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BA 101 Final Exam Review Flashcards | StudBud
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BA 101 Final Exam Review
BA 101 Final Exam Review
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1
Which distribution channel provides the least amount of profit margin on a per unit basis?
There will be no difference in margin, only volume
Selling through Wholesales
Selling Directly to Consumers
Selling through Retailers
2
Unions use all of the following EXCEPT:
Picketing
Lockout
Strike
Boycotting
3
A manager with ____ skills has the ability to deal effectively with people inside and outside the organization.
Functional
Diagnostic
Conceptual
Interpersonal
4
Which is the most common and riskiest option for starting a business?
Starting from scratch
Buying an existing business
Creating a joint venture
Purchasing a franchise
5
Which of the following, when tracked over time, is the best indicator of inflation?
Equilibrium Price
Gross Domestic Product (GDP)
Unemployment Rate
Consumer Price Index (CPI)
6
A corporation organized to provide a social, educational, religious, or other non-business service is known as a:
Authority
Merger
Quasi-government corporation
Not-for-profit corporation
7
This statement tells the user where cash came from (inflows) and where cash went (outflows):
Statement of Equity
Income Statement
Balance Sheet
Statement of Cash Flows
8
The balance sheet is composed of ________.
Expenses, revenue, and net income
Owners' equity, assets, and liabilities
Assets, expenses, and net income
Revenue, expenses, and owners' equity
9
Which parts of a SWOT analysis address the external environment?
Strengths and Opportunities
Strengths and Weaknesses
Threats and Opportunities
Threats and Weaknesses
10
A tech is paid for the hours billed, versus the hours they are on the time clock. This is known as what type of pay?
Commisions
Piecework
Bonus
Salary
11
When an employee receives a percentage of their sales as their compensation, this is most closely associated with:
Bonus
Piecework
Salary
Commisions
12
Which of the following is not considered a psychological influence?
Personality
Reference group
Learning
Motivation
13
The form of business organization that accounts for 82% of all sales revenues in the United States is the:
Sole proprietorship
LLC
Corporation
Partnership
14
A choice between competing and often conflicting options which do not satisfy all stakeholders is considered to be:
A choice of legal options
A conflict of interest
A decision considering the legalities of minimum choice and reflection
An ethical dilemma
15
The business form that has the least amount of personal liability for owners is:
C-Corp
Partnership
Sole proprietor
Limited partnership
16
_______________ involves dividing a market according to such variables as climate, region, and population density.
Topographical market
Regional market
Land-based market
Geographic segmentation
17
Debts owed by a business are called ________.
Liabilities
Expenses
Assets
Equities
18
Resources that a firm owns are called ________.
Revenue
Owners' equity
Assets
Liabilities
19
Transformational leaders do all of the following EXCEPT:
Exercise their authority based on their rank in the organization
Encourage people to approach problems from new perspectives
Provide employees with challenging opportunities
Mentor and develop subordinates
20
Which of these is NOT reported on an Income Statement?
Expenses
Revenues
Costs of Goods Sold
Liabilities
21
What are the 4 P's included in the Marketing Mix?
Product, People, Price, Promotion
Price, Product, Promotion, Person
Place, Price, Product, Promotion
Place, Partner, Promotion, Person
22
Market where numerous sellers sell a standardized product to many buyers and no individual seller can influence prices:
Monopoly
Monopolistic competition
Perfect competition
Oligopoly
23
Toyota, Lexus, and Scion are examples of:
Generic branding
Private branding
Manufacturer branding
Retail branding
24
Which of the following is NOT considered a functional area of business:
Customers
Finance
Operations
Marketing
25
A buyer who wants a product for personal use would be identified as which type of market?
Consumer
Demographic
Geographic
Industrial
26
What document identifies the goals of your proposed business and explains how these goals will be achieved?
Marketing pitch
Marketing plan
Business pitch
Business plan
27
Which of the following is NOT an advantage of business ownership?
Lifestyle
Independence
Creative freedom
Time commitment
28
What are the two ends of the continuum of economic systems?
Trade deficit; Trade surplus
Communism; Pure Competition
Small GDP; Large GDP
Goods-oriented; Service-oriented
29
Unsecured debt is debt for which there is no _________________.
Credit rating
Collateral
Formal agreement
Interest
30
A SWOT analysis focuses on all of the following for an organization EXCEPT:
Threats
Strengths
Weaknesses
Objectives