BUS 101 Final Exam

Exam Number: 500523RR Lesson Name: BUS101 Final Exam Exam Number: 500523RR Lesson Name: BUS101 Final Exam 1. Regarding service characteristics, which of the following is often difficult to illustrate, demonstrate, o ...

Exam Number: 500523RR Lesson Name: BUS101 Final Exam Exam Number: 500523RR Lesson Name: BUS101 Final Exam 1. Regarding service characteristics, which of the following is often difficult to illustrate, demonstrate, or display? A. Highly differentiated marketing systems B. Fluctuating demand C. Inseparability D. Intangibility 2. Short-term debt is _______ than long-term debt. A. less risky, as expensive, slower, and less flexile B. as risky, less expensive, faster, and more flexible C. not risky, as expensive, slower, and less flexible D. more risky, less expensive, faster, and more flexible 3. ECC Company has collected the following data on quantity produced, variable costs, fixed costs for its production, and cost analysis. Quantity ProduceTotal Variable CostsTotal Fixed CostsTotal Costs 0 $0 $10,000 10,000 1,000 $4,000 $10,000 $14,000 5,000 $20,000 $10,000 $30,000 10,000 $40,000 $10,000 $50,000 What is the variable cost per unit at 5,000 units of production for the ECC Company? A. $3 B. $4 C. $2 D. $54. The Securities Act of 1933 focuses on _______ transactions. A. secondary B. computer trading C. over-the-counter D. primary 5. Organizational controls affect which of the following? A. Risks and costs B. Fraud and audit C. Ethics, fraud, costs, audit, and risks D. Ethics and laws 6. The best way to treat a computer-based customer relationship management system is to consider it as a/an _______ system. A. back-end B. integrated C. bridge D. front-end 7. A retail store sells CDs for $15.00. If the cost per CD is $11.00, what is the store's markup on selling price? A. 66% B. 27% C. 73% D. 22% 8. Which of the following bankruptcy Chapter Codes apply to personal bankruptcy cases?A. Chapter 7 Code only B. Chapter 11 Code only C. Chapter 13 Code only D. Chapters 7, 11, and 13 Codes 9. Regarding global business, the "most favored nation" trading status means Lesson 5 A. all member countries charge the same tariffs on imported goods. B. non-member countries charge average tariffs on imported goods. C. rich member countries charge lower tariffs on imported goods. D. poor member countries charge higher tariffs on imported goods. 10. Return-on-sales would be higher under which of the following pricing continuums? A. Very high prices B. Floor prices C. Ceiling prices D. Very low prices 11. Which of the following leaders works to fulfill subordinates' needs and goals as well as to achieve the organization's larger mission? A. Transformational B. Servant C. Charismatic D. Transactional 12. What are the core functions of business organizations? A. Marketing, accounting, manufacturing, and human resources B. Accounting, finance, human resources, and information technology C. Manufacturing, service, marketing, and sales D. Sales, service, finance, and information technology 13. Backward or reverse electronic auction occurs betweenA. one seller and many buyers. B. one buyer and many sellers. C. many buyers and many sellers. D. one buyer and one seller. 14. Which of the following is an extrinsic reward? A. Self-esteem B. Self-actualization C. Praise from a senior manager D. A sense of accomplishment 15. Which of the following is the most restrictive trade barrier resulting from political actions? Lesson 5 A. Product standards B. Quotas C. Embargoes D. Boycotts 16. Which of the following is used to calculate the cost-of-living index? A. Producer price index (PPI) B. Consumer price index (CPI) C. Balance of payments (BOP) D. Balance of trade (BOT) 17. Communication from one subordinate in one department to a supervisor in another department is Lesson 4 A. upward. B. horizontal. C. diagonal. D. downward. 18. A recent regulatory audit of RBI Financial Corporation revealed that the company is in compliance with six new regulations and noncompliance with three new rules. TheRBI legal counsel gathered the following financial data with the cooperation of functional management. All data is in thousands (k). Cost of planning $5K Cost of hiring employees$10K Fines and penalties $100K Cost of training $6K Cost of implementation $20K Court costs $1K Cost of reporting $2K Cost of legal fees $15K Reputation costs $50K What is the out-of-pocket cost of noncompliance for the RBI Corporation? A. $121k B. $116k C. $166k D. $129k 19. Regarding product mix, brand name is a part of Lesson 3 A. place. B. product. C. price. D. promotion. 20. Mishandling of employees' disciplinary procedures by an organization can create _______ risks. A. cultural and behavioral B. political and economic C. ethical and religious D. legal and financial 21. Regarding microeconomics, which of the following considers opportunity costs?A. Marketing costs B. Manufacturing costs C. Accounting costs D. Economic costs 22. Which of the following bases of power is based on an individual's charisma? A. Reward B. Legitimate C. Referent D. Coercive 23. The scope of collective bargaining unit includes which of the following? Lesson4 A. Committees, arbitrators, conciliators, and mediators B. Grievances, reprisals, wages, and working conditions C. Management, unions, lobbyists, and regulators D. Consultants, contractors, advisors, and attorneys 24. Which of the following network connectivity mechanisms monitor and control incoming and outgoing network traffic? A. Firewalls B. Switches C. Sensors D. Routers 25. Which one of the following items drives the other three items? Lesson 3 A. Customer mix B. Product mix C. Channel mix D. Service mix 26. Everyday low pricing means _______ pricing.Lesson 3 A. skimming B. auction-type C. going-rate D. value-based 27. Which of the following is an asset for teams? A. Groupthink B. Working toward a common goal C. Group conformity D. Domination of a few but strong team members 28. Job performance is affected by motivation and A. training. B. ability. C. strategy. D. leadership. 29. When a potential buyer approaches a seller to buy materials from the seller, it's called A. forward logistics. B. reverse logistics. C. reverse purchasing. D. traditional purchasing. 30. Regarding supplier performance measurement, a supplier's willingness to participate in the minimum purchase requirement comes under _______ measures. A. service B. cost/price C. quality D. delivery31. Regular payback period is defined as the A. net investment divided by average cash inflows. B. average annual profits divided by initial cash outlay. C. present value of cash inflows divided by present value of cash outflows. D. present value of benefits minus present value of costs. 32. Which of the following is the correct sequence of creating business organizations? A. Departmental Structures → Organizational Structures → Legal Structures → Business Structures B. Legal Structures → Business Structures → Organizational Structures → Departmental Structures C. Organizational Structures → Departmental Structures → Business Structures → Legal Structures D. Business Structures → Departmental Structures → Legal Structures → Organizational Structures 33. Regarding selling methods, traditional salespeople do not spend any time on A. presenting the product to a client. B. prospecting clients. C. approaching the clients. D. identifying a client's needs. 34. The proper roles expected of the Chief Executive Officer of a company include which of the following? Lesson 5 A. Mentor, doubter, motivator, and hard bargainer B. Task-oriented, coercive leader, results-driven, and hard seller C. Leader, mentor, motivator, and communicator D. Communicator, dictator, rank-puller, and hard negotiator 35. Which of the following represents the correct relationships in the accountingequation? A. Assets plus owners' equity equal liabilities B. Assets plus liabilities equal owners' equity C. Assets equal liabilities plus owners' equity D. Assets equal liabilities minus owners' equity 36. The proper roles expected of the board of directors of a corporation include which of the following? A. Guarantors, guardians, and fiduciaries B. Guardians, protectors, guarantors C. Custodians, guardians, and stewards D. Officers, custodians, and owners 37. TVS Transportation Company owns hundreds of trucks delivering to industrial and commercial locations. It wants to monitor the truck drivers' performance in terms of driving time and break time on the way to delivering products to customers. TVS can benefit from _______ networks. A. wireless sensor B. mobile ad-hoc C. cloud computing D. content delivery 38. Which of the following bases of power refers to a person having and sharing valuable information to others who need such information? A. Expert B. Reward C. Legitimate D. Referent 39. Higher-level managers needA. average soft skills and average hard skills. B. no soft skills and all hard skills. C. less soft skills and more hard skills. D. more soft skills and less hard skills. 40. Supplier certification means A. maintaining the incoming materials quality. B. making sure the supplier is competent. C. approving the supplier's production processes. D. evaluating a supplier's quality systems. 41. A company can increase revenues and profits if they focus on A. loyal customers and major customers. B. average customers and below-average customers. C. major customers and average customers. D. loyal customers and average customers. 42. Which of the following types of leaders strives to have no ego? A. Interactive B. Virtual C. Level 5 D. Servant 43. A job specifications document contains which of the following? A. Skills, education, and experience B. Job changes, analysis, and design C. Job duties, tasks, and responsibilities D. Job context, schedules, and conditions 44. Which of the following represents the correct sequence of tasks in the humanresources department? A. Job analysis → Job design → Job specifications → Job description B. Job specifications → Job analysis → Job design → Job description C. Job design → Job analysis → Job description → Job specifications D. Job description → Job analysis → Job design → Job specifications 45. Which of the following represents the costs associated with safety stock as a cushion? A. Ordering B. Stock-out C. Carrying D. Quality 46. John (the seller) and Tom (the buyer) entered into a contract for the sale and purchase of an Item K for $12,000. Later, John finds out that Tom wants to resell the item to Gary, a reseller, for a 10% profit after the purchase. John breaches the contract and sells the item directly to Gary, instead of to Tom. The market price of the Item K at the time of breach is $14,000. Now, Tom sues John for the breach of the contract. How much Tom can expect in compensatory damages from John? A. $1,400 B. $2,600 C. $2,000 D. $1,200 47. Which of the following types of inventory decreases when customers are buying heavily and production management wasn't able to meet the customer demand? Lesson 3 A. Raw materials B. Work-in-process C. In-transit D. Finished goods48. Mary in the accounting department is dealing with many work-related disputes with her manager, Nancy. It has reached to a point where Mary cannot do her job anymore. Where should Mary go to file a complaint about Nancy? Lesson 4 A. Ombudsperson B. Conciliator C. Arbitrator D. Mediator 49. Just-in-time strategies _______ investment in inventories. A. semi-decrease B. semi-increase C. decrease D. increase 50. Which of the following is a self-replicating mechanism? A. Spamming attacks B. Virus attacks C. Spoofing attacks D. Worm attacks