Question 1

________ audit the financial reports of public companies as required by law.

Accepted Answer

A)  Internal accountants 
B)  External auditors 
C)  Credit managers 
D)  Management accountants 
E)  Forensic accountants 
A)  Internal accountants 
B)  External auditors 
C)  Credit managers 
D)  Management accountants 
E)  Forensic accountants

Question 2

Etiquette is the quality of performing your job to the best of your ability and conducting yourself with purpose and pride.

Accepted Answer

A) True 
 B)False

Question 3

If individuals and companies believe they can pursue rewards without facing the risks that should be attached to those pursuits,they are more likely to engage in irresponsible and even unethical behavior.This situation is known as a(n)________.

Accepted Answer

A)  ethical dilemma 
B)  professionalism 
C)  barrier to entry 
D)  technological environment 
E)  moral hazard 
A)  ethical dilemma 
B)  professionalism 
C)  barrier to entry 
D)  technological environment 
E)  moral hazard

Question 4

Compare and contrast the perspective of a business professional with that of a consumer.

Accepted Answer

Consumer experiences include the impact

Question 5

Chicago Cinema Museum houses a unique collection of artifacts,memorabilia,and equipment that preserves the history and grandeur of cinema.It is funded by the government of the United States.The museum administrators apply many of the business-management principles to operate efficiently and effectively.The museum is most likely to be a ________.

Accepted Answer

A)  business intermediary 
B)  nonprofit organization 
C)  service business 
D)  government-owned corporation 
E)  goods-producing business 
A)  business intermediary 
B)  nonprofit organization 
C)  service business 
D)  government-owned corporation 
E)  goods-producing business

Question 6

R&D fuels new ideas and designs for the company's products and services that allow it to meet customer needs in competitive markets.

Accepted Answer

A) True 
 B)False

Question 7

________ refers to a company's target customers,the buying influences that shape the behavior of those customers,and competitors that market similar products to those customers.

Accepted Answer

A)  Regulatory environment 
B)  Social environment 
C)  Economic environment 
D)  Market environment 
E)  Technological environment 
A)  Regulatory environment 
B)  Social environment 
C)  Economic environment 
D)  Market environment 
E)  Technological environment

Question 8

Describe the six major functional areas in a business enterprise.

Accepted Answer

The six major functional areas in a busi

Question 9

Assets refer to the tangible economic resources owned by a firm.

Accepted Answer

A) True 
 B)False

Question 10

________ refers to forces resulting from the practical application of science to innovations,products,and processes.

Accepted Answer

A)  Social trends 
B)  Research and development 
C)  Barriers to entry 
D)  Technological environment 
E)  Business mindset 
A)  Social trends 
B)  Research and development 
C)  Barriers to entry 
D)  Technological environment 
E)  Business mindset

Question 11

Discuss the positive and negative role of business in society.

Accepted Answer

A business professional needs to recogni

Question 12

A U.S.multinational retailer corporation wants to set up a chain of large discount department stores in a developing nation.However,it is hindered by strict licensing procedures and bureaucratic delays in obtaining government approvals.In this example,the multinational corporation faces ________.

Accepted Answer

A)  incumbent inertia 
B)  economies of scale 
C)  first-mover disadvantage 
D)  free-rider effects 
E)  barriers to entry 
A)  incumbent inertia 
B)  economies of scale 
C)  first-mover disadvantage 
D)  free-rider effects 
E)  barriers to entry

Question 13

The expected norms of behavior in a particular situation are referred to as ________.

Accepted Answer

A)  etiquette 
B)  dependability 
C)  expectancy 
D)  energy 
E)  accountability 
A)  etiquette 
B)  dependability 
C)  expectancy 
D)  energy 
E)  accountability

Question 14

Which of the following is an example of bad etiquette?

Accepted Answer

A)  Daniel indulged in excessive drinking during a company dinner. 
B)  Alice was forced to take leave without prior notice due to a family emergency. 
C)  Seth does not hesitate to express clearly what he expects from the interns working under him. 
D)  Lisa, being a vegan, avoided having meat and milk-based dishes during a meeting with a client. 
E)  Jason, an American who is about to go to a client's office in Japan, refers to a travel guidebook to gather knowledge about the norms and customs prevalent in Japan. 
A)  Daniel indulged in excessive drinking during a company dinner. 
B)  Alice was forced to take leave without prior notice due to a family emergency. 
C)  Seth does not hesitate to express clearly what he expects from the interns working under him. 
D)  Lisa, being a vegan, avoided having meat and milk-based dishes during a meeting with a client. 
E)  Jason, an American who is about to go to a client's office in Japan, refers to a travel guidebook to gather knowledge about the norms and customs prevalent in Japan.

Question 15

All internal and external groups affected by a company's activities are referred to as its ________.

Accepted Answer

A)  shareholders 
B)  customers 
C)  stakeholders 
D)  employees 
E)  suppliers 
A)  shareholders 
B)  customers 
C)  stakeholders 
D)  employees 
E)  suppliers

________ audit the financial reports of public companies as required by law.

Etiquette is the quality of performing your job to the best of your ability and conducting yourself with purpose and pride.

If individuals and companies believe they can pursue rewards without facing the risks that should be attached to those pursuits,they are more likely to engage in irresponsible and even unethical behavior.This situation is known as a(n)________.

Compare and contrast the perspective of a business professional with that of a consumer.

R&D fuels new ideas and designs for the company's products and services that allow it to meet customer needs in competitive markets.

________ refers to a company's target customers,the buying influences that shape the behavior of those customers,and competitors that market similar products to those customers.

Describe the six major functional areas in a business enterprise.

Assets refer to the tangible economic resources owned by a firm.

________ refers to forces resulting from the practical application of science to innovations,products,and processes.

Discuss the positive and negative role of business in society.

A U.S.multinational retailer corporation wants to set up a chain of large discount department stores in a developing nation.However,it is hindered by strict licensing procedures and bureaucratic delays in obtaining government approvals.In this example,the multinational corporation faces ________.

The expected norms of behavior in a particular situation are referred to as ________.

Which of the following is an example of bad etiquette?

All internal and external groups affected by a company's activities are referred to as its ________.

Understanding Basic Economics

The Global Marketplace

Business Ethics and Corporate Social Responsibility

Forms of Ownership

Entrepreneurship and Small Business Ownership

Management Roles, Functions, and Skills

Organization and Teamwork

Production Systems

Employee Motivation

Human Resources Management

Labor Relations

The Art and Science of Marketing

Product and Pricing Strategies

Distribution and Marketing Logistics

Customer Communication

Financial Information and Accounting Concepts

Financial Management

Financial Markets and Investment Strategies

The Money Supply and Banking Systems

Filters

Exam 1: Developing a Business Mindset

________ audit the financial reports of public companies as required by law.

Etiquette is the quality of performing your job to the best of your ability and conducting yourself with purpose and pride.

If individuals and companies believe they can pursue rewards without facing the risks that should be attached to those pursuits,they are more likely to engage in irresponsible and even unethical behavior.This situation is known as a(n)________.

Compare and contrast the perspective of a business professional with that of a consumer.

R&D fuels new ideas and designs for the company's products and services that allow it to meet customer needs in competitive markets.

________ refers to a company's target customers,the buying influences that shape the behavior of those customers,and competitors that market similar products to those customers.

Describe the six major functional areas in a business enterprise.

Assets refer to the tangible economic resources owned by a firm.

________ refers to forces resulting from the practical application of science to innovations,products,and processes.

Discuss the positive and negative role of business in society.

A U.S.multinational retailer corporation wants to set up a chain of large discount department stores in a developing nation.However,it is hindered by strict licensing procedures and bureaucratic delays in obtaining government approvals.In this example,the multinational corporation faces ________.

The expected norms of behavior in a particular situation are referred to as ________.

Which of the following is an example of bad etiquette?

All internal and external groups affected by a company's activities are referred to as its ________.

Understanding Basic Economics

The Global Marketplace

Business Ethics and Corporate Social Responsibility

Forms of Ownership

Entrepreneurship and Small Business Ownership

Management Roles, Functions, and Skills

Organization and Teamwork

Production Systems

Employee Motivation

Human Resources Management

Labor Relations

The Art and Science of Marketing

Product and Pricing Strategies

Distribution and Marketing Logistics

Customer Communication

Financial Information and Accounting Concepts

Financial Management

Financial Markets and Investment Strategies

The Money Supply and Banking Systems

Filters