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SU BBA-131-98 Chapter 3 & 4 Quiz with 100% Correct Answers




Question;Which of the following are groups of small investors seeking to make profits on companies with rapid growth potential?Select one:a. equity managersb. government securities dealersc. venture capital companiesd. banksThe roles of shareholders, directors, and other managers in corporate decision-making are called _____.Select one:a. articles of incorporationb. bylawsc. corporate governanced. partnership agreements____ are people who assume the risk of business ownership.Select one:a. Directorsb. Entrepreneursc. Managersd. ExecutivesAccording to authors of your textbook, a new business should have enough capital to operate at least how many months without earning a profit?Select one:a. 3b. 6c. 5d. 4Stock in XYZ company is not available for sale to the general public. XYZ is an example of a _____.Select one:a. private corporationb. master limited partnershipc. public corporationd. sole proprietorshipThe organizational form defined as an artificial being, invisible, intangible, and existing only in contemplation of the law is a _____.Select one:a. cooperativeb. corporationc. master limited partnershipd. sole proprietorshipWhen a firm sells part of itself in order to raise capital, it is called a _____.Select one:a. spin-offb. divestiturec. Employee Stock Ownership Pland. mergerIn a _____, an entrepreneur summarizes business strategy for a new venture and shows how it will be implemented.Select one:a. business planb. franchise agreementc. venture capital pland. master limited partnership planWhich of the following legal forms of business is owned and usually operated by one person who is responsible for its debts?Select one:a. sole proprietorshipb. spin-offc. limited partnershipd. corporationThe biggest advantage of regular corporations is _____.Select one:a. ease of limiting ownershipb. limited liabilityc. lack of continuityd. private ownershipA major drawback of sole proprietorships is _____.Select one:a. inflexibilityb. unlimited liabilityc. low startup costsd. limited liabilityThe most striking advantage of general partnerships is _____.Select one:a. their lack of legal standingb. their ability to grow with the addition of new talent and moneyc. the unlimited liability of the partnershipd. the lack of continuityA _____ is a business with two or more owners who share in the operation of the firm and are financially responsible for its debts.Select one:a. sole proprietorshipb. cooperativec. general partnershipd. corporationA _____ is independent and does not dominate its market.Select one:a. partnershipb. franchisec. small businessd. sole proprietorshipAn arrangement that permits the buyer to sell the product of the seller, or parent company, is called a _____.Select one:a. franchiseb. government entityc. joint ventured. not for profit organizationA _____ invests money in a partnership but is liable only to the extent of his/her investment.Select one:a. master partnerb. active partnerc. general partnerd. limited partnerWhich of the following occurs when two firms combine to create a new company?Select one:a. mergerb. strategic alliancec. divestitured. acquisitionThe owners of a corporation are the _____.Select one:a. officersb. board of directorsc. top managersd. stockholdersAccording to the text, which of the following are reasons for buying an existing business rather than starting a new one from scratch?Select one:a. proven ability to draw customersb. all of the answers are good reasonsc. better odds of successd. established track recordThe U.S. Small Business Administration considers a business small if it has no more than how many employees?Select one:a. 1500b. 500c. 1000d. 100Chapter 4 Quiz - 14/SU BBA-131-98A nation's _____ is the economic value of all of the products that a company exports minus the economic value of its imports.Select one:a. standard of livingb. balance of paymentsc. trade deficitd. balance of tradeThe _____ is the common currency for much of the European Union.Select one:a. eurob. francc. poundd. yenWhich of the following exists when a country can produce something more cheaply and/or of higher quality than any other country can?Select one:a. comparative advantageb. national competitive advantagec. absolute advantaged. marketing advantageUnder _____, Canada, the United States, and Mexico will gradually eliminate tariffs and all other trade barriers.Select one:a. ASEANb. the European Unionc. NAFTAd. USCAMXWhich of the following restricts the number of products of a certain type that can be imported into a country?Select one:a. tariffb. quotac. subsidyd. dumpingA country has a _____ in goods it can produce more efficiently than other goods.Select one:a. absolute advantageb. monopolistic advantagec. comparative advantaged. national competitive advantageThe ABC Paint Company in the United States has joined forces with the 1-2-3 Plastics Company in Italy to create a non-pealing, plastics-based paint. Both companies intend to share the research costs and any profits. This is an example of _____.Select one:a. a strategic allianceb. a marketing planc. a licensing arrangementd. foreign direct investmentSelling a product abroad for less than the cost of production is called _____.Select one:a. dumpingb. quotac. tariffd. subsidyWhen a country's exports exceed its imports, the nation has a _____.Select one:a. trade surplusb. negative balance of tradec. trade deficitd. none of the answers are correctA government order forbidding exportation and/or importation of a particular product from a particular country is called an _____.Select one:a. absolute advantageb. exchange ratec. embargod. exportWhat organization was founded in Pacific Asia in 1967 for economic, political, social, and cultural cooperation?Select one:a. the European Unionb. The Pacific Asian Unionc. NAFTAd. ASEANProducts created abroad and then transported and sold domestically are called _____.Select one:a. buy backsb. subsidiesc. exportsd. importsWhich of the following international organization strategies consists of firms giving individuals or companies in a foreign country exclusive rights to manufacture or market their products in that market?Select one:a. strategic alliancesb. independent agentsc. licensing arrangementsd. branch officesProducts created domestically and transported for sale abroad are called _____.Select one:a. returnsb. exchange ratesc. importsd. exportsWhich of the following type of firm conducts a significant portion of its business abroad?Select one:a. an importerb. a domestic firmc. an exporterd. an international firmBenefits to globalization include _____.Select one:a. obtaining cheaper resourcesb. improved business profitabilityc. all of the answers are benefitsd. potential for higher standards of livingWhich of the following is a tax on imported goods or products?Select one:a. quotab. tariffc. embargod. subsidyAn exchange rate _____.Select one:a. has little impact on balance of tradeb. is the rate at which the currency of one nation can be exchanged for that of anotherc. tends to fluctuate a great deal on a daily basisd. tends to be fixed between two countriesWhich of the following is a government payment to help a domestic business compete with foreign firms?Select one:a. embargob. subsidyc. quotad. tariffA _____ is an international competitive advantage derived from a combination of four conditions: factor conditions, demand conditions, related and supporting industries and strategies, structures and rivalriesSelect one:a. comparative advantageb. absolute advantagec. global business advantaged. national competitive advantage


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