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GBS151 final exam

award:

2 out of

2.00 points

MC Qu. 15 When Maggie joined Techno-Nerds, Inc., she …

When Maggie joined Techno-Nerds, Inc., she automatically joined an employee team. Team members each had base salaries, but they were also compensated through a __________ system, where they would receive bonuses for team improvements over the last time the team’s performance was evaluated.

Hippocratic oath

skill-based pay

gain-sharing

soft benefits

2.

award:

2 out of

2.00 points

MC Qu. 1 Today, most managers perform some functions associated…

Today, most managers perform some functions associated with ______________.

outside speaker engagements

strategic planning

human resource management

tactical planning

3.

award:

2 out of

2.00 points

MC Qu. 8 Once the job analysis is performed, there are several …

Once the job analysis is performed, there are several well-structured steps to the hiring process. This process includes _____________.

announcing the journeymen, and creating compensation packages

performing a preliminary 360 degree review, and beginning the training period

performing background checks on selected candidates, and establishing probationary periods

reading through applications, and changing the job description if it doesn’t quite fit any of the candidates

4.

award:

2 out of

2.00 points

MC Qu. 12 Companies that make a concerted effort to attract …

Companies that make a concerted effort to attract and hire women and other minority groups ____________.

are increasing their payroll in anticipation of a large group of retirees

do so because they will avoid penalties and fines by being seen as law abiding

understand affirmative action policies better than their counterpart companies

know that their efforts correlate with increasing women and minority customers

5.

award:

0 out of

2.00 points

MC Qu. 1 The ________________ now represents a large …

The ________________ now represents a large employee union. This in fact has shifted the payroll obligation for these workers to taxpayers.

global sector

public sector

private sector

service sector

6.

award:

2 out of

2.00 points

MC Qu. 4 When was it common for employees to have …

When was it common for employees to have 60-hour work weeks?

Early 1900’s

1700’s

Late 1600’s

1800’s

7.

award:

2 out of

2.00 points

MC Qu. 9 Negotiations between union representatives …

Negotiations between union representatives and management came to a standstill at the Habit-You-Can-Live-With Seatbelt and Airbag Company. On the day employees went on strike, they were also asked to refrain from buying cars, vans, or trucks from any assembly plant that purchased Habit’s seatbelts or airbags. The union was asking Habit’s employees to participate in a(n) ___________.

arbitrage

primary boycott

secondary boycott

injunction

8.

award:

2 out of

2.00 points

MC Qu. 8 Lansing Distributors, Inc., a company that …

Lansing Distributors, Inc., a company that distributes a range of household products from manufacturers to retailers, was negotiating a new contract with its union employees who worked in the company’s warehouses and drove its trucks. Union reps and management were willing to negotiate on 20 points, but the union wanted to discuss 2 other points that Lansing management did not want to make part of the employee contract. In this situation, the bargaining______________ constituted 20 options.

game

gambit

area

zone

9.

award:

2 out of

2.00 points

MC Qu. 10 A court-ordered ______________ was imposed on…

A court-ordered ______________ was imposed on Fairlawn city employees that worked on streets and bridges. Although these employees agreed to strike for higher wages and benefits, the city asked the courts to order them back to work, to keep the streets free of ice and snow during the winter months.

injunction

primary boycott

secondary boycott

picket

10.

award:

2 out of

2.00 points

MC Qu. 11 Recently, Mac and Zac’s Youth Sports Academy …

Recently, Mac and Zac’s Youth Sports Academy has had several inquiries about girls’ softball. While scanning the ____________ environment in their service area, Mac and Zac become aware of the growing importance of girls’ sports, and particularly girls’ softball. Girls’ softball received a boost in the local market when the high school team won the state championship. Mac and Zac are seriously considering expanding their operation to include skill lessons for young girls.

economic

competitive

sociocultural

technological

11.

award:

2 out of

2.00 points

MC Qu. 15 Business to business (B2B) customers _________________.

Business to business (B2B) customers _________________.

are more numerous compared to consumer customers

tend to be more rational in their decision making than individual consumers

tend to be geographically dispersed, rather than concentrated

never require personal selling, as do consumers

12.

award:

2 out of

2.00 points

MC Qu. 12 Up until now, Mac and Zac’s Youth Sports Academy …

Up until now, Mac and Zac’s Youth Sports Academy has served the ____________ market. Just recently, the local high school contacted Mac and Zac’s inquiring about practice space for boys’ baseball and girls’ softball during bad weather. If Mac and Zac negotiate a contract with the high school, they will also be serving the ___________ market.

B2B; consumer

consumer; B2B

female softball; boys’ baseball

sociocultural; competitive

13.

award:

2 out of

2.00 points

MC Qu. 6 Once Mac and Zac have a better understanding …

Once Mac and Zac have a better understanding of the kinds of baseball skills that local youth want to acquire, they can begin to prepare the ________________.

marketing mix

break-even zone

promotion message

pricing structure

14.

award:

2 out of

2.00 points

MC Qu. 5 As Mac and Zac explore the possibility of starting …

As Mac and Zac explore the possibility of starting a youth sports academy, they collect demographic and lifestyle information about the families who would potentially buy their service. This exercise will help to better identify their ________.

target market

affinity for the business world

ability to become good business persons

product offering

15.

award:

2 out of

2.00 points

MC Qu. 6 Priceline™ and Expedia™ are two online travel …

Priceline™ and Expedia™ are two online travel companies. Both are known to utilize ___________ of services such as “airline flights and hotel stays” to entice customers to purchase both at the same time, for a more reasonable price than what they would pay separately for each of these services.

trade marking

bundling

branding

last-minute fanning

16.

award:

2 out of

2.00 points

MC Qu. 4 Fountain of Youth Tea Company changed their glass …

Fountain of Youth Tea Company changed their glass bottles to streamlined thermos- like, blue sports bottles that fit nicely on bicycles and in car holders. A packaging innovation such as this is often perceived by the buyer as a _____________.

new product

change in the product mix

change in the tea flavor

change in the classification of the product

17.

award:

2 out of

2.00 points

MC Qu. 7 A legally protected brand is a _______________.

A legally protected brand is a _______________.

brand equity

mark to market

trademark

brand symbol

18.

award:

2 out of

2.00 points

MC Qu. 8 A survey company used a dollar value to mea…

A survey company used a dollar value to measure the ___________ of Ben and Jerry’s Ice Cream, as compared to some of its worthy competitors. Essentially, the survey firm evaluated Ben and Jerry’s by measuring net value of several components that would comprise the brand’s perception and image to ice cream customers.

brand intrigue

brand equity

time line

value package

19.

award:

2 out of

2.00 points

MC Qu. 2 Which of the following would be …

Which of the following would be considered a convenience good?

Automobile tire

Evening gown

Microwave oven

Candy bar

20.

award:

2 out of

2.00 points

MC Qu. 8 You can find Coca-Cola products in discount stores, …

You can find Coca-Cola products in discount stores, grocery stores, convenience stores, and even vending machines. Coca-Cola practices _______________ distribution with its product lines.

intensive

exclusive

selective

focused

21.

award:

2 out of

2.00 points

MC Qu. 11 A convenience store is open seven days a week and …

A convenience store is open seven days a week and remains open on holidays. The store provides its customers with _________ utility.

place

time

possession

service

22.

award:

2 out of

2.00 points

MC Qu. 4 Which utility is usually provided by producers …

Which utility is usually provided by producers rather than intermediaries?

Value

Form

Content

Subject

ebook & resources

23.

award:

2 out of

2.00 points

MC Qu. 13 Service utility is rapidly becoming the most important …

Service utility is rapidly becoming the most important utility for many ________ as they face competition from direct marketing, such as the Internet or catalogs.

marketers

wholesalers

discounters

retailers

24.

award:

2 out of

2.00 points

MC Qu. 7 A store that sells a huge variety of one type of product …

A store that sells a huge variety of one type of product such as books, in order to dominate that category is called a category _________ store.

killer

leader

manipulator

shaper

25.

award:

2 out of

2.00 points

MC Qu. 12 When Beck’s Bicycles, Inc. volunteered to send its …

When Beck’s Bicycles, Inc. volunteered to send its expert riders up mountainous terrain to rescue a lost dog that was unable to free himself from a cliff, it received accolades not only from other bicyclists, but from the public in general. Beck’s marketing director insisted that the company show a video of the search and rescue on its social media site and on-line advertising. The effort quickly turned into an important _____________ campaign for the firm.

blog

personal selling

infomercial

public relations

26.

award:

2 out of

2.00 points

MC Qu. 14 When Fountain of Youth Tea Company (FYT) wanted to …

When Fountain of Youth Tea Company (FYT) wanted to secure shelf space in high-end grocery stores, it found that it had a lot of competition. In order to get the attention of retailers, FYT directed its promotion toward the consumer who desired a refreshing tea drink, as opposed to carbonated beverages. Due to a successful campaign, it compelled the grocers to feature it in the stores. FYT used _______ strategy.

pull

saturation

leverage

push

27.

award:

2 out of

2.00 points

MC Qu. 5 While doing an online search for a music venue, Darcy …

While doing an online search for a music venue, Darcy ran across a performance of well-known entertainer Lady Gaga that featured her hair neatly wrapped in Coca-Cola™ cans. The venue did not visibly identify the sponsor in any other way. Marketers would categorize this form of advertising as _________________.

interactive promotion

an infomercial

product placement

blogging

28.

award:

2 out of

2.00 points

MC Qu. 10 Which of the following statements about personal …

Which of the following statements about personal selling is true today?

Big customers should always be treated with more care than small ones.

The objective of an initial sales call is to make a sale immediately.

Salespeople are starting to use the Internet and other technology to do everything it takes to complete the order.

It is more difficult to find customers in the business-to-business market than in the consumer market.

29.

award:

2 out of

2.00 points

MC Qu. 7 A fast growing form of media for the delivery of adver…

A fast growing form of media for the delivery of advertising messages is __________. Some firms boast that they have several million followers on Twitter™ and Facebook™ accounts.

television

product placement

radio

social media

30.

award:

2 out of

2.00 points

MC Qu. 14 Darby’s boss asked her to determine…

Darby’s boss asked her to determine if the company is operating with too many borrowed funds. Which ratio will Darby utilize to help her with her decision?

profitability

leverage

liquidity

inventory turnover

31.

award:

2 out of

2.00 points

MC Qu. 10 If Beck’s Bicycles, Incorporated’s income statement …

If Beck’s Bicycles, Incorporated’s income statement shows gross profit of $350 million, with operating expenses of $120 million, and if Beck’s tax rate is 30%, what is the firm’s net income after taxes?

$161 million

$141 million

$11.6 million

$69 million

32.

award:

2 out of

2.00 points

MC Qu. 15 The following information is listed on Beck…

The following information is listed on Beck’s Bicycles, Incorporated’s Balance Sheet as of 12/30/2012 _____________.

Assets

Liabilities

Current Assets

Current Liabilities

Cash

$ 3,000,000.00

Accts. Payable

$12,000,000.00

Accts. Receivables

2,000,000.00

Inventory

9,000,000.00

Total Current Assets

$14,000,000.00

Total Current Liabilities

$12,000,000.00

Fixed Assets

$125,000,000.00

Long Term Debt

$75,000,0000.00

If you were one of Beck’s accountants and you were asked to evaluate if the firm has enough funds to pay its bills that are coming due in the next few months, how would you respond?rev: 07_23_2013_QC_32493

Beck’s has enough funds to pay bills that are coming due because it has $3 million in cash assets.

Beck’s will not have enough funds to pay bills coming due in the next few months because it cannot depend on selling inventory to pay those bills. It must depend only on cash and credit sales already produced. Total cash and credit sales are only $5 million.

Beck’s will have enough funds to pay bills coming due in the next few months, as long as it continues to collect money that others owe Beck’s and it turns over (sells) at least $7 million in inventory.

Beck’s does not have enough funds to pay bills that are coming due because it has $3 million in cash, and it owes $87,000,000 in the next few months.

33.

award:

2 out of

2.00 points

MC Qu. 11 Which of the following is most helpful in analyzing …

Which of the following is most helpful in analyzing the financial performance of a company?

The customer base

Financial ratios

The trial balance

General ledger statements

34.

award:

2 out of

2.00 points

MC Qu. 13 Darby’s company reported net income after taxes…

Darby’s company reported net income after taxes of $2,000,000, on sales of $225 million. Her boss asked her to calculate the earnings per share for stockholders. Darby noted that the company’s balance sheet showed 44 million shares outstanding. To explain to him that her calculation is correct, Darby’s correct response is __________.

$0.045 per share. Earnings per share is calculated by taking net income after taxes and dividing by the total number of common shares issued and outstanding

$5.12 per share. Earnings per share is calculated by taking the sales dollars and dividing by the number of shares issued and outstanding

$0.45 per share. Earnings per share means sales of $225 million is divided by the number of common shares outstanding

$4.50 per share. Earnings per share is calculated by taking the number of shares issued and outstanding and dividing by the net income after taxes

35.

award:

2 out of

2.00 points

MC Qu. 6 What is the major problem with selling on credit?

What is the major problem with selling on credit?

It makes production scheduling more difficult.

A sizeable portion of a firm’s assets could be tied up in accounts receivable.

You can’t control when customers will pay their bills.

Customers who aren’t allowed to buy on credit become unhappy.

36.

award:

0 out of

2.00 points

MC Qu. 12 One advantage in using retained earnings as a …

One advantage in using retained earnings as a long-term source of funds is __________.

retained earnings are funds that fundamentally belong to bondholders, and as such, their use does not dilute ownership

there is no advantage because retained earnings are only used for short-term financing

firms avoid having to make dividend payments to stockholders, or interest payments to bondholders

firms pay a higher interest rate for the use of these funds, which benefits the business, in the long-run

37.

award:

2 out of

2.00 points

MC Qu. 3 Short-term forecasts are based on ______________.

Short-term forecasts are based on ______________.

expected sales revenues and expenses

predictions of future performance, exclusively

capital expenditures for the next five years

sales revenues

38.

award:

0 out of

2.00 points

MC Qu. 13 ldle Time Gaming, Inc. knows that its stockholders …

ldle Time Gaming, Inc. knows that its stockholders expect a return on their investment. The expected return that stockholders anticipate translates into the company’s __________. Essentially, this is the amount that the investment funds are costing the firm.

return on equity

cost of capital

return on debt

leverage

39.

award:

0 out of

2.00 points

MC Qu. 4 If your job is to compare actual expenses incurred …

If your job is to compare actual expenses incurred by your company, with financial projections previously created, you are performing the task of __________.

the accounting cycle

financial ratio analysis

managerial control

financial control

40.

award:

2 out of

2.00 points

MC Qu. 13 As quoted on an intraday report, a stock’s Beta is __________.

As quoted on an intraday report, a stock’s Beta is __________.

based on the prevailing market price of the stock

the inverse of its alpha measurement

a measurement of its risk value

a measurement of its potential for high returns

41.

award:

2 out of

2.00 points

MC Qu. 8 A company that issues _______ has a legal obligation …

A company that issues _______ has a legal obligation to make regular interest payments and to repay the principal amount at a prescribed time.

stock

a federal reserve note

a bond

equity

42.

award:

2 out of

2.00 points

MC Qu. 12 If the paper reports the corporate bond price as …

If the paper reports the corporate bond price as 79 ½, the price an investor would have to pay is ____________.

$795

$7950

$79.50

$790.50

43.

award:

2 out of

2.00 points

MC Qu. 9 An older person nearing retirement might typically …

An older person nearing retirement might typically find it better to invest in ___________.

bonds

equities

stocks

common stock

44.

award:

2 out of

2.00 points

MC Qu. 6 The most basic form of ownership in a firm consists …

The most basic form of ownership in a firm consists of ___________.

common stock

stock options

bond investment

profit sharing

45.

award:

2 out of

2.00 points

MC Qu. 14 One of the newest electronic conveniences is the …

One of the newest electronic conveniences is the _____________ which can serve as a credit card, a debit card, an even unlock doors. RFID technology and GPS technology are used in some.

rev: 12_11_2012

Smart card

ETF

ATM

IMF

46.

award:

2 out of

2.00 points

MC Qu. 4 When the Fed buys and sells U.S. government …

When the Fed buys and sells U.S. government bonds in an effort to regulate the money supply, it is engaged in ___________.

closed market practices

open-market operations

reserve equity strategy

federal fund rates adjustment

47.

award:

0 out of

2.00 points

MC Qu. 3 If the government or its representative agency were to …

If the government or its representative agency were to take money out of the economy, which of the following might occur?

High employment in the economy.

Prices would decrease on goods and services.

Prices would increase on the goods that remained for purchase.

Another Great Depression, and this is why governments do not take this action.

The economy would stabilize

48.

award:

0 out of

2.00 points

MC Qu. 12 The ___________ focuses on economic development …

The ___________ focuses on economic development throughout the world, with emphasis on emerging economies.

International Monetary Fund

Federal Reserve Bank

Bank of the Americas

World Bank

49.

award:

2 out of

2.00 points

MC Qu. 8 An increase in the discount rate would have the …

An increase in the discount rate would have the affect of _____________.

tightening of the money supply

more people wanting to borrow money

loosening of the money supply

more businesses wanting to borrow money


GBS151 midterm exam,1.

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