Question 1

What is the accounting concept of inventory turnover as developed by Sears in the late 19ᵗʰ century?

Accepted Answer

A) To systemize and circulate credit information 
B) To manage the requirements of operating efficiencies 
C) To publicly disclose the details of a firm's operations 
D) To present the payment of dividends out of profits 
E) To link profits to fluctuations in sales volume 
A) To systemize and circulate credit information 
B) To manage the requirements of operating efficiencies 
C) To publicly disclose the details of a firm's operations 
D) To present the payment of dividends out of profits 
E) To link profits to fluctuations in sales volume

Question 2

What was the major role of private banks in the early 1800s?

Accepted Answer

A) Serve as an institution for deposits 
B) Issue credit 
C) Reduce the risk of price fluctuation 
D) Create futures markets 
E) Sell stocks 
A) Serve as an institution for deposits 
B) Issue credit 
C) Reduce the risk of price fluctuation 
D) Create futures markets 
E) Sell stocks

Question 3

What was a key factor that aided foreign steel producers in penetrating U.S.markets?

Accepted Answer

A) Shifting demand in the economy to "lighter" products 
B) Invention of the basic oxygen furnace 
C) Development of the continuous casting process 
D) U.S.steelmakers' commitment to "light" products 
E) Development of the electric arc furnace 
A) Shifting demand in the economy to "lighter" products 
B) Invention of the basic oxygen furnace 
C) Development of the continuous casting process 
D) U.S.steelmakers' commitment to "light" products 
E) Development of the electric arc furnace

Question 4

What was the most significant development to the evolution of business circa 1910?

Accepted Answer

A) Railroad integration 
B) Telegraph communication expansion 
C) Banking and accounting standard practices 
D) Mass-production technology 
E) Advent of steam technology in railroads and shipping 
A) Railroad integration 
B) Telegraph communication expansion 
C) Banking and accounting standard practices 
D) Mass-production technology 
E) Advent of steam technology in railroads and shipping

Question 5

Matchmakers between manufacturers and sellers are called:

Accepted Answer

A) Agents 
B) Factors 
C) Brokers 
D) Merchants 
E) None of the Above 
A) Agents 
B) Factors 
C) Brokers 
D) Merchants 
E) None of the Above

Question 6

Brokers are often referred to as which of the following?

Accepted Answer

A) Factors 
B) Agents 
C) Sellers 
D) Matchmakers 
E) Facilitators 
A) Factors 
B) Agents 
C) Sellers 
D) Matchmakers 
E) Facilitators

Question 7

What caused the market conditions facing the telephone to be uncertain until the 1880's?

Accepted Answer

A) Patent conflicts 
B) Technology problems due to unstable electricity supplies 
C) Dissimilar technologies limiting interconnections between cities 
D) Different state laws limiting interstate expansion 
E) The high cost fo some components needed to manufacture telephones 
A) Patent conflicts 
B) Technology problems due to unstable electricity supplies 
C) Dissimilar technologies limiting interconnections between cities 
D) Different state laws limiting interstate expansion 
E) The high cost fo some components needed to manufacture telephones

Question 8

Mass production technology became accepted and widely used in what era?

Accepted Answer

A) Circa 1840 
B) Circa 1860 
C) Circa 1880 
D) Circa 1910 
E) Circa 1930 
A) Circa 1840 
B) Circa 1860 
C) Circa 1880 
D) Circa 1910 
E) Circa 1930

Question 9

What caused railway transportation to remain the primary transportation source over trucking until World War II?

Accepted Answer

A) The country lacked of an interstate highway system 
B) Rail consolidation was more extensive 
C) Rail was faster,safer and more reliable 
D) Railroads could carry goods a further distance 
E) Companies preferred rail transportation for their goods 
A) The country lacked of an interstate highway system 
B) Rail consolidation was more extensive 
C) Rail was faster,safer and more reliable 
D) Railroads could carry goods a further distance 
E) Companies preferred rail transportation for their goods

Question 10

Which of the following facets of modern financial infrastructure came as a result of deregulation in the 1970s and 1980s?

Accepted Answer

A) Separation of commercial and investment banking 
B) Enhanced role of central banks 
C) Increased regulation of securities markets 
D) Supply of debt and equity funding for firms that could not fund themselves through retained earnings 
E) The availability of large investment funds facilitating M&A to flourish 
A) Separation of commercial and investment banking 
B) Enhanced role of central banks 
C) Increased regulation of securities markets 
D) Supply of debt and equity funding for firms that could not fund themselves through retained earnings 
E) The availability of large investment funds facilitating M&A to flourish

Question 11

How has Atlanta been able to grow as a center of commerce despite its poor water and rail connections?

Accepted Answer

A) Widespread air transportation 
B) New government regulations 
C) Improved Financing 
D) Better Communications 
E) Better technology and innovation 
A) Widespread air transportation 
B) New government regulations 
C) Improved Financing 
D) Better Communications 
E) Better technology and innovation

Question 12

What significant transportation event brought about the first significant growth of the Great Lakes region?

Accepted Answer

A) Harnessing of the steam engine 
B) Invention of the screw propeller 
C) Opening of the Erie Canal 
D) Integration of railway system 
E) Invention of the railway system 
A) Harnessing of the steam engine 
B) Invention of the screw propeller 
C) Opening of the Erie Canal 
D) Integration of railway system 
E) Invention of the railway system

Question 13

What firm is generally regarded as being the first to extensively use mass production processes?

Accepted Answer

A) IBM 
B) Burroughs 
C) Remington Rand 
D) Ford 
E) Sears 
A) IBM 
B) Burroughs 
C) Remington Rand 
D) Ford 
E) Sears

Question 14

What is the gaizhi process?

Accepted Answer

A) Valuing assets according to their earnings 
B) A state-owned enterprise and private enterprise entering a joint venture 
C) An increase of profitability prior to sale 
D) Acquisition of large firms by private organizations 
E) Restructuring whereby small firms are leased or sold 
A) Valuing assets according to their earnings 
B) A state-owned enterprise and private enterprise entering a joint venture 
C) An increase of profitability prior to sale 
D) Acquisition of large firms by private organizations 
E) Restructuring whereby small firms are leased or sold

Question 15

Which of the following would likely lower antitrust scrutiny?

Accepted Answer

A) Predatory pricing tactics 
B) Utilizing mergers and acquisitions over alliances and joint ventures 
C) Utilizing alliances and joint ventures over mergers and acquisitions 
D) Incomplete contracting 
E) Complete contracting 
A) Predatory pricing tactics 
B) Utilizing mergers and acquisitions over alliances and joint ventures 
C) Utilizing alliances and joint ventures over mergers and acquisitions 
D) Incomplete contracting 
E) Complete contracting

What is the accounting concept of inventory turnover as developed by Sears in the late 19ᵗʰ century?

What was the major role of private banks in the early 1800s?

What was a key factor that aided foreign steel producers in penetrating U.S.markets?

What was the most significant development to the evolution of business circa 1910?

Matchmakers between manufacturers and sellers are called:

Brokers are often referred to as which of the following?

What caused the market conditions facing the telephone to be uncertain until the 1880's?

Mass production technology became accepted and widely used in what era?

What caused railway transportation to remain the primary transportation source over trucking until World War II?

Which of the following facets of modern financial infrastructure came as a result of deregulation in the 1970s and 1980s?

How has Atlanta been able to grow as a center of commerce despite its poor water and rail connections?

What significant transportation event brought about the first significant growth of the Great Lakes region?

What firm is generally regarded as being the first to extensively use mass production processes?

What is the gaizhi process?

Which of the following would likely lower antitrust scrutiny?

The Horizontal Boundaries of the Firm

The Vertical Boundaries of the Firm

Integration and Its Alternatives

Competitors and Competition

Entry and Exit

The Dynamics Competing Across Time

Industry Analysis

Strategic Positioning for Competitive Advantage

Information and Value Creation

Sustaining Competitive Advantage

Performance Measurement and Incentives

Strategy and Structure

Environment, Power, and Culture

Economics Primer

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Exam 1: The Power of Principles: A Historical Perspective

What is the accounting concept of inventory turnover as developed by Sears in the late 19ᵗʰ century?

What was the major role of private banks in the early 1800s?

What was a key factor that aided foreign steel producers in penetrating U.S.markets?

What was the most significant development to the evolution of business circa 1910?

Matchmakers between manufacturers and sellers are called:

Brokers are often referred to as which of the following?

What caused the market conditions facing the telephone to be uncertain until the 1880's?

Mass production technology became accepted and widely used in what era?

What caused railway transportation to remain the primary transportation source over trucking until World War II?

Which of the following facets of modern financial infrastructure came as a result of deregulation in the 1970s and 1980s?

How has Atlanta been able to grow as a center of commerce despite its poor water and rail connections?

What significant transportation event brought about the first significant growth of the Great Lakes region?

What firm is generally regarded as being the first to extensively use mass production processes?

What is the gaizhi process?

Which of the following would likely lower antitrust scrutiny?

The Horizontal Boundaries of the Firm

The Vertical Boundaries of the Firm

Integration and Its Alternatives

Competitors and Competition

Entry and Exit

The Dynamics Competing Across Time

Industry Analysis

Strategic Positioning for Competitive Advantage

Information and Value Creation

Sustaining Competitive Advantage

Performance Measurement and Incentives

Strategy and Structure

Environment, Power, and Culture

Economics Primer

Filters