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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
An agenda is?
A list of items a company need to order to replenish supplies.
AA list of attendees at a past meeting.
A summary of the financial requirements of the firm.
A list of topics to be covered at the next meeting.
2
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
3
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.
4
Select the form of business in which there is unlimited personal legal liability from lawsuits related to the business.
partnership only
corporation only
sole proprietorship only
choices A and B
5
What is the name of your Virtual Enterprises Firm?
Not Trending
Now Trending
BJ's Warehouse
Costco
6
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.
7
An employee's income tax withholdings are based on earnings, exemptions and
social security payments
company bonuses
contributions to 401(k) or pension plans
Medicare payments
8
Select the statement below that best represents the purpose of an Acceptable Use Policy.
Provides select employees with access to hosting company’s social media.
Provides guidelines for etiquette and use of company-owned technology.
Expresses in writing a set of rules created and enforced by a company.
Ensures no unlawful, inappropriate content is included on company’s website
9
Have you put forth enough effort, including attendance and participation, in this class this semester?
True
False
10
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.
Invoice templates are available, formulas in template files can't changed.
A template contains formatting, text you can customize, create a new file
11
Which step in the D4D Design Thinking process includes brainstorming potential solutions to an identified problem?
None of the Above
Go Broad to Go Narrow
Deep Customer Empathy
Rapid Experimentation
12
Which of the following are NOT considered to be a cloud service:
Google Drive
Microsoft OneDrive
Dropbox
Microsoft Office
13
Which of the choices below represents effective business writing techniques?
Clarity and conciseness
Friendliness and personable
Clarity and friendliness
Conciseness and personable
14
A business plan is important for a new business for all of the following reasons except:
it guarantees you will get financing for your business
it makes you think about all aspects of your business
it can serve s a tool for managing your business
it can help you communicate your ideas to others
15
Choose the statement about taxation that is true.
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
The standard deduction amount is the same for all taxpayers.
16
Social responsibility is the duty of the business to do what?
contribute to product development
provide social activities for employees
contribute to the well being of society
provide educational loans to employees
17
A break-even analysis is important because it
enables a company to determine fixed and variable costs.
enables a company to determine product sales revenue meet total 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.
18
Companies prepare annual reports
as an optional exercise, if the firm sells stock to the public.
because it is required by the Securities and Exchange Commission.
as optional exercise, if firm has prepared business plan in fiscal year.
to provide information to investors, creditors and employees of the firm.
19
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.
a table of authorities.
footnotes and a bibliography.
20
SWOT Analysis is an effective way of identifying a company's strengths, weaknesses, opportunities, threats.
False
True
21
Which of the following is a benefit to companies carrying business insurance?
The insurance allows the company to take more business trips.
The insurance provides employees with insurance discounts.
The insurance insures the company will make a profit.
The insurance reduces the company's liability.
22
The income statement
summarizes firm's revenues and expenses shows profit over a period of time.
can be substituted for the cash flow statement when reporting income.
is a report of the total dollar amount of a company's sales.
Used to determine the amount left after deducting sales discounts, returns.
23
Which one of the following is an acceptable prototype?
Lego model
Storyboard
All of the above
Hand drawing
24
The activity promoting goods and services is part of?
purchasing
distributing
merchandising
marketing
25
Which of the following forms of business can issue stock to raise money?
corporation
partnership
sole proprietorship
franchise
26
How do you expect to score in this class?
A
D
B
C
27
Which of the following is a true statement about a personal budget?
A personal budget is ineffective way for people to know what they spend
A personal budget provides an early warning system that helps
A personal budget will guarantee that individuals live within their income
A personal budget can only be prepared by a CPA
28
Which one of the rules below DOES NOT describes a rule of effective management?
Set the goal of working as a team
Focus on clarity, accuracy and thoroughness in communication
Do not encourage all opinions which can lead to tension among employees
Publicly reward and recognize hard work
29
If you open any document type as “read only,” you can
make changes to it.
change the date and time only.
view it, but not modify it.
make formatting changes only.
30
Which one of the following statements is NOT TRUE about Design Thinking:
A human-centered, iterative process to problem solving
Enables companies to use designers to think through solutions to problems
Helps companies identify potential solutions to problems,
Focuses on human needs and behaviors to help translate observations
31
How do you expect to score on this final exam?
C
A
D
B
32
Budgets can be a useful tool for company managers when
amounts budgeted are always in anticipation of the “best-case scenarios.”
the budget is prepared only under conditions of perfect certainty.
budgets can only be used for tax preparation purposes.
(b) amounts are compared to actual amounts, find strengths and weaknesses.
33
Which of the following defines why an organization exists and what it seeks to accomplish?
an executive summary
an organization chart
a break-even analysis
a mission statement
34
“Deep Customer Empathy,” one of the steps in the Design Thinking process, is used to:
capture customer data for marketing purposes
understand people and their pain points to identify their needs and desires
Both B and C
interview potential customers about their likes, dislikes about a product
35
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.
36
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.
37
The federal income tax is generally recognized to be a
proportional tax everyone with the same taxable income pays the same tax.
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.
regressive tax because the amount that poor people pay is more important.
38
When writing a professional business letter, the following choices identifies words that should be capitalized EXCEPT
names of organizations
personal and official titles
names of commercial products
names of the seasons
39
Which department collects information about the employees attendance, and benefit issues relating to the employee?
Accounting
Marketing
Sales
Human Resources
40
Which of the following statements about a sales invoice is incorrect?
Must be signed by the customer in order for it to be legally enforceable.
It should include the name, address, contact information of the customer.
The amount determines whether it needs to be signed by the customer.
It should include the name, address and contact information of the vendor.
