BUSN 115 Week 2 Quiz

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BUSN 115 Week 2 Quiz

Question 1

5 / 5 pts

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

 

 

Profit

 

 

Revenue

 

Sales

 

Capital investment

 

Finance

Chapter 1

 

Question 2

5 / 5 pts

(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.

Correct!

 

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.

Chapter 1, page 6

 

Question 3

5 / 5 pts

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

 

Internal accountants

Correct!

 

External auditors

 

Credit managers

 

Management accountants

 

Forensic accountants

Chapter 1, page 14

 

Question 4

5 / 5 pts

(TCO 1) Which of the following is a characteristic feature of economic contraction?

 

Decreased unemployment rates

 

 

Decreased consumer spending

 

 

Increased income

 

Increased employment

 

Increased demand

Chapter 2, page 36

 

Question 5

5 / 5 pts

(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

Chapter 2, page 37

 

Question 6

5 / 5 pts

(TCO 1) ________ taxes, levied on the earnings of individuals and businesses, are the government’s largest single source of revenue.

Correct!

 

Income

 

Property

 

Sales

 

Excise

 

Payroll

Chapter 2, page 40

 

Question 7

5 / 5 pts

(TCO 1) _____ intelligence involves reasoning, problem solving, memorization, and other rational skills.

Correct!

 

Cognitive

 

Emotional

 

Social

 

Collaborative

 

Networking

Chapter 7, page 150

 

Question 8

5 / 5 pts

(TCO 1) In order to be effective, a business goal should be _____.

 

broadly defined

Correct!

 

measurable

 

time unlimited

 

remotely defined

 

substantially high

Chapter 7, page 147

 

Question 9

5 / 5 pts

(TCO 1) _____ leaders act as advisors and supporters and generally let subordinates chart and adjust their own course toward meeting agreed-upon goals and objectives.

 

Participative

 

Consultative

 

Autocratic

 

Transactional

Correct!

 

Laissez-faire

Chapter 7, page 151

 

Question 10

5 / 5 pts

(TCO 2) An embargo is a _____.

 

quantity restriction on the import of particular goods or services

 

surcharge imposed on the import of certain products

 

subsidy offered to products exported from a country

Correct!

 

complete ban on the import or export of certain products

 

form of financial assistance extended to domestic producers

Chapter 3, page 53

 

Question 11

5 / 5 pts

(TCO 2) Trading blocs are _____.

 

international organizations that provide funds to advanced countries

 

regional organizations that promote protectionist principles

 

 

financial intermediaries that facilitate international transactions

 

 

regional organizations that promote trade among member nations

 

international organizations that provide funds to developing nations

Chapter 3, page 55

 

Question 12

5 / 5 pts

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

 

Franchising

Correct!

 

Importing

 

Licensing

 

Partnering

 

Intermediating

Chapter 3, page 60

 

Question 13

5 / 5 pts

(TCO 2) _____ refers to the degree to which information flows freely within an organization, among managers and employees, and outward to stakeholders.

 

Philanthropy

 

Materialism

 

Whistle-blowing

Correct!

 

Transparency

 

Utilitarianism

Chapter 4, page 71

 

Question 14

5 / 5 pts

(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

Correct!

 

whistle-blowing

 

affirmative action

 

consumerism

 

strategic CSR

Chapter 4, page 72

 

Question 15

5 / 5 pts

(TCO 2) The manager of a golf course awards a landscaping contract to his brother-in-law’s company, even though another company was willing to do the same work for less money. This is an example of a(n) _____.

 

defensive CSR

 

code of ethics

Correct!

 

conflict of interest

 

strategic CSR

 

ethical dilemma

Chapter 4, page 73

 

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