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Comprehensive Exam Jam
Comprehensive Exam Jam
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Comprehensive Review
Flashcards
85 cards
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Questions
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Answers
1
A leadership style where the manager makes, sells and presents the decision is called?
Participative
Democratic
Laissez Faire
Autocratic
2
Measurability, Accessibility, and Substantialness are the criteria to assess:
Exclusive Distribution
Selective Segmentation
Intensive Distribution
Effective Segmentation
3
The Product _____ consists of Product ____.
Mix; Portfolios
Mix; Lines
Line; Mixes
4
Dr. Andrews takes away phone privileges due to many students texting during class. This is:
Punishment
Extinction
Negative Reinforcement
Positive Reinforcement
5
Debits = ????? and Credits = ?????
Does not matter
Right/Left
Does not matter as long as it balances
Left/Right
6
Porter's Five Forces Model deals with:
Degree of Corporate Responsibility
Degree of Customer Satisfaction
Degree of Competitive Rivalry
Degree of Business Longevity
7
An economic system based on limited govt. intervention and laissez faire principles?
Socialism
Communism
Globalism
Capitalism
8
Small businesses employ ____ % of all private sector employees?
50
25
65
10
9
Which of the following is not an example of an Artificial Restriction on International Trade?
Limiting Referendum
Quota
Embargo
Tariff
10
T/F: Cash raised from the issuance of stock would be considered an investing activity?
Not enough info
True
False
11
A nation's ability to produce some goods better and more efficiently than another is called?
Absolute Advantage
Comparative Advantage
Competitive Advantage
Autonomical Advantage
12
Who uses financial accounting information?
Competitors
Shareholders
Government
Management
13
A value proposition tells the target market how a product will:
Solve his/her problem
Fulfill his/her needs
Provide her/him with access to better feature
14
True/False: Shareholders are legally entitled to receive a dividend?
False
True
15
Conventional Corporations are financed primarily through?
Equity/Government Stipends
Debt/Equity
Government Incentives/Debt
Tax Cuts/Equity
16
Title 7 of the Civil Rights Act('64) outlaws all forms of discrimination except?
Age
Religion
Sex
Race
17
An employer can hire/fire an employee at any time for any reason (non-discriminatory)
Employment-at-Will Doctrine
WARN Act
Labor-Management Relations Enforcement Act
Taft-Hartley Act
18
Which accounting system provides a more accurate picture of a company's profitability?
Accrual
Cash Basis
Neither
Both
19
NAFTA is an example of?
World Trade Organization
Unified Trade Agreement
Economic Community
Common Market
20
Which of the following is not a level of Maslow's hierarchy of needs?
Esteem
Physiological
Psychological
Social
21
Which of the following is a Liquidity Ratio?
Current
Return on Sales
Asset Turnover
EPS
22
_____ focuses on long-term strategies and key goals?
Tactical Planning
Operational Planning
Contingency Planning
Strategic Planning
23
Capital Budgeting is focused on the?
Short-Term
Long-Term
24
_______ measures the economic value of output of an entire country for the year?
GDP
PPI
CPI
ROE
25
Revenues-Expenses-Cost of Goods Sold = ___
The Equation Does Not Balance
Cash Flow
Net Income
Present Value
26
Recording expenses with the revenues they generated follow which accounting principle?
Matching
Historic Cost
Time Period
Materiality
27
Products _____ value and Promotion ______ value?
Create; Communicates
Present; Promotes
Promote; Presents
Communicate; Creates
28
Max # of shareholders an S Corp can have?
Unlimited
100
150
50
29
The ____ leadership style tends to take initiative and be visionary?
Bureaucratic
Participative
Entrepreneurial
Autocratic
30
A business that is owned and operated by 1 person and has limited liability is called a?
Limited Liability Company
Limited Proprietorship
Liability Exempt Proprietorship
Sole Proprietorship
31
Directing 1 marketing mix towards 1 market is a _____ targeting approach?
Multisegmented
Concentrated
Undifferentiated
Niche
32
The ability to convert assets into cash quickly is called?
Asset Turnover
Liquidity
Functionality
Gross Profit
33
Which would be considered the least safe investment vehicle?
US Treasury Bills
AAA Bonds
Small Cap Stocks
Mutual Funds
34
Marketing is primarily concerned with _______?
v-a-l-u-e
VALUE
value
35
T/F: Debt=Loan and Equity=Ownership?
False
Not enough info
True
36
Which is not part of the Marketing Mix (4 Ps)?
Purpose
Price
Promotion
Placement
37
Adding a reward to encourage a desired behavior:
Extinction
Negative Reinforcement
Positive Reinforcement
Punishment
38
Which of the following is not a pricing strategy used by marketers?
New Product
Precautionary
Psychological
Promotional
39
The statement of financial position includes which of the following?
Notes Payable
Investing Cash Flow
This is not a financial statement covered in X100
Depreciation Expense
40
Communism is an example of which type of Economy?
Free Market
Socialist
Command
Mixed
41
Intellectual and Spiritual Fulfillment is a characteristic of which of Maslow’s levels?
Psychological
Esteem
Self-Actualization
Physiological
42
The first step in the 6-step managerial decision making process is to?
Determine if a decision needs to be made
Organize Personel
Identify the Problem
Establish Goals
43
Who appoints Corporate Officers?
Chief Executive Officer
Shareholders
Hiring Manager
Board of Directors
44
T/F: Groups are more likely to fall victim to cognitive biases?
Cognitive Biases?
True
False
45
Day-to-day planning is also called?
Strategic Planning
Contingency Planning
Tactical Planning
Operational Planning
46
Inner rites, rituals, heroes, and values of a firm make up a company's?
Business Plan
Culture
Beliefs
Structure
47
The complete and legal name of a company is called its?
Brand Name
Trademark
Copyright Name
Trade Name
48
Hygiene factors eliminate job ___ while Motivation factors increase job _____.
Satisfaction/Dissatisfaction
Dissatisfaction/Satisfaction
49
A competition based on product differentiation is called a(n)?
Monopolistic Competition
Perfect Competition
Legal Monopoly
Oligopoly
50
Secondary markets are made up of all of the following except?
NASDAQ
NYSE
IPO's
Commodities
51
Which of the following is the fastest consumer-product channel?
Services
Wholesalers
Large Retailers
Agents
52
Imports > Exports = ___________
Deficit
Equation Does Not Balance
Surplus
53
True/False: Strengths/Weaknesses are internal factors and Opportunities/Threats are external?
True
False
54
The Consumer Price Index (CPI) measures _____ in the economy?
Business Investment
Deflation
Inflation
Consumer Spending
55
Supervision, safety and salary are all _____ factors?
Maintenance
Motivation
Satisfaction
Fulfillment
56
Which account is not found on the Balance Sheet?
Inventory
Cash
Accounts Payable
Cost of Goods Sold
57
True/False: When entering Int'l business, more control usually means more financial risk?
False
True
58
Which of the following is not part of the Utility Value Theory?
Form
Price
Time
Place
59
A(n) ____ company manufactures in other countries and has direct foreign investment?
International
Domestic
Multinational
Foreign
60
An economic system focused on equitable distribution of wealth and social services is called?
Socialism
Communism
Laissez Faire
Modified Capitalism
61
Compute the breakeven quantity: Fixed Costs=$500; Var. Unit Cost=$25; Unit Sales Price=$75;
Not Enough Information
5 Units
10 Units
15
62
Assets are $100, Liabilities are $25, and Expenses are $50. What is the owner's equity?
Not enough info
75
50
25
63
Product life cycle stage with low awareness and acceptance
Decline
Pre-Growth
Growth
Introduction
64
T/F: Assets are obligations we owe to others?
True
False
65
A market/industry controlled by a select few sellers is called a(n)?
Natural Monopoly
Legal Monopoly
Oligopoly
Monopolistic Market
66
True/False: A business may incorporate in any state it chooses?
True
False
67
Which of the following is not a Profitability Ratio?
Acid Test
Return on Sales
Return on Owner's Equity
Earnings per Share
68
A high control method of entering intl. business in which a new company is formed?
Buy Out
Acquisition
Joint Venture
Franchise
69
Accrual accounting rules state we record revenue and expenses as they are?
Paid and Received
Earned and Incurred
Earned and Paid
Paid and Incurred
70
The Federal Reserve influences the economy through all of the following EXCEPT?
Reserve Requirements
Initial Public Offerings
Buying/Selling Gov. Securities
Discount (Interest) Rate
71
A company controls the ______ mix, which consists of:
Environmental: Price, Product, Place, Promotion
Marketing: Price, Product, Place, Promotion
Environmental: Price, Product, Promotion, Preference
Marketing: Price, Product, Promotion, Preference
72
An economy experiencing 2 consecutive quarters of economic contraction would be in a _________?
Trough
Conundrum
Expansion
Recession
73
Which type of middlemen does not take title of the products?
Wholesalers
Merchant Middlemen
Retailers
Functional Middlemen
74
FREE POINTS
FREE
POINTS
but don't choose this answer
75
Managers must first ______ when determining and implementing strategy for their business.
Determine Objectives
Establish Goals
Recognize Problems
Organize Personel
76
In a free enterprise system, ___ determine what to produce and ___ determine how to produce it.
Governments / Producers
Consumers / Producers
Governments / Governments
Producers / Consumers
77
Which will not be found on the income statement?
Revenue
Short Term Assets
Expenses
Cost of Goods Sold
78
A purchase of land would fall under which Cash Flow Activity?
Developing
Financing
Operating
Investing
79
Inexpensive, frequently-purchased items are what type of Consumer Products?
Convenience
Thrift
Specialty
Shopping
80
A single mix for entire target market is what type of approach?
Differentiated
Concentrated
Open
Undifferentiated
81
Which is not a fundamental business resource?
Informational
Material
Human
Financial
82
The ______ model primarily focuses on legal and economic responsibilities?
Neo-Classical
Economic
Socio-Economic
Faux-Economic
83
True/False: Companies control the marketing environment, i.e. Political, Economic, Regulatory?
False
True
84
Cash transactions associated with running the business are?
Accounting Activities
Investing Activities
Operating Activities
Financing Activites
85
The SBA provides small businesses with all of the following except?
Financial Assistance
Hiring Assistance
Training Assistance
Consulting Assistance