BUS 211 Week 2 quiz

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BUS 211
Week 2 quiz


 

Instructions

 

Your answers : 35/35
(100%)

 

·        
1

This
type of law exists to ensure that people have the skills they need to properly
serve the public interest.

o   

Laws
relating to the public interest

o   

Laws
regulating occupational qualifications

o   

Laws
governing business diversity

o   

Laws
promoting employee health and safety

·        
2

What
type of information is within a business plan?

o   

Tax
penalties, number of personnel, and location of organization

o   

Revenue,
profit, and loss

o   

New
products, how the organization will compete, and how the organization will
organize resources

o   

Past
performance and stock price

·        
3

This
is a process of dissolution of a business through which its assets are sold to
repay its creditors. 

o   

Chapter
13 bankruptcy

o   

Chapter
9 bankruptcy

o   

Chapter
11 bankruptcy

o   

Chapter
7 bankruptcy

·        
4

What
rules can managers employ as guidelines to analyze the effects of
their business decisions on stakeholders?

o   

Pragmatism,
moral rights, justice, and practical rules

o   

Utilitarian,
moral rights, justice, and practical rules

o   

Utilitarian,
social contracts, virtue, and practical rules

o   

Relativism,
moral rights, justice, and social contracts rules

·        
5

What
is the primary role of a non-managerial employee?

o   

To
perform the day–to-day tasks assigned to them as directed

o   

To
assign resources and timelines to tasks

o   

To
hire, coach, discipline, and fire employees as appropriate

o   

To
evaluate the performance of other employees

·        
6

Laws
governing diversity endeavor to motivate employers to

o   

specify
the skills, qualifications, and experience people must possess to be hired for
government occupations

o   

consider
the skills, experience, and ability to do the job versus employee ethnicity,
religion, gender, age, and so forth

o   

help
promote their survival and increase the profitability of business enterprises

o   

govern
how a company should behave to further the public interest

·        
7

What
is a copyright?

o   

It
is a form of protection provided to the authors of books, videogames, poems,
and songs produced by authors, poets, software experts, and musicians.

o   

It
is a word, name, symbol, or device which is used in trade with goods to
indicate the source of the goods and to distinguish them from the goods of
others.

o   

It
is the grant of a property right that is issued to its inventor.

o   

It
is the creations of the mind including inventions, literary and artistic works,
and symbols, names, images, and designs used in commerce.

·        
8

Jones
(2007) describes a three-stage business plan used by managers. Which of the
following is one of the stages?

o   

Answering
questions about products from customers

o   

Calling
customers to sell products

o   

Assembling
raw materials into finished products

o   

Selecting
goals and targets for team members

·        
9

What
are the four elements of a SWOT analysis? 

o   

Strengths,
weaknesses, opportunities, and threats

o   

Systems,
weaknesses, obstacles, and threats

o   

Systems,
weaknesses, opportunities, and targets

o   

Strengths,
weaknesses, obstacles, and targets

·        
10

A
detailed SWOT analysis would classify a poorly designed marketing
plan as a    

o   

strength

o   

threat

o   

weakness

o   

opportunity

·        
11

This
is the effect of unethical behavior on business commerce.

o   

Unethical
behavior becomes a social norm.

o   

Stakeholders
internalize the unethical values.

o   

Less
capital and wealth are created in society.

o   

Less
capital and wealth are accrued in the government sector.

·        
12

The
U.S. Department of Labor Occupational Safety and Health Organization (OSHA) is
the government agency primarily responsible for

o   

how
the rights of consumers are protected in the marketplace

o   

how
companies determine the occupational requirements needed by employees to
protect the well-being of society

o   

how
companies recruit, promote, and retain people for employment

o   

how
companies protect their employees from harm while on the job

·        
13

When
an entrepreneur uses advancing technology to find a new way to make or supply a
product, the entrepreneur utilizes which of the following opportunities?

o   

Organizational

o   

Capitalistic

o   

Commercial

o   

Occupational

·        
14

A
detailed SWOT analysis would classify competition in the industry or
market as a    

o   

strength

o   

 threat

o   

weakness

o   

opportunity

·        
15

Which
example best describes an organizational opportunity?

o   

A
business sells their products to new customers.

o   

A
business creates new, more effective ways to increase profitability.

o   

Business
identifies and creates a new product.

o   

A
business launches and markets a 36-hour sale.

·        
16

Which
of the following people or groups supply a company with productive resources
and are affected by the way a company does business?

o   

Customers

o   

Stakeholders

o   

Employees

o   

Managers

·        
17

Which
of the following impact ethical practices in business at home and abroad?

o   

Societal
ethics, occupational ethics, legal ethics, and environmental ethics

o   

Legal
ethics, environmental ethics, individual ethics, and organizational ethics

o   

Societal
ethics, occupational ethics, individual ethics, and organizational ethics

o   

Cultural
ethics, occupational ethics, legal ethics, and organizational ethics

·        
18

When
is a business plan developed?

o   

Annually

o   

When
reporting profit and loss

o   

Shareholder
meetings discussing past performance

o   

When
proposing a new business venture

·        
19

Which
of the following best describes the employee “role”?

o   

The
set of guidelines that govern organizational behavior

o   

The
set of tasks a person is expected to perform

o   

The
nature of employment conditions, pay, and benefits

o   

The
experience and minimum skills required for a specific job

·        
20

The
utilitarian rule bases a business decision on which of the following?

o   

What
produces the greatest good for the greatest number of people.

o   

What
maintains and protects the fundamental rights and privileges of people.

o   

What
a manager has no hesitation to communicate to people outside the company,
because the typical person in a society would think the decision is acceptable.

o   

What
distributes benefits and harm among people in equitable and impartial manner.

·        
21

This
Act was passed by congress to protect air quality and motivate
companies to pollute less.

o   

Pollution
Prevention Act

o   

Energy
Policy Act

o   

Comprehensive
Environmental Response, Compensation, and Liability Act

o   

Clean
Air Act

·        
22

What
is the definition of a business plan?

o   

An
outline of the way a company will use its resources to create products that
give it a competitive advantage

o   

A
summary of a company’s profit and loss for a specified period of time and its
plan for future growth

o   

A
highly-detailed, written statement that explains the purpose of creating a new
venture

o   

A
general overview explaining the purpose of creating a new venture

·        
23

Which
of the following best describes how an employee can increase his or her chances
of being promoted inside an organization?

o   

By
being routinely confrontational with other employees and questioning the status
quo

o   

By
being proactive and looking for new ways to improve his or her skills

o   

By
ensuring performance remains within the  boundaries of the job
expectations

o   

By
doing what he or she is asked to do and by meeting job requirements

·        
24

Who
has a claim on a company because they own shares?

o   

Employees

o   

Stockholders

o   

Customers

o   

Managers

·        
25

Which
law was enacted to force companies to more fully disclose their financial
results and to protect stockholders of the company? 

o   

Dodd-Frank
Wall Street Reform and Consumer Protection Act

o   

Securities
Exchange Act

o   

Sarbanes-Oxley
Act

o   

Investment
Company Act

·        
26

What
is a difference between an employee and a manager? 

o   

Employees
hold each other accountable for success of the business

o   

Employees
are responsible for providing vision and leadership

o   

Employees
have decision making authority over the organization’s resources

o   

Employees
perform the many jobs to make, facilitate,  and sell a product

·        
27

A
detailed SWOT analysis would classify a well developed and informed business
model as a    

o   

 weakness

o   

threat

o   

opportunity

o   

strength

·        
28

Which two
types of laws have been enacted to promote a company’s continued existence
and profitability?

o   

Incorporation
and bankruptcy

o   

Occupational
health and safety

o   

Occupational
qualifications and diversity

o   

Business
and environmental stewards

·        
29

Which
ACT prohibits U.S. companies from paying bribes in order to win contracts
abroad?

o   

Securities
Exchange Act

o   

U.S.
Foreign Corrupt Practices Act

o   

Sarbanes-Oxley
Act

o   

Investment
Company Act

·        
30

Important
issues can arise concerning how and when payments are made to this group of
stakeholders?

o   

Employees

o   

Customers

o   

Suppliers
and distributors

o   

Stockholders

·        
31

Which
answer contains the three types of entrepreneurial activities?

o   

Financing,
selling, and purchasing

o   

Commercial,
occupational, and organizational

o   

Business,
sales, and training

o   

Evaluating,
monitoring, and selling

·        
32

Which
of the following best defines the entrepreneurship process?

o   

Using
IT to assemble materials into the final product

o   

Providing
both direct and indirect services to customers

o   

Exchanging
or selling services to other companies

o   

Acquiring
and combining resources to create goods or services for customers to buy.

·        
33

Anti-trust
legislation exists

o   

because
it is the government’s job to regulate business

o   

to
make it illegal for companies to conspire with one another to limit supply

o   

because
it is the express aim of the U.S. government to foster competition

o   

to
protect consumers from shortages

·        
34

There
are several advantages a company can gain over its competition by behaving in
an ethical way. The main advantage is   

o   

improved
reputation

o   

decreased
costs

o   

increased
sales

o   

employee
loyalty

·        
35

How
do managers help the company’s stakeholders?

o   

Assembling
materials into finished products

o   

Assisting
customers with their purchases

o   

Creating
profitable goods and services

o   

Providing
financing to grow the business
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