The best example of sustainable development would be

using recycled materials to build housing

During the depression, there is

high unemployment and low production of goods and services

Which statement is true?

Different industries have different ethical standards.

In market economy, producers set a price that...

will cover their costs and result in profit

Cooperatives were formed to

save money on purchase of certain goods and services

Which statement is most true?

Some men and women get equal pay for equal work, most dont

Nonprofit organizations

focus on providing services rather than making a profit

The following are examples of conflicts of interest except

business hiring an accounting firm to oversee record-keeping

highly skilled workers ean the same as low-skilled workers

An examples of an ethical business practice would be

keeping accurate financial records

When developing a product or service, a business must do all of the following except...

create a need for the product or service

Unethical treatment of employees included all of the following except

rewarding good employees with salary incentives

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Principles of Business, Marketing and Finance - Semester 1 MC

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Answers

1
A vision statement
expresses the specific aspirations of the company
explains why the venture will succeed
includes the major goals that the company will try to reach
establishes the scope and the purpose of the company
2
A dividend is
a tax paid by stockholders
the money lost on a share of stock
the cost of a share of stock
the money made as a result of owing a share of stock
3
The best example of sustainable development would be
manufacturing a new type of SUV
using recycled materials to build housing
developing a new way to burn coal
drilling for oil in the ocean
4
The company description section of a business plan helps investors understand
the scope of the business
the type of business
all of the above
the size of the business
5
Recover is marked by...
all of the above
increase in production
people going back to work
more money to purchase goods and services
6
During the depression, there is
high unemployment and low production of goods and services
low unemployment and high production of goods and services
high unemployment and high production of goods and services
low unemployment and low production of goods and services
7
An effective manager is one who
is a team player
understands employee law
started as an entry-level employee
has the ability to lead
8
Most businesses are committed to
all of the above
provide safe products
being truthful about their financial situation
treating employees fairly
9
Keeping inaccurate accounting records is
unethical and illegal
a good business practice
unethical and legal
deceptive and illegal
10
Which statement is true?
Whatever it takes to wim is a good business practice
Bribery is considered ethical practice in some US companies
Different industries have different ethical standards.
All bsinesses have the same ethical standars
11
Most manager's day is spent
working on a computer
training entry-level employees
interacting with people
writing the business corespondence
12
Bribery occurs when gifts, money or favors are offered
instead of paying taxes
to encourage business deal
in lieu of wages
as bonuses to managers
13
One of the biggest obstetrical in starting a business is...
having a good idea
obtaining finances
accepting responsibility
being good at something
14
In market economy, producers set a price that...
the government will allow
will cover their costs and result in profit
consumers are willing to pay
consumers can afford
15
The recover of the Great Depression was helped by
World War II
innovation
increase demand
World War III
16
Cooperatives were formed to
help people cooperate
sell more products
save money on purchase of certain goods and services
promote each other
17
Which statement is most true?
Women deserve more pay than men
Men and women receive equal pay for equal work
Some men and women get equal pay for equal work, most dont
Men deserve higher pay than women
18
Nonprofit organizations
must still pay taxes
outnumber sole proprietorships in the US
do not register with the government
focus on providing services rather than making a profit
19
The following are examples of conflicts of interest except
business hiring an accounting firm to oversee record-keeping
judge hearing a case defended by his former law-firm partner
principle hiring her husband to teach her school
elected official awarding a contract to his business partner
20
in a command economy
highly skilled workers earn less than low-skilled workers
highly skilled workers are not needed
highly skilled workers earn more than low-skilled workers
highly skilled workers ean the same as low-skilled workers
21
One disadvantage that corporations face is...
environmental laws
the cost of raw materials
competition
double taxation
22
Most nations have...
pure command economy
modern command economy
pure market economy
mixed economy
23
Consumers usually deal directly with
distributors
retailers
wholesalers
manufacturers
24
An examples of an ethical business practice would be
keeping accurate financial records
requiring employees to work on the holidays
not playing overtime to workers
false advertising
25
Economic indicators measure
all of the above
how much a country is providing
whether its economy is growing
how the country compares to others
26
Market research provides information that can help a business...
all of the above
resopnd to market goods and services
evaluate demand
identify oppotunities
27
All of the following are recommended traits for the career in entrepreneurship except being
a risk-taker
goal-oriented
cost-conscious
enthusiastic
28
Day-today supervision of employees is handles by
middle managers
top-level managers
union manager
operational managers
29
When developing a product or service, a business must do all of the following except...
evaluate the demand for the product or service
keep records to satisfy government requirements
create a need for the product or service
obtain start-up and operating capital
30
For businesses to stay successful, they must offer...
outstanding service
quality products
all of the above
competitive
31
All of the following are resources except...
transportation
labor
fuel
money
32
An example of a franchise is
a McDonald's resturant
a Sears department store
"mom and pop" grocery store
a Wal-Mart superstore
33
A written description of a business venture that describes all aspects of a business is called
a business plan
a company charter
a company policy
an executive summary
34
All of the following are factors of production except
capital recources
educational recources
natural resources
labor recources
35
Some of the firms limit the damage they do to the environment by
any of the above
installing filtration systems to reduce air pollutants
using renewable energy sources
using recycled or recyclable paper
36
To avoid failure, a business can modify...
its business practices
all of the above
its product
its service
37
Leading means
being the first in line
providing direction and vision
telling subordinates what to do
make sure everyone is following you
38
All of the following are examples of an industry except
finical service firms
auto mechanics
medical supply compnaies
food service businesses
39
The line and staff authority structure can lead to
more efficient production
more sales
lower costs
overstaffing
40
Unethical treatment of employees included all of the following except
rewarding good employees with salary incentives
inadequately compensating employees
establishing maternity leave policy
treating employees unfairly
41
An advantage of a partnership is
all of the above
the banks are often more willing to lend money
that the partners often bring different skills and talents
that the partners make decisions together
42
During recovery,
money is sacrce
unemployment is nonexistent
production starts to increase
GDP is stagnant
43
Processed goods include all of the following except
gasoline
organic vegitables
steel
white sugar
44
All of the following involve offering services except
tourism
sports and entertainment
banking
DVDs
45
The Federal Reserve is a government agency that guides the economy by
all of the above
control intrest rates
controlling the amount of money loaned
regulation the amount of money in circulation
46
The Triangle Shirtwaist Factory fire resulted in
improved working conditions
longer work hours
better product design
increased immigrant labor
47
Most people enter the job market as a(n)
top-level manager
entry-level employee
middle manager
operational manager
48
During the early 1600s, the U.S. economy was
information-based
service-based
industry-based
agricultural-based
49
A most important skill needed by managers is the ability to
give orders
predict the future
multi-task
be creative
50
A business plan is used by
potential investors to see if they want to invest
all of the above
top managment involved in the start-up of a new business
the entrepreneur to keep focused on the goals

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