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BA 101 Midterm 1 UO Flashcards | StudBud
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BA 101 Midterm 1 UO
Management Skills don't Include
NOT a requirements for competition of business
BA 101 Midterm 1 UO
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Questions
40
Answers
1
NOT a requirements for competition of business
Right to Monopolize
Private property
Right to keep profits
Freedom of choice
2
Management Skills don't Include
Data Input
Conceptual
Human Relations
Technical
3
The Best BA 101 Professor
Dave Duseau
David Duseau
Dave Dusseau
Dave Dussau
4
Large # of sellers produce very similar products that buyers nevertheless perceive different
Monopolistic competition
Oligopoly
Perfect competition
Monopoly
5
Items that can or will be converted into cash within one year
Fixed assets
Current assets
Tangible assets
Intangible assets
6
General rise in the prices of goods and services over time
Deflation
Inflation
7
Consists of monthly statistics that measure the pace of inflation or deflation
National Debt
Consumer price index
Monetary Policy
Fiscal Policy
8
Favorable balance of trade
Trade surplus
Absolute advantage
Free Trade
Trade deficit
9
Which is not part of the Management Process
Operating
Organizing
Controlling
Financing
10
Which is a snapshot at a certain period of time? (Financial Statement)
Balance Sheet
Income statement
Statement of cash flows
11
Leaders must not
Communicate a vision
Establish corporate values
Reject Change
Stress accountability and responsibility
12
How many SCUs are required to produce one Mountain Bike?
.2
.5
2
.25
13
Limits the number of products in certain categories a nation can import
Import Quota
Embargo
Tariffs
14
Which is an area of management
Human Resources
Finance
Marketing
Production
15
What doesn't complete the sentence: Success in the market___
Is institutionalized
Is industrialized
Is institutionalized
Is imitated
16
What would cause you to have Closing Inventory in Stock from a previous year?
Your Sales Forecast was > your Production Quantity decision
When you have Lost Sales
Your Sales Volume was > your competitor’s Sales Volume
Your Production Quantity was > Actual Units Sold
17
Reviewing and evaluating the information used to prepare a company’s financial statements
Reporting
Accounting
Auditing
Taxing
18
Total value of final goods and services produced in a country in a given year
Total Income
Gross Profit
GDP
GPA
19
What are the market segments described in
Tutorial Video 1: Overview of MikesBikes
?
Mountain, Racer, Hybrid
Mountain, Youth, Leisure
Mountain, Road, Youth
Mountain, Kids, Commuter
20
Which is not part of the accounting system
Inputs
Analyzing
Processing
Outputs
21
General managers and Divsional managers
Middle management
Top Management
Supervisory Management
22
Assumes own culture is best and doesnt change for other countries
Naïve immoralist
Righteous moralist
Cultural relativism
23
Often most successful leadership style
Democratic
Autocratic
Free-Reign
24
Any activity that seeks to provide goods and services to others while operating at a profit.
Company
Dallas Cowboys Suck
Corporation
Business
25
Is your MikesBikes company a Retail Company or a Manufacturing Company?
Retail Company
Manufacturing Company
26
Joint Venture Benefits
Get entry into markets that require goods locally produced
Share technology and risk
Cowboys Suck
Share marketing and management expertise
27
Legally binding contract of what the business owes to others
Liabilities
Balance Sheet
Owner’s equity
Assets
28
Shareholder Value (SHV) is largely determined by what?
Retail Price
Marketing Mix
Sales Volume
Profitability
29
Exists when there are many sellers in a market and none is large enough to dictate the price
Monopoly
Oligopoly
Monopolistic competition
Perfect competition
30
Not a Characteristic of Culture
Learned through membership
Influences attitudes and behaviors of group member
System of values and norms that prescribe correct behavior
Doesn't Change over Time
31
Mission Statement doesn't address which of the following
Customer needs
Self-Concept
Financial Info
Philosophy
32
What benefit does Corporate Branding have on your individual products?
Boosts the PR Index for all of your products
Boosts the effectiveness of Internet Advertising
Increases sales revenue from repeat customers
Boosts the Awareness Index for all of your products
33
Least Risk for Foreign Investment
Strategic Alliance
Franchising
Foreign Direct Investment (FDI)
Licensing
34
Someone with a good idea for a business sells others the rights to use the business name
Contract manufacturing
Licensing
Franchising
Dumping
35
Management of the money supply and interest rates by the federal reserve bank
Fiscal Policy
Monetary Policy
36
What is the first step of the Accounting Cycle
Analyze source documents
Take a trial balance
Record transactions in journals
Transfer (post) journal entries to ledger
37
Profit Formula
Revenue-Loss
Revenue-Income
Revenue-Expenses
Revenue-Risk
38
What is the main goal in MikesBikes?
Generate more shareholder value than your competitor
Sell more products than your competitor
Launch new products into emerging markets
Create the largest marketing contribution in your industry
39
Factors of production doesn't include
patent
knowledge
capital
entrepreneurship
40
Which index would we review the effectiveness of our Advertising decisions from last year?
Distribution Index
PR Index
Quality Index
Awareness Index
