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1. Eddie decided he would use real butter for his baked goods. Which economic question does this address?A. For whom to produce?B. How to produce?C. What to produce?D. When to produce?2. Goya Food Company survey results revealed that their customer base consists mostly of large families instead of individuals living alone. Which economic question does this address?A. For whom to produce?B. How to produce?C. What to produce?D. When to produce?3. A report covering several quarters about the economy includes that more companies are experiencing record high production and adding new employees. Also, wages and the rate of GDP are increasing significantly. Which phase of the business cycle does this report describe?A. DepressionB. ProsperityC. RecessionD. Recovery4. A report covering four quarters about the economy includes that more companies are experiencing less production and reducing the number of employees. Which phase of the business cycle does this report describe?A. DepressionB. ProsperityC. RecessionD. Recovery5. Mary is proud of saving over $43,000 in a local bank. She knows that her saving money at the bank will provide funds for others to borrow money. This information would be useful for which measurement of economic activities?A. BorrowingB. Consumer spendingC. Investment activitiesD. Labor activities6. The U. S. Bureau of Economic Analysis reports total wage and salary compensations for local areas. This information would be useful for which measurement of economic activities?A. BorrowingB. Consumer spendingC. GDPD. Investment activities7. An organization assisted two countries on settling a trade disagreement on the amount of bananas to be traded. This action is an example of assistance provided by which international trade organization?A. International Monetary FundB. Joint VentureC. World BankD. World Trade Organization8. An organization assisted two countries on settling a trade disagreement on tariffs. This action is an example of assistance provided by which international trade organization?A. International Monetary FundB. Joint VentureC. World BankD. World Trade Organization9. A convenience store gave the rights to a company in Mexico to sell its products and services. This is an example of which global marketplace main entry mode?A. ChainB. FranchisingC. Joint ventureD. Licensing10. Kenya’s Prime Minister is negotiating with other Ministers to sell products and services throughout the Eastern region. This is an example of which encouragement of international trade?A. Common marketsB. Free-trade agreementC. Free-trade zoneD. Tariff11. The North American Free Trade Association (NAFTA) eliminates tariffs and embargoes among its members while trading goods and services. This is an example of which encouragement of international trade?A. EmbargoB. Free-trade agreementC. Free-trade zoneD. Tariff12. Due to the high volume of travelers visiting the United Kingdom, the country has set up duty-free shops in highly visited areas. This is an example of which encouragement of international trade?A. EmbargoB. Free-trade agreementC. Free-trade zoneD. Tariff13. Syria is banned from selling products within other countries. This is an example of which international trade barrier?A. EmbargoesB. Free-trade zonesC. QuotasD. Tariffs14. Cuba bans American products to be sold within its country. This is an example of which international trade barrier?A. EmbargoesB. Free-trade zonesC. QuotasD. Tariffs15. India limits the amount of imported wheat products to protect its own industry. This is an example of which international trade barrier?A. EmbargoesB. Free-trade zonesC. QuotasD. Tariffs16. Mary owns stock for several companies, which she plans to pass ownership to her grandchildren. She chose this form of ownership over sole proprietorship because of the ADVANTAGE of:A. limited capital.B. potential of unlimited liability.C. potential of unlimited life.D. single taxation.17. Todd prefers business ownership that will not require his attention to daily activities. He chose this form of ownership over sole proprietorship because of the ADVANTAGE of the owners?A. Limited liabilityB. Recipient of 100% of ProfitC. Single taxationD. Limited life18. Both Bob and Jeri contributed to the expansion their business to sell more brands of tires. They both experienced which ADVANTAGE of a partnership over a sole proprietorship?A. Limited liabilityB. Limited lifeC. More capital availableD. Unlimited capital19. Tami prefers working alone in her auto body shop and being in control of the daily activities. This type of business ownership ADVANTAGE over corporation is:A. control of decisions.B. limited capital.C. limited life.D. unlimited liability.20. Tami wants to invest money in shares of stock. She would have to pay taxes on her earnings twice. Which is an ADVANTAGE of a sole proprietorship over a corporation?A. Limited capitalB. Limited lifeC. Single taxationD. Unlimited liability21. Travis is excited about welcoming ten new interns during orientation. Which human resources manager activity did he perform?A. Managing compensation methodsB. Managing performance of employeesC. Planning and staffingD. Recruiting and hiring22. Josh conducts orientations to inform new employees about available benefits. Which human resources manager activity does he perform?A. Management of compensation methodsB. Management of performance of employeesC. Planning and staffingD. Recruiting and hiring23. Timmy regularly meets with employees to prepare them for job evaluation conferences. Which human resources manager activity is he performing?A. Managing compensation methodsB. Managing performance of employeesC. Planning and staffingD. Recruiting and hiring24. Harry checks his electronic calendar for tasks assigned by his boss regularly. He very seldom sees his boss. This is an example of which style of leadership?A. AutocraticB. DemocraticC. Laissez-fareD. Objective25.Vera accepts input from her employees annually about the upcoming budget. This is an example of which style of leadership?A. AutocraticB. DemocraticC. Laissez-fareD. Objective26. Keisha allowed her employees to plan the expansion project. This is an example of which style ofmanagement?A. MixedB. StrategicC. TacticalD. Varied27. John renovated his restaurant to reflect the retro style of 1950. This is an example of which type of business operation?A. Facilities managementB. LogisticsC. Safety and securityD. Scheduling28. A manager determined that the buffer made the finish of cars appear to be dull. Which continuous process improvement did he perform?A. Establish quality performance standardsB. Involve everyoneC. Involve process activitiesD. Improve process quality29.Which is an example of production planning for resources?A. Determining how many more security cameras are neededB. Determining how many stores will sell the new productC. Remodeling a building in order to manufacture a new productD. Recruiting managers to sale a new product30.Which is an example of production planning for personnel?A. employees are needed for manufacturing a new product.B. more managers are needed to sell a new product.C. more security cameras to sell.D. stores will sell the product.31.Which is an example of product development?A. Installing a plastic moldB. Keeping detail records of banking transactionsC. Processing purchase ordersD. Studying new functions for a detergent32. Hanes upgrades production routinely to produce thousands of items daily. Which type of manufacturing procedure will Hanes perform to keep up with production?A. Custom manufacturingB. ExtractionC. Mass productionD. Materials processing33. Sony produces thousands of electronics to serve international consumers. Which type of manufacturing procedure was performed?A. Custom manufacturingB. ExtractionC. Mass productionD. Materials processing34.When customers sign up for online-subscriptions, they are informed on whether their information will be shared with other internal departments. This is an example of what type of concern for using technology?A. Employment trendsB. Computer-aid designC. HealthD. Privacy35. Don tried several times to remove unfamiliar files from his computer. He used anti-virus software to remove the files. This is an example of what type of concern for using technology?A. Employment trendsB. Computer crimeC. HealthD. Privacy36. Lena trained several employees on how to process financial statements using the new software. These employees use to process reports manually for almost seven years. This is an example of what type of concern for using technology?A. Employment trendsB. Computer crimeC. HealthD. Privacy37. Revlon, Inc. use tow mowers that will automatically pick up pallets from the assembly lines and move them to the warehouse. This is an example of what type of technology application?A. Artificial intelligenceB. Management information systemC. RoboticsD. Telecommuting38. Cheng processed reports on his computer that will allow his manager to make decisions about the amount of brake pads and oil to order from the warehouse. This is an example of what type of technology application?A. Artificial intelligenceB. Management information systemC. RoboticsD. Telecommuting39. ABC Corporation is attempting to buy its only competitor but a lawsuit has been filed declaring that the transaction may lead to a monopoly. Which consumer right might the corporation be violating?A. To chooseB. To serviceC. To safetyD. To consumer education40. After complaining at the customer service department, John received a favorable response. Which consumer right did he evoke?A. To serviceB. To be honestC. To be activeD. To safety41. A sales associate discourages customers from sharing complaints regularly. Which right of the consumer bill of rights is the associate possibly violating?A. To be heardB. To serviceC. To safetyD. To consumer education42. 3M prohibits another company from producing the natural fitting mouse exactly the same way they do. This company is protected by which government service?A. Contract enforcementB. Environmental protectionC. Intellectual property protectionD. Safe work environment43. John denied a rival band from performing his song at a local concert. He is protected by which government service?A. Contract enforcementB. Environmental protectionC. Intellectual property protectionD. Safe work environment44. Apple’s iPod trademark of product shape receives which government service?A. Contract enforcementB. Environmental protectionC. Intellectual property protectionD. Safe work environment45. Java’s trademark of letters and design receives which government service?A. Contract enforcementB. Environmental protectionC. Intellectual property protectionD. Safe work environment46.Which is an example of personalized promotion?A. Jade posted flyers for guests to be informed about her detox program.B. Jade’s company sponsored a health fair.C. Jade met with a couple to discuss the benefits of detoxing.D. Jade presented a seminar to 3000 people to promote a detox program.47.Which is an example of direct channel of distribution?A. Mary hired her mother to assist with her cupcake business.B. Mary pays an advertising agency to promote her cupcake company.C. Mary pays Tim to deliver cupcakes to customers.D. Mary takes care of all the marketing functions for her cupcake company.48. A travel agency usually offers vacation packages starting at $399. The manager has determined that its operating expenses have increased and will increase the additional markup to 45%. What will the new starting price for the vacation packages?A. $45.00B. $179.55C. $358.55D. $578.5549. New York Fashions Clothing Company surveys customers to find out from which zip code that most of their customers reside. The results will help with the relocation plans of the company. This is an example of which marketing function?A. DistributionB. FinancingC. Marketing-information managementD. Selling50. Dunkin’ Donuts offers a free donut to customers that complete an on-line survey. The feedback will help with the future product options. This is an example of which marketing function?A. DistributionB. FinancingC. Marketing-information managementD. Selling51. Soho sells its shoes directly to the consumer through its own stores at discounted prices. This is an example of which type of store?A. ConvenienceB. DepartmentC. Factory outletD. Mail order52. John needed to purchase a soda as quick as possible. Which type of store would be the quickest?A. ConvenienceB. DepartmentC. Factory outletD. Mail order53. Mary decided to re-order more Casio, Epson, Nikon, and Sony cameras for her store. These cameras have received the best reviews from her customers. Where is she in the consumer decision- making process?A. Determine the effectiveness of the decisionB. Gather informationC. Recognize a need or wantD. Select and evaluate alternatives54. Mary plans to order 300 cameras for her store inventory. Where is she in the consumer decision- making process?A. Gather informationB. Make a purchaseC. Recognize a need or wantD. Select and evaluate alternatives55. Mary is debating about which four of the following cameras to purchase: Canon, Casio, Epson, Konica Minolta, Nikon, Panasonic, and Sony cameras. These cameras have better performance records. Where is she in the consumer decision-making process?A. Gather informationB. Make a purchaseC. Recognize a need or wantD. Select and evaluate alternatives56. Mary has reviewed several camera dealers’ websites, talked with other camera store operators, and surveyed potential customers about cameras. Where is she in the consumer decision-making process?A. Gather informationB. Make a purchaseC. Recognize a need or wantD. Select and evaluate alternativesPlease use the following chart for questions 57 through 58:Figure ECurrent assets54,000Current liabilities 35,000Owner's equity 6,000Net income 4,000Total assets 10,000Total expenses 4,000Total liabilities 12,000Total sales 19,00057. Using Figure E, what is the return on equity ratio for net profit to owners' equity ?A. 0.67B. 1.52C. 1.77D. 2.2558. Using Figure E, what is the debt to equity ratio for total liabilities to owners' equity ?A. 1.22B. 1.45C. 1.47D. 2.00Please use the following chart for questions 59 through 61:Figure DCurrent assets254,000Current liabilities195,000Owner's equity85,000Net income 42,000Total assets210,000Total expenses43,000Total liabilities125,000Total sales198,00059. Using Figure D, what is the net income ratio for total sales to net income?A. 2.71B. 3.71C. 4.71D. 5.7160. Using Figure D, what is the debt to equity ratio for total liabilities to owners' equity?A. 0.22B. 1.45C. 1.47D. 2.2061. Using Figure D, what is the current ratio for assets to liabilities?A. 0.83B. 1.06C. 1.30D. 2.75Please use the following chart for questions 62 through 63:Figure FFinancial Statement RatioCompany ACompany BCurrent: assets to liabilities.501.05Debt to Equity: total liabilities to owners’ equity4.206.20Return on Equity: net profit to owners' equity3.02.0Net income: total sales to net income.40.4062.Which statement is true regarding Figure F?A. Company A has a more favorable net income ratio than Company B.B. Company A has a more favorable return on equity ratio than Company B.C. Company B has a less favorable debt to equity ratio than Company A.D. Company B has a more favorable current ratio than Company A.63.Which statement is true regarding Figure F?A. Company A has a more favorable current ratio than Company B.B. Company A has a more favorable debt to equity ratio than Company B.C. Company B has a more favorable return on equity ratio than Company A.D. Company B has a more favorable net income ratio than Company A.Please use the following chart for this question.Figure CFinancial Statement RatioCompany ACompany BCurrent: assets to liabilities1.030.75Debt to Equity: total liabilities to owners’ equity6.204.40Return on Equity: net profit to owners’ equity2.01.0Net income: total sales to net income0.350.3564.Which statement is true regarding Figure C?A. Company A has a more favorable current ratio than Company B.B. Company A has a more favorable debt to equity ratio than Company B.C. Company B has a more favorable return on equity ratio than Company A.D. Company B has a more favorable net income ratio than Company A.Please use the following chart for questions 65 through 66:65. Using Figure B, what is the net income ratio for total sales to net income?A. 0.16B. 0.33C. 3.07D. 6.2566. Using Figure B, what is the debt to equity ratio for total liabilities to owners' equity?A. 0.22B. 0.45C. 1.92D. 2.2367. The Federal Reserve System aids in transferring funds between banks in North Carolina and New Jersey. This is an example of which service of the Federal Reserve System?A. ClearinghouseB. Participation in open market operationsC. Supervision of banksD. Managing the discount rate68. The Federal Reserve System supplied the monetary system with $300 billion. This is an example of which service of the Federal Reserve System?A. Acting as a clearinghouseB. Approving bank mergersC. Managing the discount rateD. Participating in open market activities69. The Federal Reserve System approved the merger of Wachovia Bank and Wells Fargo Bank. This is an example of which service of the Federal Reserve System?A. Acting as a clearinghouseB. Approving bank mergersC. Managing the discount rateD. Participating in open market activities70. James received a $100 check. He wants to endorse this check over to Steve. Which type of endorsement should James use?A. BlankB. FullC. Non-endorsementD. Restrictive71. Maria prefers an endorsement that will make sure checks are used for deposits only to her business account. Which type of endorsement is preferred?A. Blank endorsementB. Full endorsementC. Non-endorsementD. Restrictive endorsement72.Which is the FIRST step in opening a checking account?A. Completing a signature cardB. Completing a bank reconciliationC. Ordering a set of checksD. Receiving the first cancelled checkPlease use the following figure for questions 73 through 75:Figure A * (I will provide a copy of Figure A)73.Which number in Figure A refers to the drawer's account number?A. 1B. 7C. 8D. 974.Which number in Figure A refers to the routing number?A. 1B. 7C. 8D. 1075.Which number in Figure A refers to the location for the drawer's signature?A. 2B. 5C. 6D. 776.Jack is reviewing his investment portfolio to make sure it includes options that will allow him to access money immediately. Which type of evaluation factor of saving is he considering?A. LiquidityB. Potential returnC. Safety and riskD. Taxes77. Mary needs a savings plan that will allow her to access her money as cash for potential emergency needs. Which type of evaluation factor of saving is she considering?A. LiquidityB. Potential returnC. Safety and riskD. Taxes78. Mary's business has $5,000 to start a savings plan at a local bank. She is comparing the interest rates between a mutual fund and a regular savings account. Which evaluation factor of saving is Mary considering?A. LiquidityB. Potential returnC. Safety and riskD. Taxes79. Bob sells specialty guitars and hopes to exchange the guitars for a much higher value than the purchase price. Which type of investment could the guitars become?A. CollectiblesB. Commodities and futuresC. Commodity exchangesD. Gold, silver, and precious metals80. Some customers recently learned that they can exchange quilts purchased from Tyson's Antique Store over 25 years ago for higher prices than they were originally purchased. Which type of investment are the quilts?A. CollectiblesB. Commodities exchangesC. CurrencyD. Gold, silver, and precious metals81. The city government needs 1.2 million dollars to build a new medical facility. Which type of bond investment opportunity would help the city government obtain funding for the facility?A. Corporate bondB. Municipal bondC. Treasury billsD. Treasury notes82. Tim has the option of borrowing $5,000 at a 3% interest rate from a local bank. Which loan option would allow Tim to pay the LEAST amount of money?A. Option 1: loan for 6 monthsB. Option 2: loan for 12 monthsC. Option 4: loan for 18 yearsD. Option 3: loan for 24 months83. Sky Blue Credit Repair Company assists clients with spending less on debt and eliminating credit problems. With which type of credit assistance does the company provide?A. BankruptcyB. Credit counselingC. Credit repairD. Debt repayment plan84. After talking with a Sears customer representative about her overdue balance, Tina implemented a strategy that will minimize her debt. Tina used which type of credit assistance?A. BankruptcyB. Credit counselingC. Credit repairD. Debt repayment plan85. Han sued a furniture store that verified it provided inaccurate information about his credit history. Which regulation would protect him in having the information corrected?A. Consumer Credit Reporting Reform ActB. Equal Credit Opportunity ActC. Fair Credit Reporting ActD. Fair Debt Collections Act86. JCPenney makes sure all applicants are creditworthy before issuing any of them credit cards. Which regulation is JCPenney adhering?A. Consumer Credit Reporting Reform ActB. Equal Credit Opportunity ActC. Fair Credit Billing ActD. Fair Credit Reporting Act87. Mary paid only $50 for unauthorized charges made to her Capital One MasterCard. Which regulation protected her?A. Equal Credit Opportunity ActB. Fair Credit Billing ActC. Fair Credit Reporting ActD. Truth-in-Lending Law88.Which is an example of content for a credit contract?A. Repair services fee may apply statementB. June 5th due date for paymentC. $450 worth of merchandise transactionD. May 5th date of last transaction89. Chase Mortgage Company sends quarterly summaries of transactions. Which type of document does the company send?A. Business credit applicationB. Credit reportC. Personal credit applicationD. Statement of account90. Capital Bank reported John has both saving and checking accounts with its financial institution. Which factor for granting credit related to documentation is this institution's action?A. Credit applicationB. Credit bureau credit reportC. Credit dataD. Three C's of credit91. ABC Rental Company requires applicants to verify reputation for paying bills in order to determine potential credit risk. Which factor examined by creditors does the company require?A. Credit applicationB. Credit contractC. Credit reportD. Statement of account 92.What do hospital and surgical types of insurance have in common? Both are available through:A. a comprehensive policy.B. major medical insurance.C. regular medical insurance.D. state government assistance.93.What do insuring personnel and property have in common?A. Both provide coverage for cost of risks.B. Both provide coverage for day-to-day routines.C. Both provide coverage for long-term care.D. Both provide coverage for loss of investments.94. Many newspapers are experiencing fewer subscribers since more subscribers are now obtaining news from the Internet. This is an example of which type uninsurable risk?A. Business operationsB. Economic conditionsC. Local factorsD. Technology change95. GEICO Insurance Company opened several new offices to accommodate requests of policy holders for face-to-face contact. This is an example of which type uninsurable risk?A. Consumer demandB. Economic conditionsC. Local factorsD. Technology change96. Home Depot has to reorder Scott's Lawn Care seeds more often than planned due to purchases by customers. This is an example of which type of uninsurable risk?A. Consumer demandB. Economic conditionsC. Local factorsD. Technology change97. The Whole Foods Market provides workshops on how to prepare healthy meals. During the past three months, the attendance increased over 40%. This is an example of which type uninsurable risk?A. Consumer demandB. Economic conditionsC. Local factorsD. Technology change98. Cashiers can now manage several registers from a computerized station that will allow several customers to check out their groceries at one time. Which uninsurable risk is this?A. Consumer demandB. Economic conditionsC. Local factorsD. Technology change 99.Which is an example of uninsurable risks?A. FedEx covers property damaged by its drivers.B. Kroger Grocery Store has liability coverage.C. PDQ's competitors are now picking up packages from residential homes.D. Tessa is receiving compensation after being injured at work.100. Barry's Pawn Shop accepts jewelry and electronics from customers all the time. The pawn shop waits the designated time for customers to return and retrieve their items. How does the shop handle risks?A. AssumeB. AvoidC. InsureD. Transfer ................
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