Question;In the U.S. economy, ___ are considered the reward for the risk of entering business.A. liabilitiesB. profitsC. salesD. revenues2. Forbes, Fortune, and similar types of magazines often contain ads for Rolex watches, BMW automobiles, and other luxury items. Advertisers are trying to reach a market segment based onA. age.B. income.C. location.D. gender.3. Pham is employed as a human resource manager. His responsibilities might include all of the following activities exceptA. administering compensation plans.B. administering employee benefit programs.C. projecting sales for the coming six-month period.D. developing employee training programs.4. The country Artesia exported products totaling $86 billion last year. During the year, Artesia imported products valued at $43 billion. Artesia has a/anA. trade surplus of $43 billion.B. exchange rate of 2 to 1.C. trade deficit of $43 billion.D. unfavorable balance of payments.5. Student A says that if you're going to prepare alternative course of action, you need to do strategic planning. Student B says that if you're going to prepare alternative courses of action, you need to do contingency planning. Which student is correct?A. Student B onlyB. BothC. Student A onlyD. Neither6. Television is an attractive advertising medium because itA. is relatively inexpensive.B. offers a rapidly growing network audience.C. offers mass coverage and flexibility.D. provides instant feedback which can be used to measure effectiveness.7. Union workers at an auto parts plant go out on strike. In response, management closes the plant. This tactic is aA. secondary boycott.B. lockout.C. strikebreaker.D. cooling-off period.8. Mario is part of a strategic planning team. He has identified that his company is the low-cost producer in its industry. This should be listed on a SWOT analysis as a/anA. threat.B. weaknesses.C. opportunity.D. strength.9. What is the name for a complex form of bartering in which several countries may be involved, each trading goods for goods or services for services?A. CountertradingB. Currency fluctuationsC. Exchange activityD. Countertopping10. The method of determining the minimum sales volume needed at a certain price level to cover all costs isA. equilibrium pricing.B. market share analysis.C. breakeven analysis.D. return on sales.11. In which stage of the product life cycle do sales reach a saturation level, making further sales expansion difficult?A. Maturity stageB. Introductory stageC. Growth stageD. Decline stage12. Nearly a week before Hurricane Katrina reached New Orleans, Wal-Mart began moving trucks and supplies into position, as specified in the company's ________ plan.A. tacticalB. operationalC. contingencyD. strategic13. Ida works on creating ways to ensure that customers receive goods at the right time and correct location. Ida is involved in her firm's ________ strategy.A. pricingB. transportationC. productD. promotion14. The salesperson's task of identifying potential customers is known asA. follow-up.B. prospecting.C. selection.D. demonstration.15. What prompted Congress to enact the Sarbanes-Oxley Act in 2002?A. Congress wanted to make accounting practices more efficient.B. A series of improper financial disclosures were found during investigations.C. Stockholders petitioned for increased access to financial records.D. Major companies requested government regulation following negative publicity.16. Student A says that customer satisfaction is a mark of a world-class business. Student B says that proactive ethics is a mark of a world-class business. Which student is correct?A. Student A onlyB. NeitherC. Student B onlyD. Both17. Camden Products buys a $500,000 machine by taking out a bank loan. The company's assets will ________ by $500,000 while its liabilities will ________ by $500,000.A. fall, fallB. fall, riseC. rise, riseD. rise, fall18. Sole proprietorships have all of the following advantages exceptA. unlimited life.B. profits subject only to a single tax.C. ease of formation.D. ease of liquidation.19. Student Betty says that physical distribution includes both transportation and storage. Student Bob says that exchange includes both buying and selling. Which student is correct?A. Bob onlyB. NeitherC. BothD. Betty only20. A company includes an "instant coupon" as part of a product's package, giving the buyer a reduction off the retail price. What is the company attempting to do?A. Accentuate product valueB. Stabilize salesC. Increase salesD. Provide information21. In which stage of the product life cycle are profits at their highest?A. Growth stageB. Maturity stageC. Introductory stageD. Decline stage22. The curve that shows the relationship between different prices and the quantity requested at each price is the ________ curve.A. equilibriumB. buyingC. demandD. supply23. Omar, an electrician for Quality Builders, is paid $35 for each hour he works during the day. After 5 p.m. and on weekends, he is paid the overtime rate of one and one-half times the regular hourly rate. Omar is paid aA. bonus.B. commission.C. wage.D. salary.24. One way for a country to obtain an absolute advantage in marketing a product outside its borders is to.A. revalue the currency.B. produce the good at the lowest cost.C. enter into an orderly marketing agreement.D. adopt many trade restrictions.25. If you seek to determine the value of one nation's currency relative to the currencies of other countries, you should isolate the nation'sA. exchange rate.B. international current module.C. countertrading activity.D. governmental surplus.26. _______ ratios measure the degree to which a firm relies on borrowed funds in its operations.A. Earnings per shareB. Leverage (debt)C. Wholesale earningD. Retail earning27. According to the doctrine of supply, the amount _______ will increase as the _______ increases.A. demanded, cheapnessB. sold, demandC. supplied, priceD. bought, cost28. If you want to turn self-directed gain into social and economic benefits for all, you should use a/an _______ strategy.A. invisible handB. visible handC. governmentD. charitable aid society29. Which of the following represents the basic accounting equation?A. Liabilities = Assets + Owners' EquityB. Owners' Equity? Liabilities = AssetsC. Assets = Liabilities + Owners' EquityD. Assets + Liabilities = Owners' Equity30. During a recession, unemployment ________ while inflationA. rises, falls.B. falls, falls.C. rises, rises.D. falls, rises.31. If a firm has a current ratio of 2.00, it means that for every $2 in ________ it has $1 inA. current assets, current liabilities.B. total assets, total liabilities.C. total assets, current liabilities.D. current assets, total liabilities.32. Efficiency means producing _______ using the least amount ofA. entrepreneurship, people.B. human resources, time.C. capital, natural items.D. goods, resources.33. The rate the Fed charges member banks for short-term loans is called theA. margin rate.B. federal funds rate.C. discount rate.D. reserve requirement.
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