Questions on Management, Business, and Finance

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1) A business should be managed ethically to maintain a good reputation.

| A.  True|
| B.  False|
| |
2) A business should be managed ethically to reduce employee turnover.

| A.  True|
| B.  False|
| |
3) A business should be managed ethically to do the right thing for all stakeholders.

| A.  True|
| B.  False|
| |
4) The sole purpose of accounting is to help managers evaluate the financial condition of the firm so that they may make better decisions.

| A.  True|
| B.  False|
| |
5) Investors trading online:

| A.  buy and sell securities without using a brokerage firm. | | B.  generally avoided the market downturn of the early 2000s. | | C.  receive more advice than offered by traditional stockbrokers. | | D.  do their own research and make their own investment decisions. | | |

6) Accountants do most of the work involved in recording financial events and transactions, but the actual classifying and interpreting of this data is left to financial managers.

| A.  True|
| B.  False|
| |
7) The purpose of the SEC's circuit breakers rule is to:

| A.  B) halt trading for a short time following a dramatic drop in stock prices. | | B.  D) prevent individuals from profiting from information not available to the general public. | | C.  A) prevent market disruption caused by a communication malfunction. | | D.  C) allow floor traders to specialize in trading the securities of specific industries. | | |

8) An effective channel of distribution does more than simply ensure that goods are transported efficiently from producer to buyer.

| A.  True|
| B.  False|
| |
9) Integrated marketing communication combines all the promotional tools into one comprehensive, unified promotional strategy.

| A.  True|
| B.  False|
| |
10) Bonnie faces the challenge of developing the promotion mix for a new business. Given the uniqueness of the new products and a very limited budget, Bonnie confronts a creditability problem. She realizes that the promotional messages of an unknown firm may be met with skepticism. Bonnie should consider: | A.  the extensive use of persuasive advertising. | | B.  changing jobs because this situation is hopeless. | | C.  publicity to help create a positive image for her firm and its products. | | D.  emphasizing personal selling rather than public relations. | | |

|
11) A small business management course at a community college may offer entrepreneurs an opportunity to: | A.  try out ideas on a computer simulation before risking real time and money. | | B.  listen to a qualified instructor solve all of the problems of small business owners. | | C.  meet with experienced entrepreneurs and learn from their advice. | | |

|
12) Lamont wants to improve his chances to be a successful entrepreneur and so he has written a business plan. One advantage of developing this plan is that it: | A.  ensures financing will be available from the Small Business Administration. | | B.  will enable him to switch from a sole proprietorship to a corporation without any further paperwork. | | C.  meets federal reporting requirements of the Internal Revenue Service. | | D.  forces Lamont to think carefully about all aspects of his planned business. | | |

|
13) The first step in the rational decision-making model is to: | A.  gather data. | | B.  define the situation. |
| C.  recruit team members to work on the problem. |
| D.  develop alternative responses. |
| |
|
14) __________ is a problem solving technique that attempts to come up with as many solutions as possible in a short time without censoring the ideas. | A.  Game theory | | B.  PMI |
| C.  Brainstorming |
| D.  CAD/CAM |
| |
|
15) Which of the following techniques would a team of workers be most likely to use if they wanted to evaluate several...
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