Samples For "BUS6600: Survey of Business Concepts"

BUS6600: Survey of Business Concepts

M8 - Quiz
Started: Mar 9 at 12:20pm

Question 1                           4 / 4 pts
The first step you would take to get control of your personal finances is to

•   prepare a budget. 
•   keep track of all your expenses. 
•   start a savings program. 
•   take inventory of your assets. 

 
Question 2                           4 / 4 pts
For a young person, one of the worst places to invest money for the long-term is in

•   a home. 
•   a duplex. 
•   a bank savings account. 
•   the stock market. 

 
Question 3                           4 / 4 pts
Investments in IRA accounts

•   are matched by the employer. 
•   are taxed at the lowest individual tax rate regardless of the actual tax bracket of the investor. 
•   can be in stocks, bonds, mutual funds, or even precious metals. 
•   are limited to money market funds and government bonds. 

 
Question 4                           4 / 4 pts
A comparison of variable life insurance to a standard whole life plan would reveal that

•   variable life offers only pure insurance but does so at a very low cost, while a standard whole life plan costs more but offers both insurance and a savings plan. 
•   they are essentially identical. 
•   variable life is only available to people who want at least $1 million in coverage—and are willing to pay for it. 
•   both a standard whole life and variable life insurance offer both life insurance and savings, but variable life invests the savings more aggressively than whole life. 

Question 5                           4 / 4 pts
Throughout history an investment in __________ has yielded an excellent return, regardless of the state of the economy or political changes.

•   antiques 
•   savings accounts 
•   a good education 
•   government bonds 

 
Question 6                           4 / 4 pts
According to contrarians, the big decline in the stock market during the Great Recession was

•   a great opportunity to invest in stocks. 
•   proof that the future of capitalism should rely more on small, unincorporated businesses rather than big corporations. 
•   a sign that more government regulation was needed to prevent big losses. 
•   proof that the stock market was not as sound an investment as most people thought. 

 
Question 7                           4 / 4 pts
One disadvantage of term life insurance is that

•   it is generally not available to young people. 
•   when renewed it usually is at a higher premium. 
•   it is pure insurance protection for a given time period. 
•   the risk of lost income from the death of the insured is shifted to the insurance company. 

 
Question 8                           4 / 4 pts
A contract that calls for regular payments to an individual for life or for a fixed period of time is called a(n)

•   level premium agreement. 
•   fixed dividend plan. 
•   annuity. 
•   mutual fund. 

 
Question 9                           4 / 4 pts
Mortgage interest payments and property taxes are

•   both likely to decline the longer you own the home. 
•   expenses that make home ownership less attractive than renting. 
•   tax deductible for homeowners. 
•   both likely to increase each year at a faster rate than your income. 

Question 10                           4 / 4 pts
A homeowner's insurance policy that includes a provision for __________ would provide the homeowner with enough cash to replace the items lost with new items.

•   cash in lieu of coverage 
•   full collateral damage protection 
•   guaranteed replacement cost 
•   actual book value protection 

 
Question 11                           4 / 4 pts
One disadvantage of having credit cards for personal use is that

•   they offer no protection if they are stolen. 
•   many companies have a policy that prevents employees from having both personal credit cards and credit cards for business use. 
•   they are less convenient than other forms of credit. 
•   they can make it easy to pile up a large amount of debt quickly. 

 
Question 12                           4 / 4 pts
For workers who qualify, the earnings from income invested in a traditional IRA are

•   taxed at the time they are earned, but at the lowest individual rate. 
•   never taxed. 
•   taxed both at the time the money is earned and at the time the earnings are withdrawn. 
•   not taxed until the funds are withdrawn. 

 
Question 13                           4 / 4 pts
Which organization provides an assessment of the relative level of risk of a particular firm's bond issue?

•   Standard & Poor's
•   E*trade 
•   Wall Street Journal 
•   Securities and Exchange Commission 

 
Question 14                           4 / 4 pts
Online trading services target those investors who

•   trade the securities of foreign firms. 
•   are interested in purchasing government bonds. 
•   are willing to do their own research. 
•   require the research and advice of a licensed stockbroker. 

Question 15                          4 / 4 pts
Which of these offers low risk, guaranteed income, and the backing by the full faith and credit of the federal government?

•   common stock in the U.S. postal service 
•   U.S. government bonds 
•   municipal bonds 
•   U.S. government preferred stocks 

 
Question 16                           4 / 4 pts
Corporations issuing __________ bonds pledge a tangible asset as collateral to reduce the risk incurred by a bondholder.

•   replacement 
•   secured 
•   escrow 
•   endorsement 

 
Question 17                           4 / 4 pts
Each share of common stock provides the investor with a __________ right that offers the investor the first right to purchase any new shares of common stock the firm decides to issue. This allows common stockholders to maintain a proportional share of ownership in the company.

•   preemptive 
•   participating 
•   convertible 
•   cumulative 

Question 18                           4 / 4 pts
A mutual fund company buys securities from corporations and governments and packages them together into a mutual fund. It then

•   deposits the mutual fund into a pension fund for institutional investors. 
•   charges investors a fee to find out how these investments fared, so that investors can decide for themselves as to whether they want to own the investments. 
•   gives investors the option to bid on a share of this investment. 
•   sells shares of this packaged investment to interested investors. 

 
Question 19                          4 / 4 pts
Buying stock on margin allows an investor to borrow funds from the brokerage company as part of the transaction. This __________ the potential return to the investor and __________ the risk.

•   decreases; increases 
•   increases; decreases 
•   decreases; decreases 
•   increases; increases 

 
Question 20                           4 / 4 pts
Issuing __________ increases a firm's debt and may adversely affect the financial community's perception of the firm.

•   common stock 
•   retained earnings 
•   preferred stock 
•   bonds 

 
Question 21                           4 / 4 pts
An organization whose members can buy and sell securities for companies and investors is known as a

•   stock exchange. 
•   transfer medium. 
•   public securities dealer. 
•   securities facilitator. 

 
Question 22                           4 / 4 pts
Firms establish a __________ so that sufficient funds are available to repay bondholders on the maturity date.
  sinking fund 
  retirement account 
  encumbered account 
  mutual fund 
 
Question 23                           4 / 4 pts
Of the five criteria for selecting an investment option, which one measures how quickly an investor has access to his/her invested funds, if they are needed?

•   liquidity 
•   yield 
•   tax consequences 
•   risk 

Question 24                           4 / 4 pts
Using information not available to the public to unfairly benefit in the stock market represents

•   an unethical, but a legal activity. 
•   insider trading. 
•   security fraud. 
•   blue-sky violations. 

 
Question 25                           4 / 4 pts
Diversification means

•   buying investments on margin. 
•   being knowledgeable about the various types of investment opportunities. 
•   allocating your investment funds to several types of investments. 
•   allocating all your investment funds into one type of investment. 

BUS6600: Survey of Business Concepts

M7 - Quiz
Started: Mar 1 at 11:40am

Question 1                                       4 / 4 pts
The value of resources the firm owns, minus the amount of money the firm owes to others equals

•   liquidity. 
•   liabilities. 
•   owners' equity.
•   leverage. 

 
Question 2                                       4 / 4 pts
__________ involves the review and evaluation of the records that are used to prepare the organization's financial statements.

•   Certified bookkeeping 
•   Financial accounting 
•   Managerial accounting 
•   Auditing 

 
Question 3                                       4 / 4 pts
The main reason an accountant would conduct a trial balance is to

•   ensure the audit was done correctly. 
•   verify the validity of last year's balance sheet before beginning the next accounting cycle.
•   determine whether account figures in the ledger are correct and balanced. 
•   obtain an estimate of the amount of taxes the firm owes. 

Question 4                                       4 / 4 pts
When creating the income statement, which of the following statements is accurate?

•   Revenues, minus Depreciation Expense = Gross Profit. 
•   Revenues, minus Cost of Goods Sold = Gross Profit. 
•   Revenues, minus General Operating Expenses = Gross Profit. 
•   Revenues, minus Tax Expense = Gross Profit. 

 
Question 5                                       4 / 4 pts
__________ is the systematic write-off of the value of a tangible asset over its useful life.

•   Gross margin allocation 
•   Depreciation 
•   Capital budgeting 
•   Liquidation 

 
Question 6                                       4 / 4 pts
To effectively run a business, it is necessary to

•   hire a full-time accountant. 
•   understand and use accounting information. 
•   use a public accounting firm. 
•   make certain that you do not spend too much time on your accounting system. 

 
Question 7                                       4 / 4 pts
__________ is the monetary value that is received for goods sold, services rendered, and money received from other sources.

•   Net income 
•   Gross margin 
•   Cost of goods sold 
•   Revenue 

 
Question 8                                       4 / 4 pts
An important difference between accounting and other business functions, such as marketing and management, is that
  accounting offers us insight into whether the business is financially sound. 
  accounting involves mainly clerical activities and thus requires very little analysis. 
  accounting deals exclusively with numbers. 
  accounting functions must be performed by an outsider, rather than by an employee of the business, in order to avoid conflicts of interest. 
 
Question 9                                       4 / 4 pts
Generally, a high __________ ratio could lead investors and creditors to view the company as being very risky.

•   diluted earnings per share 
•   inventory turnover 
•   debt to owners' equity
•   acid-test 

Question 10                                       4 / 4 pts
Retailers attempt to sell older merchandise before more recently acquired merchandise is sold. The assumptions made by the __________ method of inventory valuation are most consistent with this approach.

•   average costing 
•   LIFO (last-in, first-out) 
•   accelerated costing 
•   FIFO (first-in, first-out) 

Question 11                                       4 / 4 pts
Which financial statement reports the company's revenues and selling costs over a period of time?

•   income statement 
•   trial balance 
•   statement of cash flows 
•   balance sheet 

 
Question 12                                       4 / 4 pts
A __________ is a specialized accounting book, where transactions are categorized according to type. For example, all utility transactions are recorded in the same category.

•   journal 
•   ledger 
•   balance sheet 
•   trial balance 

 
Question 13                                       4 / 4 pts
Use the fundamental accounting equation to solve the following: Assets minus Liabilities equals

•   Cash Reserves. 
•   Gross Margin. 
•   Owners' Equity.
•   Net Income. 

Question 14                                       4 / 4 pts
Which organization would be most likely to acquire short-term funding by issuing commercial paper?

•   a small business that is unable to qualify for loans from commercial banks 
•   a company that prefers equity financing to obtain short-term funds 
•   a well-known, financially stable corporation 
•   a firm with a significant percentage of current assets held as accounts receivable 

Question 15                                       4 / 4 pts
A __________ forecast predicts the revenues, costs, and expenses a firm will incur for a period of one year or less.

•   short-term 
•   tactical 
•   near-horizon 
•   capital expenditures 

 
Question 16                                       4 / 4 pts
A __________ forecast predicts the future cash inflows and outflows in future periods.

•   money based 
•   long-term 
•   cash flow 
•   short-term 

 
Question 17                                       4 / 4 pts
A loan backed by collateral represents a(n)

•   pledging factor. 
•   secured loan. 
•   debenture bond. 
•   bond trust. 

 
Question 18                                       4 / 4 pts
Through equity financing, stockholders become __________ of the firm.

•   suppliers 
•   creditors 
•   owners 
•   employees 

 
Question 19                                       4 / 4 pts
What is a primary area of concern for financial managers?

•   poor advertising messages 
•   inadequate market control 
•   inability to recruit qualified workers 
•   undercapitalization 

 
Question 20                                       4 / 4 pts
Typically, only highly regarded customers with financial stability receive

•   trade credit. 
•   bank premiums. 
•   secured loans. 
•   unsecured loans. 

 
Question 21                                       4 / 4 pts
In order to assist in revenue realization, a(n) __________ allocates resources throughout the firm.

•   budget 
•   forecast 
•   income statement 
•   balance sheet 

 
Question 22                                       4 / 4 pts
The budget that estimates a firm's projected cash inflows and outflows, as well as cash shortages or surpluses during a given time period, is called the __________ budget.
  operating 
  capital 
  monetary 
  cash 
 
Question 23                                       4 / 4 pts
The effective management of accounts receivable requires financial managers to

•   provide prompt cash payments to suppliers. 
•   review the credit history of new customers. 
•   allow customers more time in paying their past due accounts. 
•   refuse bank-issued credit cards. 

Question 24                                       4 / 4 pts
One of the challenges of effective financial management is

•   ensuring the satisfaction of each of the stakeholder groups. 
•   providing the financial data in a timely manner for management consultants to improve decision making. 
•   working within the strict regulations of the Financial Accounting Standards Board (FASB). 
•   having sufficient cash on hand without compromising the firm's investment potential.

 
Question 25                                       4 / 4 pts
To reduce the time and expense of collecting their accounts receivable, some firms

•   accept bank credit cards. 
•   extend credit to new customers. 
•   offer extended payment plans to existing customers. 
•   adopt a just-in-time inventory policy. 

BUS6600: Survey of Business Concepts

M6 - Quiz
Started: Feb 22 at 5:36am

 
Question 1                                    4 pts
Companies who send salespeople to customers' homes or places of work are making use of __________ selling.

• direct
• multilevel
• downline
• nonprice

 
Question 2                                    4 pts
__________ shipping uses several different modes of transportation to complete a single long-distance movement of freight.

• LAST (land-air-sea transport)
• Multilevel
• Intermodal
• Flexmode

 
Question 3                                    4 pts
About __________ of the costs of things we buy are marketing costs that go to pay for distribution costs of intermediaries.

• 30 percent
• 25 percent
• 75 percent
• 90 percent

 
Question 4                                    4 pts
Which firm would be most likely to use a selective distribution strategy for its products?

• maker of snack foods such as potato chips and pretzels
• maker of kitchen appliances
• newspaper publisher
• luxury RV manufacturer

 
Question 5                                    4 pts
QuickStop sells a variety of grab-and-go snack items to small retail stores. The fact that it sells only to other firms and not to consumers indicates that QuickStop engages only in

• pure retailing.
• mass marketing.
• wholesale sales.
• online retailing.

 
Question 6                                    4 pts
According to the box “Spotlight on Small Business,” __________ has/have made it easier for doctors and patients to connect outside of the traditional doctor’s office.

• demographics
• kiosks
• technology
• logistics

 
Question 7                                    4 pts
Compared to railroads and trucks, the biggest advantage offered by air transport is that it is

• able to reach more destinations.
• lower in cost.
• faster.
• more dependable.

 
Question 8                                    4 pts
A(n) __________ distribution strategy uses only one retail outlet in a given geographic area.

• exclusive
• solitary
• restrictive
• selective

 
Question 9                                    4 pts
Producers of snack foods (such as candy bars or potato chips) are most likely to use a(n) __________ distribution strategy for their products.

• intensive
• selective
• exclusive
• restrictive

 
Question 10                                    4 pts
Marketing intermediaries that solicit orders from retailers or other wholesalers and have the products delivered directly from the producer to the buyer are known as

• channel captains.
• truck jobbers.
• drop shippers.
• merchandise agents.

 
Question 11                                    4 pts
When firms manage the return of goods from consumers either because they are defective or for recycling purposes, they are involved in

• inbound logistics.
• factory processes.
• retail intermediaries.
• reverse logistics.

 
Question 12                                    4 pts
One way a store selling home medical equipment might add __________ utility is to provide convenient delivery and setup to customers.

• form
• conditional
• time
• possession

 
Question 13                                    4 pts
Which form of advertising offers the greatest potential for meaningful interaction between buyers and sellers?

• online advertising
• radio
• product placement
• infomercials

 
Question 14                                    4 pts
__________ encourages people to tell other people about goods or services they have enjoyed.

• Personal selling
• Publicity
• A virtual trade show
• Word-of-mouth promotion

 
Question 15                                    4 pts
Which statement is the most accurate depiction of advertising?

• Advertising does not really provide information to consumers; it merely persuades consumers to buy advertised products.
• Consumers don't remember good advertisements.
• Word of mouth is the most effective form of advertising.
• Advertising helps pay for production costs of newspapers and magazines.

 
Question 16                                    4 pts
Which statement is the most accurate assessment of promotion?

• Successful promotion utilizes each element of the promotion mix independently, creating a well-diversified message.
• Studies indicate that effective promotion focuses on the pricing elements of the marketing mix.
• The Internet changes the focus of promotion from "working with" to "promoting to" customers.
• New promotional efforts create a more interactive approach, developing a dialogue between the firm and its customers.

 
Question 17                                    4 pts
Future promotional efforts will likely be

• similar to promotional efforts today.
• less interactive and more persuasive.
• custom-designed to reach smaller audiences.
• targeted at larger audiences.

 
Question 18                                    4 pts
A __________ is designed to allow B2B buyers to see products online 24/7 without having to leave their office.

• television infomercial
• direct mail promotion
• virtual trade show
• marketing portfolio

 
Question 19                                    4 pts
The effectiveness of direct mail advertising suffers from

• its inflexibility.
• its inability to target specific markets.
• the consumer perception that it is junk mail.
• the limited length of the message.

 
Question 20                                    4 pts
Two-way communication between businesses and customers becomes easier by using

• mobile marketing.
• social media.
• product placement.
• viral marketing.

 
Question 21                                    4 pts
Which characteristic helps explain the popularity of infomercials?

• ability to clearly demonstrate the product's benefits
• use of an inexperienced salesperson who is believable
• interactive nature of the presentation
• impact of favorable government testimonials on potential buyers

 
Question 22                                    4 pts
__________ refers to such tactics as paying people to say good things about a product online or setting up multilevel selling schemes that reward people for directing their friends to a company's website.

• Trade show advertising
• Viral marketing
• Direct mail
• Demographic analysis

 
Question 23                                    4 pts
A good public relations program recognizes that the

• firm must be independent of production and service activities.
• media are not to be trusted since they profit by selling bad news.
• firm must be willing to make changes in its policies and procedures.
• company must not admit fault.

 
Question 24                                    4 pts
Which statement about sales promotion is most accurate?

• Sales promotions are targeted both internally and externally.
• Sales promotion efforts are directed exclusively at nonprofit organizations.
• The only goal of sales promotion activities is to create consumer awareness.
• Dealers are inappropriate targets of sales promotion activities.

 
Question 25                                    4 pts
In evaluating the best advertising medium to reach a specific target market the clear choice is

• direct mail.
• network television.
• cable television.
• newspapers.

BUS6600: Survey of Business Concepts 

M5 - Quiz 

Score for this quiz: 100 out of 100 

Submitted Feb 15 at 12:58am

Question 1                                     4 pts
Which term involves the analysis of markets to identify opportunities and challenges?

• opportunity identification
• marketing research
• market prospecting
• market analysis

 
Question 2                                     4 pts
Firms adopting a relationship marketing strategy view technology and social media as a(n)

• promising technique to expand to a mass market.
• tool with limited value because many people are reluctant to place orders or send information electronically.
• threat to the effective and efficient implementation of their strategy.
• increased opportunity to personalize marketing campaigns to meet customer needs.

 
Question 3                                     4 pts
Exploring __________ data first helps marketers minimize marketing research costs.

• primary
• secondary
• personal interview
• focus group

 
Question 4                                     4 pts
Marketers define a __________ as any physical good, service, or idea that satisfies a want or need.

• product
• benefit
• concept
• value

 
Question 5                                    4 pts
The two major types of markets are the

• consumer market and the B2B market.
• B2B market and the C2C market.
• target market and the niche market.
• primary market and the secondary market.

 
Question 6                                     4 pts
One factor that influences the consumer decision-making process is __________, referring to the set of values, attitudes, and ways of doing things passed from one generation to another in a given society.

• cognitive dissonance
• culture
• group behavior
• the legal environment

 
Question 7                                     4 pts
Which statement about the distinction between consumer goods and B2B goods is the most accurate?

• Industrial goods are custom-made to the specifications of the buyer, while the all consumer goods are mass-produced.
• Consumer goods are typically more expensive than industrial goods.
• Industrial goods tend to have a useful life of several years and can be depreciated while consumer goods typically last less than a year.
• The same product can be classified as either a consumer good or an industrial good, depending upon its end use.

 
Question 8                                     4 pts
A firm that uses __________ segmentation divides a market into groups based on values, attitudes, or interests.

• benefit
• demographic
• normative
• psychographic

 
Question 9                                    4 pts
What characteristic is a part of the marketing concept?

• avoidance of risk
• limitless markets
• emphasis on efficient production
• a consumer orientation

 
Question 10                                     4 pts
Contacting customers after a sale to reassure them that they made the right decision is intended to offset

• relationship conflict.
• mass marketing.
• self-actualization.
• cognitive dissonance.

 
Question 11                                     4 pts
A firm that uses __________ segmentation divides a market into groups based on life stage, race, or profession.

• value
• benefit
• target
• demographic

 
Question 12                                     4 pts
Which statement about the B2B market is true?

• The size of the market is smaller than the consumer market.
• Industrial buyers tend to be more emotional in their purchasing decisions.
• Promotion efforts are focused mostly on advertising.
• Industrial buyers are usually large.

 Question 13                                     4 pts
A leading cause of new-product failure is

• insufficient competition.
• product promises that are not delivered.
• the automation of the product development process.
• excessive product differentiation.

 
Question 14                                     4 pts
What is a stage of the new-product development process?

• automation
• commercialization
• selective perception
• media screening

 
Question 15                                     4 pts
Which development is consistent with the introduction stage of the product life cycle?

• minimum use of advertising
• decreasing sales volume
• low profit levels or a potential loss
• large number of competitors

 
Question 16                                     4 pts
What term refers to a group of products offered by a firm that are physically similar or are intended for a similar market?

• total product offer
• product line
• product mix
• product matrix

 
Question 17                                     4 pts
Nonbranded products that sell below the price of national brands, have very basic packaging, and are backed with little or no advertising are called

• distributor brands.
• generic goods.
• house brands.
• universal goods.

 
Question 18                                     4 pts
As firms develop their marketing mix, it is important to remember that

• prices must be linked directly to the cost of production.
• firms are often restricted in creating pricing strategies by relevant government rules and guidelines.
• instincts and past history are the best guides in determining price.
• regardless of the strategy used, prices ultimately reflect the forces of supply and demand.

Question 19                                     4 pts 

__________ costs are those costs that change as the level of production changes.

• Variable
• Fixed
• Mixed
• Set

 
Question 20                                     4 pts
The strategy of first determining what the market is willing to pay, then subtracting a desired profit margin to determine a desired cost of production, is called

• skimming pricing.
• target costing.
• penetration pricing.
• cost-based pricing.

 
Question 21                                     4 pts
What is a benefit of a brand name for a seller?

• quality assurance
• additional prestige
• increased repeat purchases
• reduction in search time

 
Question 22                                     4 pts
What is a potential problem with a high-low pricing strategy?

• It places too much emphasis on nonprice competition.
• It confuses and frustrates customers.
• It is difficult to implement.
• It teaches customers to wait for sales, and therefore reduces profits.

 
Question 23                                     4 pts
When a brand becomes commonplace and identified with a category of goods rather than the unique product of a specific manufacturer, the brand may become a

• trademark.
• universal product code.
• product liability issue.
• generic name.

 
Question 24                                     4 pts
Which description pertains to the job performed by brand managers?

• It is likely to become less important in firms that utilize the Internet.
• It involves broad responsibilities for the marketing of a specific brand or product line.
• It is mainly concerned with the promotion of the entire product mix of their firm.
• It focuses more on the pricing and promotion of established goods than on the development of new products.

 
Question 25                                     4 pts
Which statement is the most accurate assessment of the role packaging plays in product offerings?

• The importance of packaging is greater now than ever.
• The importance of packaging has diminished as online retailing has grown.
• While packaging plays an important role in marketing goods, it is not relevant to the marketing of services.
• Effective packaging eliminates the potential of product liability suits.

BUS6600: M4 - Quiz 

Score for this quiz: 100 out of 100 

Submitted Feb 7 at 5:01am

Question 1                               4 pts
It is accurate to state that ethical dilemmas in business

• often force us to choose between equally unsatisfactory alternatives.
• always end up bringing out the best in us.
• force us to make poor choices.
• define us as being moral absolutists or moral situationalists.

 
Question 2                               4 pts
Considering the potential impact on others prior to making a decision is consistent with __________ behavior.

• legal
• self-motivated
• anti-social
• ethical

 
Question 3                               4 pts
The position a firm takes on issues that affect the corporation as well as society is known as its

• corporate policy.
• target posturing.
• political philanthropy.
• structural positioning.

 
Question 4                              4 pts
Which question will help individuals and organizations when deciding if their decisions are ethical?

• Is it balanced?
• Is there a desirable alternative?
• Can I do this without getting caught?
• Has it been done before?

 
Question 5                               4 pts
When managers disregard the company's ethical concerns, the likely result is

• a reduction in lawsuits.
• an improvement in overall manager morale.
• a reduction in employee turnover.
• a general mistrust between workers and management.

 
Question 6                               4 pts
The first and most basic step when facing an ethical dilemma is to ask

• "Is it balanced?"
• "Is it profitable?"
• "How will it make me feel about myself?"
• "Is it legal?"

 
Question 7                               4 pts
Organizational ethics begins with

• an understanding of the law.
• strong managers.
• the individual values of employees.
• traditional religious institutions.

 
Question 8                               4 pts
Determining what is involved for a firm to be socially responsible

• varies, and has several dimensions.
• is clear-cut and easy.
• varies from industry to industry due to different laws.
• helps government officials develop appropriate legislation.

 
Question 9                               4 pts
A payoff for socially conscious behavior is

• new and loyal customers.
• a large pool of investors.
• a large pool of talented employees.
• longevity due to a stable external environment.

 
Question 10                               4 pts
What is the most basic reason why a business should be managed ethically?

• Your employees demand it.
• There are strict global regulations require it.
• It's the right thing to do.
• It's the law in the United States.

 
Question 11                               4 pts
A(n) __________-based ethics code emphasizes the prevention of unlawful behavior by increasing control and penalizing wrongdoers.

• legal
• compliance
• corporate responsibility
• integrity

 
Question 12                               4 pts
When working with international firms, U.S. businesses

• expect socially responsible behavior from their business partners.
• try to avoid judging international business partners by U.S. standards.
• tend to ignore the ethics of their international partners.
• feel that their responsibility is limited to the United States.

 
Question 13                               4 pts
Early settlers of the New World relied heavily on barter because

• they found barter more convenient than the use of money.
• money had not yet evolved.
• they wanted to protest against British control of the banking system.
• strict laws limited the number of coins that could be brought into the colonies.

 
Question 14                               4 pts
__________ represent money set aside by corporations, nonprofit organizations, or unions to cover part of the retirement needs of their members.

• Term-life retirement funds
• Annuity accounts
• Individual retirement accounts
• Pension funds

 
Question 15                               4 pts
Which institution primarily finances economic development projects in less-developed countries?

• International Monetary Fund
• International Reserve Bank
• International Development Administration
• World Bank

 
Question 16                               4 pts
The Federal Reserve System consists of __________ Federal Reserve banks.

• 5
• 12
• 14
• 9

 
Question 17                               4 pts
For banks, check-processing activities

• are not trustworthy and reliable.
• are expensive and time consuming.
• are extremely efficient and have deterred customers from using other ways to access their funds.
• still represent the cheapest way to permit customers use of their funds.

 
Question 18                              4 pts
A __________ represents an unconditional agreement by a bank to pay a specified amount at a particular time.

• certified trade acceptance
• banker's acceptance
• guaranteed funds agreement
• letter of credit

 
Question 19                               4 pts
The __________ category of money supply includes money that is quickly and easily accessed.

• M-2
• e-cash
• M-3
• M-1

 
Question 20                               4 pts
When the value of the U.S. dollar increases relative to other currencies,

• the rate of inflation increases.
• U.S. goods become less expensive to foreign buyers.
• the size of the national debt decreases.
• foreign goods become less expensive to U.S. consumers.

 
Question 21                               4 pts
An increase in the rate of inflation would likely result from a(n)

• increase in the supply of money in circulation.
• rise in interest rates.
• rise in the unemployment rate.
• decrease in spending by the federal government.

 
Question 22                               4 pts
The Fed uses __________ to regulate the money supply.

• the political negotiation process
• the discount rate
• the deposit requirement
• stock market investments

 
Question 23                               4 pts
A time deposit that earns interest is a

• debit account.
• certificate of deposit.
• checking account.
• discount deposit.

 
Question 24                               4 pts
Under the Federal Reserve Act of 1913,

• membership in the Federal Reserve System was required of all banks that had deposits of more than $1 million.
• membership in the Federal Reserve System was made voluntary for all banks.
• federally chartered banks were required to join the Federal Reserve System.
• all banks were required to hold reserves equal to at least 50 percent of their deposits.

 
Question 25                               4 pts
Which institution helps to provide for the smooth flow of money between nations?

• International Exchange Center
• International Monetary Fund
• Foreign Exchange Bank
• World Bank

 BUS6600: Survey of Business Concepts 

M3 - Quiz
Started: Feb 1 at 10:25am

Score for this quiz: 100 out of 100

Question 1                      4 pts
A __________ allows workers to work the full number of hours per week in fewer days.

• compressed workweek
• flextime plan
• maximum plan
• double shift plan

 
Question 2                     4 pts
Computer and robotics training is sometimes performed in a nearby classroom-type setting. We refer to this near-the-job-training as

• orienteering.
• apprenticeship training.
• mentoring.
• vestibule training.

 
Question 3                       4 pts
Today, fringe benefits account for more than __________ percent of total payroll costs.

• 24
• 18
• 30
• 6

 
Question 4                      4 pts
Which statement is the most accurate description of the impact the Americans with Disabilities Act of 1990 (ADA) has on businesses?

• ADA has had no real impact, since most businesses have always been sensitive to the needs of disabled workers.
• Most firms are finding that some accommodations required by ADA are more difficult to implement than the structural changes.
• Businesses have found that even with the changes required by ADA, disabled workers are simply not capable of handling most types of jobs.
• Most firms have found that the structural changes needed to comply with ADA requirements have been very difficult and expensive to implement.

 
Question 5                     4 pts
Which statement best describes the current view of the role of human resource management within a firm?

• Human resource management is largely a clerical function that involves keeping records, processing payroll, and making sure that federal regulations are met.
• Human resource management functions have become so important that in many firms all managers now perform them.
• Changes in technology have largely done away with the need for a separate human resource department.
• Human resource management has become so complex that only highly trained specialists should make human resource decisions.

 
Question 6                      4 pts
Two advantages of using __________ to fill open positions are: (1) it improves the morale of current employees, and (2) the person filling the position is already familiar with the organization's culture and procedures

• external sources
• unskilled workers
• apprenticed workers
• promotions from within

 
Question 7                      4 pts
The first step in the employee selection process is

• placing a help wanted ad.
• aptitude testing.
• the initial interview.
• obtaining complete application forms.

 
Question 8                      4 pts
Pre-employment physical examinations are

• an excellent way to screen out employees.
• legal in some states, but only if given to everyone applying for the position.
• illegal under current employment legislation in all 50 states.
• legal in all states, but seldom used.

 
Question 9                      4 pts
Which statement about team pay is the most accurate?

• Most managers have concluded that team pay methods are so complex and difficult to administer that they have gone back to pay plans based on rewarding workers for their individual achievements.
• Team pay plans should emphasize individual rewards since the team can succeed only if all individuals are highly motivated to work as hard as possible.
• Although individuals who make an outstanding contribution should be recognized and rewarded, a pay system based strictly on individual performance can undermine the cohesiveness teams need to meet their goals.
• Most managers are very satisfied with the team-based pay programs that are currently in place.

 
Question 10                      4 pts
A __________ is a statement that identifies the minimum qualifications required of a worker in order to perform a specific job.

• job specification
• performance criteria review
• human resource inventory
• job description

 
Question 11                      4 pts
An important U.S. government organization charged with setting human resource management guidelines is

• the EEOC (Equal Employment Opportunity Commission).
• the WPA (Works Progress Administration).
• the OSHA (Occupational Safety and Health Administration).
• the MPDA (Manpower Development Administration).

 
Question 12                     4 pts
The __________ method is a pay system that is based on job tiers, with each tier having a strict pay range.

• Hay
• Steiner
• Gantt
• Gilbreth

 
Question 13                      4 pts
A __________ is a check of a potential employee's work record, academic record, credit history, and recommendations.

• background investigation
• character review
• fidelity appraisal
• personality profile

 
Question 14                      4 pts
The National Institute of Health estimates that each drug abuser can cost an employer approximately __________ annually.

• $500
• $10,000
• $5,000
• $1,000

 
Question 15                      4 pts
The presence of formal labor organizations in the United States dates back to the

• Civil War.
• depression years of the 1930s.
• late 1800s.
• late 1700s.

 
Question 16                      4 pts
The AFL originally was a federation of craft unions that did not attempt to organize industrial unions. The main reason for this strategy was that

• most industrial unions had supported the Knights of Labor in a dispute with the AFL during the 1880s.
• the leaders of the AFL believed that the skilled workers represented by craft unions would have better bargaining power than unskilled workers.
• craft unions had more political clout than industrial unions.
• industrial unions were illegal until the passage of the Taft-Hartley Act in 1947.

 
Question 17                      4 pts
If management and union officials cannot resolve a grievance, a(n) __________ is asked to listen to the arguments of each side and to make a decision that both sides will have to comply with.

• manager
• counselor
• mediator
• arbitrator

 
Question 1                      4 pts
Historically, the most potent union tactic when collective bargaining efforts break down has been the

strike.

primary boycott.

lockout.

court injunction.
 
Question 19                      4 pts
In its early years, the AFL's strategy was to

• grow as rapidly as possible by allowing people from all professions and walks of life to join.
• limit its membership to unskilled and semiskilled workers.
• form one big craft union which everyone could join; but it later split into several smaller organizations.
• limit its membership to skilled craftspeople.

 
Question 20                     4 pts
Workplace bullying tends to focus on abuse that is __________ in nature.

• social
• biological
• physical
• psychological

 
Question 21                      4 pts
__________ is the process by which a group of workers legally take away a union's right to represent them.

• Impeachment
• Disqualification
• Disenfranchisement
• Decertification

 
Question 22                      4 pts
A(n) __________ occurs when management temporarily closes a business to deny employment to workers.

• secondary boycott
• involuntary strike
• employment injunction
• lockout

 
Question 23                      4 pts
What is an effective way to deal with the growing threat of workplace violence?

• Ignore it, as the amount of workplace violence has actually decreased substantially.
• Ask employees that are experiencing threats or harassment to take paid leave.
• Hire proactive managers.
• Avoid disciplining employees who are not performing up to par since they will learn on the job and their performance will improve over time.

 
Question 1                      4 pts
The process of bringing in an impartial third party to render a binding decision in a labor dispute is referred to as

• arbitration.
• resolution.
• certification.
• mediation.

 
Question 1                      4 pts
__________ are workers a company hires to replace workers who are out on strike.

• Yellow dogs
• Convergent workers
• Structural replacements
• Strikebreakers

M2 - Quiz
Started: Jan 24 at 10:43pm

Score for this quiz: 100 out of 100

Question 1                                                  4 pts
Strategic planning looks at the organization as a whole, while __________ planning focuses on daily tasks and decisions.

• mission
• tactical
• operational
• contingency

 

Question 2                                                  4 pts
In traditional organizations, __________ involves giving explicit instructions to workers, telling them what to do to meet the goals and objectives of the organization.
Group of answer choices

• controlling
• budgeting
• directing
• organizing

Question 3                                                   4 pts
A vision for a company is

• very relevant for the short term, but less useful for the long term.
• a detailed plan that outlines the major organizational structure of the firm.
• an explanation of why the company exists and where it wants to go.
• the same thing as an objective.

 
Question 4                                                  4 pts
__________ is the management function of creating a vision for the organization and guiding, training, coaching, and motivating employees to help achieve the goals and objectives of the organization.

• Controlling
• Officiating
• Organizing
• Leading

Question 5                                            4 pts
The first step in the rational decision-making model is to

• develop alternative responses.
• gather data.
• recruit team members to work on the problem.
• define the situation.

Question 6                                                  4 pts
__________ skills involve a manager's ability to picture the organization as a whole and the relationships among its various parts.

• Creative
• Conceptual
• Technical
• Autonomic

Question 7                                                  4 pts
Which activity is part of the planning function of management?

• Praising a sales representative who has far exceeded her monthly sales objectives
• Assigning a particular worker to do a specific task
• Looking at market forecasts to identify future business opportunities and challenges
• Conducting a job interview with a potential new employee

Question 8                                                  4 pts
__________ involves setting the organization's vision, goals, and objectives.

• Controlling
• Directing
• Organizing
• Planning

Question 9                                                  4 pts
__________ involves recruiting, hiring, motivating, and retaining the best people available to accomplish the company's objectives.

• Planning
• Staffing
• Directing
• Leading

 
Question 10                                                  4 pts
The management function concerned with anticipating future trends and determining the best strategies to achieve an organization's goals and objectives is known as

• leadership.
• planning.
• forecasting.
• directing.

 
Question 11                                                  4 pts
__________ is choosing among two or more alternatives.

• Organizational selection
• Utility analysis
• Contingency planning
• Decision making

Question 12                                                  4 pts
A(n) __________ would be used by a department manager as a tool for making daily and weekly assignments.

• mission statement
• operational plan
• tactical plan
• vision statement

 
Question 13                                                  4 pts
The Hawthorne studies concluded that worker motivation

• was mainly determined by physical working conditions.
• was most affected by monetary incentives.
• improved when employees felt like their ideas were respected.
• increased when managers applied the scientific management approach.

Question 14                                                  4 pts
In order to understand how to motivate the various generations, we need to understand each generation's preferred mode of communication. Look at the following chart and fill in the blank cell.

Generation   :  Preferred Communication Style at Work
Traditionalists;    Face to face
Baby Boomers :   
Gen Xers:    Email
Millennials :   Technology such as social media

Group of answer choices

• meetings and conference calls
• online and social media
• by text
• by cell phone

 

Question 15                                                  4 pts
Herzberg's research indicated that employees are motivated by job content. Modern managers focus on __________ by increasing the significance of the job, and even providing the employee with important feedback.

• enriching the job
• simplifying the job
• rotating the job
• reducing the responsibilities in the job

Question 16                                                  4 pts
Which statement about high-context cultures reflects how managers in this type of culture might operate?

• As a sales professional trying to sell your product to a business that operates within a high-context culture, you may have to visit the decision makers several times and get to know them on a personal level.
• As a manager in a high-context culture, you will always stress that employees compartmentalize their work life and home life, so that each does not interfere with the other.
• Your personal life wouldnot be of concern to a manager that operates in a high-context culture.
• If you are selling your company's product to another business that has a high-context culture, it is almost guaranteed that the product or service will sell itself.

Question 17                                                  4 pts
Even across generations, employee motivation is likely to

• come from the job itself.
• remain a mystery because researchers cannot quite pinpoint where it comes from.
• develop within employees over time.
• diminish among employees who achieve at high levels.

Question 18                                                  4 pts
What is a characteristic of a high-context culture?

• Workers get right to the task, after they ease into the workday.
• Relationship building and group trust are considered very important and occur before performing business tasks.
• Workers get right to the task, without the need to socialize during the first 30 minutes at work.
• Relationship building is considered a waste of time.

 
Question 19                                                  4 pts
__________ is considered the “father” of scientific management.

• Frederick Taylor
• Elton Mayo
• Henry Gantt
• Frank Gilbreth

Question 20                                                  4 pts
The concept that a hierarchy of human needs could be used to explain motivation was developed by

• Douglas McGregor.
• Frederick Herzberg.
• Abraham Maslow.
• Frederick Taylor.

Question 21                                                  4 pts
The tendency for people to behave differently when they know they are being studied is known as the

• Hawthorne effect.
• Taylor effect.
• time-motion effect.
• self-actualization effect.

Question 22                                                  4 pts
__________ attempts to increase task efficiency by breaking down jobs into simple steps and assigning people to each of those steps.

• Job segmentation
• Job simplification
• Goal setting
• Task restriction

 
Question 23                                                  4 pts
Maslow placed __________ needs at the highest level of his hierarchy.

• esteem
• social
• deferred
• self-actualization

Question 24                                                  4 pts
According to Herzberg, the difference between motivators and hygiene factors is

• hygiene factors develop more loyalty from workers, while motivators make workers enthusiastic about moving on to a different company.
• motivators cause persons to work smarter, while hygiene factors cause people to work harder.
• motivators relate to job content, while hygiene factors have little effect on employee motivation.
• hygiene factors make employees more enthusiastic about the work itself, whereas motivators make employees enthusiastic about their next day off.

Question 25                                                  4 pts
Herzberg found that an employee’s salary

• was a hygiene factor rather than a motivator.
• was a significant motivator, but not as important as job security.
• had no effect on worker attitudes.
• was the strongest motivator.

Quiz Score: 100 out of 100

 BUS6600: Survey of Business Concepts | M1 - Quiz

Score for this quiz: 100 out of 100

Submitted Jan 14 at 8:18pm

This attempt took 22 minutes.

Question 1                                            4 pts
Which statement best describes the main difference between B2B and B2C transactions?

• B2B transactions involve sales in foreign markets while B2C e-commerce is restricted to domestic markets.
• B2B transactions involve transactions where the buyers and sellers are both businesses, while B2C involves transactions between businesses and consumers.
• B2B transactions focus on financial transactions while B2C e-commerce focuses on the sale of manufactured goods.
• B2B transactions refer to business between nonprofit organizations while B2C e-commerce is carried out by business firms seeking to earn a profit.

 
Question 2                                            4 pts
When we compare the factors of production in wealthy versus poor nations, we find

• poor and wealthy nations (both) have an abundance of knowledge; it is the land that varies, with rich nations always having more.
• poor nations have plenty of land and knowledge, but very little labor.
• wealthy nations have land and labor, while poor nations have capital and entrepreneurship.
• wealthy nations have knowledge and entrepreneurial opportunities, while poor nations are often lacking in these areas.

 
Question 3                                            4 pts
Efficiency in distribution systems around the world has led to

• reduced standards of living around the world.
• increased world trade.
• decreased world trade.
• decreased international competition.

Question 4                                            4 pts
An entity that seeks to earn a profit by providing a good or service is known as a(n)

• industry.
• service.
• business.
• corporation.

Question 5                                            4 pts
World trade has both benefits and costs. Which statement best attests to this fact?

• Engaging in international trade can significantly lower the costs of parts and products, but it also carries the risk of substantial disruptions if supply chain issues arise.
• Economists are convinced that global job creation will never occur if our politicians support world trade.
• The standard of living for citizens in developing nations has significantly decreased due to globalization.
• The U.S. economy and all businesses that participate in this economy were negatively impacted by recent wars.

Question 6                                             4 pts
The service industry represents about __________ of U.S. workers.

• 25%
• 45%
• 65%
• 85%

Question 7                                            4 pts
Two factors of production that seem to contribute the most to a nation's ability to create wealth are

• land and capital.
• entrepreneurship and labor.
• entrepreneurship and knowledge.
• land and labor.

Question 8                                            4 pts
Greening refers to

• the need for more carbon dioxide in our air.
• firms acquiring more greenbacks (U.S. dollars) from world trade.
• the agricultural industry's push to develop and produce new green vegetables to feed the world.
• finding ways to save energy and lessen the harm on our environment.

Question 9                                            4 pts
Employers provide tools and technology for their employees in order to

• increase the cost of production and profitability.
• improve their efficiency and productivity.
• reduce corruption in business and eliminate scandals.
• encourage the private ownership of businesses.

Question 10                                             4 pts
The threat of terrorism more often __________ the cost of operating a business.

• decreases
• stabilizes
• determines
• increases

Question 11                                            4 pts
In order to compete well and gain market share, contemporary businesses are changing to be more

• customer-driven.
• production-driven.
• cash-driven.
• management-driven.

Question 12                                            4 pts
What is the most accurate statement about the impact of business on society?

• When businesses earn a profit for their owners, they usually do so at the expense of the rest of society, which proves it is never a win-win situation.
• Businesses can have a positive impact on both the standard of living and the quality of life within a society.
• Businesses often improve the quality of life, but can do little to improve the standard of living for most people.
• While businesses often improve the standard of living within a society, they can do little to improve the quality of life.

Question 13                                             4 pts
__________ unemployment refers to persons who purposefully quit their jobs and have not yet found a new job.

• Frictional
• Seasonal
• Structural
• Cyclical

 
Question 14                                            4 pts
Which policy suggests Keynesian economic theory?

• proposing long-term solutions in order to create wider swings in the business cycle
• creating a national banking system that owns and operates most of the global and regional banks
• reducing government involvement in the free-market economy
• short-term increases in government spending to stimulate the economy

 
Question 15                                            4 pts
Which topic would be emphasized in a microeconomics class?

• how market conditions determine the price of a specific product
• the nation's unemployment rate
• how a nation's GDP is computed
• how the government can provide adequate health care

Question 16                                            4 pts
An oligopoly is a market that is characterized by

• several small firms that compete primarily by differentiating their products.
• a few large sellers who dominate the market.
• a large number of small companies all producing very similar products.
• one seller that totally dominates the supply of the product.

Question 17                                            4 pts
Thomas Malthus was pessimistic about the ability of a society to achieve high standards of living for most of its citizens because he believed that

• the wealthy will never promote freedom of choice for workers.
• high tax rates would eventually undermine people's incentives to work hard and create wealth.
• significant population growth would result in shortages of food and resources.
• government has a natural tendency to run deficits that would eventually bankrupt a nation.

Question 18                                             4 pts
Today, the economic systems of most nations could most accurately be classified as

• command economies.
• pure socialism.
• pure capitalism.
• mixed economies.

Question 19                                            4 pts
Just a few sellers dominate the markets for laundry detergents, soft drinks, and automobiles. Economists would classify these markets as

• perfect competition.
• oligopolies.
• monopolistic competition.
• monopolies.

Question 20                                            4 pts
Which statement about capitalism is the most accurate?

• A drawback of capitalism is that people have little freedom to pursue their own goals.
• Capitalism is characterized by unequal distribution of wealth and income.
• A strength of capitalism is its ability to deal with environmental problems.
• In capitalist economies, most resources are owned by the government.

Question 21                                            4 pts
The __________ system provides the least incentive to work hard or to produce quality goods or services.

• mixed economy
• socialist
• communist
• capitalist

 
Question 22                                            4 pts
When the supply curve and demand curve for a particular good are shown together on a single graph, the point at which the two curves intersect identifies the

• amount of time it takes to bring together the buyers and sellers of the good.
• total profit earned by producers.
• total amount of labor needed to produce the good.
• equilibrium price of the good.

Question 23                                             4 pts
The quantity of a good or service that producers are willing to sell at different prices during a specific time period is known as the

• utility of that product or service.
• demand for that product or service.
• elasticity of that product or service.
• supply of that product or service.

 
Question 24                                            4 pts
A command economic system is characterized by

• reliance on the forces of supply and demand to determine what is produced.
• an extremely rapid rate of economic growth.
• reliance on the government to determine what is produced and who gets the output.
• freedom of choice and freedom of competition.

Question 25                                            4 pts
Which statement about business cycles in the United States is most accurate?
Group of answer choices

• Business cycles occur precisely every five years.
• Seasonal business cycles occur within a year.
• Business cycles are impossible to identify.
• Long-term business cycles have only two phases—boom and bust.

A free market is one where decisions regarding what and how much to produce are made by the market itself. This market is made up of buyers and sellers negotiating prices for goods and services. It is generally accepted that there are four degrees of competition within a free-market system. These include perfect competition, monopolistic competition, oligopoly, and monopoly.

One benefit of the free market is that it allows open competition among companies. Businesses must provide customers with high-quality products at fair prices with good service. If they don't, they lose customers to businesses that do.

Select the degree of competition that best describes each listed industry or business based on the description.

Automotive Industry: In this industry, there are a few sellers that tend to dominate the market.

• Perfect Competition
• Monopolistic Competition
• Oligopoly
• Monopoly

Beef Industry: There are many different suppliers of these products, which prevents any one of them from setting prices.

• Perfect Competition
• Monopolistic Competition
• Oligopoly
• Monopoly

Soda Industry: In this industry the products are very similar, although consumers perceive them as being very different.

• Perfect Competition
• Monopolistic Competition
• Oligopoly
• Monopoly

Agricultural Commodities: There are many different growers of these products, which prevents any one of them from setting prices.

• Perfect Competition
• Monopolistic Competition
• Oligopoly
• Monopoly

Airline Industry: In this industry, there are a few sellers that tend to dominate the market.

• Perfect Competition
• Monopolistic Competition
• Oligopoly
• Monopoly

Athletic Shoe Industry: In this industry the products are very similar, although consumers perceive them as being very different.

• Perfect Competition
• Monopolistic Competition
• Oligopoly
• Monopoly

ACME Light and Power: Through special legislation, this supplier is the sole provider of electricity to its local municipalities.

• Perfect Competition
• Monopolistic Competition
• Oligopoly
• Monopoly

Cable Television Industry: In smaller markets, one company is the sole provider of cable television service to consumers in local municipalities.

• Perfect Competition
• Monopolistic Competition
• Oligopoly
• Monopoly