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Study Resources (Business Management)

    101.One problem with the Social Security system is that the number of people retiring and living longer is declining dramatically.          102.It is likely that young adults today will benefit from the recent trend in the Social Security system to increase benefits and expand the cost-of-living adjustments.          103.The number of workers paying into.
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    81.Effectiveness means producing the desired result.          82.Technology refers to everything that makes business operations more effective, efficient, and productive.          83.E-commerce is the buying and selling of goods over the Internet.          84.The B2B Internet market consists of selling goods and services to consumers.          85.The rise of Internet marketing has become particularly important in doing business.
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  True / False Questions  1.The value of education is often exaggerated when searching for a good job.          2.The average lifetime income of someone with an undergraduate degree is about $1.6 million higher than for someone with only a high school diploma.          3.The U.S. government provides several types of financial incentives to encourage people.
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    11.Credit-card debt represents an asset on a consumer's balance sheet.          12.A major source of revenue on your personal income statement is your salary or wages from your job.          13.One step toward the goal of taking control of your finances is to keep track of all your expenses.          14.If you find yourself regularly running.
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    141.China and India have become major U.S. competitors.          142.The threat of terrorism increases the costs of operating most businesses.          143.Wars are costly to all companies.          144.The war on terrorism has had a significant effect in drawing many resources from the U.S. economy and led to many additional costs for businesses.          145.In most industries, the.
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    151.Budgets are:    A.useful for businesses, but too restrictive to be used by individuals or households.   B.a financial plan of projected revenues and expenses.   C.just another name for cash flow statements.   D.only helpful to people who earn more than $50,000 per year.         152.Preparing and living with a personal budget is:    A.not necessary if your have sufficient income.   B.similar.
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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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    131.Demographic trends suggest that businesses will benefit from offering flexible work schedules, eldercare, and childcare to help employees balance the demands of job and family.    The increase in the number of single parent families is a powerful demographic trend. Successful organizations will adjust and accommodate these changes in their social environment.       132.The.
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    281.The social security system,    A.continues to burden businesses due to the fact that businesses must provide and pay for this benefit for their employees.   B.met the needs of our nation when it was conceived, but needs an overhaul.   C.will continue to serve the needs of U.S. citizens into the distant future, due to.
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    31.Financial planners encourage individuals to borrow only to cover immediate expenses.    If you have to borrow money, only borrow to buy assets that have the potential to increase in value or generate income, such as a house.       32.For individuals, budgets are usually more trouble than they are worth.    Creating a financial plan and.
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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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    91.Information in a database allows firms to carry only the products that the local population wants.          92.Identity theft is when individuals or firms access people's personal information and then use it for illegal purposes and activities.          93.As the generation that grew up with smartphones gets older, retailers are trying to connect with.
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    11.The United States has one of the highest standards of living in the world.          12.The term "standard of living" refers to the amount of debt people can incur on a given income.          13.Health care availability, a clean environment, and good schools all contribute to a high quality of life.          14.Maintaining a high quality.
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    111.Funds deposited into an IRA cannot be withdrawn until you retire.          112.In order to qualify as a tax shelter, IRA saving plans must be invested in mutual funds.          113.Withdrawals from an IRA prior to age 59½ generally are subject to taxes and a penalty.          114.Earnings from traditional IRA investments are taxable at the.
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    131.An individual retirement account (IRA) is a tax-deferred investment plan designed to encourage workers to save for retirement.    Within certain income limits, both the initial investment and the earnings of a traditional IRA are tax-deferred until the funds are removed from the retirement plan.       132.Monica expects to be in a much higher.
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    81.An annuity is a contract to make regular payments to a person for life or for a fixed period.          82.Fixed annuities have become much more popular than variable annuities.          83.Variable annuities offer investment choices identical to mutual funds.          84.People who have health insurance seldom need disability insurance.          85.If you are relatively healthy, there is.
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    161.Ima Safer, who recently graduated from college and got a full time job, has prepared her first personal budget and found a pleasant surprise. After taking into account her expected monthly income and all of her ordinary expenses, including the monthly payment on her credit card, she should have some.
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    41.After marriage, one great financial strategy is to live on one income and to save the other.          42.If possible, it is almost always better to buy a single home rather than a duplex.          43.One drawback to buying a home compared to renting is that your monthly mortgage payments will increase, while rental.
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    111.Empowerment means giving frontline workers the responsibility, authority, and freedom to respond quickly to customer requests.          112.The goal of empowerment in the work environment is to prevent mistakes. Mistakes can be prevented by giving management more control over the actions of lower-level workers.          113.The primary focus of successful firms is designing and.
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    51.Though stock prices do sometimes go down, investing in the stock market has generally provided very attractive returns over the long run.          52.A contrarian would advise you to buy stock when stock prices are falling and most other people are selling.          53.Funds invested in savings accounts and certificates of deposit (CDs) have.
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    171.The goal of accumulating capital is to allow an individual to:    A.buy the things that satisfy present wants and needs.   B.have funds available to invest.   C.buy now, pay later.   D.establish a good credit rating.         172.Real estate people agree that the key to getting the optimum return on the purchase of a home is:    A.construction quality.   B.location.   C.tax advantages.   D.design.
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    101.As emerging technologies become widespread, businesses tend to find better uses for them. However, in the case of the Internet, businesses that sell B2B have not benefited from directly selling to their business customers in the same way that B2C companies have done.    The Internet has become an important business tool.
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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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    21.Businesses and nonprofit organizations often strive to accomplish the same objectives.          22.Nonprofit organizations use financial gains to meet stated social or educational goals of the organization rather than personal profit.          23.Social entrepreneurs are people who start and manage organizations that are not-for-profit. Their mission is to help others improve their quality of.
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    291.Preferred Pet Care, Inc., a mobile veterinary care company is planning for the future. As a business student who has studied social trends, which of the following statements reflects the need for Preferred Pet Care's service in the future?    A.Mobile pet care will not be needed because the majority of people.
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    91.Guaranteed replacement cost insurance coverage provides the insured with the depreciated cost of assets.          92.Most homeowner's insurance policies do not cover certain types of expensive items unless you purchase a rider for the additional coverage.          93.An umbrella policy is an inexpensive policy that provides financial protection only in the event of clearly.
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    61.Accumulating money through savings allows you to participate in the growth of a capitalist society.    The path to success in a capitalist system is to have capital (money) to invest.       62.If you are in the 25 percent tax bracket and your home mortgage interest is $1000 per month, then your after-tax mortgage.
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  326.Describe what we mean by greening and thinking green. List several ways that people and businesses are participating in the green movement. List business opportunities that may emerge from this movement.          327.Trace the evolution of American business. Identify the key trends, and discuss the implications these trends have for the future.              .
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    31.An effort to please one group of stakeholders eventually pleases all stakeholders.    Balancing the demands of all stakeholders is a tremendous challenge for organizations. Tradeoffs are common. Benefiting one group may have a negative impact on another group of stakeholders. For example, the need to stay competitive may call for outsourcing.
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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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  Multiple Choice Questions   Mini-CaseSergio Gonzales is employed by Bigbux National Bank, one of the largest banks in the Midwest. He is a loan officer, specializing in home equity loans. Tio Raul, Sergio's favorite (and wealthiest) uncle, passed away last month and left Sergio a sizable amount of money. Sergio is.
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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.    At one time, the government restricted airlines with regard.
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    311.Health care, insurance, recreation and other intangible products are provided by the:    A.global sector.   B.service industry.   C.industrial sector.   D.manufacturing industry.         312.Since the beginning of the 1900s, the agricultural sector of the United States has:    A.Seen the number of family farms more than double.   B.Become less and less competitive in the global economy.   C.Produced a consistent output per farm.   D.Experienced.
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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.    A copyright protects a creator's rights to materials such as books, articles, photos, paintings, and cartoons. They.
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  324.Competition among businesses has never been greater. Identify and describe several ways that businesses can become more competitive.      325.What is demography? Identify several demographic trends in the United States and discuss how they will impact U.S. businesses.            .
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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.    Tort law relates to wrongful conduct that causes injury to another person's body, property, or reputation. Negligence involves an.
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    141.Throughout history an investment in ________ has yielded an excellent return, regardless of the state of the economy or political changes.    A.antiques   B.a good education   C.government bonds   D.savings accounts         142.On average, a person with a college education earns _________ over the course of his or her career.    A.about $300,000 more than a high school graduate   B.barely enough.
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    301.World trade has both benefits and costs. Which of the following statements attests to this fact?    A.The U.S. economy and all businesses that participate in this economy were negatively impacted by the wars in Iraq and Afghanistan.   B.The standard of living for citizens in developing nations has significantly decreased due to globalization.   C.Economists.
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    121.Keogh plans are intended to help small business owners save for retirement.          122.Keogh plans are most useful for stockholders of major corporations who earn most of their income from dividends rather than wages or salaries.          123.Employees of small businesses can contribute to a Keogh plan.          124.IRAs, 401(k), and Keogh plans all include incentives.
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  True / False Questions   1.Businesses provide goods, jobs, and services to others.          2.Businesses seek to earn a profit by providing goods and services to others.          3.Revenue is the amount a business earns above and beyond what it spends for expenses and costs.          4.Profit is the amount of money a business earns above and.
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    161.There are more high-paying jobs in the service sector than in the goods-producing sector.          162.The best employment strategy for today's college graduates is to search for jobs that are closely related to their college major.          163.The growth in the service sector in the United States appears to be giving way to an.
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    121.Diversity groups identified in the market today include extroverts, introverts, atheists, and the devout.          122.Companies have responded to a diverse customer base by hiring a more diverse workforce.          123.Currently people between the ages of 45 and 54 are the richest group in the United States.          124.New welfare rules have made it easier for.
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    21.Financial planners regularly suggest that you borrow money to pay for large purchases.          22.The best way to save money is to pay yourself first.          23.Most financial experts will tell you to save about 1 month of earnings for contingency purposes.          24.Borrowing money for ordinary expenses is a necessary part of life.          25.LaTasha is attending.
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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. An administrative agency is an institution created by Congress with delegated power to pass rules and regulations within its mandated area of authority. 172.The Griggs v. Duke Power Company (1971) case established a precedent on the.
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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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    171.__________ is the amount a business earns after deducting what it spends for salaries and other expenses.    A.Profit   B.Revenue   C.Interest   D.Dividends         172.A business incurs a ___________ if its costs and expenses exceed its revenues.    A.loss   B.liability   C.debit   D.dividend         173.__________ is the chance a business owner will lose the time and money invested in a business that proves to be unprofitable.    A.Depreciation   B.Risk   C.Fallibility   D.Redundancy         174.The.
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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.    The judiciary is the branch of our government chosen to oversee the legal system through the court system. 24.Congress prohibited discrimination against people.
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    151.After several years of study as a part-time student, Alex recently earned a degree in marketing at a local college. The growth in global markets may increase Alex's job opportunities, but it will also require him to continually update his skills or seek further education.    As businesses expand to serve global.
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