounding towns expanded, several people suggested that Pete expand the business to offer service in new locations. He chose to maintain only one operation, so as not to lose control and to keep his work life and home life balanced. Pete is a good example of a(n):
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5l. Erin developed a new type of exercise equipment she calls the Tush N' Tone. After unsuccessfully searching for potential investors, she arranged a personal loan and borrowed additional money from her parents. Her willingness to continue believing in her idea and remain enthusiastic shows that Erin is:
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John complained to his buddy, Frank that prices have increased a lot over the past year. Frank disagreed, saying that the prices of some goods have gone up a bit, but other prices have declined, noting that you can get some good buys on houses right now. Frank feels that the average price of consumer goods hasn't changed. Frank and John can refer to the to learn how government economists currently view the price situation.
CPI
Which of the following statements best describes how firms must treat their front-line workers in order to remain competitive? Front-line workers must be:
Empowered with the authority to respond quickly to the unmet needs of customers
When WorldCom used intentional accounting irregularities to make the company look more profitable than it actually was, it:
Engaged in illegal behavior.
A friend offers to share with you a term paper previously prepared for her Introduction to Business class last semester. When you tell her that it wouldn't be fair, she reminds you of your habit of reading an entire Harry Potter book at the local bookstore without paying for the book. Which ethics—based question would be most helpful in evaluating these situations?
Is it balanced?
Under a system of floating exchange rates, changes in the value of the U.S. dollar relative to other currencies are the result of:
changes in the supply of and/or demand for dollars in the global currency market.
Which of the following statements would a follower of Adam Smith be most likely to make?
lf people are given the freedom to follow their own interests, theoretically their efforts will lead to economic growth that benefits society as a whole.
Responding to pressure from political lobbyists representing the U.S. steel industry, the U.S. government levies a tax on steel products imported from Europe. This is an example of a(n):
protective tariff.