Providing short-term loans to countries that are unable to meet their financial
obligations is a primary function of the International Monetary Fund.
Corrections will not lead to performance improvements at the leverage point.
In batch-of-one production, the producer creates a unique good or service for each
customer.
The World Bank is an agency of the U.S. federal government.
In a free-market economy, companies generally have limited autonomy in deciding
which customers they want to focus on and how they want to compete.
A self-managed team requires little supervision, controls the pace of its work and
determines work assignments.
If the Fed decreases the reserve requirement, banks will have less money to lend.
The chief downside of trade allowances is that they can create the controversial practice
of forward buying, in which customers load up on merchandise while the price is low.
Deflation is an economic condition in which prices fall steadily throughout the
economy.
In proactive CSR, company leaders believe they have responsibilities beyond making a
profit, and they back up their beliefs and proclamations with actions taken on their own
initiative.
Culture is a shared system of symbols, beliefs, attitudes, values, expectations, and
norms for behavior.
Setting the prices of new products is a fairly routine decision that managers make.
Corporate officers of an organization are elected directly by the shareholders of a
corporation.
Whistle-blowing is illegal.
Six months after you bought a new car, you receive a letter from the manufacturer
telling you about a special price being offered by the dealer for an oil change. This is an
example of “reminder advertising.”
Sales taxes are the government’s largest single source of revenue.
The discount rate is the interest rate that member banks charge each other to borrow
money overnight from the funds they keep in the Federal Reserve accounts.
Conceptual skills refer to the ability and knowledge to perform the mechanics of a
particular job.
________ refers to an evolutionary process by which stores that feature low prices
gradually upgrade until they no longer appeal to price-sensitive shoppers and are
replaced by a new generation of leaner, low-price competitors.
A) Benchmarking
B) Decision tree model
C) Hawthorne effect
D) Wheel of retailing
E) Hyper-retailing
Which of the following is an advantage of labor unions?
A) Labor unions do not involve in direct negotiations with the management.
B) Most unions do not collect money from the members.
C) Most unions are not related to political activities.
D) Labor unions promote skill-based pay systems and promotions.
E) Union members receive greater benefits compared to nonunion employees.
Robex Retail forms a contract with one of its suppliers to buy specific amounts of
agricultural produce at a later date. This contract is an example of a(n) ________.
A) financial future
B) put option
C) credit derivative
D) call option
E) commodities future
Trading blocs are ________.
A) international organizations that provide funds to advanced countries
B) regional organizations that promote protectionist principles
C) financial intermediaries that facilitate international transactions
D) regional organizations that promote trade among member nations
E) international organizations that provide funds to developing nations
The ________ was established to foster international financial cooperation and its
primary functions include providing short-term loans to countries that are unable to
meet their financial obligations and working to alleviate poverty in developing
economies.
A) World Trade Organization
B) World Commerce Center
C) European Union
D) North American Free Treaty
E) International Monetary Fund
Which of the following positions would be responsible for establishing the long-term
financial goals of the company, investing its funds and raising capital for the business?
A) cash manager
B) internal auditor
C) chief information officer
D) forensic accountant
E) treasurer
Belief in your ability to complete a task is known as ________.
A) drive
B) self-efficacy
C) self-actualization
D) rootedness
E) self-motivation
________ refers to managing a business in a way designed to occupy a particular place
in the minds of target customers.
A) Positioning
B) Vertical integration
C) Horizontal integration
D) Decentralization
E) Delayering
Identify the legislation that prohibits investment bankers from influencing stock
analysts and requires CEOs and CFOs to sign statements attesting to the accuracy of
their financial statements.
A) Reconstruction Finance Corporation Act
B) Public Utility Company Act
C) Ethics in Government Act
D) Sarbanes-Oxley Act
E) Financial Services Modernization Act
Aston Products Inc., a cosmetic research, development, and manufacturing firm,
conducts a cost-benefit analysis that identifies an underdeveloped area which has cheap
labor and low land costs. The firm decides to set up a factory in that area to take
advantage of the lower land and labor costs. While setting up the factory, the company
also develops infrastructure such as building roads, hospitals, and primary schools. This
is an example of ________.
A) philanthropy
B) the minimalistic view
C) affirmative action
D) strategic CSR
E) cap and trade
Salary differs from wages in that the salary ________.
A) falls under the purview of the Fair Labor Standards Act
B) does not fall under the purview of the Fair Labor Standards Act
C) is based on a fixed amount per year
D) relates to exempt employees
E) is paid by the unit of time
________ is a comprehensive approach of companywide policies, practices, and
procedures to ensure that every product meets quality standards.
A) Statistical process control
B) Quality assurance
C) Quality control
D) Quality directive
E) Corrective management
Developing strategies, establishing goals and objectives for the organization, and
translating those strategies and goals into action plans is part of the ________ function
of management.
A) leading
B) organizing
C) intermediating
D) motivating
E) planning
John decides to buy a new car. He compares many products and considers such aspects
as fuel efficiency, power, and size before finalizing a model. In this case, the new car is
an example of a(n) ________.
A) convenience product
B) expense item
C) specialty product
D) capital item
E) shopping product
________ are everyday individual goods and services that people buy frequently
without much conscious planning.
A) Convenience products
B) Shopping products
C) Expense items
D) Capital items
E) Specialty products
Arrangements by which channel partners coordinate their activities under the leadership
of one of the partners is termed as ________.
A) vertical integration
B) benchmarking
C) affirmative action
D) marketing systems
E) disintermediation
A country has a trade surplus when the ________.
A) value of its exports exceeds the value of its imports
B) exchange rate of its currency with other currencies is variable
C) exchange rate of its currency with other currencies is fixed
D) value of its imports exceeds the value of its exports
E) total flow of money into the country equals the total flow of money out of the
country
________ refers to a model suggesting that five core job dimensions influence three
critical psychological states that determine motivation, performance, and other
outcomes.
A) Job characteristics model
B) Management by objectives
C) Goal-setting theory
D) Theory X
E) Theory Y
Banking institutions that offer deposit accounts and focus on offering home mortgage
loans are known as ________.
A) merchant banks
B) retail banks
C) thrift banks
D) private banks
E) credit unions
Which of the following is an example of insider trading?
A) The marketing manager of a company is accused of using company resources for
personal use.
B) An executive receives a compensation comprising of cash, paid expenses, and shares
of the company.
C) An employee hacks the firm’s computer networks, systems, and databases to obtain
customer records so that he can sell the information to rival firms.
D) The chief executive officer of an IT company purchases shares in the company as he
learns that the company is being taken over by a leading, global IT firm.
E) A firm disseminates fraudulent information in chat rooms, forums, Internet boards,
and via email, with the purpose of causing a dramatic price increase in thinly traded
stocks of the company.
According to Tuckman’s model, in the ________ stage of team development, members
of the team are fully committed to the team’s objectives and the team achieves its full
potential in terms of task accomplishment.
A) forming
B) storming
C) norming
D) performing
E) adjourning
________ refer to a resource or capability a company must have before it can start
competing in a given market.
A) Assets
B) Economies of scale
C) Barriers to entry
D) Technological requirements
E) Fixed costs
Which of the following is a form of union security where an employer is allowed to hire
only union members?
A) closed shop
B) union shop
C) agency shop
D) open shop
E) voluntary shop
Compare and contrast product development with market development. Explain using an
example.
Discuss the steps team members and team leaders can take to prevent conflicts.
Compare and contrast accrual basis accounting and cash basis accounting.
Compare and contrast various types of budgets.
What is the difference between negative reinforcement and punishment?
Describe ‘SMART’ goals with an example.
Describe double-entry bookkeeping and the matching principle.