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Study Resources (Business Management)

  True / False Questions 37.The Association of Southeast Asian Nations (ASEAN) effectively united Singapore, Britain, and Japan into one market.  38.The General Agreement on Tariffs and Trade was a precursor to the World Trade Organization and provided a forum for tariff negotiations.  39.The International Monetary Fund promotes trade among member nations by eliminating.
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  64.Being profitable relates to which social responsibility dimension?  A. Economic B. Voluntary C. Ethical D. Legal E. Corporate citizenship 65.Which of the following is not one of the dimensions of social responsibility?  A. Voluntary B. Economic C. Legal D. Ethical E. Citizenship 66.Philanthropic contributions made by a business to a charitable organization represent which dimension of social responsibility?  A. Corporate citizenship B. Economic C. Legal D. Ethical E. Voluntary 67.Studies have found a direct link between social responsibility and _________ in business.  A. profitability B. ethics C. declining stock.
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  61.How have the roles of commercial banks changed in recent decades because of new laws and regulatory shifts?  True / False Questions 62.Mutual funds spread the risk of investing across many securities.  63.Finance companies buy and sell stocks and bonds for their customers.  64.An example of electronic funds transfers (EFT) is using an automated.
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  Multiple Choice Questions 54.A corporation doing business outside the state in which it is chartered is known as a(n)  A. private corporation. B. multi-state corporation. C. domestic corporation. D. alien corporation. E. foreign corporation. 55.Corporations distribute profits to their owners in the form of  A. tax-free dividends. B. interest. C. retained earnings. D. dividends. E. bribes. 56.In creating a corporation, once the articles of incorporation are filed with the appropriate state office, the.
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  Multiple Choice Questions 91.Bryan thinks their plant resale company should be a corporation because  A. it is cheaper. B. all good businesses are corporations. C. they would have limited liability and seem larger. D. the other forms of corporation are not valid in their case. E. Bryan does not think the company should be a corporation. 92.Thomas thinks that organizing as a.
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  90.Explain the phrase "Think globally, act locally."  Multiple Choice Questions 91.What does Audiotech electronics produce?  A. Car stereos B. Widgets C. Control consoles D. Surround sound systems E. Smartphones 92.What is the primary reason that the owners of Audiotech are considering global expansion?  A. No local interest in the company's products B. Stagnating growth C. The family is moving abroad D. Cheaper labor E. Declining sales Essay Questions 93.What are the key issues that need.
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  83.Effective implementation of a major decision requires  A. perseverance. B. luck. C. directing. D. planning. E. controlling. 84.After monitoring the consequences of a decision, management determines that the decision failed to accomplish the desired result. Which of the following is not a possible reason for this failure?  A. The decision was wrong. B. The situation changed. C. The situation was defined incorrectly. D. The implementation of the decision was.
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  True / False Questions 73.A conglomerate merger results when two firms in unrelated industries merge.  74.Most tender offers are considered hostile.  75.When firms that make and sell similar products to the same customers merge, it is known as a horizontal merger.  76.A merger occurs when one company buys another by buying its stock.  77.Shark repellant.
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  True / False Questions 70.Without employees, a business cannot carry out its goals.  71.Recycling is a business response to employee issues.  72.The right to safety requires that businesses provide a safe place for consumers to shop.  73.A major social responsibility for business is providing equal opportunities for all employees.  74.Sustainability involves conducting activities so as.
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  Essay Questions 89.Discuss the sustainability issues managers must confront in dealing with social responsibility issues.  90.Discuss the community relations issues that concern businesses.  Multiple Choice Questions 91.What did Jon Barnard do to help Checkers develop a competitive advantage over the competition?  A. Handed out coupons B. Developed a database that improved efficiency C. Conducted a customer survey D. Raised prices E. Lowered prices 92.What did.
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  83.When two companies combine to form a new company, it is called a(n)  A. merger. B. acquisition. C. tender offer. D. leveraged buyout. E. white knight. 84.When a company offers to buy some or all of another company's stock at a premium price, it is a(n)  A. acquisition. B. leveraged buyout. C. merger. D. hostile offer. E. tender offer. 85.When a group of investors borrows money to buy a company or division,.
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  65.When Nike has its athletic shoes produced by companies in Asia, the Nike name still appears on the shoes. This illustrates  A. contract manufacturing. B. licensing. C. direct investment. D. exporting. E. importing. 66.The purchase of overseas production and marketing facilities is  A. licensing. B. contract manufacturing. C. using an export agent. D. a direct investment. E. exporting. 67.The fact that the U.S. company 3M owns a film-manufacturing facility in Italy is.
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  Essay Questions 22.What are the advantages of sole proprietorships over other forms of business organization?  23.Why is taxation considered both an advantage and a disadvantage of the sole proprietorship organizational form?  24.What are sole proprietorships? Provide an example.  True / False Questions 25.A limited partnership involves a complete sharing in the management of a business.  26.A.
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  11.About three-quarters of all businesses in the United States are sole proprietorships, and they account for 10 percent of total business income. We may conclude that  A. the average corporation is small, but earns little income. B. the average corporation hires many people, but makes little income. C. the average sole proprietorship is large, but earns.
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  True / False Questions 1.Business ethics refers to principles and standards that determine acceptable conduct in business organizations.  2.Ethics and social responsibility mean the same thing.  3.Nearly all business decisions may be judged as right or wrong, ethical or unethical.  4.The most basic ethical concerns have been formalized through laws and regulations that encourage.
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  True / False Questions 1.International business involves the buying, selling, and trading of goods and services across national boundaries.  2.When a nation imports more than it exports, it has a positive balance of trade.  3.A balance of trade refers to the buying, selling, and trading of goods and services across national boundaries.  4.Nations trade.
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  True / False Questions 38.Establishing and enforcing ethical standards and policies within business can help reduce unethical behavior by prescribing which activities are acceptable and which are not and by removing the opportunity to act unethically.  39.Without a code of ethics or formal policy on ethics, employees are likely to base their.
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  True / False Questions 53.To start any business, large or small, you must first have a general idea.  54.A key element of business success is a business plan.  55.The most important source of funds for any new business is the employees.  56.Franchisees pay the franchiser a monthly or annual fee based on a percentage.
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  True / False Questions 1.Managers can run a business with only human and physical resources.  2.Managers engage in planning, organizing, staffing, directing, and controlling.  3.Management takes place only in business settings.  4.Management is a process designed to achieve an organization's objectives by using its resources effectively and efficiently in a changing environment.  5.The decision to.
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  39.It is easier to raise funds in a partnership than in a sole proprietorship because  A. more people means greater earning power and credit. B. partners have better organizational control. C. banks know them better. D. partners have more combined experience. E. they can issue stock. 40.The decision-making process in a partnership tends to be faster when the partnership is  A. multifaceted. B. small. C. foreign. D. domestic. E. large. 41.Which of.
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  Multiple Choice Questions 20.The majority of all new jobs created in the United States in recent years were generated by  A. medium businesses. B. small businesses. C. large businesses. D. corporations. E. state governments. 21.Perhaps one of the most significant strengths of small businesses is  A. their ability to innovate and bring significant changes and benefits to customers. B. the entrepreneurial spirit they foster. C. the encouragement they.
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  29.To reduce dollars flowing out of the country, the United States can take measures to limit the number of foreign cars imported from Japan by imposing a(n)  A. quota. B. exchange control. C. trade deficit. D. embargo. E. free trade zone. 30.A group of nations or companies that band together to act as a monopoly is known as a  A. conglomerate. B. licensor. C. cartel. D. multinational. E. licensee. 31.A change in.
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  True / False Questions 73.Situations requiring small-scale decisions generally occur after some warning signs.  74.The first step in good managerial decision making is developing options.  75.Once a situation has been recognized, management must define it.  76.In the analyzing options stage, managers should consider the practicality and appropriateness of each option.  77.When making a decision, selecting.
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  47.Which of the following countries was an original member nation of Asia-Pacific Economic Cooperation?  A. Belgium B. Mexico C. China D. Japan E. Chile 48.Which of the following makes short-term loans to member countries with trade deficits and provides foreign currencies to member nations?  A. Foreign Credit Insurance Association B. General Agreement on Tariffs and Trade C. World Bank D. World Trade Organization E. International Monetary Fund 49.If Peru wants to purchase.
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  True / False Questions 1.A business's legal form of organization has no effect on how much taxes it pays.  2.Most sole proprietorships focus on manufacturing.  3.Lack of control is a disadvantage of sole proprietorships.  4.Sole proprietorships have the least degree of secrecy.  5.A sole proprietorship has limited sources of funds, which may affect the growth.
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  True / False Questions 28.Relatively low start-up costs are an advantage of a small business.  29.Small businesses cannot be operated from an individual's home.  30.The ability to develop a reputation for quality and service is an advantage of a small business.  31.Targeting small niches or product needs is a dangerous strategy for a small.
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  Essay Questions 80.What demographic trends will have the most impact on small business in the future?  True / False Questions 81.Small business principles cannot be transferred to larger organizations.  82.Downsizing is one way firms try to enhance their competitiveness.  83.Large firms avoid entrepreneurship.  84.Intrapreneurs take responsibility for the development of innovations of any kind within larger.
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  11.Which of the following groups is increasing their presence in the business world at the greatest rate?  A. Women B. Minorities C. White males D. People under 30 E. People over 65 12.Which of the following is an advantage of a small business?  A. Greater flexibility to change B. Highly trained staff C. Better products D. More diverse employees E. Small businesses have no advantages over large ones Essay Questions 13.What is a.
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  38.When market conditions change rapidly, a small business usually has fewer layers of management to work through in making decisions. This advantage of small business is  A. focus. B. flexibility. C. reputation. D. hierarchical organization. E. standardization. Essay Questions 39.What are some of the advantages of small-business ownership?  True / False Questions 40.Small businesses have a high success rate.  41.Managerial inexperience can lead to business.
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  63.A license to sell another's products or to use another's name in business is called a  A. franchise. B. franchisee. C. venture capital. D. mortgage. E. franchiser. 64.Since Eva Chang has decided to use her capital to purchase the rights to own and operate a McDonald's fast-food restaurant rather than start her own operation from scratch, she is probably a(n)  A. trade creditor. B. franchisee. C. industrialist. D. franchiser. E. venture.
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  Essay Questions 89.What are intrapreneurs and what role do they play in corporations?  90.Why would a big business want to "act small?"  Multiple Choice Questions 91.What is not a decision that Jack and Bruce have to make before starting their business?  A. What organizational form to use B. How to market their product C. How to determine what to sell D. The.
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  80.Which of the following is not an area of environmental concern in society today?  A. Animal rights B. Land pollution C. Waste disposal D. The hard-core unemployed E. Business practices that harm endangered wildlife 81.Laws regarding safety in the workplace are enforced by the _______.  A. Federal Trade Commission B. Occupational Safety and Health Administration C. Environmental Protection Agency D. consumer bill of rights E. codes of ethics 82.One role of the.
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  29.Partnerships have fewer regulatory controls than corporations.  30.In a general partnership, each partner is liable only for the debts he or she incurs.  31.In a partnership, all partners are equally liable.  Multiple Choice Questions 32.Which of the following is not a disadvantage of forming a partnership?  A. All partners are responsible for all other partners B. Unlimited liability C. Fewer.
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  48.Unethical behavior in business can be reduced if management does all of the following except  A. establishes clear policies on unethical behavior. B. limits opportunities for unethical behavior. C. establishes formal rules and procedures. D. punishes unethical behavior firmly. E. depends totally on employees' personal ethics. 49.According to the text, ethical decisions in an organization are influenced by (1) individual moral.
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  30.If Sony was investigated for allegedly raising prices of its PlayStation excessively during the Christmas buying season and thereby manipulating the supply of games available at that time, this would be an ethical issue concerned primarily with  A. conflict of interest. B. communications. C. fairness and honesty. D. cost control. E. game rules. 31.Making claims about dietary supplements or the health.
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  64.Which of the following organizational forms is most expensive to set up?  A. Sole proprietorship B. Limited partnership C. General partnership D. Cooperative E. Corporation 65.Which of the following forms of business organization restricts the number and type of shareholder?  A. Sole proprietorship B. Co-op C. Limited liability company D. S-corporation E. Partnership 66.The organizational form that many consider to be a blend of the best characteristics of corporations, partnerships, and sole.
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  True / False Questions 1.Entrepreneurship is the process of creating and managing a business to achieve desired objectives.  2.It is difficult to define small business because smallness is relative.  3.Any business that is independently owned and operated can be classified as a small business.  4.The Small Business Administration offers managerial and financial assistance to.
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  True / False Questions 55.Only small firms are mobile enough to engage in international business.  56.Exporting is available only to large corporations.  57.Licensing is a way of entering the international marketplace without spending large amounts of money abroad.  58.Direct investment is the least risky and least expensive way to participate in foreign trade.  59.A strategic.
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  Multiple Choice Questions 52.The oldest and largest of all financial institutions are  A. commercial banks. B. credit unions. C. savings& loans. D. insurance companies. E. thrift institutions. 53.Commercial banks have traditionally  A. relied on checking and savings accounts for funds. B. invested heavily in mortgages. C. not been required to keep reserves. D. had only a small share of all deposits. E. offered savings accounts. 54.Which of the following limited commercial banks from.
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  11.When Madison flies to Italy from the United States on a British airline, stays in Italian hotels, and buys clothing in Milan to bring home after her trip, she  A. decreases the trade deficit. B. is exporting products to Italy and Great Britain. C. contributes to the negative balance of payments for the U.S. D. buys American-made goods.
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  46.Define the partnership form of business organization. What are its advantages?  True / False Questions 47.While corporations account for the majority of businesses in the United States, they represent a small percentage of profits.  48.S Corporations are more flexible than traditional "C corporations."  49.Corporations cannot be sued.  50.In most states, corporations must have "corporation," "incorporated,".
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  81.McDonald's had to adapt its menus to reflect local preferences in India because  A. Indians do not like hamburgers. B. all Indians are vegetarians. C. Indians only like to eat diet food. D. cows are sacred to many Indians, and many are vegetarians. E. McDonald's had a bad reputation before opening franchises in India. 82.Even when products are standardized, _____ often.
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  True / False Questions   19.An ethical issue is an identifiable problem, situation, or opportunity that requires a person or organization to choose from among several actions that may be evaluated as ethical or unethical.  20.The best way to judge the ethics of a decision is to look at it from a manager's.
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  True / False Questions 69.Small businesses typically are not vulnerable to turbulence and change in the marketplace.  70.Echo boomers are sometimes called millennials or Generation Y and are an important market for small businesses.  71.Technological advances have resulted in fewer opportunities for small businesses abroad.  72.The future for small business looks bleak.  Multiple Choice Questions 73.Recently,.
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  46.Which of the following is a disadvantage of small-business ownership?  A. Little flexibility B. Low stress level C. High failure rate D. Low failure rate E. Inability to focus 47.All of the following concerns contribute to high stress levels for small-business owners except  A. rent increases. B. changing market demand. C. competition. D. expanding inventory. E. reputation. 48.Small business success  A. rarely lasts more than two years. B. is not guaranteed. C. isnot really attainable. D. happens only in the.
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  True / False Questions 19.The Webb-Pomerene Export Trade Act allows selected U.S. firms desiring international trade to form monopolies to compete with foreign cartels.  20.Protective tariffs raise the price of foreign goods to allow competition with more expensive domestic goods.  21.A common reason for establishing quotas or tariffs is to prohibit dumping.  22.Around the.
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  72.Why does direct investment have a greater degree of commitment than a countertrade agreement?  True / False Questions 73.A multinational strategy involves customizing products, promotion, and distribution according to cultural, technological, regional, and national differences.  74.Companies doing business internationally have traditionally used a globalization strategy.  75.Even when products are standardized, advertising often has to.
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  True / False Questions 54.There are four dimensions of social responsibility: economic, legal, ethical, and voluntary.  55.The concept of social responsibility is universally accepted.  56.One of the dimensions of social responsibility is philosophical.  57.Increasingly, companies are introducing eco-friendly and socially responsible products to satisfy consumer demand and improve their images.  58.Corporate citizenship is the extent.
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  11.Which of the following statements about business ethics is false?  A. It concerns the impact of a business's activities on society. B. It refers to principles and standards that define acceptable behavior in business organizations. C. It relates to an individual's values and moral standards and the resulting business decisions he or she makes. D. What is ethical.
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