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Study Guide

Final Exam B101

Brother Nygren

True/False

____1. Salary is a term that represents compensation based on the number of hours worked.

____2. A bond’s price is quoted as the percentage of the bond’s face value.

____3. The first question to ask when developing a Web site is how much money should be invested to establish and maintain the site.

____4. The majority of Web pages are written in English.

____5. The phase of production control in which the manager instructs each department on the work to be done and the time allowed for its completion is called dispatching.

____6. People age 18 to 24 with debt are among the fastest-growing groups who file bankruptcy.

____7. The balance sheet is based on the accounting equation.

____8. Ireland is one of the top international markets for U.S. trade.

____9. Often entrepreneurs are not afraid of failure because there is little chance that they will fail.

____10. One of the goals of consumerism is for consumers to have access to enough education and production information to make responsible purchase decisions.

____11. If a nation has an unfavorable balance of trade, it will also have an unfavorable balance of payments.

____12. Some employees rationalize questionable or unethical behavior by saying, “Everyone does it.”

____13. A sole proprietor faces unlimited liability.

____14. A good example of a cooperative is Blue Diamond Almond Growers.

____15. Leah bought 100 shares of stock of General Electric, which is traded on the NYSE. Leah purchased these shares in the primary market.

____16. Downsizing can have devastating effects on employee morale.

____17. Integrity goes beyond truthfulness.

____18. Noise during the communication process can be due to both physical factors and cultural differences between the sender and receiver.

____19. For small business owners who work in a customer’s home, wearing a uniform isn’t important since customers expect a more casual appearance.

____20. Transportation by truck is extremely economical.

____21. Technological changes can compress the life cycle of products.

____22. A company should view employee training as an ongoing process throughout each employee’s tenure with the firm.

____23. Treasury bills are ideal if an investor requires stability of principal.

____24. If the equilibrium price is below the market price, a shortage of a good or service will likely result.

____25. The decision-making process includes the recognition of a problem or opportunity.

Multiple Choice

26. Give an example of an enterprise resource planning system

27. Where is a shrinking labor force a particular challenge?

28. Define physical distribution

29. What does the federal government spend the most money on?

30. What matures within one year from the date of issue?

31. Define capital

32. Where does a large part of the U.S. economy’s growth come from?

33. What can outsourcing do for a firm?

34. What helps to foster ethical action among employees?

35. Define a financial plan

36. Define a balance sheet

37. What financial assets are included in M2?

38. Who are the two principals in a franchising agreement?

39. Who does outsourcing begin with in most firms?

40. Define creativity

41. Define distribution

42. What is a credit union?

43. What stock market is the largest in terms of the dollar value of stock traded?

44. Give some examples of assets

Inventory, patents, and cash pg 521

45. Define skunkworks

46. Who does the supply chain end with?

47. How does a supply curve appear on a graph?

48. What percentage of all small businesses are owned by women?

49. A Treasury bill is most likely to be sold where?

50. What is the largest franchise in the United States?

51. What is used to empower employees?

52. What tasks do public accountants typically perform for business clients?

53. Give an example of an ethical issue dealing with a company and its direct relations with investors?

54. What does an accountant do?

55. Define encryption software

56. Identifying a target market is the first step in what?

57. Define ethical awareness

58. Define insider trading

59. Define return

60. What are some internal sources of data?

61. Define global strategy

62. What type of economy do entrepreneurs have the most economic freedom in?

63. What are the best measures of ethical leadership?

64. Who do businesses have responsibilities to?

65. Give an example of exporting

66. What is an interpersonal determinant of consumer behavior?

67. Who is real economic and political power centered in in a colonial society

68. What percent of U.S. firms employ 100 or fewer workers?

69. Give an example of a nondepository financial institution

70. Define a decision support system

71. Who must be involved for a company to operate at a high set of ethical standards?

72. What does it mean when a company spreads out?

73. Define green marketing

74. Define money

75. What is used to define a product?

76. What are some effective ways to measure customer satisfaction?

77. Define social audit

78. How many newly launched businesses fail within two years after commencing operations?

79. What are some cultural barriers?

80. Define mission statement

81. Define Generally Accepted Accounting Practices (GAAP)

82. Define multidomestic strategy

83. What is the largest source of funds in the federal government?

84. The Securities and Exchange Commission has most of the federal regulatory responsibility over what?

85. Define organization

86. What sources of candidates for job openings is relatively inexpensive and helps build employee morale?

87. Who is an employee’s review conducted by in a traditional performance review?

88. Define consumer behavior

89. Define the product life cycle

90. Define pure monopoly

91. Give an example of time utility

92. Define a classic entrepreneur

93. Define closing

94. Define government bonds

95. Define disaster recovery planning

96. What are some things that word processing programs can do?

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