Reference no: EM133084968

1 - The challenge of this century is for organizations to balance, as much as possible:

A. macro and micro economic forces

B. profit vs non-profit

C. profits and losses

D. the needs of all stakeholders

2 - A retailer can store a lot of customer records that include their name, address, and telephone numbers and past purchases in a database. This allows the retailer to only stock what the customers in their area want. This saves the retailer's money in:

A. Financing

B. accounting costs

C. wages

D. benefits

3 - In coming years, high tech growth areas such as computers, biotechnology, and green technologies are likely to experience a:

A. surplus of labour.

B. significant decline in market demand, leading to a stagnant labour market. C. shortage of skilled labour.

D. equilibrium in the labour market.

4 - Which of the following statements provides the most accurate comparison of socialism and communism?

A. Under socialism the government owns most businesses, while under communism the church owns most businesses.

B. Both socialism and communism want to achieve a more equal distribution of income and wealth, but under communism the government takes more control over people's lives.

C. Socialism strives for an equal distribution of income, but communism wants income to go primarily to those who own and operate private businesses.

D. Communism believes that the government should always strive to balance its budget, while socialism accepts deficit spending as the price of achieving true equality

5 - In an effort to promote rapid growth, the government of Goldinia has kept taxes low, done little to regulate business activities, and implemented only modest social programs. The government is now facing political pressure to do more to clean up the environment and reduce the inequalities of income and wealth. Which of the following statements is most accurate? Goldinia's government is currently taking:

A. a purely capitalist approach to achieve its economic goals, and is likely to continue doing so in the future.

B. a purely socialist approach to achieve its economics goals and is likely to continue doing so in the future.

C. a predominately socialist approach to achieving economic goals, but the current pressures it faces suggest it is likely to adopt a more capitalist approach in the future. D. a predominately capitalist approach toward achieving economic goals, but the current pressures it faces suggest it is likely to adopt a more socialist approach in the future.

6 - Financial managers identify three steps to financial planning. Which of the following is not one of the three key steps to financial planning?

A. Forecasting both short-term and long-term financial needs.

B. Developing budgets to meet anticipated needs.

C. Preparing the income statement and balance sheet.

D. Establishing financial control to see how well the company is following the financial plans.

7 - Akiko realizes the importance of developing a ________ for her interior design business. Akiko knows of no better way of establishing revenue expectations and allocating resources to achieve the goals of her firm.

A. market prediction

B. financial forecast

C. budget

D. cash flow analysis

8 - Which of the following presents an effective technique to improve cash management?

A. Speed up cash payments and slow down cash collections.

B. Speed up cash collections and slow down cash payments.

C. Speed up both collections and payments of cash.

D. Slow down both the payment and collections of cash.

9 - The division of each outstanding share of a corporation's stock into a greater number of shares is called:

A. a stock split.

B. a stock conversion.

C. a stock dividend.

D. a cash dividend.

10 - A measure of a stock's degree of risk is its ______ value.

A. alpha

B. beta

C. gamma

D. sigma

11 - A bond selling at a price above its face value is selling at:

A. a quote.

B. dollars and cents.

C. a premium.

D. a par value.

12 - Which of the following correctly identifies the rationale behind the unity of command principle of management?

A. All workers must share the same goal.

B. Every firm has one strong leader, and everyone should support that individual. C. Workers can become frustrated and confused if they have more than one boss. D. All authority should rest with top management, since only top managers carry the responsibility of bad decisions.

13 - The ________ an organization's structure, the ________ the span of control.

A. flatter; wider

B. flatter; narrower

C. taller; wider

D. taller; flatter

14 - Which of the following was created as an answer to the temporary nature of the matrix structure?

A. Line organizations

B. Self-managed teams

C. Line-and-staff organizations

D. Network organizations

15 - Which of the following statements best describes the distinction between production management and operations management? Production management involves the activities managers perform to:

A. help create services while operations management involves the activities managers perform to produce goods.

B. obtain physical resources while operations management involves the activities managers perform to obtain the financial resources.

C. help create goods while operations management is a broader term that involves the activities involved in producing services as well as goods.

D. help create intangible products while operations management involves the activities managers perform to produce tangible products.

16 - ISO is currently working on ISO 26000 which are designed to give guidance on:

A. Sustainability

B. Equity issues

C. Social responsibility

D. Environmental protection

17 - Dev is an owner (partner) who has unlimited liability and is active in managing a law firm. Dev is an example of a:

A. limited partner.

B. general partner.

C. silent partner.

D. auxiliary partner.

18 - Sally is a human resource manager with ABC Cooking Supplies who needs to recruit people to fill several positions within her company. Sally is most likely to rely on external recruiting sources if she:

A. wants to eliminate the need to meet affirmative action regulations. B. believes that ABC's current employees do not have the qualifications necessary to successfully fill the positions.

C. places a great deal of importance on maintaining high morale for current workers. D. needs to keep the cost of her recruiting efforts to a minimum.

19 - The authorization from the federal or provincial/territorial government for a company to use the corporate format is known as what?

A. Management agreement

B. Resolution of the board of directors

C. Articles of incorporation

D. Shareholders agreement

20 - Which of the following statements about human resource management opportunities and challenges is most accurate?

A. Shifts in the economy have led to a huge pool of skilled and unskilled workers from declining industries that are either unemployed or are underemployed.

B. Workers now would rather have more income rather than more leisure. Therefore, many employees now want to work more than 40 hours per week.

C. So many people have sought training in high tech areas such as biotechnology and computers that there is likely to be a huge surplus of labour in high tech industries.

D. Workers now desire more stability and predictability in their careers, so they now give their employers more loyalty and expect more loyalty from their employers in return.