Business 100: Intro to Business Final Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. How do focus groups help companies in developing new products?

Question 2 2. Why do tariffs and export forces affect the global marketplace?

Question 3 3. Joe's supervisor has asked how long it will take for him to finish a project. Joe anticipates a 'best case' scenario of 4 hours, a 'worst case' scenario of 8 hours, and a 'probable' scenario of 5 hours. Using the formula to calculate 'Expected Time', Joe should tell his supervisor the project will take _____.

Question 4 4. What is the best explanation of ethics?

Question 5 5. Which of the following is a considered an advantage of bond financing?

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Question 6 6. Katherine is a recruiter who extends an offer of employment for an IT manager position at her company to Walter. Walter says that he is pleased to have the opportunity to have a chance at a management roll, but he will be unable to take the position unless he is given another week of vacation in his offer. The additional vacation time that he is requesting is an example of _____.

Question 7 7. John decides to open up a small Italian restaurant. John will face some macroeconomic conditions that could affect whether his business fails or is successful. Which of the following are macroeconomic conditions that could affect his business?

Question 8 8. A company using the Pac-Man defense to combat a takeover will MOST likely do which of the following?

Question 9 9. Which economic system is characterized by individual control of small businesses and government control of large, monopolistic companies?

Question 10 10. Why are functional structures used by an organization?

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Question 11 11. Which of the following would NOT be used by a business focused on greatly improving communication with both employees and customers?

Question 12 12. To find out the current level of production, what type of analysis will be performed?

Question 13 13. Don's Donuts needs to know what time of day the buttermilk bacon donut sells the most. What report will Don use?

Question 14 14. A company with 60 employees engages in government contract business and has revenue of $50,000,000. Why is this company subject to policies of affirmative action?

Question 15 15. Which of the following is NOT a step in the risk management process?

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Question 16 16. What is the price against which buyers compare the sales price of the product to the actual price?

Question 17 17. How many employees can manufacturing companies have and still be considered a small business in the United States?

Question 18 18. 'Smart people get 10 percent off' is an example of _____.

Question 19 19. in long-term financing, stock offerings can be used instead of a _____.

Question 20 20. What does a company use as a promotional goal that makes consumers choose one brand over its competition?

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Question 21 21. How did organized labor change during the Progressive Era?

Question 22 22. Michael, the majority shareholder of a company, decided to produce the company's balance sheet whose cash balance included the cash in his own bank account. Would Michael be allowed to do this by GAAP?

Question 23 23. What type of integration provides important information such as inventory levels, shipments, and customer data in real time?

Question 24 24. Susan is a manager who uses a hands-off approach that allows her subordinates to perform their duties without having to consult with her constantly. She believes in hiring well and allowing employees to work independently. What leadership style does she embrace?

Question 25 25. Why does the Federal Reserve require commercial banks to maintain reserves with them?

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Question 26 26. How might a marketer for snack products move consumers from the evaluation stage to the trial stage?

Question 27 27. A country can produce 10 bushels of wheat but will have to give up producing 15 bushels of corn. Assume that the value of a bushel of wheat equals the value of a bushel of corn. What is the opportunity cost for producing 100 bushels of wheat? Should the country produce wheat or corn?

Question 28 28. Which of the following is NOT one of the steps in the strategic planning process?

Question 29 29. Megastores Inc, a large company with a public stock offering, has a compliance-based code of ethics. Which group's practices would most likely influence their way of doing business?

Question 30 30. What federal government agency regulates securities such as stocks?

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Question 31 31. Behavior-based motivation says employees can be driven by _____.

Question 32 32. How does a supply that exceeds the demand impact the price?

Question 33 33. What tactic is employed by a target company if it attempts to dilute the value of the shares held by the acquiring company?

Question 34 34. According to this chart, what was the unemployment rate during the peak of the business cycle?

Question 35 35. An airline has employed an IT company to optimize their web service. In the airline's web service, you can purchase your ticket, as well as check in for your flight and purchase additional luggage space. Which of the following is essential if the company is in the phase of producing quality work the first time?

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Question 36 36. Mark is the marketing director for his company. What business technology would he use to help with his marketing?

Question 37 37. A procedure that details how to take an inventory is an example of a(n) _____ plan, while a promotional advertisement is an example of a(n) _____ plan.

Question 38 38. What is the main benefit of using RSS?

Question 39 39. How did the Equal Employment Opportunity Commission (EEOC) impact the Civil Rights Act of 1964?

Question 40 40. How is the Indemnity principle different from the Subrogation rights?

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Question 41 41. Don's Donuts sets its prices at 10% under local industry standards. Don uses what pricing strategy?

Question 42 42. Which of the following BEST describes a small business?

Question 43 43. From the point of view of a salesperson, what is the most frustrating role of an administrative assistant for the chief financial officer of a potential customer?

Question 44 44. Barry takes out a 12 month loan from a bank to buy some new office equipment. The bank requires that Barry put up the equipment he is purchasing as collateral. What type of credit arrangement is involved?

Question 45 45. Doc's Tomato sauce gives a local grocery store an allowance to help pay for their next newspaper ad as long as Doc's is advertised on the front. What is this an example of?

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Question 46 46. Jane and Thomas are disputing over methods for advancing their company's image. Thomas wants to use online social media, whereas Jane believes most of their customers are older and should be contacted by mail. A person from outside the company is brought to weigh in on both sides of the argument and move them towards a more constructive dialog. The mediator maintains an impartial stance and keeps extensive notes that she presents to Jane and Thomas to resolve their conflict. Which of these in this scenario is NOT common for mediators?

Question 47 47. How is the general journal different from the general ledger?

Question 48 48. What's one difference between a truck wholesaler and a drop shipper?

Question 49 49. Which of the following statements was the basis of the Great Man (or woman) theory prior to modern research on leadership?

Question 50 50. Which of the following is an inaccurate description of The Federal Reserve?

Business 100: Intro to Business Final Exam Instructions

Choose your answers to the questions and click 'Next' to see the next question. You can skip questions if you would like and come back to them later with the "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. You will lose your work if you close or refresh this page. Good luck!

Business 100: Intro to Business  /  Business Courses