BADM final
The number of companies listed in the Dow Jones Industrial Average is _______. (number)
30
The per capita GDP of South Korea (capitalism) is more than ten times the per capita GDP of North Korea (socialist/communist). Select one: True False
True
For about the last week the DJIA has been trading in the ____range. Select one: a. $26,000 b. $72,000 range c. $7,000 range d. $14,000 range e. $31,000 range
$26,000
Food companies do not want their customers to be confused by vague or misleading labels on their products, so they are voluntarily settling the issue by streamlining the labels to just _______ (number) phrases--hoping that everyone can understand.
2
The proportion of females on the Russell 300 Index companies has recently risen to _______ (number) percent.
20
Efforts are underway to to allow workers at small businesses to make contributions to _______ accounts through automatic payroll withholding, and their employers can match some or all of those contributions. The investment earnings in the plans are not taxed until the employee withdraws that money, typically after retirement.
401(k)
1 Asian 2 Black-African American 3 Hispanic 4 Other 5 WNH Which of the following sequences of numbers correctly arranges the U.S. population from most to least? Select one: a. 23415 b. 52314 c. 51234 d. 12345 e. 53214
53214
_______ (Use two whole numbers with one space between them.) China's latest quarter GDP growth rate U.S latest quarter GDP growth rate
6 3
Although states may establish their own minimum wage, it cannot be below the federal minimum wage which is $_______ per hour and earned by fewer than one percent of American workers.
7.25
In the first seven months of 2019, the average savings rate for Americans was _______ percent. (number)
8
The idea behind "defacto discrimination" is that: Select one: a. A company can discriminate without intending to discriminate. b. There must be intent to discriminate. c. The EEOC will not consider not consider all cases. d. Discrimination by immutable characteristics is allowed in some cases. e. Discrimination by race is more insidious than discrimination by other criteria.
A company can discriminate without intending to discriminate.
Tax Freedom Day is the day when the nation as a whole has earned enough money to pay its total tax bill for the year. This year, Tax Freedom Day was _______.
April 16
_______ (one hyphenated phrase) employment is a term used in U.S. labor law for contractual relationships in which an employee can be dismissed by an employer for almost any reason (that is, without having to establish "just cause" for termination), and likewise, the employee can quit for any reason.
At-will
Much clothing on Amazon comes from _______, among the world's largest clothing exporters.
Bangladesh
It appears customers are enthusiastically welcoming the plant-based burgers offered by the recent IPO company BYND. The company is _______.
Beyond Meat
The _______ (two words B and R) is a non-profit association whose members are chief executive officers of major U.S. companies. Unlike the U.S. The CEOs recently met and signed a 300-word letter pledging their commitment ESG.
Business Roundtable
What are the stock symbols for the following: Coke Uber Chase Bank One space between the symbols.
CO UBER JPM
The most populous country in the world is _______.
China
The U.S. until recently exported shiploads of garbage to XXXXX which now is going to XXXXX. _______ (two words)
China India
Name one of the BIG FOUR accounting firms.
Deloitte
A popular credit scoring system is FICO, which stands for _______ Company.
Fair Isaac
Approximately ten percent of American workers earn the federal minimum wage. Select one: True False
False
Companies are not double-listed. That is to say, a stock cannot be listed in DJIA and S & P 500. Select one: True False
False
Currently the personal savings rate for Americans is negative--that is, they are actually spending more than they earn. Select one: True False
False
The _______ (two words) Board of Governors enacts policies that influence our economy--especially by changing the interest rate up or down by a quarter point.
Federal Reserve
For financial statements of different companies to be comparable, the reports must be compiled by a common set of rules. Accounting rules are developed by the FASB. _______ (four words)
Financial Accounting Standards Board
Which statement captures the essence of the marketing function of business? Select one: a. Find a need or want and fill it. b. Do I have a deal for you! c. You cannot fool all the people all the time. d. There is a sucker born every minute. e. Form follows function.
Find a need or want and fill it
Which offers the highest standard of living for its citizens? Select one: a. India b. North Korea c. Hong Kong d. Mali e. Venezuela
Hong Kong
Which of the following is not a characteristic of VFINX? Select one: a. It attempts to mirror the Russell 2000 b. Minimum investment amounts are small. c. It's a minimum cost investment. d. It's an example of active (as opposed to passive) investing e. A person can own a stake in the entire market.
It's an example of active (as opposed to passive) investing
Which company appears to be facing the biggest threat to its existence? Select one: a. We b. Philip Morris c. Lyft d. Peloton e. Juul
Juul
Finish this BIG 4: _______MG
KP
"There is one and only one social responsibility of business-to use it resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud" This famous quote is by economist _______. (two words) Nike should stick to shoes
Milton Friedman
(Last name only) The person most responsible for the precipitous drop in the value of WeWork is Mr. _______, the company's founder.
Neumann
_______ has a high state income tax, and _______ has no state income tax. Rich people are moving from the former to the latter. Select one: a. California--Mississippi b. Texas--California c. New Jersey--Louisiana d. Connecticut--South Carolina e. New York--Florida
New York--Florida
If income equality is a number one aim of the economy, which accomplishes that the best for its citizens? Select one: a. North Korea b. South Korea c. United States d. Hong Kong e. Brazil
North Korea
_______ sales growth is done without merger or acquisition--generated internal by company efforts.
Organic
The SEC or _______ (four words) is often referred to as the Watchdog of Wall Street, but it wouldn't be too much of a stretch to think of it as the "Capital Markets Cop." It aims to protect investors and maintain fair, orderly and efficient markets, similar to a regular police force's primary goals of protecting the public and maintaining law and order.
Securities and Exchange Commission
S & P 500 _______ Name the S and the P. No punctuation. Leave off the &.
Standard Poors
_______ (one letter one number) is the commonly used measure of unemployment in the U.S.--currently very low.
U3
On the world stage, the strongest economy (size, growth, and stability) belongs to: Select one: a. China b. Japan c. Australia d. United Stateterm-12s e. Germany
United States
_______ is the systematic and comprehensive recording of financial transactions pertaining to a business and the process of summarizing, analyzing and reporting these transactions to oversight agencies, regulators and tax collection entities.
accounting
A(n) _______ (two words) is an individual (like Carl Icahn) or group that invests in a company and/or obtains seats on the board to effect a major change in the company. Do they pick on women-run companies more than men-run companies?
activist investor
An _______ is a professional who assesses and manages the risks of financial investments, insurance policies and other potentially risky ventures. This professional helps with pension plans and insurance rates.
actuary
Which of the following does not appear as a protected category of workers in the Civil Rights Act of 1964? Select one: a. race b. religion c. national origin d. age e. sex
age
The fundamental accounting equation is XXXXX = XXXXX + owners' equity. _______
assets liabilities
A(n) _______ committee is one of the major operating committees of a company's board of directors. This committee is in charge of overseeing financial reporting and disclosure. All U.S. publicly-traded companies must maintain a qualified committee of this type in order to be listed on a stock exchange. Committee members must be made up of independent outside directors, including a minimum of one person who qualifies as a financial expert.
audit
A(n) _______ is an accountant's (or accounting company's) overview of the financial statements and operations of the business in order to help confirm that the books are an accurate representation of the company's pterm-19erformance.
audit
CFO _______
chief financial officer
Exxon Mobil Corp. and New York's attorney general are headed for a showdown this week over accusations the company deceived investors, a rare trial over how the oil industry accounts for the impact of _______. (two words)
climate change
China is the world's largest crude importer and the world leader in electric vehicles, but it still gets much of its electric power from _______, the dirtiest source of electricity.
coal
Which of the following is not a synonym of capitalism? Select one: a. market economy b. free enterprise c. laissez faire d. private enterprise e. command and control
command and control
A(n) _______ (two words) is between the management of a public company, analysts, investors, and the media to discuss the company's financial results during a given reporting period, such as a quarter or a fiscal year. It is usually preceded by an earnings report. This contains summary information on financial performance for the period.
conference call
Governor Newsom of California could upend Uber's business model by promoting legislation that would change drivers' status from _______ workers to employees.
contract
In accounting terms a CAM or _______ is any matter communicated or required to be communicated to the audit committee and that both relates to material accounts or disclosures that are material to the financial statements and involves "especially challenging, subjective, or complex auditor judgment."
critical audit matter
Happily, we Americans have plenty of _______ income compared to most other nations. It's the money we spend after paying bills on non-essential, even silly items like Dr. Phelps' Lint Lizard (but wait, there's more).
discretionary
_______ (EPS) is calculated as a company's profit divided by the outstanding shares of its common stock. The resulting number serves as an indicator of a company's profitability.
earnings per share
_______ is the study of how to go about making decisions regarding the use of scarce resources.
economics
A(n) _______ is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. Such a person is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.
entrepreneur
The Wall Street Journal featured Walt Disney as the iconic example of the American _______ and contrasted him with shyster Bernie Madoff.
entrepreneur
Large Corporations boast that they are "on board" with ESG, which stands for _______ issues. (three words NO punctuation)
environment social governance
CEOs often earn very large salaries. This has caused a hue and cry from critics of big corporations. Their salaries are just too large! One reason the total pay for a CEO is so large is that part of the pay is in the form of an _______ award--which means that if the stock performs well, the CEO is paid more.
equity
A(n) _______ is a function of international trade whereby goods produced in one country are shipped to another country for future sale or trade. It is a crucial component of a country's economy, as the sale of suterm-11ch goods adds to the producing nation's gross output.
export
Public companies run by chief executives with _______ personality traits have a higher cost of equity capital--so says a recent WSJ article.
extrovert
Average CEO tenures have shortened to about _____ year(s). Select one: a. twenty b. one c. ten d. five e. fifteen
five
A _______, by definition, purchases the right to use an existing business's trademarks (like Tide) , associated brands, and other proprietary knowledge to market and sell the same brand, and uphold the same standards as the first business--thus becoming an owner and independent operator.
franchisee
A local Taco Bell "owner" is a _______ (f word), which means the person has acquired access to a corporate Taco Bell's proprietary knowledge, processes, and trademarks in order to allow the party to sell a product or provide a service under the business's name.
franchisee
A _______ (two words) agreement reduces barriers to imports and exports between countries by eliminating all or most tariffs, quotas, subsidies, and prohibitions.
free trade
Some unicorns (in the business sense) seem to be trying to make investors think the company is profitable when it is not. To go public, these companies MUST abide by GAAP or _______.
generally accepted accounting principles
According to WSJ which word most accurately describes current economic conditions in Latin America? Select one: a. optimism b. growth c. gloom d. enthusiasm e. recession
gloom
The issue at question in the case of Mr. Neumann of WeWork is corporate _______. It appears that his board is not doing a sufficient job of providing independent oversight in the months before a potential IPO.
governance
AT&T Chief Executive Randall Stephenson's leadership is being challenged by _______ fund Elliott Management. (aggressively managed portfolio of investments)
hedge
Apparently one of Jack Bogle's motivations in creating the XXXXX fund was his contention that an individual investor can't beat the XXXXX. _______ (total of two words)
index market
According to The Wall Street Journal, investors "jostle" for what they believe to be hot new stocks like Impossible Foods (plant-based meats) and WeWork (office space) even before their IPOs. What is IPO? _______. (three words)
initial public offering
A(n) _______ (two words), as opposed to an individual investor, is an organization that seeks to earn returns for its members. CALPERS (California Public Employees' Retirement System), for example, is a pension fund. Such organizations usually own large numbers of shares and hold significant sway over corporate decisions--at least more than small-time investors.
institutional investor
The companies in GM's supply chain that are most affected by the GM workers' strike are those that operate on a _______ (three words) inventory basis. These companies make their parts available on the assembly line right at the moment they are needed.
just-in-time
Part of a corporation's "ESG story" is charitable giving. The average of corporate charitable giving is _____ percent of after tax profits. Select one: a. just over five b. twenty c. 31 d. around ten e. less than 1
less than 1
According to a recent Wall Street Journal article, the current job market is particularly good for: Select one: a. earners in the top ten percent of income b. lower-income Americans c. wealthy retirees d. fast-food workers e. auto workers
lower-income Americans
The _______ function of a business includes planning, organizing, leading, and controlling.
management
The business function of _______ involves all the actions a company undertakes to draw in customers and maintain relationships with them. It includes advertising, selling, and delivering products to consumers or other businesses.
marketing
Traditionally, the purpose of a corporation has been to _______. (three words m o w)
maximize owner wealth
Kant's second formulation of the categorical imperative is: "Act in such a way that you treat humanity, whether in your own person or in the person of any other, never merely as a _______ (four words), but always at the same time as an end."
means to an end
A business can grow organically--more sales, more profit, more markets, more countries--or a business can grow by M & A. What is the M; what is the A? _______ (Use NO punctuation.) Our example in class was Newell Brands--which owns Coleman coolers, Ball glass jars, Elmer's Glue, Rubbermaid, Calphalon, Sharpie, Mr. Coffee, and others.term-15term-22
merger acquisition
Your _______ (two words), quite simply, is the dollar amount of your assets minus all your debts.The calculation is the same for businesses.
net worth
Kaizen is a Japanese business philosophy regarding the continuous improvement of processes in an organization. This is most closely related to which of the ten topics of study in BADM120? _______ (spell it out--no abbreviation)
operations management
Most cterm-5orporate shareholders do not attend the annual shareholders meeting, but they can read the _______ (one word) statement to help them make informed decisions about matters that will be brought up at the stockholder meeting. Our WSJ example was that some NIKE shareholders wanted to express their concerns about Nike's political spending.
proxy
A(n) _______ is an economics term that refers to a significant decline in general economic activity in a designated region for two consecutive quarters.
recession
Mali, NIgeria, Rwanda and other sub-Sarahan countries are experiencing poverty, disease and poor education. It is safe to say of our world that the rich are getting richer, and the poor are getting _______.
richer
China's _______ (two words) system is designed to monitor activities of its citizens and score them based on their adherence to Communist Party standards such as avoiding jaywalking or not making sure one's older-than-sixty parents have enough to eat.
social credit
Should stockholders worry that they are listed right along with vendors, society, customers, and other "stakeholders" when it comes to a corporation's priorities? One of our readings said a big NO to stockholders' worry.--not as long as senior leaders get paid for performance--and performance means _______ price.
stock
Rodney McMullen, CEO of Kroger, worked his way up through the ranks. He was a bagger, a checker, a produce manager, etc. Now as CEO he is trying to figure how best to compete with the likes of Walmart and Amazon (Whole Foods). The decisions made at the top level are part of the _______ process of a business. (one of our ten topics)
strategic management
_______ (two words S and M) refers to the decision making at the highest levels of the company and the most pivotal issues the corporation faces. One of our ten topics, CEOs and boards give careful consideration to SM. An example would be what Ford intends to do about threats by Tesla and others to its dominance in the pickup truck industry.
strategy management
Which of the following is an example of situations where OM tools and processes might be applicable? Select one: a. promoting alternate uses of a product b. studying the tricky situation of having a friend as your boss c. considering the effects of raising a product's price d. studying ways to speed up the action in sports events e. investigating the factors underlying job satisfaction
studying ways to speed up the action in sports events
A(n) _______ (one word) borrower is a person considered to have relatively high credit risk (low FICO score) and therefore will have a tougher time borrowing money at attractive interest rates than others with higher FICO scores.
subprime
According to the "Debt Clock", the U.S budget deficit has topped $1 _______ for the first time.
trillion
Approximately _____ of U.S. economic output (GDP) is accounted for by American consumer spending. Select one: a. 40% b. half c. two-thirds d. three-quarters e. 25%
two-thirds
Women are _____ the long-haul truck driving industry. Select one: a. sexually harassed in b. underrepresented in c. the worst drivers in d. flocking out of e. the leaders in
underrepresented in
In popular business parlance (speech), Peloton is a _______ (one word), meaning a privately held start-up valued at more than $1 billion .
unicorn
The first formulation of Kant's categorical imperative could be called the rule of _______ (one u word), because it recommends that ethical behavior includes asking "Would I be happy if everyone did this?"
universality
This week the Phelpses got mail inviting them to join Nextdoor--a neighborhood social media platform. The company has just received fresh investment from _______ (two words v and c) Mary Meeker.
venture capitalist
When it comes to financial practices and literacy, Select one: a. women have accumulated more student debt than men. b. men in the U.S have less understanding than women. c. outside the U.S. women are more likely than men to "take charge" of the family finances. d. after age 30, neither men nor women are likely to borrow from their parents. e. women in the U.S.have less understanding than men.
women in the U.S. have less understanding than men
