Archives: Quiz

Which of the following components of Hall’s “silent language” accounts for the most variety of problems in business negotiations across cultures? A.Time B.Space C.Friendship patterns D.Material possessions The America-First Corporation has decided to safeguard control of its firm-specific advantages as […]

The __________ is defined as the ability to sustain a business based on a very small volume of sales to a global niche segment. A.chasm B.”long tail” phenomenon C.diffusion process D.CAGE concept According to Keegan, the Exxon slogan of “Put […]

Trade areas in which barriers have recently been dismantled and exchange rates fluctuate are ESPECIALLY vulnerable to the emergence of: A.piracy. B.gray trade. C.counterfeiting. D.knockoff products. The America-First Corporation has decided to enter the European market. While the firm does […]

Step five of global market planning is: A.to evaluate the local situations in various countries. B.to formulate the proposed global strategy. C.to get the proposed strategy evaluated at the local level to predict the likely effects of the strategy changes […]

The America-First Corporation has traditionally done quite well in its Canadian endeavors. In part their success may be explained by the fact that both the U.S. and Canada are best described by: A.strong uncertainty avoidance/masculine. B.strong uncertainty avoidance/feminine. C.weak uncertainty […]

The key to success of the globally standardized products is not: A.because they tend to be stronger on the intangible extras. B.because they the are best-value products. C.that they embody the best in technology. D.that every consumer wants the same […]

_____ are boxed “inserts” on the screen that pop up as you arrive on the Internet or at a Web site. A.Search boxes B.Target boxes C.Eye blinders D.Web advertisements The America-First Corporation has employed Hofstede’s cultural dimension concept to help […]

Those middlemen that sell directly to the ultimate consumer are called: A.agents. B.brokers. C.wholesalers. D.retailers. Porter’s concern with buyer and supplier power relate to John Kenneth Galbraith’s concept of: A.monopoly. B.countervailing power. C.local control. D.cartel dislocation. Answer: B. Which of […]

One of the best examples of exceptions to the traditional international product cycle concept can be found in America’s continuing dominance in the area of: A.automobile production. B.home entertainment. C.computer design. D.textiles. The global marketing manager will do all of […]

In which of the following roles is the marketing manager PRIMARILY required to add knowledge of the culture and behaviors of foreign customers to his or her basic marketing skills? A.Global management role B.Export manager role C.Local marketing abroad role […]

The Abercrombie and Fitch Corporation is active in many countries where illiteracy is common. Under such circumstances, the firm would probably seek to disseminate product knowledge by emphasizing the use of which medium? A.Television B.Newspapers C.Transit advertising D.Radio The GREATEST […]

When entering foreign markets, Samsonite Corporation typically targets the quality-conscious niche. The firm, which enjoys a strong brand image, typically prices above its local and foreign rivals. Samsonite apparently accepts the validity of the: A.price-quality relationship. B.price-volume relationship. C.price-elasticity effect. […]

A new factor that has encouraged regionalization is the insight that: A.customer needs and preferences seldom differ markedly between regions. B.understanding customers in different parts of the world does not require any face-to-face interaction. C.even in the age of the […]

The best way to handle objections is to avoid having them raised. In order to accomplish this goal, the salesperson should pay extra attention to: A.appearance. B.preparation. C.domination. D.enthusiasm. First Southwest Corporation is a heavy user of express mail to […]

The America-First Corporation has experienced problems in finding distributors and other intermediaries in Japan. The Japanese have “institutionalized” Galbraith’s concept of countervailing power in the form of: A.buying cartels. B.supplier blocs. C.keiretsus. D.kabuki blocs. Segmentation in most Asian markets does […]

Firms seeking to gain some tariff exemptions while reducing the corporate tax rate are likely to invest in one of China’s: A.special economic zones. B.free ports. C.commune zones. D.protected investment zones. The collection of local and global brands owned by […]

Based on Hofstede’s classification, Japan is low on both: A.power distance and masculinity. B.risk tolerance and context. C.individualism and power distance. D.risk tolerance and individualism. Which statement is FALSE about the practice of outsourcing? A.Politicians in the U.S. prefer outsourcing […]

In most of its foreign markets, the American Corporation feels that its major task is the development of a marketing infrastructure capable of supporting its marketing efforts. The firm is primarily active in: A.emerging markets. B.saturated markets. C.new growth markets. […]

The sale in one country market generates demand in another country. This phenomenon is best described as: A.demand spillover. B.counterfeit. C.brand extension. D.gray trade. Which of the following is often used to identify potential distributors in a new foreign market? […]

To gain the scale advantages associated with globalization, standardization: A.is the norm only for global products and brands. B.does not include advertising, pricing, and other elements of the marketing mix. C.has not been the norm until recently challenged by antiglobalization. […]

Face-to-face interviews are prone to bias because of: A.focus group analysis. B.demand characteristics. C.trade survey. D.direct observation. Which of the following entry mode is advisable to open up the doors to Latin America’s clubby business world? A.Licensing B.Direct investment C.A […]

All of the following companies have used intense personal efforts in advertising, publicity, and public relations EXCEPT: A.Compaq Computers. B.Apple. C.Virgin Airlines. D.Microsoft. Different parts of a global firm’s “value chain” are located in different parts of the world under […]

Boeing Corporation has decided to launch some of its more advanced products in Russia. The firm PROBABLY selected this strategy in order to: A.reap first-mover advantages. B.avoid strong competition from domestic brands. C.justify the use of penetration pricing. D.reach the […]

The Fox Corporation depends upon the foreign distribution of its films. The firm is using which of the following approaches to foreign entry? A.Licensing B.Exporting C.Strategic alliance D.Direct foreign investment “Computer nerds” in the PC category are a good example […]

In mature markets, the primary distribution problem is typically related to: A.the lack of a sophisticated distribution system. B.the difficulty and expense of gaining access to an appropriate channel. C.poor transportation facilities. D.the lack of efficient communication systems. Before 1997, […]

The Gap Corporation traditionally makes its sales forecasts by soliciting a series of “rounds” of numerical forecasts from a pre-selected number of experts. The process continues until the experts agree on a single forecast amount. The firm is employing the: […]

Perceptions or image that target customers have of a product or service is referred to as: A.sub-marketing. B.market segmentation. C.product positioning. D.the diffusion process. As a firm globalizes, its most direct competitors tend to be: A.foreign entrants. B.domestic competitors. C.domestic […]

Which of the following components of the promotional mix is the most difficult to globalize? A.Personal selling B.Direct marketing C.Advertising D.Public relations The marketing issues raised by global products are similar, although much more complex, compared to those raised by: […]

Partitioning a given market into similar customer groupings for which uniform marketing strategies can be used is called: A.homogenization. B.market division. C.sub-marketing. D.market segmentation. The America-First Corporation has pled guilty to dumping charges in some of its markets. The MOST […]

_______________________ is the estimated sales price of damaged goods minus the cost of making the sale. _________________________ is the use of electronic communication to transfer cash from one party to another. Answer: Electronic fund transfer (EFT) When the maker of […]

The following information is available to you for the Wooden Company: From the information provided, calculate Wooden’s profit margin ratio for each of the three years. Comment on the results, assuming that the industry average for the profit margin ratio […]

In this chapter, you examined several short-term managerial decision tasks. Identify (list) any three of these types of decision tasks: _________________________ _________________________ _________________________ A company had net sales of $741,800. Its cost of goods sold must have been _________ to […]

___________________ are promises of payment from customers to sellers. ______________ users of accounting information are not directly involved in running the organization. Answer: External The process of allocating the cost of a natural resource to the period when it is […]

_____________________ preferred stock has a feature that allows preferred stockholders to share with common stockholders in any dividends paid in excess of the percent or dollar amount stated on the preferred stock. Duval, Inc. budgets direct materials at $1/liter and […]

A company purchases a machine for $1,000,000. The machine has an expected life of 9 years and no salvage value. The company anticipates a yearly net income of $60,000 after taxes of 30% to be received uniformly throughout each year. […]

Distinguish between selling expenses and general and administrative expenses. Explain the difference between the single-step and multiple-step income statements. Answer: A single-step income statement format includes cost of goods sold as another expense, and shows only one subtotal for total […]

__________________________ refer to costs incurred in a period that are both unpaid and unrecorded. ______________________ refer to revenues earned in a period that are both unrecorded and not yet received in cash (or other assets). Explain how to compute book […]

_____________________________________ consist of people, records, methods, and equipment that collect and process data from transactions and events, organize them in useful reports and communicate results to decision makers. Stockholders who are not officers or managers of a corporation do not […]

Explain the purpose and format of the statement of cash flows. Also describe its relevance to decision makers. ____________ are short-term, highly liquid investment assets that are readily convertible to a known amount of cash. Answer: Cash equivalents List the […]

How is a classified balance sheet different from an unclassified balance sheet? List the order of the usual classifications on a classified balance sheet. Stock that has been issued and is held by stockholders is _________________________ stock. Answer: Outstanding What […]

The _____________________ is a measure of how quickly a merchandiser sells its merchandise inventory. The current portion of long-term debt is classified with the _________________________. Answer: Current Liabilities Describe the flow of labor costs in a job order costing system, […]

What are the four steps in accounting for production activity in a period? Trend percentage is calculated by dividing _________________________ by ___________________________ and multiplying the result by 100. Answer: Analysis period amount; base period amount When preferred stock is cumulative […]

A company had total assets of $350,000 and total liabilities of $101,500 and total equity of $248,500. Calculate its debt ratio. What is operating leverage? How can the degree of operating leverage be used in analyzing changes in sales? Answer: […]

Identify whether each of the following items 1 through 10 would on appear on the bank side or the book side of a bank reconciliation. 1) Bank debit memorandum 2) Deposits in transit 3)The bank incorrectly recorded a check for […]

Explain the difference between short-term and long-term investments. Cite examples of each. _____________________ is an estimate of an asset’s value at the end of its benefit period. Answer: Salvage value (or residual value or scrap value) The _________________ account is […]

A ______________________ income statement includes cost of goods sold as another expense and shows only one subtotal for total expenses. _______________ bonds are bonds that mature at more than one date, often in a series, and thus are usually repaid […]

_____________________ refers to the insufficient capacity of a company’s plant asset to meet the company’s productive demands. Describe the purpose of vertical financial statement analysis and how it is applied. Answer: Vertical financial statement analysis is used to evaluate each […]

Gross pay less all deductions is called ____________________. What are two questions that an owner might be able to answer by looking at accounting information? Answer: Some possible questions are: 1) How, what, when and how much must be purchased? […]

The _______________________ is a record containing all accounts used by a company. An _______________ is a series of equal payments at equal time intervals. Answer: Annuity. The statement of cash flows is divided into three sections called the _____________, _____________, […]

_______________ is the process of transferring journal entry information to the ledger. What is the segment return on assets ratio? What is it used for? Answer: The segment return on assets is segment operating income divided by segment average assets. […]