11 Jan Which of the following

BUS402 Week 1 Quiz Latest 2017 June

• Question 1

2 out of 2 points

Surveys show that owners of small businesses believe that:

• Question 2

2 out of 2 points

Companies started by women differ from companies started by men in that:

• Question 3

2 out of 2 points

Which of the following corporate trends have contributed to the growth of entrepreneurship?

• Question 4

2 out of 2 points

Customer service, convenience, speed and quality are all examples of:

• Question 5

2 out of 2 points

Launching and running a business can be an extremely rewarding experience, but it also can:

• Question 6

2 out of 2 points

One key to success with a business startup is to begin with enough ________:

• Question 7

2 out of 2 points

When running a home-based business:

• Question 8

2 out of 2 points

Kyoto has started an interior decoration business. Everything about the business, from its name to the color schemes used in the corporate letterhead, is an expression of her personality. She sees this business as her greatest personal achievement. Kyoto is experiencing the opportunity ________ of small business ownership.

• Question 9

2 out of 2 points

Which of the following trends is feeding the growth of entrepreneurial activity?

• Question 10

2 out of 2 points

“Copreneurs” are marked by:

• Question 11

2 out of 2 points

Juan is able to work well in a constantly changing atmosphere and has little concern for what tomorrow will bring. Juan demonstrates which of the following characteristics of a typical entrepreneur?

• Question 12

2 out of 2 points

The key ingredient-the crucial element-to avoiding the failure of a new business is:

• Question 13

2 out of 2 points

When building a home-based business, it is important that the entrepreneur:

• Question 14

2 out of 2 points

Primary cause of business failure is:

• Question 15

2 out of 2 points

Researchers who study entrepreneurs have discovered that:

• Question 16

2 out of 2 points

A small company following a ________ strategy seeks to build customer loyalty by positioning its goods and services in a unique fashion.

• Question 17

2 out of 2 points

________ are specific measurable targets to be accomplished in a defined time period.

• Question 18

2 out of 2 points

Which of the following best expresses the relationship of a company vision to its mission?

• Question 19

2 out of 2 points

A small business’s “aggregation of factors that sets it apart from its competitors” is its:

• Question 20

2 out of 2 points

The final step of the strategic planning process is:

• Question 21

2 out of 2 points

Small firms pursuing a cost leadership strategy have an advantage in reaching customers whose primary purchase criterion is:

• Question 22

2 out of 2 points

When the small business owner assesses her company’s strengths and weaknesses, she is dealing with the ________ business environment.

• Question 23

2 out of 2 points

________ focuses everyone’s attention and efforts on the same target market. It is an expression of what the owner believes in.

• Question 24

2 out of 2 points

These are products of the interaction of various forces, trends, and events that are outside the control of the small business.

• Question 25

2 out of 2 points

The strategic planning process for small businesses is:

• Question 26

2 out of 2 points

How is the strategic planning process for small companies different from that for large companies?

• Question 27

2 out of 2 points

________ are negative internal factors that inhibit the accomplishment of a firm’s objectives.

• Question 28

2 out of 2 points

________ are the broad, long-range attributes the small business seeks to accomplish; ________ are the specific, measurable milestones the company wants to achieve.

• Question 29

2 out of 2 points

The small firm’s “master plan” is its:

• Question 30

2 out of 2 points

________ are positive internal factors that contribute towards accomplishing the company’s objectives.

BUS402 Week 2 Quiz Latest 2017 June

Question 1

2 out of 2 points

All partnerships must have:

Question 2

2 out of 2 points

The most common form of business ownership is the:

Question 3

2 out of 2 points

In a joint venture, individuals join together in co-ownership for:

Question 4

2 out of 2 points

Which of the following is a disadvantage of the corporation form of ownership?

Question 5

2 out of 2 points

A partnership is:

Question 6

2 out of 2 points

The limited liability company is most like a(n):

Question 7

2 out of 2 points

Acme Corporation is chartered in Delaware, but its primary area of operation is in South Carolina. In South Carolina, Acme would be considered a(n) ________ corporation.

Question 8

2 out of 2 points

Which type of ownership is not subject to federal taxation?

Question 9

2 out of 2 points

The primary reason entrepreneurs choose to incorporate is because of:

Question 10

0 out of 2 points

The most critical disadvantage of the sole proprietorship is:

Question 11

2 out of 2 points

The ________ is a document that states in writing all of the terms of operating the partnership for the protection of each partner involved.

Question 12

2 out of 2 points

________ corporations have shares that are controlled by a relatively small number of people – family members, relatives, or friends.

Question 13

2 out of 2 points

A limited partnership is a modification of a(n) ________ form of ownership.

Question 14

2 out of 2 points

Common ownership interest in a business, sharing profits (or losses) of a business, and the right to participate in managing the operations of the business are characteristics of a(n):

Question 15

2 out of 2 points

Probably the most important feature of a partnership agreement is:

Question 16

2 out of 2 points

Territorial protection in franchising:

Question 17

2 out of 2 points

The biggest challenge facing the growth of new franchises is:

Question 18

2 out of 2 points

The primary advantage of buying a franchise over starting your own company is:

Question 19

2 out of 2 points

When it comes to purchasing products, equipment, etc., the franchiser:

Question 20

2 out of 2 points

When the franchisee has the right to establish a semi-independent organization in a particular territory to recruit, sell, and support other franchises, it is called a ________ franchise.

Question 21

2 out of 2 points

The failure rate for franchises is:

Question 22

2 out of 2 points

Another term for cobranding franchising is:

Question 23

2 out of 2 points

________ franchising involves providing the franchisee with a complete business system–the established name, the building layout and design, accounting systems, etc.

Question 24

2 out of 2 points

When buying a franchise, the potential franchisee should first:

Question 25

2 out of 2 points

There are two main risks in purchasing a franchise. First, that of the franchiser’s experience and business system, and second:

Question 26

2 out of 2 points

The ________ requires all franchisers to disclose detailed information on their operations at the first personal meeting or at least fourteen days before a franchise contract is signed or any money is paid.

Question 27

2 out of 2 points

When it comes to financial assistance for franchisees, the franchiser often:

Question 28

2 out of 2 points

The primary market for U.S. franchisers is:

Question 29

2 out of 2 points

Franchise advertising programs:

Question 30

2 out of 2 points

In franchising, the reputation of the franchiser is dependent on:

BUS402 Week 3 Quiz Latest 2017 June

Question 1

2 out of 2 points

Normally, when buying a business, the seller:

Question 2

2 out of 2 points

The biggest source for the best companies to buy is:

Question 3

2 out of 2 points

Before buying an existing business, the buyer should analyze two external elements of the business:

Question 4

2 out of 2 points

The inventory in an existing business:

Question 5

2 out of 2 points

The capitalized earnings approach determines the value of a business by capitalizing its expected profits using:

Question 6

2 out of 2 points

When a buyer is reviewing a candidate company’s lease arrangements, location and appearance, intangible assets, etc., he is answering what basic acquisition question?

Question 7

2 out of 2 points

Once an entrepreneur has evaluated him/herself, the next step in the acquisition process would be to:

Question 9

2 out of 2 points

Which of the following is an intangible asset?

Question 10

2 out of 2 points

If the firm owns any trademarks, patents, or copyrights, or has built up a positive reputation with customers and suppliers, the business has what is/are called:

Question 11

2 out of 2 points

Which of the following is a way to smooth the transition of leadership/management from the seller of a business to the buyer?

Question 12

2 out of 2 points

When the buyer is examining the income statements, tax returns, and balance sheets of the business, he/she is seeking an answer to the basic question:

Question 13

2 out of 2 points

When buying an existing business, one should remember that:

Question 14

2 out of 2 points

When it comes to buying an existing business, it is not uncommon to find it:

Question 15

2 out of 2 points

The valuation method that is commonly used, but tends to oversimplify the valuation process, is called:

Question 16

2 out of 2 points

Your cash budget and an explanation of how much money you need to make your company and product a long-term success are the subject matter of the:

Question 17

2 out of 2 points

A well-developed business plan provides the entrepreneur with a number of benefits, such as:

Question 18

2 out of 2 points

Defining the target market’s potential and describing its characteristics is part of the:

Question 19

2 out of 2 points

The second essential purpose for creating a business plan is:

Question 20

2 out of 2 points

The primary purpose of building a business plan is to:

Question 21

2 out of 2 points

________ are long-range, broad statements of what the company plans to accomplish in the distant future, and they guide the overall direction of the company.

Question 22

2 out of 2 points

The ________ becomes the document that summarizes the analysis that has been done to justify a new business.

Question 23

2 out of 2 points

Proving that a profitable market exists involves:

Question 24

2 out of 2 points

A business plan:

Question 25

2 out of 2 points

The C of the five Cs that is a synonym for “cash flow” is:

Question 26

2 out of 2 points

A business plan performs a number of functions including:

Question 27

2 out of 2 points

The ________ is the first part of the business plan. It summarizes all the relevant points of the deal, but it should be the last part written.

Question 28

2 out of 2 points

The focus of the competitor analysis section of the business plan is to:

Question 29

2 out of 2 points

A ________ is what a customer gains from the product or service feature.

Question 30

2 out of 2 points

The C of the five Cs that relates to the circumstances relating to the business, such as potential growth in the market, form of ownership, location, etc., is called:

BUS402 Week 4 Quiz Latest 2017 June

Question 1

2 out of 2 points

The statement of cash flow:

Question 2

2 out of 2 points

A pro forma financial statement means:

Question 3

2 out of 2 points

________ measure the financing supplied by the company’s owners against that supplied by its creditors and serve as a gauge of the depth of a company’s debt.

Question 4

2 out of 2 points

The break-even point occurs where:

.

Question 5

2 out of 2 points

What is the difference between price per unit and variable cost per unit?

Question 6

2 out of 2 points

________ is/are the value of the owner’s investment in the business.

Question 7

2 out of 2 points

A technique that allows the small business owner to perform financial analysis by understanding the relationship between two accounting elements is called:

Question 8

2 out of 2 points

A ratio greater than ________ days would indicate poor collection procedures.

Question 9

2 out of 2 points

The profit and loss statement is also referred as the ________.

Question 10

2 out of 2 points

The ________ is built on the basic accounting equation: Assets = Liabilities + Owner’s Equity.

Question 11

2 out of 2 points

________ tell whether or not the small business will be able to meet its maturing obligations as they come due.

Question 12

2 out of 2 points

________ ratios tell whether or not the small company will be able to meet its maturing obligations as they come due.

Question 13

2 out of 2 points

________ ratios measure the financing supplied by business owners and that supplied by the firm’s creditors.

Question 14

2 out of 2 points

________ ratios help a business owner evaluate the company’s performance and indicate how effectively the business employs its resources.

Question 15

2 out of 2 points

________ ratios indicate how efficiently the small firm is being managed.

Question 16

2 out of 2 points

A bank account that technically never has funds in it but is tied to another master account so that when checks are presented for payment the master account is debited, permitting the company to use its own money during the “float” period, is called a(n):

Question 17

2 out of 2 points

Exchanging goods and services for other goods and services, or ________, is an effective way for a small business to conserve cash.

Question 18

2 out of 2 points

When investing surplus cash, the small business owner’s key objectives should be:

Question 19

2 out of 2 points

________ is the money that moves through the business in a continuous cycle.

Question 20

2 out of 2 points

The budgeting strategy that evaluates the necessity of every item on the budget each year by starting with a zero in each budget category is called:

Question 21

2 out of 2 points

The most important item on the balance sheet is:

Question 22

2 out of 2 points

Once a small business has established a firm written credit policy and communicated it, the next step in building an effective credit policy is to:

.

Question 23

2 out of 2 points

________ companies are most likely to suffer cash shortages.

Question 24

2 out of 2 points

________ is simply a “cash map” which shows the amount and the timing of cash receipts and cash disbursements over time.

Question 25

2 out of 2 points

The first step to building a workable credit policy is:

Question 26

2 out of 2 points

Once a credit account becomes past due, a small business owner should:

Question 27

2 out of 2 points

The “big three” of cash management include:

Question 28

2 out of 2 points

An important source of credit information that collects information on small businesses that other reporting services ignore is:

Question 29

2 out of 2 points

The Fair Debt Collection Practices Act prohibits business owners from:

Question 30

2 out of 2 points

When it comes to trade credit, the small business owner:

BUS402 Week 5 Quiz Latest 2017 June

Question 1

2 out of 2 points

When it comes to innovation, the small business and entrepreneur:

Question 2

2 out of 2 points

Companies connect with their customers ________ by supporting causes that are important to their customer base, taking exceptional care of their customers, and making it fun and enjoyable to do business with them.

Question 3

2 out of 2 points

________ is the notion of drawing customers into a store by creating a kaleidoscope of sights, sounds, smells, and activities, all designed to entertain–and, of course, sell.

Question 4

2 out of 2 points

The majority of customers who stop patronizing a particular store do so because:

Question 5

2 out of 2 points

The most common channel of distribution for consumer goods is:

Question 6

2 out of 2 points

The cost of marketing a product is highest in the:

Question 7

2 out of 2 points

One-to-one marketing is a marketing strategy that:

Question 8

2 out of 2 points

________ is the process of creating and delivering desired goods and services to customers, and involves all of the activities associated with winning and retaining loyal customers.

Question 9

2 out of 2 points

The product life cycle concept means that small businesses must:

Question 10

2 out of 2 points

The focus of the small company’s marketing plan is:

Question 11

2 out of 2 points

One “natural” advantage small businesses have over large business, which can be a significant competitive advantage, is:

Question 12

2 out of 2 points

Market research:

Question 13

2 out of 2 points

A company’s competitive edge is:

Question 14

2 out of 2 points

The worst marketing catastrophe to befall any business would be to:

Question 15

2 out of 2 points

Numerous surveys have concluded that the most important element of service is:

Question 16

2 out of 2 points

________ is the personal contact between salespeople and potential customers that comes from sales efforts.

Question 17

2 out of 2 points

The choice of advertising medium is primarily determined by:

Question 18

2 out of 2 points

________ forces the salesperson to be open-minded and to shoot for the top.

Question 19

2 out of 2 points

Effective ads are built on:

Question 20

2 out of 2 points

In reality, advertising:

Question 21

2 out of 2 points

Radio’s power as an advertising medium comes from:

Question 22

2 out of 2 points

A recent study of top salespeople found that they:

Question 23

2 out of 2 points

A successful public relations technique used by local businesses to sponsor and promote fundraising activities of nonprofit groups is called:

Question 24

2 out of 2 points

________ is unsolicited commercial e-mail.

Question 25

2 out of 2 points

Newspaper advertising is characterized by:

Question 26

2 out of 2 points

________ is any sales presentation that is nonpersonal in nature and is paid for by an identified sponsor.

Question 27

2 out of 2 points

The ________ cost of an advertising medium compares the actual dollar cost of an ad with the number of potential customers it reaches.

Question 28

2 out of 2 points

The best color combination for an outdoor ad is:

Question 29

2 out of 2 points

The key to the success of direct mail advertising is:

Question 30

2 out of 2 points

The ________ becomes the heart of a company’s advertising message.

BUS402 Week 6 Quiz Latest 2017 June

Question 1

2 out of 2 points

Absorption costing:

Question 2

2 out of 2 points

In ________ pricing, a type of geographical pricing, a small firm charges customers located in different territories different prices for the same products.

Question 3

2 out of 2 points

When a computer manufacturer offers its computer with software pre-installed, a printer, and Internet service, as all part of one price, the manufacturer is using a:

Question 4

2 out of 2 points

________ pricing strategy introduces a new product at a low price to gain quick acceptance and extensive distribution in a mass market.

Question 5

2 out of 2 points

The final price set by the entrepreneur for the products depends on:

Question 6

2 out of 2 points

When a small business is faced with price competition from a much larger competitor, it should consider:

Question 7

2 out of 2 points

Price wars usually begin when:

Question 8

2 out of 2 points

When pricing products, it is important to remember that:

Question 9

2 out of 2 points

Probably the most important consideration a manufacturer has when setting the final price of its new exclusive perfume is:

Question 10

2 out of 2 points

A variation of geographic pricing in which the small company sells its merchandise to customers on the condition that they pay all the shipping is called:

Question 11

2 out of 2 points

Which of the following is correct?

Question 12

2 out of 2 points

A common “me-too” pricing policy by which the small business owner establishes his/her prices by monitoring competitor’s prices and then matching them is called:

Question 13

2 out of 2 points

Which price strategy is mostly used for moving stale, outdated, damaged merchandise?

Question 14

2 out of 2 points

________ tells what portion of the total revenues remains after covering variable costs to contribute toward meeting fixed expenses and earning a profit.

Question 15

2 out of 2 points

When developing a marketing approach to pricing, business owners must:

Question 16

2 out of 2 points

________ participating companies get antitrust immunity, allowing them to cooperate freely.

Question 17

2 out of 2 points

Small businesses go global:

Question 18

2 out of 2 points

Expanding a small business into international markets:

Question 19

2 out of 2 points

The U.S. Commerce Department, the SBA, and the Trade Administration provide a number of services. TOP–the trade opportunity program–is one and through it entrepreneurs can:

Question 20

2 out of 2 points

An embargo is:

Question 21

2 out of 2 points

The type of companies that are an important channel of foreign distribution for small companies just getting started in international trade or for those lacking the resources to assign their own people to foreign markets are referred to as:

Question 22

2 out of 2 points

Foreign licensing has its greatest potential in the licensing of:

Question 23

2 out of 2 points

________ is the primary market for U.S. franchisers.

Question 24

2 out of 2 points

________ involves a transaction in which a company selling goods in a foreign country agrees to promote investment and trade in that country.

Question 25

2 out of 2 points

A ________ is a document the seller draws on the buyer, requiring the buyer to pay the face amount (the purchase price of the goods) either on sight (a sight draft) or on a specified date (a time draft) once the goods are shipped.

Question 26

2 out of 2 points

The first step to becoming a truly global company is to:

Question 27

2 out of 2 points

________ is the exchange of goods and services for other goods and services.

Question 28

2 out of 2 points

A(n) ________ is a business that buys and sells products in a number of countries, offering a range of services–importing, exporting, shipping, distributing, and others–to their clients.

Question 29

2 out of 2 points

A type of non-tariff barrier to trade that consists of selling large quantities of products in foreign countries below cost is referred to as:

Question 30

2 out of 2 points

Key to successfully establishing an international location is:

BUS402 Week 7 Quiz Latest 2017 June

Question 1

2 out of 2 points

The most common source of equity funds used to start a small business is:

Question 2

2 out of 2 points

When structuring a deal with an “angel,” an entrepreneur should remember that:

Question 3

2 out of 2 points

The outstanding publicly held stock is also called:

Question 4

2 out of 2 points

A(n) ________ is a private, for-profit organization that purchases equity positions in young businesses that will potentially produce returns of 300 to 500 percent over five to seven years.

Question 5

2 out of 2 points

Private “angel” investors tend to:

Question 6

2 out of 2 points

The formal underwriting agreement is signed:

Question 7

2 out of 2 points

________ capital is the pool of temporary funds of the business used to support the normal operation of the business on a short-term basis.

Question 8

2 out of 2 points

Working capital can be calculated by:

Question 9

2 out of 2 points

The largest single source of external equity capital for small businesses is:

Question 10

2 out of 2 points

________ governs private placements and is designed to reduce the registration requirements for small companies going public.

Question 11

2 out of 2 points

The “wait to go effective” is the time period when:

Question 12

2 out of 2 points

The largest cost in a public stock offering is:

Question 13

2 out of 2 points

Under a ________ agreement, the underwriter agrees to purchase all of the shares in a company’s public offering and then resells them to investors.

Question 14

2 out of 2 points

When looking for an angel, the key is:

Question 15

2 out of 2 points

A foreign stock market that caters to small companies is:

BUS402 Week 8 Quiz Latest 2017 June

Question 1

2 out of 2 points

When a small business is refused a loan because it is not profitable and deemed a poor credit risk, the owner can usually turn to ________ as a source of short-term funds.

Question 2

2 out of 2 points

The SBA’s ________ program offers short-term capital to growing companies seeking to finance seasonal buildups in inventory or accounts receivable.

Question 3

2 out of 2 points

The ________ loan is based not on creditworthiness, but on the borrower’s reputation and reliability.

Question 4

2 out of 2 points

SBICs:

Question 5

2 out of 2 points

The most common form of secured credit is:

Question 6

2 out of 2 points

Insurance companies typically make two types of loans:

Question 7

2 out of 2 points

The most common method used by commercial finance companies to provide credit to small businesses is:

Question 8

2 out of 2 points

A ________ is an agreement with a bank that allows a small business to borrow up to a predetermined specified amount during the year without making an application each time.

Question 9

2 out of 2 points

Typically, a minimum loan amount from a Savings & Loan is:

Question 10

2 out of 2 points

The most common method of SBIC financing is the:

Question 11

2 out of 2 points

Savings and loan associations typically specialize in loans for:

Question 12

2 out of 2 points

________ were created by the SBA in 1992 to provide loans under $35,000 that are normally shunned by banks.

Question 13

2 out of 2 points

A loan from a stockbroker, based on the stocks and bonds in the customer’s portfolio:

Question 14

2 out of 2 points

Asset-based borrowing permits small businesses:

Question 15

2 out of 2 points

A(n) ________ is a private nonprofit financial institution that will make small loans to its members for the purpose of starting a business.

Question 16

2 out of 2 points

The Americans with Disabilities Act of 1990 requires that:

Question 17

2 out of 2 points

The value of the floor space in a retail store depends upon:

Question 18

2 out of 2 points

The manufacturing layout that groups workers and equipment according to the general function performed, and that works best with short production runs or when there are considerable variations in the finished product, is called:

Question 19

2 out of 2 points

A(n) ________ layout divides a store into a series of individual shopping areas, each with its own theme. This layout can create a distinctive image for a business.

Question 20

2 out of 2 points

Generally speaking, the one location that most small businesses have difficulty surviving in and therefore should avoid is:

Question 21

2 out of 2 points

Approximately ________ of a store’s customers will go more than halfway into the store.

Question 22

2 out of 2 points

A(n) ________ layout arranges displays in a rectangular fashion with parallel aisle. It is a formal layout that controls the traffic flow through the store.

Question 23

2 out of 2 points

A(n) ________ layout has the advantage of creating a relaxed, friendly shopping atmosphere encouraging shoppers to linger and increasing the number of impulse purchases.

Question 24

2 out of 2 points

The manufacturing layout that arranges workers and equipment according to sequence of operation and is best suited for highly standardized or mass-produced products is called:

Question 25

2 out of 2 points

The area from which a small business expects to draw customers over a reasonable time span is its:

Question 26

2 out of 2 points

An interstate trucking firm would be most concerned with which selection criterion at the state level?

Question 27

2 out of 2 points

Incubator facilities are established in order to:

Question 28

2 out of 2 points

A major factor that could increase the wage rate in an area would be:

Question 29

2 out of 2 points

The ________ serves a large trading area (10 to 15 miles or more), contains from 50 to 100 stores, and has several major department stores as its anchors.

Question 30

2 out of 2 points

Some cities develop ________ in cooperation with private industry for the benefit of manufacturers.

BUS402 Week 9 Quiz Latest 2017 June

Question 1

2 out of 2 points

________ is one of the elements of the total inventory costs.

Question 2

2 out of 2 points

“F.O.B. seller” means that:

Question 3

2 out of 2 points

The primary objective of the purchasing function is to:

Question 4

2 out of 2 points

Which of the following represents the cost of the units in the basic EOQ model?

Question 5

2 out of 2 points

When shopping for a vendor, a small business owner should seek:

Question 6

2 out of 2 points

The reorder point model requires that the small business owner know:

Question 7

2 out of 2 points

Many small businesses build a(n) ________, or cushion, into their inventories in case demand runs ahead of the anticipated usage rate.

Question 8

2 out of 2 points

Holding or carrying costs include the costs of:

Question 9

2 out of 2 points

The heart of TQM is:

Question 10

2 out of 2 points

A key element to Deming’s 14 Points is:

Question 11

2 out of 2 points

Research on the implementation of TQM programs shows that it takes ________ to completely implement a TQM program.

Question 12

2 out of 2 points

The small business gains what advantage by selling on consignment?

Question 13

2 out of 2 points

“F.O.B. buyer” means that:

Question 14

0 out of 2 points

Small business people need to remember that:

Question 15

2 out of 2 points

The implementation of TQM can not succeed unless:

Question 16

2 out of 2 points

________ system enables business owners to track their inventories and to place orders with vendors quickly and with few errors by linking them to their vendors electronically.

Question 17

2 out of 2 points

Employers can reduce employee theft through:

Question 18

2 out of 2 points

Store owners and employees may apprehend and charge a shoplifter:

Question 19

2 out of 2 points

“Just-In-Time” inventory control techniques are most successful in what type of environment?

Question 20

2 out of 2 points

A form of inventory management used in manufacturing that stresses a harmonious relationship with suppliers is:

Question 21

2 out of 2 points

The two-bin system and the tag system of inventory control are best suited for items classified as ________ in ABC analysis.

Question 22

2 out of 2 points

The ________ shoplifter is often a regular customer, well-respected individual, etc.

Question 23

2 out of 2 points

Most employee theft:

Question 24

2 out of 2 points

The purpose of ABC inventory analysis is:

Question 25

2 out of 2 points

A number of organizational factors encourage employee theft including:

Question 26

2 out of 2 points

Which of the following is a part of the “Just-In-Time” inventory control philosophy?

Question 27

2 out of 2 points

Effective management of inventory begins with:

Question 28

2 out of 2 points

In ABC analysis, the dollar usage value of an item is determined by:

Question 29

2 out of 2 points

A retail version of Just-In-Time inventory control is called:

Question 30

2 out of 2 points

________ inventory systems are designed to maintain a running count of the items in inventory.

BUS402 Week 10 Quiz Latest 2017 June

Question 1

2 out of 2 points

When a small business owner increases the variety of skills needed on a job, permits the worker to complete an entire job rather than a portion of it, and gives the worker more freedom of decision on how to perform the job, the owner is using:

Question 2

2 out of 2 points

Employees’ biggest complaint about performance appraisals tends to be:

Question 3

2 out of 2 points

Effective leaders are noted for their:

Question 4

2 out of 2 points

When workers are empowered:

Question 5

2 out of 2 points

When checking references, the small business owner:

Question 6

2 out of 2 points

An effective performance appraisal system:

Question 7

2 out of 2 points

________ involves cross-training employees so they can move from one job in the company to others, giving them a greater number and variety of tasks to perform.

Question 8

2 out of 2 points

A ________ is used by the owner of a small business to determine wage and salary increases, need for training, overall job progress, etc., among other things.

Question 9

2 out of 2 points

A company’s culture:

Question 10

2 out of 2 points

When it comes to enforcing employment laws and the job interviewing process, the EEOC:

Question 11

2 out of 2 points

Sometimes effective communication is blocked between leaders and followers by:

Question 12

2 out of 2 points

When employees can set their own work hours within certain guidelines, they are involved in:

Question 13

2 out of 2 points

A ________ outlines the duties and responsibilities associated with a job and the working conditions involved.

Question 14

2 out of 2 points

For a pay-for-performance system to work, it should:

Question 15

2 out of 2 points

A motivational tool that also helps to guide performance and lets the owner know that his/her company is accomplishing its operational goals is:

Question 16

2 out of 2 points

In an, ________ managers and/or employees borrow money from a financial institution and pay the owner the total agreed-upon price at closing; then they use the cash generated from the company’s operations to pay off the debt.

Question 17

2 out of 2 points

The use of a formal family counsel with an open discussion of all ideas is a way to demonstrate the essential quality of:

Question 18

2 out of 2 points

What are the exit strategies available to entrepreneurs when it is time to step down?

Question 19

2 out of 2 points

A formal mentoring program should be established in ________, using both internal and external people. As the successor develops his/her skills and performance, he/she will transition to the next stage.

Question 20

2 out of 2 points

A small fireworks manufacturer that shuts its plant down permanently because the risk of fire and the resulting losses are too great is relying on a risk ________ strategy.

Question 21

2 out of 2 points

The most common and popular estate planning tool for small business owners is the:

Question 22

2 out of 2 points

A company using a risk transfer strategy would do which of the following?

Question 23

2 out of 2 points

Small business owners have a number of options for controlling health care costs, such as:

Question 24

2 out of 2 points

When a business owner purchases protection for losses occurring when a contract is not completed on time or is performed incorrectly, it is buying ________ insurance.

Question 25

2 out of 2 points

While a large percentage of business founders plan to pass on their businesses, few create management succession plans because:

Question 26

2 out of 2 points

A small business that puts aside a specific amount of money into a special fund each month to cover the cost of replacing its highly specialized manufacturing equipment is using a risk ________ strategy.

Question 27

2 out of 2 points

________ allow employees and/or managers (that is, the future owners) to purchase the business gradually, which frees up enough cash to finance the venture’s future growth.

Question 28

2 out of 2 points

________ insurance is protection from loss, theft, or destruction applied to vehicles, buildings, etc. It can be written with a broad coverage or to cover a specific item or items.

Question 29

2 out of 2 points

A small business that buys a fire insurance policy on the equipment in its corrugated box factory is relying on a risk ________ strategy.

Question 30

2 out of 2 points

The ________ is a transfer of ownership strategy for an owner to transfer the company to his/her children while retaining control over it him/herself.

BUS402 Week 11 Quiz Latest 2017 June

Question 1

2 out of 2 points

A number of things can be done in order to integrate ethical principles into a company, such as:

Question 2

2 out of 2 points

Managing diversity in the workforce means managers need to:

Question 3

2 out of 2 points

“Everybody does it.” is an example of:

Question 4

2 out of 2 points

A company “Code of Ethics” refers to:

Question 5

2 out of 2 points

________ consists of the fundamental moral values and behavioral standards that form the foundation for the people of an organization as they make decisions and interact with stakeholders.

Question 6

2 out of 2 points

If a manager is made aware of a sexual harassment problem, he/she should:

Question 7

2 out of 2 points

A(n) ________ is a company-provided benefit designed to help reduce workplace problems such as alcoholism, drug addiction, a gambling habit, and other conflicts and to deal with them when they arise.

Question 8

2 out of 2 points

Choose the option that offers the greatest good for the greatest number of people is an example of:

Question 9

2 out of 2 points

If the small business owner wants to demonstrate that the company is serious about its responsibility toward employees, he/she should:

Question 10

2 out of 2 points

Those who can most influence individual behavior within a small company and set the moral and ethical tone of a company are its:

Question 11

2 out of 2 points

________ are the various groups and individuals who affect and are affected by a business

Question 12

2 out of 2 points

Doing what is “right” as opposed to what is “wrong” is:

Question 13

2 out of 2 points

Regarding sexual harassment, employers should realize that they:

Question 14

2 out of 2 points

The ________ suggests that the channels of communication between companies and their customers run in both directions.

Question 15

2 out of 2 points

The practice of moral management by the small business generally results in:

Question 16

2 out of 2 points

This act was passed by Congress to supplement the Clayton Act, providing the power to prevent “unfair methods of competition in commerce or unfair or deceptive acts in commerce.”

Question 17

2 out of 2 points

________ frequently attempt to free one party of all responsibility and liability for an injury or damage that might occur.

Question 18

2 out of 2 points

The Uniform Commercial Code:

Question 19

2 out of 2 points

________ is the most common type of bankruptcy, accounting for nearly 70% of all bankruptcies.

Question 20

2 out of 2 points

A ________ is any distinctive work, symbol, name, logo, etc., that a company uses to identify the origin of a product or to distinguish it from other products.

Question 21

2 out of 2 points

________ is a remedy for breached contracts that deal with unique items and is designed to make the injured party “whole again.”

Question 22

2 out of 2 points

In 1938, Congress passed the ________ creating an agency responsible for establishing standards for drugs, inspecting food and drug manufacturers, performing food-and drug-related research, etc.

Question 23

2 out of 2 points

The courts use the presence or absence of a(n) ________ to distinguish between serious promises and those that are not serious.

Question 24

2 out of 2 points

________ law governs the rights and the obligations between people and the parties they made promises to or agreements with.

Question 25

2 out of 2 points

The Telemarketing and Consumer Fraud and Abuse Protection Act of 1994 put in place the following restrictions on telemarketers:

Question 26

2 out of 2 points

Which of the following phrases is sufficient to disclaim an implied sales warranty?

Question 27

2 out of 2 points

A ________ is a grant giving the inventor of a product the exclusive right to make, use, or sell it for a specific time.

Question 28

2 out of 2 points

The ________ prohibits debt collectors from using intimidation to collect debts, calling on the debtor at inconvenient times, or contacting third parties about the debt.

Question 29

2 out of 2 points

________ was passed to strengthen the Clayton Act, specifically to address price discrimination because many businesses were circumventing the original rules.

Question 30

2 out of 2 points

Passed in 1976 to deal with the disposal of solid waste, the ________ specifies how landfills should be managed and hazardous waste disposed of.