Intro to business Final part 2

Dividends are: a) the earnings of the corporation b) loans made to the shareholders c) payments to the shareholders from company earnings d) annual payments on bonds

c) payments to the shareholders from company earnings

Which of the following is NOT an example of a promotional goal? a) increasing the use of products b) delivering the product c) providing information d) creating awareness

b) delivering the product

Which of the following statements describes an advantage that personal selling has over other forms of promotion? a) The sales message can be varied according to the motivations and interests of each prospect. b) Personal selling can be directed only to qualified prospects. c) Personal selling costs can be adjusted by controlling the size of the sales force. d) All of the above statements describe how personal selling is superior to other forms of promotion.

All of the above statements describe how personal selling is superior to other forms of promotion.

The _____, created by the 1964 Civil Rights Act, investigates and resolves charges of discrimination. a) Equal Employment Opportunity Commission b) Fair Labor Standards Commission c) National Labor Relations Board d) Separate but Equal Opportunity Board

a) Equal Employment Opportunity Commission

_____ is something that prompts an individual to release his or her energy in a certain direction. a) Motivation b) Operations management c) Personnel management d) Human relations

a) Motivation

Carlos Monell overheard his manager say, "Work is as natural as play, and workers seek more job responsibility." This statement supports: a) Theory Y assumptions b) Theory X assumptions c) the Hawthorne effect d) Theory Z assumptions

a) Theory Y assumptions

Financial institutions can be divided into two broad categories. These are ______ institutions. a) currency and loan b) depository and nondepository c) credit and debt d) depository and fiduciary

b) depository and nondepository

_____ invest in new businesses in return for part of the ownership, sometimes as much as 60 percent. a) Multipreneurs b) Venture capitalists c) Business opportunists d) Intrapreneurs

b) Venture capitalists

_____ is the process of negotiating labor agreements between union members and management. a) Conciliation b) Aggregated participation c) Mediation d) Collective bargaining

d) Collective bargaining

Which of the following statements about utilitarianism is true? a) Utilitarianism holds that an action that affects the majority adversely is morally wrong. b) Utilitarianism is concerned with providing for the needs of the minorities. c) Utilitarianism is primarily concerned with the legal aspects of business decisions. d) The concept of utilitarianism supports affirmative action programs.

a) Utilitarianism holds that an action that affects the majority adversely is morally wrong.

_____ are distribution channel members that buy finished products from manufacturers and sell them to retailers. a) Wholesalers b) Market managers c) Product managers d) Service providers

a) Wholesalers

The Natural Era is the manufacturer and marketer of organic beauty aids. Its annual $50,000 donation to Sierra Club in support of the nonprofit organization's pledge to preserve the environment is an example of: a) corporate philanthropy b) corporate paternalism c) ethical responsibility d) financial empowerment

a) corporate philanthropy

The chain of manufacturer, agent, wholesaler, and retailer through which items like towels, sheets, and rugs flow is called a(n) ______ channel. a) distribution b) industrial c) promotional d) service

a) distribution

A ______ is a formal complaint, by an employee or by the union that management has violated some part of the contract. a) grievance b) formal mediation c) union arbitration d) official protest

a) grievance

Arial Brown recently was hired by Target to help recruit, select, and train new employees to work in its stores. Brown has a job in: a) human resource management b) line management c) functional production d) operations management

a) human resource management

Chewy candy manufacturers are coming out with more true-to-fruit flavors, with some companies even fortifying their confections with vitamin C to make them more fruit-like. From this information, you can surmise that the chewy candy industry is in the _____ stage of the product life cycle. a) maturity b) introduction c) growth d) decline

a) maturity

A gift shop would categorize which of the following as the BEST example of a current asset? a) money in the business bank account b) the building in which the store is located c) money paid for rent and utilities d) salary paid to student employees

a) money in the business bank account

In seeking a balance between the opportunity for profit and the potential for loss, a financial manager is dealing with the concept of _____ trade-off. a) risk-return b) sales-profit c) profit-budget d) potential profit

a) risk-return

James Dominguez will not buy stock in a company that sells bottled water because more than 1.5 million barrels of oil are used annually to make the plastic bottles used for water, and nearly 90 percent of these bottles are disposed of after one use. Dominguez is a strong believer in environmental protectionism, and this _____ is his way of expressing that belief. a) social investing b) ethical giving c) social paternalism d) corporate philanthropy

a) social investing

Abercrombie & Fitch stores are aimed at college-aged consumers. The parent company also operates retail clothing stores under the name Hollister, which are targeted to 14- to 18-year-olds and under the name Abercrombie, which sell children's wear. Abercrombie & Fitch operate: a) specialty stores b) factory outlets c) convenience stores d) hypermarts

a) specialty stores

For Porcelains R Us, the manufacturer of handcrafted porcelains, its employees, suppliers of the paints used to decorate its porcelains, retailers of its products, and people who benefit from its philanthropy are all: a) stakeholders b) agents c) investors d) shareholders

a) stakeholders

A(n) _____ is the financial statement that is used to assess the sources and uses of cash flow during the year. a) statement of cash flows b) balance sheet c) trial balance

a) statement of cash flows

The _____ is a specific group of consumers toward which a firm directs its marketing efforts. a) target market b) package market c) demand group d) utility group

a) target market

All the marketing personnel at a large technology company work 10 hour days Monday through Thursday and then get a three-day weekend. This technology company permits _____ for its accounting department. a) job sharing b) a compressed work week c) job rotation d) job enrichment

b) a compressed work week

The equity theory is concerned with: a) the worker's place in the decision making process b) how fairly a worker is treated compared to coworkers c) setting rewards based on individual employee desires d) the worker's concern with company ownership

b) how fairly a worker is treated compared to coworkers

Crafts R Us marked packages of yarn down to a quarter apiece to attract more customers into the store. This was below the store's cost. The packages of yarn were intended to be a _____ to increase store traffic: a) customer-targeted product b) loss leader c) bargain leader d) markdown

b) loss leader

The Bookish Bean is an independent coffeehouse/bookstore that went bankrupt only eight months after opening due to an unexpected demand for cash to fix a leaking roof. Better cash _____ might have allowed the business to continue operation. a) maintenance b) management c) capitalization d) targeting

b) management

According to the _____, a firm should first identify consumer needs and then produce the goods and services that will satisfy them. a) total exchange concept b) marketing concept c) customer satisfier d) sales concept

b) marketing concept

Woods Vineyards compares the actual performance of each employee with his or her expected performance. They probably use _____ to do this. a) value analyses b) performance appraisals c) job descriptions d) none of the above

b) performance appraisals

The Minnesota State Fair recently held an endurance competition in which consumers held on to a brand new Ford Mustang to see who can hold on to the car the longest to win it. An article in the local paper about the winner of the competition is an example of which promotional activity? a) advertising b) public relations c) personal selling d) media handling

b) public relations

Items that groups of people use as money must be _____ to be acceptable mediums of exchange. a) valuable, durable, compatible and scarce b) scarce, divisible, portable, and durable c) portable, sortable, profitable, and divisible d) distributable, durable, comparable and valuable

b) scarce, divisible, portable, and durable

A manufacturing company in which industrial engineers have maximized efficiency by determining the best way to perform every task from tightening a bolt to operating a forklift would be illustrative of: a) equity theory b) scientific management c) the Hawthorne effect d) Herzberg's motivator-hygiene theory

b) scientific management

Wade Scott bought an AZPX brand skateboard because all of the "other guys" were buying them. Scott was influenced by a(n) _____ factor. a) conceptual b) social c) demographic d) individual

b) social

The _____ is an independent, quasi-public corporation backed by the full faith and credit of the U.S. government that insures deposits in commercial banks and thrift institutions for up to a ceiling of $250,000 per account. a) Savings Association Insurance Fund (SAIF) b) Bank Insurance Fund (BIF) c) Federated Deposit Investment Corporation (FDIC) d) National Credit Union Share Insurance Fund

c) Federated Deposit Investment Corporation (FDIC)

At the base of the corporate social responsibility pyramid is: a) ethical responsibilities b) responsibilities to stakeholders c) economic responsibilities d) philanthropic responsibilities

c) economic responsibilities

A(n) _____ is a summary of what a company has earned and spent over a given period. a) annual stockholders' report b) balance sheet c) income statement d) trial balance

c) income statement

Another factor influencing business ethics is _____, or what is fair according to prevailing standards of society. a) utilitarianism b) validity c) justice d) righteousness

c) justice

Lenette Williams applied for a job at Promo Printing, which is unionized. She was told that she need not join the union and did not have to pay union dues if she did not want to. Promo Printing's labor contract supports a(n) _____ shop. a) agency b) closed c) open d) managed

c) open

Which one of the following is a commonly used method for market segmentation? a) benefit b) volume c) psychographic d) all of the above

c) psychographic

Federal Reserve banks must hold a certain portion of their deposits in reserve. This percentage is called the: a) interest rate average b) discount requirement c) reserve requirement d) prime monetary percentage

c) reserve requirement

According to Maslow, people need to feel secure, to be protected from physical harm, and to avoid the unexpected. These needs are called _____ needs. a) belonging b) self-actualization c) safety d) psychological

c) safety

According to _____, workers respond to attention from superiors, and they like their opinions to be valued. a) the equity theory b) maintenance factors c) the Hawthorne effect d) scientific management

c) the Hawthorne effect

Which of the following is an example of an unethical business activity? a) The employee uses the company computer to do online shopping for the holidays. b) The employee told several jokes that demeaned Polish people. c) The salesperson allowed the customer to believe that delivery would be within the next week when the salesperson knew that delivery was at least four weeks away. d) All of the above are examples of unethical business activities.

d) All of the above are examples of unethical business activities.

_____ deals with reporting to outsiders. _____ deals with the internal operations of the firm. a) Auditing; Managerial accounting b) Client accounting; Tax accounting c) Bookkeeping; Financial accounting d) Financial accounting; Managerial accounting

d) Financial accounting; Managerial accounting

_____ is the concern of businesses for the welfare of society as a whole. a) The marketing concept b) Consumerism c) Business morality d) Social responsibility

d) Social responsibility

Which of the following is a step in the new-product development process? a) develop new-product ideas b) screen ideas c) test the new product d) all of the above

d) all of the above

Which of the following calculations is a formal expression of the accounting equation? a) assets + liabilities = retained earnings b) assets + net income = liabilities c) assets + owners' equity = liabilities d) assets = liabilities + owners' equity

d) assets = liabilities + owners' equity

When Mars, Inc. decided to make Snickers available in convenience stores, supermarkets, and vending machines, it was involved with determining _____ strategy. a) pricing b) promotion c) possession d) distribution

d) distribution

Mariah Begay was walking through the mall and found a gym bag lying on the ground. The decision Begay must make as to whether to keep the gym bag and its contents for herself or turn it into the mall's lost and found department involves: a) consumerism b) the marketing concept c) social reciprocity d) ethics

d) ethics

Which of the following is a type of sales promotion that can be used if the organization's goal is to increase brand loyalty? a) event sponsorship b) advocacy advertising c) sweepstakes and contests d) frequent-buyer programs

d) frequent buyer program

A code of ethics: a) provides employees with the knowledge of what their firm expects in terms of their responsibilities and behavior toward fellow employees, customers, and suppliers b) is a summary statement of the firmâs goals, policies, and priorities c) can help employees behave in a more ethical manner d) is accurately described by all of the above

d) is accurately described by all of the above

Brett Ledford, a human resource manager, gathers information about various jobs within the company and specifies the skills and knowledge needed to do each job well. Ledford is responsible for: a) skill inventories maintenance b) task orientation c) job management d) job analyses

d) job analyses

Which of the following is NOT an example of a hygiene factor? a) fringe benefits b) salary c) working conditions d) recognition

d) recognition

Valeria Ramirez keeps track of day-to-day operational data to make sure her employer has enough cash to run the business and will determine if and when the company she works for should open a second distribution center. Ramirez is a(n) _____ manager. a) operations b) facilities c) analysis d) sales revenues

d) sales revenues

Pricila Martinez recently inherited $300,000. She has invested the inherited money in real estate and government securities. Martinez is using her money as a: a) commodity of exchange b) medium of exchange c) measure of wealth d) store of value

d) store of value