question

A business is:

answer

An individual/organization who try to earn money by satisfying peoples needs.

question

Example of a nonprofit:

answer

Special Olympics

question

Not one of the four types of economic systems:

answer

Corporatism

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Economic system where government owns and operates:

answer

Socialism

question

The price at which the number of products the business is willing to supply:

answer

Equilibrium Price

question

The act of taking someone else's work and presenting it as your ownwithout mentioning the source:

answer

Plagiarism

question

The act of an employee exposing an employer's wrongdoing to outsiders, such as the media or government regulatory agencies:

answer

Whistleblowing

question

An identifiable problem, situation, or opportunity that requires a person to chose from among several actions that may be evaluated as right or wrong, ethical or unethical:

answer

Ethical Issue

question

T/F: Argument against social responsibility is that some question whether or not a business has the experience needed.

answer

TRUE

question

In the movie The Emperor's Club, the quote, "You don't have to be an active participant." was:

answer

Mr. Hundert's turning point

question

Primary problem with trade deficits:

answer

Country is Exporting more than it is Importing

question

An Executive Summary is:

answer

A short document or section of a document that summarizes a longer report or proposal in such a way that readers can rapidly become acquainted with a large body of material without having to read it all.

question

T/F: Nonprofits CANNOT be dissolved

answer

TRUE

question

T/F: In TN, the Nonprofit Board of Directors has legal liability...

answer

TRUE

question

Activity with the least amount of foreign investment:

answer

Exporting

question

T/F: Multinational Strategy involves standardizing products for the whole world.

answer

FALSE

question

T/F: Sole Proprietorships the least freedom.

answer

FALSE

question

T/F: A general business involves complete sharing.

answer

TRUE

question

A business organization that has at least one general partner, who assumes unlimited liability, and at least one limited partner, whose liability is limited to his investment in the business.

answer

Limited Partnership

question

T/F: Corporations may ONLY be publicly owned.

answer

FALSE

question

The shortest path to failure in business:

answer

High Stress

question

SMART:

answer

Specific, Measurable, Attainable, Relevant, Time sensitive

question

T/F: Management is a process designed to achieve an organizations objectives by using resources effectively and efficiently in a changing environment.

answer

TRUE

question

T/F: Top managers focus on strategic decisions to use resources to take advantage of opportunities.

answer

TRUE

question

Typical resources that must be acquired by each organization in the pursuit of objectives include all of the following except:

answer

Laws and Regulations

question

Development of a performance-appraisal system is primarily the concern of:

answer

Human Resources Management

question

Analytical skills mean a manager can do all of the following except:

answer

Think in Abstract terms

question

T/F: An organizations structure develops as managers assign.......required to attain organizational objectives.

answer

TRUE

question

T/F: All groups are teams, but not all teams are groups.

answer

FALSE

question

(WotFi) Not a means of formally expressing an organization's culture:

answer

Employee dress code

question

When decisions of a company are very risky and low-level managers lack decision making skills companies will tend to:

answer

Centralize

question

Share leadership and create collective work products:

answer

Teams

question

(WotFi) An informal communication channel:

answer

Grapevine

question

Deals with the design and management of products, processes, services and supply chains:

answer

Operations Management

question

Examples of outputs:

answer

Food and Services

question

T/F: Intrinsic rewards are benefits and recognitions you get from someone else.

answer

FALSE

question

T/F: Managers and theory Y question.

answer

TRUE

question

All of the following are moral boosters except:

answer

Hygiene

question

Hawaiian vacation question:

answer

Expectancy Theory

question

Hawthorne studies important because:

answer

They introduced the idea that social and psychological factors affect productivity and morale.

question

T/F: Training involves teaching managers and professionals how to perform their jobs.

answer

FALSE

question

All are Human Resource activities EXCEPT:

answer

Selling

question

The qualifications for a job are given on a:

answer

Job Specification

question

An orientation would include all EXCEPT:

answer

Interview of finalists

question

T/F: Marketing creates value by allowing individuals and organizations to obtain what they want and need.

answer

TRUE

question

Marketing is not manipulating customers into buying things they do not really want, it is:

answer

A systematic approach to satisfying customers

question

Acme Inc. is surveying customers as to what kinds of services they would like the company to add. It is involved in the marketing function of:

answer

Marketing Research

question

T/F: A marketing strategy is a plan of action for developing, pricing, distributing, and promoting products that meet the needs of specific customers.

answer

TRUE

question

T/F: Secondary data are information observed and recorded or collected regularly from sources inside and outside the organization.

answer

FALSE

question

When a computer company initially charged a low price for a new computer and then raised the price after gaining a large market share, it was using which pricing strategy?

answer

Penetration

question

If a company's goal is to develop an image of having very high-quality luxury products, it should employ a:

answer

Prestige Pricing Strategy

question

A marketing channel includes all of the following except:

answer

Secondary Stakeholders

question

T/F: Advertising is direct, two-way communication with buyers and potential buyers.

answer

FALSE

question

T/F: A marketing channel is a group of marketing organizations that move products from producers to consumers.

answer

TRUE

question

T/F: The role of promotion is to communicate with individuals, groups, or organizations to facilitate an exchange directly or indirectly.

answer

TRUE

question

T/F: The characteristic of addressability means digital communication allows consumers to find information about competing products, prices, and reviews and become more informed about a firm and the relative value of its products.

answer

FALSE

question

Conducting _____ means carrying out the goals of business through the use of the Internet.

answer

E-business

question

___________ means digital communications allow consumers to find information about competing products, prices, and reviews and become more informed about a firm and the relative value of its products.

answer

Accessibility

question

(WotFi) A downside to digital media:

answer

Employees waste time at work on social networking sites and downloading music.

question

T/F: Accounting is the recording, measurement, and interpretation of financial information.

answer

TRUE

question

T/F: Only businesses use accounting information to demonstrate how their funds are being used.

answer

FALSE

question

All of the following represent assets except:

answer

A bank loan

question

T/F: All business transactions can be classified as assets, liabilities, or owner's equity.

answer

TRUE

question

T/F: The accounting cycle collects, records, and analyzes raw data constantly through the business's life cycle.

answer

TRUE

question

Money has all the following characteristics except:

answer

Intangibility

question

When inflation is very high, money is no longer a __________________ means of exchange.

answer

Stable

question

T/F: Rapid advances and technological innovations are requiring the banking industry to change.

answer

TRUE

question

T/F: Certificates of deposit are accounts with funds that usually cannot be withdrawn without advance notice and/or have limits on the number of withdrawals per period.

answer

FALSE

question

Another name for a checking account is a:

answer

Demand Deposit

question

Plants, offices, and equipment are considered:

answer

Long-term Assets

question

T/F: Two common means of financing with long-term liabilities are: equity financing and debt financing.

answer

TRUE

question

T/F: The par value is the interest rate on a bond.

answer

FALSE

question

Because having idle cash on hand is undesirable, a manager may choose to invest in:

answer

Marketable Securities

question

All of the following are ways to invest idle cash for the short term except:

answer

Unsecured loans

question

What was the one tool that Ms. Carson mentioned was one of her greatest tools when launching a project, confirming a target market, starting a new web or social media ad campaign and any number of other uses?

answer

Google Analytics

question

T/F: As an artist, Ms. Zonn felt that Pandora and spottily were advocates for artists being paid a fair wage for the airtime given to them.

answer

FALSE

question

In the music industry, what did our guest feel like would be extinct in approximately the next five years?

answer

Record Labels

question

If you need to increase a Property account, you would write a journal entry with a _____________ to that account.

answer

Debit

question

(WotF) Financial statements best represents the accounting equation:

answer

Balance Sheet

question

T/F: From a personal finance point of view, it is a good idea to never spend more than you make.

answer

TRUE

Foundations of Business: A Christian Perspective

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