Business Administration
Mock Exam
Course Introduction
Business Administration is an interdisciplinary field that studies the various functions, processes, and resources involved in managing organizations effectively and efficiently. The course provides students with foundational knowledge in key business areas such as management, marketing, finance, accounting, operations, and human resources. Emphasizing critical thinking, problem-solving, and decision-making skills, students learn how to analyze business environments, develop strategic plans, and lead organizational initiatives. The curriculum is designed to prepare students for diverse careers in business, non-profit organizations, government agencies, and entrepreneurship, equipping them with practical skills and ethical perspectives necessary for leadership and success in the modern global economy.
Recommended Textbook
Business Essentials 9th Edition by Ronald J. Ebert
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2037 Verified Questions
2037 Flashcards
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Chapter 1: The Us Business Environment
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132 Verified Questions
132 Flashcards
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Sample Questions
Q1) Aggregate output refers to a company's annual production of goods or services.
A)True
B)False
Answer: False
Q2) Name one factor that may be detrimental to Expert Electronics' productivity.
Answer: Productivity is the measure of economic growth that compares how much a system produces with the resources needed to produce it. Because New Vermont's location prevents the efficient import and export of products, manufacturers are depending more on local materials, which may not provide the highest levels of productivity.
Explanation:
Q3) What is a chief goal of an economic system?
A) economic stability
B) income equality
C) money supply growth
D) national debt reduction
E) product innovation
Answer: A
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Chapter 2: Business Ethics and Social Responsibility
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135 Verified Questions
135 Flashcards
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Sample Questions
Q1) Save-a-Bunch Hardware has tripled its prices for plywood and other building supplies after a tornado strikes the area. What business practice is Save-a-Bunch Hardware demonstrating?
A) price gouging
B) price wars
C) price fixing
D) collusion
E) buying out competitors
Answer: A
Q2) Pamela is the manager of a local eyewear store. She wants to ensure that the ethical conduct of her employees is above reproach. Which of the following should Pamela avoid doing?
A) underscoring the importance of ethics to all employees
B) encouraging and equipping employees to follow the company's ethical standards
C) modeling behavior that employees should adopt
D) relying on management alone to report ethics violations
E) ensuring that a strict code of ethics is in place
Answer: D
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Chapter 3: Entrepreneurship, New Ventures, and Business Ownership
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145 Verified Questions
145 Flashcards
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Sample Questions
Q1) What is a divestiture?
Answer: With a divestiture, a corporation decides to sell part of its existing business operations to another corporation, for example to focus more specifically on its core business.
Explanation:In a divestiture, a corporation decides to sell part of its existing business operations to another corporation.
Q2) Who are the owners of a corporation?
A) board of directors
B) financial officers
C) stockholders
D) top managers
E) entrepreneurs
Answer: C
Q3) What is the most important advantage of general partnerships?
A) the unlimited liability of the partnership
B) the ability to grow with the addition of new talent and money
C) the ease of implementing an effective control system
D) the increased role of luck
E) the need for minority partners
Answer: B
Page 5
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Chapter 4: The Global Context of Business
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128 Verified Questions
128 Flashcards
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Sample Questions
Q1) In Germany, Wal-Mart has been required to buy existing retailers rather than open brand-new stores. What does this illustrate?
A) local content laws
B) fair trade agreements
C) free trade agreements
D) licensing arrangements
E) business practice laws
Q2) Which of the following denotes the practice of protecting domestic business at the expense of free market competition?
A) fair trade
B) balanced trade
C) free trade
D) market liberalism
E) protectionism
Q3) Discuss the differences between absolute advantage and comparative advantage.
Q4) A subsidy is a tax designed to help companies who import products.
A)True
B)False
Q5) What are the four components of national competitive advantage?
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Chapter 5: Business Management
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125 Verified Questions
125 Flashcards
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Sample Questions
Q1) Carlos wants to complete his M.B.A. in three years. This is an example of what kind of goal?
A) long-term
B) intermediate
C) short-term
D) objective
E) problematic
Q2) Define the term corporate culture.
Q3) How might an effective manager choose the best plan of action when making a decision?
A) making a self-generated list of pros and cons and choosing based on the list
B) using the results of a survey that was sent to key customers who will be affected
C) sending a feedback form to customers after the plan has been executed
D) creating only one plan with no alternatives so it has to work
E) reviewing what other managers have done in the same situation and doing the same
Q4) What is the difference between a goal and a strategy?
Q5) After planning, what is the next step in the management process? Why will Donna need to follow this process?
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Chapter 6: Organizing the Business
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146 Verified Questions
146 Flashcards
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Sample Questions
Q1) What is an employee's duty to perform an assigned task?
A) delegation
B) authority
C) responsibility
D) accountability
E) specialization
Q2) Describe the informal organization and the position of intrapreneuring within this structure.
Q3) Divisional structure is the relationships between group functions and activities that determine authority.
A)True
B)False
Q4) The chain of command is depicted by solid lines on an organization chart.
A)True
B)False
Q5) For the delegation process to work smoothly, responsibility and authority must be equivalent.
A)True
B)False
Q6) Describe the span of control likely to prevail at Ace Products.
Page 8
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Chapter 7: Operations Management and Quality
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148 Verified Questions
148 Flashcards
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Sample Questions
Q1) Which of the following is another term for the supply chain?
A) the distribution chain
B) the distribution network
C) the value chain
D) the supply network
E) the wholesale network
Q2) Which of the following, if True, would strengthen the case for Stardust 'n' Clay to begin developing organic beauty products?
A) Retailers report a consumer preference for inexpensive skin-care and beauty products that do a better job than the ones currently available.
B) Organic raw materials sourced from economically weak countries provide a source of livelihood for the local population.
C) Organic raw materials for such products can be sourced from developing countries at a lower cost.
D) The first mover in this industry is witnessing reasonable growth.
E) A growing number of women 18-34 consider the health impact of chemicals found in a beauty product when making a cosmetics purchase decision.
Q3) Differentiate between high- and low-contact processes. Give an example of each.
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Chapter 8: Employee Behavior and Motivation
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) Why is workplace violence increasing?
Q2) Consider the following argument: Marcia's primary leadership trait is her ability to give commands because if all else fails, she can always be an effective leader by directing others. Which of the following, if True, would undermine this argument?
A) Marcia has the ability to give clear direction in uncertain circumstances.
B) Marcia relies on her experience in order to know the right thing to do when a decision needs to be made.
C) Marcia has been known to be firm and decisive when dealing with problem employees.
D) Marcia is well-respected by her colleagues in the organization.
E) In almost all cases, Marcia's decisions are backed up by her superiors.
Q3) What is the term for behavior that is related to doing a certain job?
A) performance behavior
B) interpersonal behavior
C) disruptive behavior
D) potential behavior
E) assertive behavior
Q4) According to the two-factor theory, how should managers enhance motivation?
Q5) What are some potential consequences of employees being dissatisfied?
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Chapter 9: Leadership and Decision Making
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129 Verified Questions
129 Flashcards
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Sample Questions
Q1) What are three common constraints limiting the development of alternatives in the rational decision-making process?
Q2) Managers at Adidas had a hunch that their sponsorship deal with the Yankees would be a good one. Their feelings were based on what concept?
A) escalation of commitment
B) risk propensity
C) intuition
D) perception
E) rational decision making
Q3) Why has virtual leadership become an important issue for organizations?
Q4) The behavioral approach to the study of leadership emphasized the actions taken by an effective leader rather than any specific traits.
A)True
B)False
Q5) Virtual managers don't need to concern themselves with creating and maintaining relationships with their employees.
A)True
B)False
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Chapter 10: Human Resource Management and Labor Relations
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) How does NetFlix attempt to meet employees' esteem needs?
Q2) Workers such as computer scientists, engineers, and game developers who typically require extensive and highly specialize training are known as what?
A) technical workers
B) knowledge workers
C) contingent workers
D) labor relation workers
E) union workers
Q3) Employers can legally require a medical examination as a condition for making an offer of employment.
A)True
B)False
Q4) Wage reopener clauses are required by federal and state law.
A)True
B)False
Q5) Contrast internal and external recruiting.
Q6) How can diversity create competitive advantage?
Q7) Explain how COLA works.
Q8) How do human resource managers use job analysis for human resource planning? Page 12
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Chapter 11: Marketing Processes and Consumer Behavior
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130 Verified Questions
130 Flashcards
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Sample Questions
Q1) Which of the following, if True, would weaken the VP of Operation's position?
A) Success in the energy drink market was an important goal mentioned in the company's annual report.
B) Young males have demonstrated low awareness of many soda brands.
C) Professionals tend to have more disposable income than nonprofessionals.
D) Concern over social responsibility is rising across a wide variety of market segments.
E) Professionals are more likely than nonprofessionals to be concerned about the long-term health effects of energy drinks.
Q2) The institutional market is made up of businesses that buy goods to be converted into other products or that are used up during production.
A)True
B)False
Q3) Why is product development a long and expensive process?
Q4) Why is product placement important?
Q5) Time utility is created by a sales agreement that stipulates where products will be delivered to customers.
A)True
B)False
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Chapter 12: Pricing, Distributing, and Promoting Products
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129 Verified Questions
129 Flashcards
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Sample Questions
Q1) Which of the following denotes small retail stores carrying only one product line or category of related products?
A) department stores
B) bargain retailers
C) supermarkets
D) convenience stores
E) specialty stores
Q2) A well-established Internet provider is facing stiff competition from several new companies. Which of the following techniques would it use in order to demonstrate to consumers that its product is superior to that of its competitors?
A) order processing
B) sales promotions
C) direct marketing
D) creative selling
E) missionary selling
Q3) Why is water the least expensive mode of transportation?
Q4) What would the argument for pricing the Superior VI lower than the Superior V be?
Q5) Differentiate between fixed costs and variable costs.
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Chapter 13: Information Technology for Business
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125 Verified Questions
125 Flashcards
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Sample Questions
Q1) Electronic conferencing is popular because it reduces travel expenses and saves money.
A)True
B)False
Q2) Describe the ways in which businesses protect themselves from the threats and risks information technology poses.
Q3) Identify the IT resources businesses have at their disposal and how these resources are used.
Q4) What system allows outsiders limited access to a firm's internal information systems?
A) intranets
B) firewalls
C) extranets
D) directories
E) satellites
Q5) Where is a firewall located?
Q6) Spyware authors can use stolen information to create their own intellectual property.
A)True
B)False
Page 16
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Chapter 14: The Role of Accountants and Accounting Information
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117 Verified Questions
117 Flashcards
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Sample Questions
Q1) Which of the following inequalities is always True?
A) liabilities + assets < assets + owners' equity
B) liabilities < assets - owners' equity
C) assets < owners' equity + liabilities
D) owners' equity < assets - liabilities
E) assets < owners' equity - liabilities
Q2) Which of the following is NOT an unethical or illegal accounting action?
A) hiding expenses
B) underreporting liabilities
C) overestimating depreciation value of equipment
D) inflating revenues
E) maximizing the value of a company's intangible assets
Q3) Which organization provides guidelines for ethical conduct for the accounting profession?
A) AICPA
B) SEC
C) GAAP
D) FASB
E) CMA
Q4) What is the accounting equation?
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Chapter 15: Money and Banking
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) Which of the following best describes the portability characteristic of money?
A) It neither dies nor spoils and if it wears out, it can be replaced.
B) Units of money can be matched with the value of goods.
C) It can be exchanged across national borders.
D) It allows people to measure the relative value of goods and services.
E) It is light and easy to handle.
Q2) The inquiry has discovered that the bank involved has been selling its riskiest mortgage accounts to the insurance company, which in turn has been selling these accounts packaged with other more stable loans at a sharply discounted price to other banks. Gavin asks his aides why this would be a beneficial relationship between the two institutions. What would his aides say?
Q3) During these same hearings, several executives from the bailed-out banks testified that such financial perks as these bonuses were necessary to get the economy rolling again. What arguments might they have used?
Q4) One of the daily responsibilities of the Federal Reserve System is to regulate the current federal funds rate.
A)True
B)False
Q5) What is the difference between a credit card and a debit card?
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Chapter 16: Managing Finances
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104 Verified Questions
104 Flashcards
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Sample Questions
Q1) An investment bank is a financial institution that specializes in issuing and reselling new securities.
A)True
B)False
Q2) Hector Rivera was interested in buying shares of ABC Computer Corp, which was currently trading at $50 per share. Analysts expected the share price to rise sharply in the next few months. Hector decided to buy a call option for $400, giving him the right to purchase 100 shares of ABC Computer for $60 per share at any time between his purchase and the option's expiration date. Three months later at the expiration date, ABC stock was trading at $73. Hector used his option and purchased 100 shares of ABC Computer. How much money could Hector have saved had he bought the shares three months earlier instead of the call option?
A) $1,400
B) $400
C) $1,000
D) $2,300
E) $200
Q3) Mathematically explain how a stock split works if a company has 100,000 common shares outstanding that are trading at $100 per share.
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Page 19