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Which of the following items is found in the Model

Question 2 (1 point)Which of the following items is found in the Model Business Corporation Act issued by the American Bar Association?Question 2 options:A)Information about salaries of employees in a corporationB)Guidelines for hiring new employees in a corporationC)Information about the personal assets of a corporation’s stockholdersD)Provisions for promoting an employee within a corporationE)Provisions for the regulation of internal corporate affairsSaveQuestion 3 (1 point)_____ is an element of the management activity in a business.Question 3 options:A)ProductionB)AdvertisingC)Sales promotionD)Personal sellingE)PublicitySaveQuestion 4 (1 point)Catalina owns a small restaurant and is solely responsible for its debts and liabilities. She is also entitled to all the profits the restaurant makes after paying off taxes and other expenses. Her business is an example of a(n):Question 4 options:A)joint venture.B)S corporation.C)sole proprietorship.D)partnership.E)C corporation.SaveQuestion 5 (1 point)_____ is defined as the activities that individuals, groups, and organizations undertake to protect their rights as customers.Question 5 options:A)ConsumerismB)Civil rightsC)ProtectionismD)Conspicuous consumptionE)ShoppingSaveQuestion 6 (1 point)Norton is a human resource manager at a large multinational company. After a drastic drop in revenue, his company thinks of ways to correct the situation. At a meeting with the top management, the CEO suggested that the company should reduce its workforce by 20 percent. This move would help the company cut costs and continue functioning on the current projects. In this scenario, which of the following strategies is Norton’s company planning to use?Question 6 options:A)Off shoringB)OutsourcingC)Crowd sourcingD)FranchisingE)DownsizingSaveQuestion 7 (1 point)_____ are often the Small Business Administration’s principal means of providing direct management assistance to small businesses and entrepreneurs.Question 7 options:A)Local Chambers of CommerceB)Small Business Development CentersC)Service Corps of Retired ExecutivesD)Small Business InstitutesE)Active Corps of ExecutivesSaveQuestion 8 (1 point)Which of the following is an international trade alliance between 21 nations that promotes open trade and economic and technical cooperation among its member nations?Question 8 options:A)General Agreement on Tariffs and Trade (GATT)B)Asia-Pacific Economic Cooperation (APEC)C)North American Free Trade Agreement (NAFTA)D)European Union (EU)E)Association of Southeast Asian Nations (ASEAN)SaveQuestion 9 (1 point)Which of the following organizations funds programs to train the hard-core unemployed so that they can find jobs and support themselves?Question 9 options:A)Transparency InternationalB)Boston Consulting GroupC)National Alliance of BusinessmenD)National Business Ethics OrganizationE)British Financial ServicesSaveQuestion 10 (1 point)Which of the following is a reason behind the failure of small businesses?Question 10 options:A)OvercapitalizationB)ReputationC)Managerial experienceD)Poor business conceptE)High costs of start-upSaveQuestion 11 (1 point)In the context of corporations, what is a white knight?Question 11 options:A)A more acceptable firm that is willing to acquire the firm threatened by a hostile takeoverB)An attempt to fend off a hostile takeover by selling stock at prices below the market valueC)An attempt to fend off a hostile takeover by requiring the deal to be approved by a majority of shareholdersD)An attempt to fend off a hostile takeover by raising capital through an initial public offeringE)A group of investors who have borrowed money to acquire a firmSaveQuestion 12 (1 point)In the process of starting a business, the step that immediately succeeds the development of a business plan involves:Question 12 options:A)organizing resources like labor and supplies.B)developing some general business ideas.C)deciding an appropriate legal form of business ownership.D)promoting the business to the customers.E)filing for tax returns for the business with the Internal Revenue Service.SaveQuestion 13 (1 point)The American economic system is best described as _____ because the government regulates business to preserve competition and protect consumers and employees.Question 13 options:A)scientific socialismB)pure communismC)mixed MarxismD)modified capitalismE)pure capitalismSaveQuestion 14 (1 point)Which of the following is an advantage for small businesses that choose to enter the retailing industry?Question 14 options:A)Retailing is a relatively difficult field to gain entry.B)Retailing requires a large capital investment in the initial stages.C)Retailing allows small business to focus on specific groups of consumers.D)Retailing requires sophisticated machinery and technical expertise.E)Retailing suffers from heavy competition and losses only in the initial stages.SaveQuestion 15 (1 point)Identify the less-developed country from among the following.Question 15 options:A)The United StatesB)New ZealandC)Great BritainD)SomaliaE)CanadaSaveQuestion 16 (1 point)Which of the following can be best defined as a form of licensing in which a company agrees to provide another company a name, logo, methods of operation, advertising, products, and other elements associated with a business in return for a financial commitment and the agreement to conduct business in accordance with their standard of operations?Question 16 options:A)FranchisingB)OutsourcingC)Joint ventureD)Strategic allianceE)Direct investmentSaveQuestion 17 (1 point)Which of the following demographic trends has made health care and financial planning industries attractive for small businesses in the United States?Question 17 options:A)Decreasing population of millennialsB)Increasing income among Generation XC)Increasing aged baby boomers who are wealthyD)Reducing entrepreneurial spirit among young generationsE)Increasing imports into the economySaveQuestion 18 (1 point)What is the following is true of ethics and social responsibility in business?Question 18 options:A)Ethical conduct and corporate social responsibility are linked to increased profits.B)Businesses do not need to consider social values in the contemporary scenario.C)Investors and retired employees remain unaffected in case of scandals.D)Businesses’ reputations depend solely on their profits.E)Business misconduct is likely to be widely excused if it enhances firms’ profits.SaveQuestion 19 (1 point)Which of the following statements is true of a partnership?Question 19 options:A)The partners will not be held responsible for the actions of each other.B)All the partners will have limited liability.C)The business will face fewer regulatory controls than a corporation.D)All partners need to submit quarterly financial statements to stockholders.E)The owners will tend to have lower earning power than sole proprietors.SaveQuestion 20 (1 point)Which of the following is a true statement about the European Union?Question 20 options:A)It is trying to create opportunities to trade with South America.B)It is working toward the creation of a standardized currency.C)It is striving to impose customs checks within Europe.D)It is working toward the abolition of import duties.E)It is trying to increase value-added taxes.SaveQuestion 21 (1 point)Advertising, personal selling, coupons, and sweepstakes are forms of the _____ aspect of marketing activities.Question 21 options:A)financeB)promotionC)productionD)fundraisingE)social responsibilitySaveQuestion 22 (1 point)Codes of ethics foster ethical behavior by:Question 22 options:A)highlighting the religious implications of behaving in an unethical manner.B)limiting the opportunity to behave unethically by providing punishments for violations of the rules and standards.C)making the employees understand that they should use their own judgment to determine if an action is ethical.D)pointing out to the employees that ethical behaviors are subjective and are dependent on social perceptions.E)encouraging employees to be more competitive and profit-oriented.SaveQuestion 23 (1 point)Lever Brothers changed the formula of its bar soap to match different countries’ water conditions and washing habits. This exemplifies a(n):Question 23 options:A)globalization strategy.B)outsourcing strategy.C)strategic alliance.D)multinational strategy.E)joint venture.SaveQuestion 24 (1 point)In a limited partnership:Question 24 options:A)the partners can operate the business only for limited time period.B)the profits earned by the owners are limited by government regulations.C)all the partners have limited liability.D)at least one partner has unlimited liability.E)the partners are free from any liability for the debts of the business.SaveQuestion 25 (1 point)One role of the Federal Trade Commission’s Bureau of Consumer Protection is to protect consumers from _____.Question 25 options:A)price riseB)fraudulent practicesC)competitionD)misuse of resourcesE)whistleblowingSaveQuestion 26 (1 point)The purchase of overseas production and marketing facilities is an example of _____.Question 26 options:A)licensingB)contract manufacturingC)using an export agentD)direct investmentE)exportingSaveQuestion 27 (1 point)Which of the following statements is true?Question 27 options:A)Business ethics relates to an individual’s values, principles, and standards of conduct.B)The acceptability of behavior in business is determined only by the organization in question.C)Social responsibility and social ethics do not mean the same thing.D)Businesses should only make a profit rather than consider the social implications of their activities.E)Most unethical activities within organizations are not supported by an organizational culture that encourages employees to bend the rules.SaveQuestion 28 (1 point)Which of the following acts amounts to bullying?Question 28 options:A)Trading within insidersB)Discrediting others’ ideas and opinionsC)Lobbying for or against someoneD)Mediating as a third partyE)Buying or selling of stocks by insidersSaveQuestion 29 (1 point)A manager attempting to take credit for a subordinate’s ideas is engaging in a type of_____.Question 29 options:A)conflict of interestB)plagiarismC)whistleblowingD)misplaced loyaltyE)capture bondingSaveQuestion 30 (1 point)Which of the following has become the first communist country to make strong economic gains by adopting capitalist approaches to business?Question 30 options:A)SingaporeB)IndiaC)ThailandD)ChinaE)JapanSaveQuestion 31 (1 point)Common stockholders within a corporation:Question 31 options:A)act as the board of directors.B)are completely isolated from its operations.C)have the right to make a cumulative claim to dividends.D)are restricted from exercising preemptive rights.E)receive dividends after preferred stockholders.SaveQuestion 32 (1 point)According to the National Business Ethics Survey, _____ is the number one area of misconduct observed in the workplace.Question 32 options:A)plagiarismB)discriminationC)abusive behaviorD)misuse of company timeE)stealingSaveQuestion 33 (1 point)A corporation doing business in the state in which it is chartered is known as a(n) _____.Question 33 options:A)vertical corporationB)horizontal corporationC)domestic corporationD)quasi corporationE)alien corporationSaveQuestion 34 (1 point)A nation’s _____ can be best defined as the difference in value between its exports and imports.Question 34 options:A)balance of importB)balance of exportC)balance of tradeD)positive trade surplusE)negative trade deficitSaveQuestion 35 (1 point)Which of the following can be best defined as a corporation that operates in several countries but without significant ties to any of them?Question 35 options:A)A licensorB)An exporterC)A monopolist corporationD)A multinational corporationE)A contract manufacturing corporationSaveQuestion 36 (1 point)When an entrepreneur takes out a loan from a bank, the bank will require him or her to put up _____, a financial interest in the property or fixtures of the business, to guarantee payment of the loan.Question 36 options:A)collateralB)venture capitalC)trade creditD)business planE)cash flow statementSaveQuestion 37 (1 point)Economic contraction is said to have occurred when:Question 37 options:A)GDP increases.B)spending declines.C)jobs increase.D)inflation decreases.E)unemployment falls.SaveQuestion 38 (1 point)The assurance of both satisfactory quality and service at a fair price is a part of the consumer’s right to _____.Question 38 options:A)chooseB)be heardC)be informedD)safetyE)considerSaveQuestion 39 (1 point)Which of the following forms of business ownership is directly linked to the life of its owner?Question 39 options:A)A sole proprietorshipB)An S corporationC)A C corporationD)A cooperativeE)A franchiseSaveQuestion 40 (1 point)Abusive behavior is difficult to assess and manage because of:Question 40 options:A)the debate surrounding the acceptability.B)ethical issues that often emerge from conflict.C)different rating companies.D)diversity in culture and lifestyle.E)the fact that they lead to higher levels of unemployment.SaveQuestion 41 (1 point)In the history of the American economy, the period following the Industrial Revolution was known for an increasing emphasis on:Question 41 options:A)services.B)artisanship.C)manufacturing.D)agriculture.E)information.SaveQuestion 42 (1 point)A(n) _____ exists when a country is the most efficient producer of an item.Question 42 options:A)comparative advantageB)comparative disadvantageC)absolute advantageD)absolute disadvantageE)domestic advantageSaveQuestion 43 (1 point)_____ is the price at which the number of products that businesses are willing to supply equals the number of products consumers are willing to purchase at a point in time.Question 43 options:A)Bundled priceB)Equilibrium priceC)Discount priceD)Competitive priceE)Maximum retail priceSaveQuestion 44 (1 point)Which of the following businesses has created a majority of net new jobs annually?Question 44 options:A)Multinational corporationsB)Publicly traded companiesC)Small businessesD)ConglomeratesE)Public sector holdingsSaveQuestion 45 (1 point)Which of the following traits will help entrepreneurs succeed?Question 45 options:A)Risk aversionB)IntoleranceC)FrugalityD)ImpulsiveE)NeuroticismSaveQuestion 46 (1 point)Which of the following is an accurate description of dividends?Question 46 options:A)They indicate the money invested by sole proprietors in their business.B)They refer to profits in a general partnership.C)They indicate the capital invested by each partner in a limited partnership.D)They are cash payments received through distribution of profits in a corporation.E)They indicate the amount of tax the incorporators of a business need to pay annually.SaveQuestion 47 (1 point)Which of the following is true of a free market system?Question 47 options:A)It is different from laissez fair capitalism.B)In a free market, a government regulates business.C)It is also called modified capitalism.D)In a free market system, all economic decisions are made without government intervention.E)In a free market system, central government planning determines what goods and services satisfy citizens’ needs.SaveQuestion 48 (1 point)United Movies Inc., a movie production company, and Fox Apparel, a premium clothing brand, joined their businesses together. This is an example of a _____.Question 48 options:A)vertical mergerB)limited partnershipC)sole proprietorshipD)horizontal mergerE)conglomerate mergerSaveQuestion 49 (1 point)Which of the following acts includes a whistleblower bounty program?Question 49 options:A)The Clayton ActB)The Sherman Antitrust LegislationC)The Celler-Kefauver ActD)The Hobbs ActE)The Dodd-Frank ActSaveQuestion 50 (1 point)Which of the following reasons makes retailing an attractive industry for small businesses?Question 50 options:A)Retailing eliminates the need for any entrepreneurial skills.B)Retailing offers high barriers to entry.C)Retailing eliminates the need to engage in active interactions with the final customers.D)Retailing requires low initial financing.E)Retailing limits a firm’s need to focus on specific groups of consumers.

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