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Business 0101

Mike is 65 years old and owns his home outright. He then gives his house as a guarantee for a loan. This situation can be referred to as a
Reverse Mortgage
At the equilibrium price how are the supply and demand curves
The two curves intersect at equilibrium price
Which section of the business plan evaluates competitors?
Marketing
In a free market with unlimited producers and consumers, what stops the competition from increasing prices of a product to levels they like?
Competition
Which of the following is true when goods are sent FOB Origin, Freight Prepaid and Charge Back?
Buyer owns goods in transit
Which of the following endorsements makes a check a negotiable instrument?
Blank Endorsement
Which of the following actions by the Federal Reserve will not help in reducing inflation?
Decreasing the interest rate charged to commercial banks
Recording of capital contributed by the owner as a liability ensures the adherence of principle of
Separate Entity
Activities which involve receiving and approving orders, shipping goods in a timely fashion, and collecting payment are known as which of the following?
Fulfillment management
For an indictment to be returned by a grand jury, a majority of the grand jury must find that a crime has been committed and that the evidence is sufficient to warrant the accused to stand trial. This is known as which of the following?
probable cause
When two parties agree to exchange currency at a stated rate at some point in the future, which of the following is at work?
A forward rate
is the rate at which two parties promise to exchange currency at a later date. This may be potentially advantageous if currency rates fluctuate widely.
An instrument which outlines the specific marketing activities a firm will undertake, including product feature, pricing, promotion, and service, is known as which of the following?
Tactical marketing plan
A firm’s tactical marketing plan lays out the specific actions that will be taken to market products or services. This can include product features, service plans, pricing, and promotions.
A compilation of laws at any level of government is which of the following?
code
Compilations of legislation at all levels of government are called codes. For instance, the statutes of the United States are known as the U.S. Code.
What is the term for the rights of creditors?
Liabilities
There are two rights to assets. These are the rights of creditors and owners. The rights of creditors are liabilities. The rights of owners is equity.
There are five basic elements of a contract. Which of the following is NOT one of these elements?
enforcability
The five basic elements of a contract are: offer, acceptance, consideration, capacity of parties to contract, and a legal purpose. Enforceability is not one of these elements
Different situations call for different speaking styles. Which speaking style is characterized by being authoritative and judgmental?
directive style
Directive style is authoritative and judgmental. It is used to give orders, exert leadership, pass judgment, or state opinions.
Though starting a corporation involves a lot more work and money, what is the main reason corporations are started?
A corporation can launch an IPO and gather funds from the public for its growth
What type of validity looks at an assessment and how it compares to other variables predicted by a particular theory?
Construct There are many types of validity. With regard to assessments in the classroom, “Test Validity” is used. There are three main types of Test Validity, these are content, criterion, and construct. Content validity – deals with the extent to which test content matches objectives. Criterion validity – considers the extent to which test scores agree with or predict an external standard. Construct validity – looks at an assessment and how it compares to other variables predicted by a particular theory.
What occurs if the opportunity is accepted?
: Exploitation The final stage of the entrepreneur framework is exploitation. Exploitation is the choosing an opportunity. Rejection is the decision to exploit.
Which of the following would be MOST helpful way a teacher can adapt her teaching strategy before teaching a lesson, for a student who has difficulty learning by listening?
Provide the student with lecture notes All of the preceding steps are helpful for students who have difficulty learning by listening. However, having the student use flash cards, take notes, and close her eyes and visualize the information, is more helpful during the lesson as opposed to before the lesson.
The document specifying the relationship between a corporation and the state in which the firm is incorporated is which of the following?
charter
The charter specifies the relationship between a corporation and the state in which the firm is incorporated. The bylaws specify the relationship between a corporation and its stockholders.
In the case of a floating interest rate loan taken by a person, if inflation drops the monthly installments would
Either remain the same or decrease
Which of the following is an example of an informal research method?
: Informal survey Papers and reports need to be carefully researched. This can include formal and informal research. An informal survey is informal research. The other answers are sources for formal research.
A system of salary payment that is based on an individual’s education, experience, knowledge, skills or specialized training is which of the following?
competency-based pay
knowledge-based pay
dividend
profit-sharing
knowledge-based pay
The added value that a given brand name gives to a product beyond the functional benefits provided is called:
a trademark
trading up
brand equity
brand saving
brand equity
The added value that a given brand name gives to a product beyond the functional benefits provided is called brand equity. Brand equity provides a competitive advantage and it has the ability to endure environmental changes.
A personal balance sheet and _____ are necessary for a personal budget.
A personal income statement.
A personal investment.
A personal asset.
A personal credit assessment.
A personal income statement
The personal budget is similar to a budget for a business. Before a personal budget can be created, a personal balance sheet and A personal income statement should be created. These will create a more accurate budget.
The configuration of a multiprocessing computer system in which one CPU manages the system and controls all resources and scheduling is which of the following?
symmetrical multiprocessing
master-slave multiprocessing
simultaneous thread multiprocessing
multicore processing
master-slave multiprocessing
A master-slave multiprocessing system is one in which one CPU manages the system and controls all resources and scheduling. Only the master may execute the operating system. Other CPUs are slaves, performing work assigned to them by the master.
What is necessary to earn money from investors?
Business plan.
Market strategy.
Operations plan.
Executive summary.
Business plan
A business plan addresses important questions about how a business will run. This should be completed before earning money for investors. The business plan will convince investors that the business will be effective.
Which of the following person’s studies resulted in the motivation/hygiene theory?
Herzberg
Woodward
Maslow
Davis
Herzberg
Frederick Herzberg’s motivation/hygiene theory has exerted great influence on managerial thinking. The results of his studies showed that when people feel good or satisfied in a job they mention factors intrinsic to the job itself. These motivation factors included achievement, recognition, work itself, responsibility, advancement and growth. Herzberg called these satisfaction motivators. The results also showed that when people were dissatisfied with the job, they talked about factors outside the job but related to it such as company policy and administration. There were called hygiene factors.
Which of the following is not a method of depreciation used in accounting?
Declining Balance
Straight-Line
Sum-of-the-Years-Digits Method
Appreciated depreciation method
Units-of-Production Method
A, B, C and E are method of depreciation used in accounting. There is no method called Appreciated depreciation method.
What is the first phase of the account process?
Clearing.
Processing.
Recording.
Preparatory phase.
Recording
There are three phases in the accounting process. They are recording, processing, and clearing. Recording is the first phase. It is focused on bookkeeping.
Goods placed by supermarkets at the checkout counter so that customers buy them while they wait to pay the bill are called
Specialty consumer merchandise
Durable consumer merchandise
Convenience merchandise
Impulse Merchandise
Non sought consumer merchandise
Impulse merchandise
refers to products that consumers do not intend to buy but due to their placement in supermarkets get enticed into buying. This can be seen with small, low cost but not required merchandise like candy which are placed at locations where the customer is sure to notice them.
What is Not a step in identifying business opportunity?
Market survey.
Preliminary evaluation.
Economic growth.
Selection of product or service.
Economic growth
Economic growth is an indicator. The other answers are steps in identifying opportunity. Contractual programs and success are the other steps.
A restriction placed upon the goods being sent to a country due to national security risk is known as which of the following?
Embargo.
Export control.
Boycott.
Direct export.
Export control
Export control is placed on the goods, technology, and services being sent to another country when there is a risk to the security of the exporting country. This is not a formal embargo, as exports may still be allowed but limited.
LIBOR (London interbank offer rate) is best defined as which of the following?
short-term interest rate for highest quality
international loans among international banks
long-term interest rate for highest quality
international loans among international banks
short-term interest rate for intermediate quality
international loans among international banks
long-term interest rate for lowest quality
international loans among international banks
LIBOR: is the short-term interest rate for highest quality international loans among international banks. The safest borrowers generally receive a rate that is ¾ to 1% above the LIBOR rate.
Which of the following is not an asset?
Stationary
Goodwill
Bills Payable
Accounts receivable
cash
Bills payable
are commitments that have to be honored by the company later and lead to an outflow of funds later. Hence these are not assets.
Economic resources are, in general, all the natural, human and manufactured resources that go into the production of goods and services. Which of the following is NOT one of these resource categories?
full production
capital
entrepreneurial ability
labor
Full production
means that resources should be allocated efficiently to make the most valuable contribution to total output. It is not a resource category. Resource categories include: land, capital, labor and entrepreneurial ability.
When a large number of American investors start to buy stocks in stock exchanges of foreign countries what happens to the exchange rate of that country’s currency versus the dollar?
The exchange rate of the foreign currency reduces.
The exchange rate of the foreign currency goes up
There is no correlation between the two
It depends on industries whose stocks are being
bought
The dollar appreciates versus the foreign currency
When more American investors are buying stocks in the foreign stock exchange, they require the foreign currency to do the same. This increases its demand and hence the exchange rate of the foreign currency goes up.
In order to ensure security, how often should user passwords be changed?
Once a year.
Every 120 days.
Every 30 days.
Every 90 days.
Every 90 days
It is recommended that user passwords be changed every 90 days. Administrative passwords should be changed more often.
Which of the following is the odd one out?
Verdana
Arial
Times New Roman
New York Times
Calibri
A, B, C and E are names of fonts. These decide how the characters that make up the word document appear. New York Times is the name of a newspaper.
Programs which run on a computer and which accomplish various tasks are known as which of the following?
Software.
Applications.
Hardware.
Peripherals.
Software
The various programs that run on computers are known as software. This can include your operating system and any word processing or web browsing programs.
While sending applications to several employers the most appropriate way to send them would be
to email the same copy to all the employers
to individually handwrite copies for each employer
to alter the applications keeping the requirements
of the employer in mind and highlighting the
relevant aspects
to send a photocopy
to fax the document to each of them
to alter the applications keeping the requirements of the employer in mind and highlighting the relevant aspects
While sending applications to several employers at the same time it is best to customize each of them for the employer. There are several qualifications that are more relevant for each employer, these need to be highlighted.
In developing a school curriculum, what would be the correct order of the following steps:
1.Establishing objectives for content.
2.Design the program outcomes.
3.Determine Classroom Activities.
4.Conduct a needs assessment.
4,2,1,3
When the Dow Jones rises 100 points the increase in percentage is always greater than the decrease in percentage when it falls by 100 points later. Why is this so?People have different expectations
It is a policy of the SEC
Computer software is programmed that way
The base in the case of the fall and the rise are
different.
It is due to values changing arbitrarily.
When considering the increase and decrease in terms of percentage the value used as the base is important. Here during the rise of 100 the base is smaller than during the fall of 100 later. This makes the former larger than the latter.
_________ is MOST likely a questioning clue word associated with the “analysis” higher order thinking skill of Bloom’s Taxonomy.
Use it to solve.
Why do you support.
Create.
Conclude.
Why do you support
There are a variety of questioning clue words associated with the different higher order thinking skills of Bloom’s Taxonomy. Conclude – Comprehension Use it to solve – Application Why do you support – Analysis Create – Synthesis
Most groups reach a decision in a predictable fashion. Which of the following phases of the decision-making process involves discussion of positions and airing all of the pros and cons fully?
The conflict phase
is the second phase of the process after the orientation phase. In the conflict phase, group members begin to discuss their positions on the problem. Disagreements are a natural part of this phase. The point is to air all the options and all the pros and cons fully.
A exchange rate offered on the condition that the promised currency be delivered in two days is known as which of the following?
Spot rate.
Pegged rate.
Firm rate.
Speculation rate.
Spot rate
Spot rates are exchange rates offered on the condition that the promised currency is delivered in two business days. The market on which these rates are traded is known as the spot market.
When choosing a password, which of the following is NOT considered a best practice?
Incorporate letters, numbers, and special
characters.
Create a password that is at least 7 characters.
Choose something easy to remember, such as
your birthdate.
Do not reuse your previous password.
Choose something easy to remember,
such as your birthday When choosing a password, avoid choosing something that contains personal information such as birthdates or children’s names. This information is easily linked to you, and makes your password vulnerable.
Which of the following is a specific business idiom?
Over my head.
Bottom line.
Pulling my leg.
Best foot forward.
Bottom line
All of the answers are examples of idioms. Bottom line is a business idiom. Idioms should be used carefully and not with the people who speak English as a second language.
Which of the following would be the least appropriate way of assessing what students have learned in a business marketing course?
1) Make the students write a report on how they
would frame a strategy to market a product
whose details are provided by the teacher
2) Use a simulation where students form a team
that has to market a product defined by the
teacher
3) Write a business plan explaining how a
product would be marketed and its success
ensured for a prospective venture capitalist
4) Make the students take a subjective test
based on the various marketing concepts they
have learned during the course
5) Invite a person from the business community
to come to class and evaluate ask different
teams to justify the marketing strategies they
have created for a product
Explanation:
Merely using a subjective test is only going to bring forth the concepts that students have learned and the best at it would be the one who can remember them by rote. Instead, if a more practical and interactive way of testing students is used it will actually show whether they are capable of implementing the basic concepts and provide a solution for a real life problem.
What are people who use look-alike sites and email formats to get personal financial information called?
Sharks
Traps
Trojans
Virus
Phishers
Explanation:
Phishers is the term used for the description given. They can easily trick people to revealing their confidential financial information online and are now emerging as the latest threat from which financial institutions have to deal with.
The total market value of all final goods and services produced in the economy in one year is called the:
national income
net national product
gross national product
disposable income
Gross national product (GNP) measures the value of annual output. It is a monetary measure. Output must be counted only once to correctly measure GNP.
Which of the following features of a software allows an editor to make changes while editing so that the original author can later choose to accept the change or not?
Macro
Reviewer
Edit Macro
Tracking
Highlighting
The tracking
feature shows the changes made in a word processor document separately as reviews. These can be accepted or rejected as the original author wishes.
A business report is any factual, objective document that serves a business purpose. Which of the following statements about business reports is least accurate?
Make business reports as long as possible.
Check the facts of the report.
Reports are a management tool.
Give evidence for conclusions in the report.
This is the least accurate statement.
Business reports should be as concise as possible. The information should be clear and convenient. Readers of the report should be told only what they need to know and the report should be presented in a way that is geared to their needs.
Which of the following statements about demographics is least accurate?
1) Demographics are the clearest of all the
external sources of innovation.
2) Demographics have known and almost
certain lead times.
3) Demographics have the most predictable
consequences.
4) Demographics are ambiguous.
This is not accurate. Demographics have the most predictable consequences. They are therefore unambiguous
What occurs from staring at the computer screen for long periods of time?
CVS.
CBIS.
Carpal tunnel.
I/O
CVS Computer vision syndrome
(CVS) occurs when someone stares at a computer screen for a long period of time. The symptoms include headaches, blurred vision, light sensitivity and difficulty focusing.
What is an employee evaluation based on reviews by supervisors, coworkers, partners, subordinates, clients and customers called?
360 degree performance evaluation
Rubric
All inclusive evaluation
Exclusive evaluation
Overall Performance Matrix
The 360 degree evaluation
is a common tool in human resource management. It is a mechanism for evaluating someone’s performance based on feedback from everyone with whom the individual comes in contact—supervisors, coworkers, partners, subordinates, etc.
In terms of the structural requirements for entrepreneurship in an existing business, which of the following would be least useful?
1) organizing the new entrepreneurial
business to be closely integrated with the old
business
2) making a special location for the new venture
measuring the returns on innovation differently
from the existing business
3) making a person or a component group held
clearly accountable
organizing the new entrepreneurial business to be closely integrated with the old business

This would be the least useful structural component. The new entrepreneurial component has to be organized separately from the old and existing business. This helps the new and innovative component to avoid burdens that it cannot yet carry.

How could business education be promoted among children and their parents within a given locality around a school that plans to start a new business education department?
1) Use the local newspaper
2) Create student groups that work together
3) Tell every student’s parent to spread the
message
4) Hold special seminars in association with the
businesses in the locality to explain to the
participants how important business education is
5) Visit businesses in the locality and explaining
to the people who work there how important
the business education courses are in job
progress
Hold special seminars in association with the businesses in the locality to explain to the participants how important business education is
Explanation:
To promote a new business education department being started by a school they should join with the local business community to hold seminars where people can participate and the relevance of a business education can be explained in great depth by speakers from the business who require skilled and qualified employees rather than semi-skilled ones.
During what stage of the new product process are product prototypes created and tested in the lab and on consumers?
Development.
Market testing.
Commercialization.
None of the above.
Development
There are many steps that must be followed to help avoid failures when it comes to new products. Of the preceding: Development – Product prototypes are created and tested in the lab and on consumers. Market testing – Product is tested as well as the marketing strategy in the marketplace on a small scale. Commercialization – Product is positioned and offered in the marketplace.
Which of the following types of interviews focus on feelings?
evaluation interview
job interview
persuasive interview
exit interview
An evaluation interview
takes place when a supervisor gives an employee feedback on his or her performance. They may also discuss the employee’s long-term aspirations and general concerns. Content, critical and empathic listening skills may all be required.

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