Business Administration
Midterm Exam
Course Introduction
Business Administration is a comprehensive course that introduces students to the fundamental principles and practices governing modern organizations. Covering topics such as management, marketing, finance, operations, and human resources, this course provides an overview of how businesses are structured and operated. Students will gain insights into effective decision-making, strategic planning, leadership, and communication within a business environment. Through real-world case studies and practical applications, learners are equipped with the essential skills needed to succeed in diverse business roles and to adapt to the evolving global marketplace.
Recommended Textbook
Business Essentials 8th Edition by Ronald J. Ebert
Available Study Resources on Quizplus
15 Chapters
3283 Verified Questions
3283 Flashcards
Source URL: https://quizplus.com/study-set/820
Page 2
Chapter 1: The USBusiness Environment
Available Study Resources on Quizplus for this Chatper
205 Verified Questions
205 Flashcards
Source URL: https://quizplus.com/quiz/16268
Sample Questions
Q1) Increased prices for products,decreased purchasing power,and decreased profit margins are likely to result from ________.
A) low unemployment
B) high unemployment
C) low inflation
D) none of the above
Answer: A
Q2) New Vermont underwent a recession two years ago.How might New Vermont's aggregate output have been affected?
Answer: A recession is defined as a period during which aggregate output,as measured by GDP,declines.Therefore,New Vermont's aggregate output would have declined.
Q3) ________ refers to the total quantity of goods and services produced by an economic system during a given period.
A) The business cycle
B) Aggregate output
C) Gross domestic product
D) The consumer price index
Answer: B
To view all questions and flashcards with answers, click on the resource link above.
3
Chapter 2: Business Ethics and Social Responsibility
Available Study Resources on Quizplus for this Chatper
177 Verified Questions
177 Flashcards
Source URL: https://quizplus.com/quiz/16269
Sample Questions
Q1) How do organizations exercise social responsibility toward the environment?
Answer: Many organizations adopt methods that will reduce greenhouse emissions and control pollution.Although noise pollution is now attracting increased concern,air,water,and land pollution remain the greatest problems in need of solutions from businesses.Companies often install pollution-controlling devices that prevent eventual buildup of acid rain.Businesses are also taking advantage of new forms of solid-waste disposal; further,they are working to limit toxic wastes left over from their production processes.Recycling has gained tremendous attention from businesses in recent years; some controversy exists regarding proper recycling since some materials and products do not recycle well.
Q2) Small businesses must answer many of the same social responsibility questions as big businesses.
A)True
B)False
Answer: True
Q3) How could Omniva's software promote social responsibility?
Answer: Omniva's software allows administrators to prevent employees from deleting potentially incriminating email messages.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 3: Entrepreneurship, New Ventures, and Business Ownership
Available Study Resources on Quizplus for this Chatper
208 Verified Questions
208 Flashcards
Source URL: https://quizplus.com/quiz/16270
Sample Questions
Q1) In a ________,an entrepreneur summarizes the business strategy for a new venture and shows how it will be implemented.
A) venture capital plan
B) business plan
C) franchise agreement
D) master limited partnership
Answer: B
Q2) ________ corporations are most likely comprised of doctors,lawyers,accountants,or other professionals.
A) Private
B) Public
C) S-
D) Professional
Answer: D
Q3) About what percent of all new businesses will not last six years?
A) 16 percent
B) 36 percent
C) 66 percent
D) 76 percent
Answer: C
Page 5
To view all questions and flashcards with answers, click on the resource link above.
Chapter 4: The Global Context of Business
Available Study Resources on Quizplus for this Chatper
181 Verified Questions
181 Flashcards
Source URL: https://quizplus.com/quiz/16271
Sample Questions
Q1) Nokia is a dominant market player in its industry.What are some risks that Nokia might face if it engages in a strategic alliance with a foreign company?
Q2) Explain a floating exchange rate.
Q3) In some South American countries,it is sometimes legal to bribe other businesses and government officials,while this practice is illegal in the United States.This barrier to international trade is known as ________.
A) protectionism
B) business practice laws
C) quotas
D) local content laws
Q4) The United States exports more to the Netherlands than it imports from the Netherlands.As such,the United States has a trade deficit with the Netherlands.
A)True
B)False
Q5) When all conditions for national competitive advantage exist,a nation is less likely to do international business.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Business Management
Available Study Resources on Quizplus for this Chatper
220 Verified Questions
220 Flashcards
Source URL: https://quizplus.com/quiz/16272
Sample Questions
Q1) ________ strategy,which takes place at the level of the business unit or product line,focuses on a firm's competitive position.
A) Functional
B) Business
C) Corporate
D) Fundamental
Q2) Which of the following managers are responsible for implementing the strategies,policies,and decisions made by top managers?
A) first-line managers
B) middle managers
C) supervisory managers
D) office managers
Q3) Which of the following levels of management is responsible for the overall performance and effectiveness of the firm?
A) top managers
B) first-line managers
C) middle managers
D) supervisory managers
Q4) Differentiate between strategic,tactical,and operational plans.
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Organizing the Business
Available Study Resources on Quizplus for this Chatper
209 Verified Questions
209 Flashcards
Source URL: https://quizplus.com/quiz/16273
Sample Questions
Q1) Divisional structure is relationships between group functions and activities that determine authority.
A)True
B)False
Q2) To provide a state-of-the-art classroom and instructional technology,Shell Oil recently purchased an executive conference center north of Houston as part of its program to become a ________ organization.
A) team
B) virtual
C) learning
D) flexible
Q3) To avoid bureaucracy within the organization,most large organizations tend to adopt the same types of departmentalization for all levels.
A)True
B)False
Q4) Describe staff authority at Ace Products.
Q5) Tall organizational structures are prone to delays in information flow.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Operations Management and Quality
Available Study Resources on Quizplus for this Chatper
199 Verified Questions
199 Flashcards
Source URL: https://quizplus.com/quiz/16274
Sample Questions
Q1) The ________ program certifies improvements in environmental performance.
A) ISO 9000
B) ISO 9000:2000
C) ISO 14000
D) TQM 2001
Q2) Firms that make tangible projects are engaged in goods production.
A)True
B)False
Q3) The sales department relies on the engineering department to send samples and quotes to prospective customers on a timely basis; the sales department may be considered the engineering department's internal customer.
A)True
B)False
Q4) Even excellent firms focus on one competence at a time.
A)True
B)False
Q5) Describe two alternatives for production facility layouts.
Q6) Each stage in the supply chain adds value for the final customer.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Employee Behavior and Motivation
Available Study Resources on Quizplus for this Chatper
196 Verified Questions
196 Flashcards
Source URL: https://quizplus.com/quiz/16275
Sample Questions
Q1) A(n)________ is the set of expectations held by employees concerning what they will contribute to an organization and what the organization will provide in return.
A) psychological contract
B) employee contract
C) inducement
D) contribution
Q2) Expectancy theory suggests that a student will study harder if she thinks there is a greater chance of getting an A.
A)True
B)False
Q3) Even if hygiene factors have been satisfied,at least one motivation factor must be present for an employee to be motivated.
A)True
B)False
Q4) How does the classical theory of motivation differ from the Hawthorne studies?
Q5) What is behavior modification?
Q6) Describe equity theory.
Q7) Does equity theory apply in this scenario? Explain.
Page 10
To view all questions and flashcards with answers, click on the resource link above.
Chapter 9: Leadership and Decision Making
Available Study Resources on Quizplus for this Chatper
174 Verified Questions
174 Flashcards
Source URL: https://quizplus.com/quiz/16276
Sample Questions
Q1) Will Mary carry out transactional leadership or transformational leadership in this scenario? Explain.
Q2) According to Kotter,when executing plans,leaders focus on ________.
A) aligning people
B) controlling and problem solving
C) organizing and staffing
D) motivating and inspiring
Q3) The behavioral approach to leadership suggested that dominance and energy signaled effective leadership behaviors.
A)True
B)False
Q4) How do men and women differ as leaders.
Q5) Organizations need both leadership and management if they are to be effective.
A)True
B)False
Q6) Female leaders tend to be more nurturing and supportive than male leaders.
A)True
B)False
Q7) What characteristics would Mary have to possess in order to be considered charismatic?
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Human Resource Management and Labor Relations
Available Study Resources on Quizplus for this Chatper
227 Verified Questions
227 Flashcards
Source URL: https://quizplus.com/quiz/16277
Sample Questions
Q1) Describe the concepts of equal employment opportunity and affirmative action.
Q2) Explain workforce diversity.
Q3) Employee information systems (skills inventories)contain information on each employee's education,skills,work experience,and career aspirations.
A)True
B)False
Q4) In a ________,workers perform jobs at a slower than normal pace.
A) lockout
B) boycott
C) slowdown
D) walkout
Q5) Some incentive programs apply to all the employees in a firm.Profits earned above a certain level are distributed to employees in this plan:
A) profit-sharing plan
B) gainsharing plan
C) pay-for-knowledge plan
D) none of the above
Q6) What is a compensation system?
Q7) What is a key to managing contingent workers?
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Marketing Processes and Consumer Behavior
Available Study Resources on Quizplus for this Chatper
252 Verified Questions
252 Flashcards
Source URL: https://quizplus.com/quiz/16278
Sample Questions
Q1) The satellite dish and home television shopping provide examples of changes to which of the following external environmental factors that affect marketing?
A) economic
B) technological
C) legal
D) political
Q2) Variables from countries to neighborhoods that may be considered in developing a segmentation strategy are called ________.
A) psychographic variables
B) geographic variables
C) demographic variables
D) product-use variables
Q3) The ________ is a series of stages through which a product passes during its commercial life.
A) product profit stage
B) profit life stages
C) product life stage
D) product life cycle
Q4) What is the difference between consumer goods and industrial goods?
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 12: Pricing, Distributing, and Promoting Products
Available Study Resources on Quizplus for this Chatper
451 Verified Questions
451 Flashcards
Source URL: https://quizplus.com/quiz/16279
Sample Questions
Q1) ________ tells the computer what resources to use and how to use them.
A) An application program
B) System software
C) An electronic spreadsheet
D) A database
Q2) Microsoft Excel and Adobe Photoshop are examples of groupware.
A)True
B)False
Q3) Discuss the impacts information technology has had on the business world.
Q4) A highly successful bakery specializes in making cherry tarts.The bakery workers are paid by the number of tarts they make and that are sold.Which of the following costs at the bakery is NOT variable?
A) cherries
B) rental fee on bakery's building
C) flour for tarts
D) all of these
Q5) Price skimming occurs when a company sets an initially low price to establish a new product in the market.
A)True
B)False
14
To view all questions and flashcards with answers, click on the resource link above.
Chapter 14: The Role of Accountants and Accounting Information
Available Study Resources on Quizplus for this Chatper
197 Verified Questions
197 Flashcards
Source URL: https://quizplus.com/quiz/16280
Sample Questions
Q1) ________ are rules and procedures governing the content and form of financial reports.
A) National guidelines
B) Accounting and Financial Rules
C) National Association of Accounting Principles
D) Generally Accepted Accounting Principles
Q2) Cash transactions involved in buying and selling goods and services would be classified as cash flows from ________ on the statement of cash flows.
A) operations
B) budgeting
C) investing
D) planning
Q3) Revenues are recognized when a sale is made.
A)True
B)False
Q4) The most commonly used liquidity ratio is the current ratio,which has been called the "banker's ratio."
A)True
B)False
Page 15
To view all questions and flashcards with answers, click on the resource link above.
Chapter 15: Money and Banking
Available Study Resources on Quizplus for this Chatper
204 Verified Questions
204 Flashcards
Source URL: https://quizplus.com/quiz/16281
Sample Questions
Q1) How many Federal Reserve Banks are there currently in the United States?
A) 6
B) 10
C) 12
D) 15
Q2) The FDIC clears checks for commercial banks to ensure that cash is deducted from the check writer's account and deposited in the check receiver's account.
A)True
B)False
Q3) The ________ rate is the interest rate at which commercial banks lend reserves to each other,usually overnight.
A) discount
B) open-market
C) federal funds
D) selective
Q4) As the government's bank,the Fed produces the nation's paper currency and lends money to the government.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 16
Chapter 16: Managing Finances
Available Study Resources on Quizplus for this Chatper
183 Verified Questions
183 Flashcards
Source URL: https://quizplus.com/quiz/16282
Sample Questions
Q1) Differentiate between market value and book value.
Q2) Through ________,the risk of loss is reduced by spreading the total investment across more stocks.
A) spreading
B) shorting
C) margin buying
D) diversification
Q3) Explain what aggressive growth funds are.
Q4) Why are there such differences in stock share prices?
Q5) Which is the most prominent type of stock?
Q6) If you invested $10,000 at seven percent interest for one year,you would earn $700 on your investment.If you reinvested the principal amount plus the interest you earned during the first year for another 4 years,how much would you end up with?
Q7) The American Stock Exchange (AMEX),located in New York City,is the largest exchange.
A)True
B)False
Q8) Explain the difference between angel investors and venture capital.
Q9) Who are the typical victims of Ponzi schemes?
To view all questions and flashcards with answers, click on the resource link above. Page 17