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Study Resources (Business Management)

  181.Under the doctrine of strict product liability, a manufacturer can be held liable: A. even if when the product was introduced everyone agreed it was safe.B. only if the firm knowingly sold a hazardous product.C. only if the firm purposefully was negligent in the design or production of the product.D. only if the firm intentionally.
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  41.In order for information to be useful to managers, it must satisfy only two criteria: it must be timely, and it must be easy to manipulate. 42.Manager Minnie Hope is overwhelmed by information overload. Unfortunately, in this day of the Internet, cell phones, and instant messaging, there is little she can.
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  201.A warranty guarantees that: A. the seller will replace or repair the product at no charge if the customer finds a cheaper substitute.B. the buyer has read and understood the information provided in the owner's manual.C. consumers will have access to a customer complaint resolution hot line.D. the product sold will be acceptable for the.
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  102.What are the considerations when seeking external financing for international business?            103.Explain the impact of transaction costs in international business.            104.Define tax credit and tax treaty.            105.What are the advantages of using royalties and fees to move money across borders?                  .
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  71.Information managers at Sezhu Industries want to provide a single, seamless interface that will make it easier for customers, suppliers, and employees to gain access to the parts of its intranet that they need. Sezhu could achieve this result by setting up an enterprise portal. 72.A major reason for the creation.
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  71.Negotiable instruments provide a conditional promise to pay a specified amount of money. 72.A check is an example of a negotiable instrument. 73.Negotiable instruments are forms of commercial paper. 74.When a payee signs the back of a check the payee's signature is referred to as an endorsement. 75.When your New Jersey based mail-order computer.
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  98.What is capital budgeting?            99.Describe three factors that complicate the process of an international business.            100.Describe the problem of blocked earnings.            101.What are the criticisms against adjusting discount rates to reflect a location's riskiness?                .
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  94.Describe the three exchange rates that Lessard and Lorange pointed out.            95.What are the nine possible combinations of the three exchange rates proposed by Lessard and Lorange in the control process?            96.Explain the concept of transfer pricing.            97.Explain why the evaluation of a subsidiary should be kept separate from the evaluation of its.
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True / False Questions  1.The executive branch of the government is responsible for overseeing the legal system. 2.The U.S. court system is organized solely at the federal and state levels. 3.Trial courts hear cases involving criminal and civil law. 4.Criminal law defines crimes, establishes punishments, and includes payment for personal injury. 5.Laws regulating marriage and.
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  101.One problem with telecommuting is that it can cause workers to feel like they are isolated and left out of the office loop. 102.The increasing use of computer networks has made computer security more complicated. 103.The use of antivirus software completely eliminates the risk of downloading infected files. 104.A computer virus is a.
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    41.It is uncommon for a parent company to charge its foreign subsidiaries royalties for the technology, patents, or trade names it has transferred to them.      42.A fee is compensation for professional services or expertise supplied to a foreign subsidiary by the parent company or another subsidiary.      43.Dividends have certain tax advantages over.
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  231.Some economists advocate a ____________ on the consumption of such products as gasoline, liquor, cigarettes, and even soda pop, in the hope that consumers will think about how their purchases are having negative impacts on themselves and their environment. A. progressive taxB. sin taxC. flat taxD. tax credit 232.Mark and Barry own the Warehouse Liquor Store.
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  121.The intent of the Sherman Antitrust Act of 1890 was to encourage the growth of large business organizations in the U.S. in order to compete with more established firms in Europe. 122.When a local restaurant offers a discount to senior citizens, they have violated the price discrimination provisions of the Robinson-Patman.
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    71.By pooling cash resources centrally firms can _____.    A. better handle short-term cash needs of subsidiaries   B. increase liquidity of independent subsidiaries   C. reduce the total size of the cash pool it must hold   D. avoid government-imposed restrictions on capital flows     72._____ costs are incurred every time a firm changes cash from one currency into another currency.    A. Dividend   B. Capital   C. Fixed   D. Transaction     73.Multilateral netting is.
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  81.A contract is a legally enforceable agreement between two or more parties. 82.Contract law is a set of laws that covers sales laws and other commercial laws. 83.In order for a contract to be legal, mutual acceptance is achieved when one party is under duress. 84.Under contract law, "duress" means the presence of.
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    61.Of the five combinations, Lessard and Lorange recommend that firms use the _____ spot exchange rate to translate both the budget and performance figures into the corporate currency.    A. ending   B. initial   C. final   D. projected     62.When using the projected spot exchange rate to translate both the budget and performance figures into the corporate currency, the projected rate in.
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  171.The Environmental Protection Agency is an example of a(n): A. common law agency.B. statutory judicial agency.C. private placement agency.D. administrative agency. 172.The Griggs v. Duke Power Company (1971) case established a precedent on the need to use job-related tests in employment practices. Similar court cases have been decided based on this decision. This is an example.
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  Essay Questions  247.Explain the difference between statutory law, common law, and business law. 248.What type of law is tort law? Explain what a tort is as well as the meaning of negligence. 249.Compare and contrast the protection offered by patents, copyrights, and trademarks.     .
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  61.Widebeam is the term used to refer to technologies that give users continuous access to the Internet and greatly increase the speed at which data flows to and from their Internet connection. 62.Bandwidth is the term used to describe the rate at which data flows through the Internet. 63.Internet2 runs more than.
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    31.Every time a firm changes cash from one currency into another currency it must bear a transaction cost.      32.The principles of multilateral netting and bilateral netting are different.      33.A tax credit allows an entity to reduce the taxes paid to the home government by the amount of taxes paid to the foreign.
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  151.A company has to be insolvent before it can file for Chapter 11 bankruptcy. 152.Chapter 13 bankruptcy permits individuals and small-business owners to repay creditors over a period of three to five years. 153.Chapter 13 proceedings are more complicated than Chapter 7 bankruptcy proceedings. 154.The number of Americans filing for bankruptcy has decreased.
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  81.A disadvantage of network systems is that they create barriers that limit communication across functional boundaries. 82.Computing costs go up with productivity losses as a company upgrades and troubleshoots equipment as well as trains employees to use the system. 83.Application service providers rented access to the latest software applications to firms via.
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  Essay Questions  86.Describe importance of accounting information in business.            87.Identify a key accounting problem that international businesses are confronted with but that does not confront purely domestic businesses. Substantiate with a suitable example.            88.Explain the three types of decisions in international business.            89.How is a country's accounting system affected by the providers of capital?.
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  31.The recent lawsuits against the tobacco industry are examples of tort law. 32.Unintentional behavior that causes harm or injury is an example of a tort. 33.An intentional tort is a willful act that results in injury. 34.Tort law involves criminal acts where victims can be awarded compensation. 35.Tort law includes product liability cases. 36.Negligence, in.
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  141.The Constitution gives the judiciary the power to establish bankruptcy laws. 142.The Bankruptcy Reform Act of 2005 made it easier for individuals to eliminate most debts in a bankruptcy. 143.The number of Americans filing for bankruptcy each year has increased since the late 1980s. 144.Though high-profile business bankruptcies such as Borders and Blockbuster.
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True / False Questions  1.Though the types of technology used by businesses have changed over the last several decades, the role of business technology has remained remarkably constant. 2.In the 1970s business technology was known as data processing. 3.Data and information are two different names for essentially the same thing. 4.Information is data that.
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  252.Explain two of the major U.S. antitrust laws. 253.Describe bankruptcy and three sections of the Bankruptcy Code. Multiple Choice Questions  Mini-CaseBrian and Sondra have just opened a new Cajun restaurant on the edge of town, Cajun Cookin' Inc. They own the land and building and have a brand-new kitchen as well as a.
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  21.As businesses begin using business intelligence, managers will spend less time finding information and more time using it to make decisions. 22.Kent Uchi is the CIO for a major corporation. Kent's job will require him to have an extensive knowledge of the hardware and software his company uses, but he will.
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  21.The Federal Trade Commission acts to stop false and deceptive advertising and labeling. 22.Public utility commissions are federal agencies. 23.Congress is responsible for passing legislation that is enforced by the judiciary. 24.Congress prohibited discrimination against people with physical disabilities when they enacted the Americans with Disabilities Act. This is an example of common.
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    51.The technical process by which an independent person gathers evidence for determining if financial accounts conform to required accounting standards is known as _____.    A. standardization   B. an audit   C. reporting   D. a benchmark     52.Transnational financing occurs when a firm based in one country enters another country to raise capital _____.    A. by borrowing from financial institutions   B. from the sale of stocks.
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  61.John Fielder is a renowned photographer of the Colorado Rocky Mountain region. Each of his works is copyrighted. This means that anyone can use his photos so long as they give Mr. Fielder notice. 62.The Nike Swoosh and the McDonald's Golden Arches are examples of corporate trademarks. 63.The Uniform Commercial Code establishes.
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  241.Concerns over the increase in the number of business laws and regulations that were costing the public money led to: A. downsizing.B. restructuring.C. deregulation.D. reregulation. 242.Which of the following industries has been deregulated? A. ChemicalsB. AgricultureC. AirlinesD. Steel 243.One result of deregulation in the airline industry has been: A. less intense competition.B. increase aviation related fatalities.C. higher prices for consumers.D. lower prices for consumers. 244.Affordable healthcare continues to.
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  221.The use of tying contracts was prohibited by the Clayton Act of 1914 because these contracts: A. required retailers to use false and misleading advertising.B. required retailers to purchase unwanted items in order to purchase desired items.C. forced households to buy wanted products in order to buy a desired product.D. forced competitors into price discrimination.
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  41.Ford and General Motors have both been involved in major product liability cases. 42.A patient injured through the negligence of a health care provider can be awarded compensation through the tort law system. 43.If an automobile manufacturer unknowingly sells a defective product that causes an injury, the manufacturer is protected from product.
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  211.You and your neighbor have agreed to a contract where he will cut your grass every other week for which you pay $30. However, for no apparent reason, he has not cut your grass for a month. Your neighbor has committed a(n): A. obligation violation.B. breach of contract.C. termination by association.D. nonperformance endorsement. 212.You agree to.
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  161.Business and government do not need to work together to create a competitive environment that is fair and open since global competition is increasing. 162.When the airline industry was deregulated in 1980 consumers benefited because airlines established new routes and charged lower fares. 163.The branch of the government responsible for overseeing the.
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  91.Under contract law, "damages" are the monetary settlements awarded to a person who is injured by a breach of contract. 92."Specific performance" means that a person who violates a contract is required to live up to the agreement even if money damages are adequate. 93.Requiring that both parties are competent for a.
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  11.Business law is enforceable by the courts. 12.The government's involvement in governing the behavior of business people seems to be increasing. 13.Statutory law refers to written legislation. 14.Common law is the body of law established through legislative action by Congress. 15.Common law is based on the precedent of earlier court decisions. 16.The language used in.
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  90.Briefly differentiate accounting standards and auditing standards.            91.Describe the structure of the International Accounting Standards Board (IASB).            92.What are the shortcomings of IASB?            93.What are the main steps in the control process of a typical firm?                .
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    21.Capital budgeting is the technique financial managers use to try to quantify the benefits, costs, and risks of an investment.      22.The theoretical framework for performing capital budgeting for a foreign project is vastly different from domestic capital budgeting.      23.The connection between cash flows to the parent and the source of financing must.
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  11.In today's technological environment, the typical chief information officer (CIO) spends the majority of his or her time overcoming glitches and making sure the organization's information system is up and running. 12.Information technology brings work to people instead of requiring people to go to work. 13.Business Intelligence (BI) changes the traditional flow.
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  101.The Justice Department's lawsuit against Microsoft is an example of an antitrust case. 102.The Clayton Act of 1914 prohibits price discrimination. 103."Exclusive dealing" means selling goods with the condition that the buyer will not buy goods from a competitor. 104.A "tying contract" requires a buyer not to purchase goods from a competitor as.
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  91.Shareware software is software that is not protected by a copyright. 92.Shareware is distributed to potential users at no charge, but the users are asked to send a specified fee to the software's developer if the program meets their needs and they decide to use it. 93.Shareware is software that allows two.
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  131.Another name for "sin tax" is "excise tax." 132.Real property is real estate owned by individuals and businesses. 133.Money collected from excise taxes goes toward a specific purpose. 134.The primary objective of a sin tax is to generate additional revenue for the government. 135.The primary objective of a tax credit is to encourage businesses.
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  191.A(n) __________ patent refers to the situation when some inventors intentionally delay a patent application because they expect others to develop similar products or technology. A. undergroundB. substandardC. submarineD. under-the-table 192.The intent of a patent is to: A. increase competition in the marketplace.B. reward innovation and hard work of inventors.C. slow the growth of monopolies.D. encourage copycat inventions. 193.Which of the following.
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  111.The Robinson-Patman Act prohibits price discrimination in all transactions except business-to-business transactions. 112.The Robinson-Patman Act applies only to business-to-business transactions. 113.The Robinson-Patman Act applies only to sellers who "knowingly" induce an unlawful discrimination in price. 114.One purpose of the Robinson-Patman Act is to outlaw price differences that "substantially" weaken competition. 115.The changing nature of.
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  51.The American Inventor's Protection Act requires patent applications to be made public after 18 months regardless of whether a patent has been granted. 52.A copyright protects an individual's ownership rights to materials such as books, articles, photos, and cartoons, which they created. 53.If in the normal course of a job an employee.
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  31.Timeliness is one of the characteristics of useful management information. 32.Subjectivity is one of the four characteristics of useful information. 33.Relevance is one of the key characteristics of useful information. 34.Redundancy is one of the four characteristics of useful information. 35.The first step in avoiding information overload is to identify four or five key.
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