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BUSN 115 Week 2 Quiz
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BUSN 115 Week 2 Quiz

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Question 1. Question : (TCO 1)   _____ is money that an organization brings in through the sale of its goods and services.

 

Profit

 

Revenue

 

Sales

 

Capital investment

 

Finance

Question 2. Question : (TCO 1) Which of the following statements is true regarding business mindset?

 

It involves seeing the business from the outside in.

 

It is incompatible with corporate responsibility.

 

It involves appreciating the challenges a company faces in satisfying customer needs.

It involves acknowledging that businesses always benefit society.

 

It involves ignoring one's customer experiences.

Question 3. Question : (TCO 1) _____ audit the financial reports of public companies as required by law.

 

Internal accountants

 

External auditors

 

Credit managers

 

Management accountants

Question 4. Question : (TCO 1) Which of the following is a characteristic feature of economic contraction?

 

Decreased unemployment rates

 

Decreased consumer spending

 

Increased income

 

Increased employment

 

Question 5. Question : (TCO 1) Inflation is a major concern for consumers, businesses, and government leaders, because it _____.

 

is a precursor to recession

 

decreases the purchasing power of consumers

 

decreases the production costs

 

increases the demand for commodities

 

decreases the opportunity cost of holding cash balances

 

Question 6. Question : (TCO 1) _____ taxes are levied on earnings of individuals to help fund Social Security, Medicare, and unemployment compensation.

 

Excise

 

Payroll

 

Sales

 

Income

 

Property

Question 7. Question : (TCO 1) _____ is the process of influencing and motivating people to work willingly and effectively toward common goals.

 

Organizing

 

Leading

 

Planning

 

Directing

 

Controlling

 

 

Question 8. Question : (TCO 1)  A(n) _____ is a specific, short-range target or aim.

 

mission

 

tactic

 

strategy

 

objective

 

vision

 

Question 9. Question : (TCO 1) _____ is the management function of keeping a company's activities on track toward previously established goals.

 

Organizing

 

Leading

 

Planning

 

Motivating

 

Controlling

 

Question 10. Question : (TCO 2) _____ limit the amount of particular goods that countries allow to be imported during a given year.

 

Import subsidies

 

Embargoes

 

Import quotas

 

Import tariffs

 

Restrictive import standards

Question 11. Question : (TCO 2) 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.

 

World Trade Organization

 

World Commerce Center

 

European Union

 

North American Free Treaty

 

International Monetary Fund

Question 12. Question : (TCO 2) _____ refers to buying goods or services from a supplier in another country.

 

Franchising

 

Importing

 

Licensing

 

Partnering

 

Intermediating

 

Question 13. Question : (TCO 2) The use of unpublicized information that an individual gains from the course of his or her job to benefit from fluctuations in the stock market is called _____.

 

a code of ethics

 

whistle-blowing

 

insider trading

 

utilitarianism

 

strategic CSR

Question 14. Question : (TCO 2) An employee at Cleveland Medical Center informs the media of certain health law violations and negligence that lead to documented illness and even death in certain cases. This is an example of _____.

 

insider trading

 

whistle-blowing

 

affirmative action

 

consumerism

 

strategic CSR

 

Question 15. Question : (TCO 2) Which of the following statements is true regarding ethical decision making?

 

When an employee is unable to make a decision because more than one side of an issue can be supported with valid arguments, it is called an ethical lapse.

The disclosure of information by a company insider that exposes unethical behavior by others within the organization is called an ethical lapse.

Stakeholders' needs often conflict, requiring managers to make tough decisions about resource allocation.

Making objective decisions will lead to ethical lapses.

 

When the question of what is right and what is wrong is clear, ethical decisions are easy

 to implement.

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