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Entrepreneurship & Global Business Final Final S1 Review (D) Flashcards | StudBud
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Entrepreneurship & Global Business Final Final S1 Review (D)
Entrepreneurship & Global Business Final Final S1 Review (D)
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1
Which one of the following statements is NOT TRUE about Design Thinking:
Helps companies identify potential solutions to problems,
Focuses on human needs and behaviors to help translate observations
A human-centered, iterative process to problem solving
Enables companies to use designers to think through solutions to problems
2
Choose from A through D below to identify the correct statement about the time value of money.
Present Value is not relevant to investments.
The PV of an investment is the total amount future payments are worth now.
PV of an investment can't be determined without risk tolerance.
PV of an investment cannot be determined without calculating inflation.
3
Which of the following are NOT considered to be a cloud service:
Microsoft Office
Microsoft OneDrive
Dropbox
Google Drive
4
Companies prepare annual reports
as optional exercise, if firm has prepared business plan in fiscal year.
as an optional exercise, if the firm sells stock to the public.
because it is required by the Securities and Exchange Commission.
to provide information to investors, creditors and employees of the firm.
5
How do you expect to score on this final exam?
D
C
B
A
6
Which of the following statements is NOT TRUE as it relates to a company’s use of social media for marketing:
Companies cannot obtain your personal information social media.
Social media allows a firm to target a certain customer base.
Social media analytics allows a company to connect customer engagement.
Social media accounts, posts, branding supports company’s business goals.
7
Have you put forth enough effort, including attendance and participation, in this class this semester?
True
False
8
Which department collects information about the employees attendance, and benefit issues relating to the employee?
Accounting
Sales
Marketing
Human Resources
9
An agenda is?
AA list of attendees at a past meeting.
A list of items a company need to order to replenish supplies.
A list of topics to be covered at the next meeting.
A summary of the financial requirements of the firm.
10
The income statement
Used to determine the amount left after deducting sales discounts, returns.
can be substituted for the cash flow statement when reporting income.
summarizes firm's revenues and expenses shows profit over a period of time.
is a report of the total dollar amount of a company's sales.
11
Select the form of business in which there is unlimited personal legal liability from lawsuits related to the business.
sole proprietorship only
choices A and B
corporation only
partnership only
12
Each of the following situations are examples of business risk, except
Losses due to a declining reputation, dishonesty, disrespect.
taking out a loan for starting your business.
the breakdown or theft of key equipment, insufficient or failed processes.
natural disasters.
13
Which one of the following is NOT the best way to motivate an employee?
Offer employee rewards
Be a respectful, honest and supportive manager
Share positive feedback
Allow only some employees to work from home
14
SWOT Analysis is an effective way of identifying a company's strengths, weaknesses, opportunities, threats.
True
False
15
Which one of the following is an acceptable prototype?
Lego model
All of the above
Hand drawing
Storyboard
16
Which of the following forms of business can issue stock to raise money?
sole proprietorship
corporation
partnership
franchise
17
Which of the following is considered a benefit of investing in a 401(k) plan?
Personal investments have no effect on taxable income.
Employees can withdraw money at any time without penalty.
Money accumulated in a 401(k) is always free from taxation.
Employers may opt to match an employee's retirement investment.
18
Budgets can be a useful tool for company managers when
(b) amounts are compared to actual amounts, find strengths and weaknesses.
amounts budgeted are always in anticipation of the “best-case scenarios.”
budgets can only be used for tax preparation purposes.
the budget is prepared only under conditions of perfect certainty.
19
“Deep Customer Empathy,” one of the steps in the Design Thinking process, is used to:
interview potential customers about their likes, dislikes about a product
understand people and their pain points to identify their needs and desires
capture customer data for marketing purposes
Both B and C
20
A business plan is important for a new business for all of the following reasons except:
it can help you communicate your ideas to others
it makes you think about all aspects of your business
it can serve s a tool for managing your business
it guarantees you will get financing for your business
21
Which of the choices below represents effective business writing techniques?
Conciseness and personable
Clarity and friendliness
Friendliness and personable
Clarity and conciseness
22
Social responsibility is the duty of the business to do what?
contribute to the well being of society
contribute to product development
provide educational loans to employees
provide social activities for employees
23
If you were creating a report in Word that included sources used, quoted or paraphrased, you would need to include
a table of figures.
a bibliography.
footnotes and a bibliography.
a table of authorities.
24
Which of the following is a true statement about a personal budget?
A personal budget will guarantee that individuals live within their income
A personal budget can only be prepared by a CPA
A personal budget is ineffective way for people to know what they spend
A personal budget provides an early warning system that helps
25
When writing a professional business letter, the following choices identifies words that should be capitalized EXCEPT
names of commercial products
names of the seasons
names of organizations
personal and official titles
26
If you open any document type as “read only,” you can
change the date and time only.
make changes to it.
make formatting changes only.
view it, but not modify it.
27
How do you expect to score in this class?
D
C
B
A
28
Choose the statement about taxation that is true.
The standard deduction amount is the same for all taxpayers.
The amount of federal tax withheld is based on each individual employee.
Employees can decide to have Social Security, Medicare payments withheld
Students are exempt from federal income tax not required federal tax return
29
The activity promoting goods and services is part of?
distributing
merchandising
purchasing
marketing
30
Which of the following is a benefit to companies carrying business insurance?
The insurance allows the company to take more business trips.
The insurance reduces the company's liability.
The insurance insures the company will make a profit.
The insurance provides employees with insurance discounts.
31
Select the statement about templates that is true.
Templates can be are only in word or spreadsheets, not in presentations.
A template can be useful as a model, but any changes made cannot be saved.
A template contains formatting, text you can customize, create a new file
Invoice templates are available, formulas in template files can't changed.
32
Select the statement below that best represents the purpose of an Acceptable Use Policy.
Ensures no unlawful, inappropriate content is included on company’s website
Provides select employees with access to hosting company’s social media.
Expresses in writing a set of rules created and enforced by a company.
Provides guidelines for etiquette and use of company-owned technology.
33
The federal income tax is generally recognized to be a
regressive tax because the amount that poor people pay is more important.
progressive because as TI grows, AP increases and the % they pay stays same
progressive because as TI grows, AP increases and the % they pay increases.
proportional tax everyone with the same taxable income pays the same tax.
34
Which of the following defines why an organization exists and what it seeks to accomplish?
an executive summary
a mission statement
an organization chart
a break-even analysis
35
A break-even analysis is important because it
enables a company to determine fixed and variable costs.
determines how many units of a product, sales revenue exceed total costs.
allows a company to determine sales revenue based only on variable costs.
enables a company to determine product sales revenue meet total costs.
36
Which step in the D4D Design Thinking process includes brainstorming potential solutions to an identified problem?
Rapid Experimentation
Go Broad to Go Narrow
None of the Above
Deep Customer Empathy
37
Which of the following statements about a sales invoice is incorrect?
It should include the name, address, contact information of the customer.
The amount determines whether it needs to be signed by the customer.
Must be signed by the customer in order for it to be legally enforceable.
It should include the name, address and contact information of the vendor.
38
What is the name of your Virtual Enterprises Firm?
Costco
Not Trending
BJ's Warehouse
Now Trending
39
An employee's income tax withholdings are based on earnings, exemptions and
Medicare payments
social security payments
contributions to 401(k) or pension plans
company bonuses
40
Which one of the rules below DOES NOT describes a rule of effective management?
Focus on clarity, accuracy and thoroughness in communication
Set the goal of working as a team
Do not encourage all opinions which can lead to tension among employees
Publicly reward and recognize hard work
