Business Administration
Test Questions
Course Introduction
Business Administration is a multidisciplinary field that explores the principles and practices involved in managing and organizing business operations efficiently and effectively. This course covers essential topics such as management fundamentals, organizational behavior, marketing, finance, human resources, and strategic planning. Students will learn to analyze business environments, develop problem-solving strategies, communicate effectively in professional settings, and make informed decisions to ensure organizational success. The course emphasizes practical skills, ethical considerations, and leadership qualities needed to thrive in a variety of business contexts.
Recommended Textbook
Business 12th Edition by William M. Pride
24 Chapters 4484 Verified Questions
4484 Flashcards
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Page 2
Chapter 1: Exploring the World of Business and Economics
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246 Verified Questions
246 Flashcards
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Sample Questions
Q1) During which phase do high unemployment rates decline and levels of income increase?
A) Repression
B) Peak
C) Recession
D) Trough
E) Recovery
Answer: E
Q2) Diane is passionate about soccer and decides to open her own soccer sporting goods store. She invests her money, time, and effort into making the store a success. Diane can be best described as a(n)
A) capitalist.
B) laborer.
C) corporate owner.
D) entrepreneur.
E) competitor.
Answer: D
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Page 3
Chapter 2: A: Being Ethical and Socially Responsible
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189 Verified Questions
189 Flashcards
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Sample Questions
Q1) Which of the following accurately describes the objective of affirmative action?
A) If 30 percent of the local population is Hispanic, then 30 percent of a company's engineers should be Hispanic.
B) If 55 percent of the local population is female, then 55 percent of all companies' employees should be female throughout all levels of the organizations.
C) If 20 percent of the engineers in the local area are African American, then a company should have about 20 percent African American employees on its engineering staff.
D) If 40 percent of the engineers available locally are African American, then a company should have about 1 out of 10 African American engineers.
E) If 40 percent of the local population is Hispanic, the school systems should have 40 percent Hispanic teachers.
Answer: C
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4
Chapter 2: B: Being Ethical and Socially Responsible
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82 Verified Questions
82 Flashcards
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Sample Questions
Q1) An effective program for social responsibility takes time, money, and organization.
A)True
B)False Answer: True
Q2) A businessperson can take some comfort when faced with an ethical dilemma by talking openly about it with management because ethical decisions will always withstand scrutiny.
A)True
B)False
Answer: True
Q3) Once they are made aware of the pollution problem, most firms respond rather than waiting to be cited by the EPA.
A)True
B)False Answer: True
Q4) The lesser the competition, the greater the choice available to consumers.
A)True
B)False Answer: False
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Chapter 3: A: Exploring Global Business
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207 Verified Questions
207 Flashcards
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Sample Questions
Q1) Eleven republics of the former Soviet Union are members of the A) Former Soviet Republics Trade Agreement.
B) Organization of Petroleum Exporting Countries.
C) Association of Asian Nations.
D) European and Asian Economic Union.
E) Commonwealth of Independent States.
Q2) Arguments for imposing trade restrictions include
A) the misallocation of international resources.
B) equalizing a nation's balance of payments.
C) higher prices for consumers.
D) restriction of consumers' choices.
E) none of the above.
Q3) The United States wishes to import no more than 100 million tons of sugar from India in any given year. The type of import restriction it should impose is a(n)
A) import duty.
B) foreign exchange control.
C) import quota.
D) embargo.
E) export duty.
Q4) What is the Doha Round? What was the focus of this round of negotiations?
Page 6
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Chapter 3: B: Exploring Global Business
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61 Verified Questions
61 Flashcards
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Sample Questions
Q1) An organization of nations formed to promote the free movement of resources and products among its members and to create common economic policies is called an economic community.
A)True
B)False
Q2) A bill of lading is issued by the transport carrier to the exporter to prove that merchandise has been shipped.
A)True
B)False
Q3) Most trading companies are involved in manufacturing or owning assets related to manufacturing.
A)True
B)False
Q4) The Organization of Petroleum Exporting Countries is a group that was formed in 1960 in response to reductions in the prices that oil companies were willing to pay for crude oil.
A)True
B)False
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Chapter 4: Choosing a Form of Business Ownership
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220 Verified Questions
220 Flashcards
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Sample Questions
Q1) Discuss some of the similarities between not-for-profit corporations and for-profit corporations. What are some of the primary differences?
Q2) Since someone must be responsible for a partnership's debts, a limited partnership must have at least one general partner.
A)True
B)False
Q3) A common tactic of corporate raiders is to start a proxy fight.
A)True
B)False
Q4) A partnership formed to operate for a specific time period or to accomplish a specific purpose is known as a A) conglomerate.
B) cooperative.
C) joint venture.
D) corporation.
E) joint merger.
Q5) Why do farmers join cooperatives?
Q6) Describe the merger trends affecting American business.
Q7) How do management tasks differ for a general partner and a limited partner?
Page 8
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Chapter 5: Small Business, Entrepreneurship, and Franchises
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225 Verified Questions
225 Flashcards
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Sample Questions
Q1) What does it mean to have an entrepreneurial spirit?
Q2) What are the advantages of owning a small business? Give examples.
Q3) Mike's small company produces specialized hardware pieces. His industrial clients prefer to purchase these parts from Mike because
A) large companies do not manufacture small parts.
B) they cannot produce such high-quality parts.
C) it is cheaper to buy from Mike than to make the parts themselves.
D) large companies prefer to have less control over their operations.
E) buying from Mike will help increase their expenses for tax purposes.
Q4) Which of the following was established to arbitrate disputes between franchisors and franchisees?
A) Court system
B) Federal Trade Commission
C) National Franchise Mediation Program
D) Partnership for Franchisees' Rights
E) Association for Franchise Arbitration
Q5) Franchising is limited only to fast foods.
A)True
B)False
Page 9
Q6) What is the primary function of SBA financial assistance?
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Page 10
Chapter 6: Understanding the Management Process
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196 Flashcards
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Sample Questions
Q1) Karen Smith is a division manager at General Motors and, as such, must ensure that some sort of balance is achieved between the sometimes conflicting goals of the various departments within her division. For example, the marketing department's goal might be to increase sales by 15 percent, whereas the accounting department might strive for certain cost efficiencies. In compensating for these disparate goals, Karen is engaging in
A) planning.
B) organizing.
C) controlling.
D) conflict minimization.
E) optimization.
Q2) The four basic management functions are planning, organizing, leading and motivating, and controlling.
A)True
B)False
Q3) What are two components that are crucial to the effectiveness of a total quality management program?
Q4) A manager with strong conceptual skills is able to think well in concrete terms.
A)True
B)False
Page 11
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Chapter 7: Creating a Flexible Organization
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183 Verified Questions
183 Flashcards
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Sample Questions
Q1) An informal communications network is known as a A) memo.
B) company newspaper.
C) chain of command.
D) grapevine.
E) bulletin board.
Q2) The two types of corporate culture that have low levels of sociability among employees are
A) networked and communal.
B) fragmented and networked.
C) family and communal.
D) mercenary and networked.
E) fragmented and mercenary.
Q3) Functional authority allows line managers to make decisions and issue directive relating to the goals of the organization.
A)True
B)False
Q4) Job rotation is the systematic shifting of employees from one job to another.
A)True
B)False
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Chapter 8: Producing Quality Goods and Services
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222 Verified Questions
222 Flashcards
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Sample Questions
Q1) To regain market share, many American firms have lowered quality standards.
A)True
B)False
Q2) Statistical quality control (SQC) is concerned with only the quality of a firm's finished products.
A)True
B)False
Q3) Deciding on the product line involves balancing customer preferences and production requirements.
A)True
B)False
Q4) An industrial company contacts Caterpillar to design a specific type of equipment for use in its manufacturing facility. If Caterpillar accepts this offer, the two companies will have to create a set of specifications from which the product can be made. This process is called
A) a product line.
B) development and implementation.
C) design planning.
D) product design.
E) capacity planning.
Page 13
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Chapter 9: Attracting and Retaining the Best Employees
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216 Verified Questions
216 Flashcards
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Sample Questions
Q1) The Giant Company is concerned about controlling labor costs without diminishing its employees' incentive to work harder. The Giant Company should adopt a ____ strategy.
A) productivity-reward
B) cost-of-living
C) performance-reward
D) pay-for-performance
E) static-salary
Q2) The three types of performance feedback interviews are tell-and-listen, tell-and-sell, and
A) objective.
B) problem-solving.
C) judgmental.
D) MBO.
E) self-evaluative.
Q3) Why does the selection process focus not on choosing the applicant with the most qualifications but on choosing the applicant with the most appropriate qualifications for the job?
Q4) How does a replacement chart differ from a skills inventory? What is the purpose of each?
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Chapter 10: Motivating and Satisfying Employees and Teams
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194 Flashcards
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Sample Questions
Q1) One advantage of part-time work is that it usually provides the same benefits that full-time employees receive.
A)True
B)False
Q2) What does the word equity in equity theory refer to?
Q3) Regina worked hard and successfully as a salesperson for B&J Realty Company. For the past three years, she surpassed her peers in quality and quantity of sales. Yet in comparing pay, she discovered that she makes less than two salespeople who are well liked by management. Consequently, she accepted a higher-paying job with B&J's top competitor. To avoid losing other salespeople like Regina, management should understand and apply
A) Herzberg's theory.
B) the expectancy theory.
C) the equity theory.
D) negative reinforcement.
E) Theory Y.
Q4) Maslow's theory explains how to motivate people with money.
A)True
B)False
Q5) Describe the various stages of team development.
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Chapter 11: Enhancing Union-Management Relations
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206 Verified Questions
206 Flashcards
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Sample Questions
Q1) The AFL-CIO's negotiations committee has finally reached an agreement with the representatives of Transcontinental Airways on its first labor contract. Before this contract can become a legally binding agreement, what must take place?
A) Certification
B) Formal election
C) Collective bargaining
D) Authorization
E) Ratification
Q2) How does a work slowdown differ from a wildcat strike?
Q3) Refer to New Union. In developing union-management contracts for his members, Evan should ensure that all of the following are covered in the contract except A) forms of pay.
B) pay determinants.
C) member relations.
D) magnitude of pay.
E) seniority.
Q4) George Meany was the first president of the AFL-CIO.
A)True
B)False
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Chapter 12: Building Customer Relationships Through Effective Marketing
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201 Verified Questions
201 Flashcards
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Sample Questions
Q1) The utility created by making a product available at a location where customers wish to purchase it is called ____ utility.
A) form
B) time
C) production
D) place
E) possession
Q2) Burlington Coat Factory manufactures its winter jackets in April but does not display them in its stores until early September. Burlington recognizes the importance of ____ utility.
A) form
B) time
C) production
D) space
E) possession
Q3) Consumers use different types of decision behaviors when buying different products.
A)True
B)False
Q4) What four main elements does the marketing mix contain?
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Chapter 13: A: Creating and Pricing Products That Satisfy Customers
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200 Verified Questions
200 Flashcards
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Sample Questions
Q1) Consumers would most likely treat personal computers as ____ products.
A) business
B) convenience
C) specialty
D) shopping
E) luxury
Q2) Identify and discuss three types of pricing associated with business products.
Q3) All of the following are stages in the evolution of new products except
A) business analysis.
B) commercialization.
C) product modification.
D) screening.
E) product development.
Q4) A written explanation of the responsibilities of the producer in the event the product is found to be defective or otherwise unsatisfactory is called a(n)
A) Universal Product Code.
B) label.
C) express warranty.
D) set of instructions.
E) covenant.
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Chapter 13: B: Creating and Pricing Products That Satisfy Customers
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68 Verified Questions
68 Flashcards
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Sample Questions
Q1) Even if a grocery item is a generic product, a consumer can tell who produced it by examining the package carefully.
A)True
B)False
Q2) Manufacturers, wholesalers, and retailers do not use negotiated pricing strategies.
A)True
B)False
Q3) Multiple-unit pricing is packaging together two or more complementary products and selling them for a single price.
A)True
B)False
Q4) A variation of an existing product, such as freeze-dried coffee, is an example of product imitation.
A)True
B)False
Q5) Packages have marketing value but no functional value. A)True
B)False
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Chapter 14: Wholesaling, Retailing, and Physical Distribution
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215 Flashcards
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Sample Questions
Q1) Microsoft is able to dictate when, where, and at what price its products are to be sold because it is involved in a(n) ____ VMS with its intermediaries.
A) agency
B) corporate
C) contractual
D) administered
E) cooperative
Q2) T. J. Maxx, Burlington Coat Factory, and Marshall's are examples of A) superstores.
B) off-price stores.
C) department stores.
D) specialty stores.
E) independent retailers.
Q3) The slowest but least expensive means of transportation is by ship and barges.
A)True
B)False
Q4) The most direct channel for consumer products is from producer to retailer to consumer.
A)True
B)False
Page 20
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Chapter 15: Developing Integrated Marketing Communications
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240 Verified Questions
240 Flashcards
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Sample Questions
Q1) An advertisement for a self-cleaning litter box for cats appears in Runner's World magazine. The litter box company's campaign is likely to fail because the ad is unlikely to A) appeal to adults.
B) reach the market.
C) reach its target audience.
D) offer enough product information.
E) stimulate any interest.
Q2) Publicity is a free package or container of a product sent to consumers in the mail. A)True
B)False
Q3) Merck & Co., Inc., a pharmaceutical manufacturer, wishes to promote its products to retail pharmacists, physicians, and hospitals. Merck should recruit A) order-getters.
B) order-takers.
C) outside salespersons.
D) advisory salespersons.
E) missionary salespersons.
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Page 21
Chapter 16: Social Media, E-Business, and Accounting
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179 Verified Questions
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Sample Questions
Q1) A key advantage of the Internet is that it allows the customer to interact with the firm through e-business activities.
A)True
B)False
Q2) LinkedIn is considered one of the top four social networking sites used by business.
A)True
B)False
Q3) When Dell Computer allows workers in a foreign country to provide technical assistance to its customers, it is engaging in
A) external recruitment.
B) revenue stream buildup.
C) insourcing.
D) outsourcing.
E) employment sourcing.
Q4) Sources of revenue flowing into the firm are referred to as channels.
A)True
B)False
Q5) Describe the two primary models of e-business.
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Chapter 17: Using Management and Accounting Information
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230 Verified Questions
230 Flashcards
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Sample Questions
Q1) Audited financial statements guarantee that a firm has not "cooked" the books.
A)True
B)False
Q2) Cash, marketable securities, notes receivable, and merchandise inventory are examples of
A) current assets.
B) expenses.
C) acid-test assets.
D) fixed assets.
E) overhead costs.
Q3) For a corporation, the owners' equity amount is the total value of stock minus the retained earnings that have accumulated to date.
A)True
B)False
Q4) Without the audit function and GAAP, there would be very little oversight or supervision of corporate accounting practices.
A)True
B)False
Page 23
Q5) Describe each of the five functions of a management information system.
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Chapter 18: Understanding Money, Banking, and Credit
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236 Verified Questions
236 Flashcards
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Sample Questions
Q1) The major problem with automated teller machines is that they are available only during regular banking hours.
A)True
B)False
Q2) For customers who do their banking solely online, the largest disadvantage is the increased security threat.
A)True
B)False
Q3) One method the Federal Reserve System uses to slow the economy is to
A) sell government bonds to banks and other businesses.
B) decrease reserve requirements.
C) decrease the discount rate.
D) buy government securities.
E) decrease salaries paid to the board of governors.
Q4) Amounts held on deposit in checking accounts are
A) demand deposits.
B) the M supply of money.
C) time deposits.
D) near-monies.
E) transfer deposits.
Page 24
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Chapter 19: Mastering Financial Management
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Sample Questions
Q1) In regards to cash flow, a firm should ideally have
A) enough money coming into the firm to cover the expenses in that period.
B) more cash flowing out than in since this represents growth.
C) to use short-term financing only two to three times a year.
D) a constant need for short-term financing.
E) most of its cash going to its customers.
Q2) Financial leverage is the use of borrowed funds to increase the return on owners' equity.
A)True
B)False
Q3) Over the years, Zebra Productions has been slow making payments to its bank. Now it is in need of financing. Based on past experience, the interest rate Zebra will pay is the
A) interest rate determined by the SBA.
B) finance rate determined by the Department of Commerce.
C) prime rate.
D) prime rate plus 4 percent.
E) prime rate minus 2 percentage points.
Q4) Compare the traditional approach to budgeting with the zero-base budgeting approach.
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Chapter 20: A: Understanding Personal Finances and Investments
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172 Flashcards
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Sample Questions
Q1) A personal income statement lists your ____ and ____ for a specific period of time.
A) assets; budgeted amounts
B) liabilities; assets
C) assets; liabilities
D) expenses; net worth
E) income; expenses
Q2) Another name for an account executive is a
A) brokerage member.
B) Securities and Exchange participant.
C) registered representative.
D) commodities representative.
E) Wall Street executive.
Q3) Sally Williams purchased 40 shares of the New Continental Mutual Fund. The current market value was $22 a share, which is referred to as the
A) load cost.
B) net asset value.
C) original price.
D) selling price.
E) established price.
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Chapter 20: B: Understanding Personal Finances and Investments
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Sample Questions
Q1) There is convincing evidence that the performance of load funds routinely outperforms the performance of no-load funds.
A)True
B)False
Q2) A high-risk investment is made in the uncertain hope of earning a relatively large profit in a short time span.
A)True
B)False
Q3) Morningstar provides detailed financial information about corporate bonds.
A)True
B)False
Q4) Most CFPs and ChFCs do not charge for their services, but rather receive commissions for the securities they recommend to their clients.
A)True
B)False
Q5) If interest rates in the economy decrease, a corporate bond with a fixed interest rate will increase in value.
A)True B)False
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