Business in Canada Test Bank
Course Introduction
Business in Canada explores the Canadian business environment, examining key elements such as the economic landscape, regulatory framework, and cultural diversity influencing business practices. The course covers the structure of Canadian industries, government policies affecting commerce, and the impact of trade agreements and globalization. Students will analyze challenges and opportunities for domestic and international businesses operating in Canada, with a focus on entrepreneurship, corporate social responsibility, and indigenous business perspectives. Through case studies and practical examples, this course provides a comprehensive understanding of what it takes to succeed in Canada's dynamic business climate.
Recommended Textbook
Future of Business 3rd Canadian Edition by Norm Althouse
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16 Chapters
2162 Verified Questions
2162 Flashcards
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Page 2
Chapter 1: understanding Evolving Economic Systems and Competition
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145 Verified Questions
145 Flashcards
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Sample Questions
Q1) The purchase of savings bonds by individuals allows the government to do what?
A) eliminate crowding out
B) balance supply and demand
C) access funds that might otherwise have gone to the private sector
D) concentrate on microeconomics strategy
Answer: C
Q2) To bring inflation under control,which combination of unemployment and growth may be necessary?
A) high unemployment,high growth
B) high unemployment,low growth
C) low growth,high unemployment
D) low unemployment,moderate growth
Answer: B
Q3) If a government spends $2.7 billion on government programs,and receives revenues of $2.3 billion,what does the country have?
A) a low GDP
B) a budget deficit
C) a high CPI
D) an expansionary policy
Answer: B
Page 3
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Chapter 2: the Global Marketplace and Governments Roles
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121 Verified Questions
121 Flashcards
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Sample Questions
Q1) Which of the following represents the world's largest free-trade zone?
A) the North Atlantic Treaty Organization
B) the North American Free Trade Agreement
C) the European Union
D) the International Monetary Fund
Answer: B
Q2) China imposes a 45 percent tax on the market value of all chickens that are imported from other countries into China.What would be another name for this type of tax?
A) a tariff
B) a quota system
C) a subsidy
D) an embargo
Answer: A
Q3) The International Monetary Fund (IMF)was created to promote trade through financial cooperation by working to eliminate trade barriers.
A)True
B)False
Answer: True
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Page 4
Chapter 3: Social Trends, social Responsibility, and Making
Ethical Decisions in Business
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134 Verified Questions
134 Flashcards
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Sample Questions
Q1) Martin's stock portfolio includes only companies using recycled components in their manufacturing process.Martin is a strong believer in environmental protection,and his way of expressing that belief is by which of the following?
A) ethical giving
B) strategic giving
C) social investing
D) social paternalism
Answer: C
Q2) Which stage of ethical development is most likely to be seen in mature adults?
A) ego-centred
B) postconventional
C) conventional
D) preconventional
Answer: B
Q3) During which stage of ethical development would an individual most likely be described as "egocentric" or concerned only with himself?
Answer: preconventional
Q4) What are ethics?
Answer: a set of standards for judging whether something is right or wrong
Page 5
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Chapter 4: Using Technology to Manage Information and for Business Success
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116 Verified Questions
116 Flashcards
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Sample Questions
Q1) What do we call processing data as they become available?
A) off-line processing
B) batch processing
C) online processing
D) auxiliary processing
Q2) Today's companies are spending increasing amounts of money on improving their IT budgets.
A)True
B)False
Q3) A group of two or more computer systems linked together by communications channels to share data and information are called which of the following?
A) a combination
B) a network
C) a database
D) a mainframe
Q4) Which of the following BEST describes a local area network?
A) a group of computers linked together to share common data
B) a network that links multiple computers on different sites
C) a network that links multiple computers on one site
D) a cost-effective alternative to a mainframe system
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Chapter 5: Forms of Business Ownership
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) Karl Metzger plans to invest $5,000 in a partnership with his brother to produce and sell handcrafted violins,zithers,and other string instruments.Metzger does not plan to work in the business and wants no more liability than his investment.What should he be?
A) a limited partner
B) a general partner
C) a joint partner
D) a temporary partner
Q2) What is the first step in incorporating a company?
A) Write the articles of incorporation.
B) Hold an organizational meeting.
C) Select the company's name.
D) Buy necessary licences and pay required taxes.
Q3) A ____________________ is the combining of two or more firms to form one new company.
Q4) What forms of business ownership have to deal with the disadvantage of unlimited liability?
Q5) In a limited partnership,all of the partners have limited liability.
A)True
B)False
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Chapter 6: Entrepreneurship and Small Business
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) Lachlan Stuart is employed by International Paper,a company that values his vision and creativity.To stay ahead in a very competitive industry,International Paper gives Stuart and his division almost complete autonomy to develop innovative and effective communications.Stuart is an example of which of the following type of entrepreneur?
A) insourced entrepreneur
B) multipreneur
C) intrapreneur
D) corporate entrepreneur
Q2) What is one way to ease the burden of managing a business?
A) Operate the business 20 hours a week.
B) Hire outside consultants.
C) Do all the work yourself and hire no employees.
D) Keep minimal inventory on hand.
Q3) ____________________ do not own their own companies but apply their creativity,vision,and risk taking within a large corporation rather than starting a company of their own.
Q4) ____________________ are individual investors or groups of experienced investors who provide funding for start-up businesses.
Q5) What are the two leading reasons that women start their own firms?
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Chapter 7: Management and Leadership in Todays Organizations
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142 Verified Questions
142 Flashcards
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Sample Questions
Q1) Which of the following roles of a manager consists of relationships with other people as figurehead,leader,and liaison?
A) intrapersonal
B) interpersonal
C) decisional
D) informational
Q2) The ability to work with people and be sensitive to workers' needs are examples of human relations skills.
A)True
B)False
Q3) Two coworkers at Nortel came up with an idea for renting software over the Internet.Nortel's top management liked the idea and set up a special division called Channelware devoted to taking the idea and making a new product.The establishment of a new company and assigning the employees in the division the task of making an idea a reality requires which management function?
A) communicating
B) controlling
C) organizing
D) planning
Page 9
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Chapter 8: Designing Organizational Structures
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149 Verified Questions
149 Flashcards
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Sample Questions
Q1) Which of the following is designed with direct,clear lines of authority and communication flowing from the top managers downward?
A) a line organization
B) a functional organization
C) a staff organization
D) a matrix organization
Q2) Decentralization is usually desirable in a company under which of the following conditions?
A) Employees are willing to take responsibility.
B) The firm is geographically centralized.
C) The firm is very small.
D) The firm is operating in a stable environment.
Q3) Which of the following factors has little effect on the size of a manager's span of control?
A) nature of the task
B) age of the subordinates
C) level of skill and motivation of the workers
D) location of the workers
Q4) What is another name for the matrix structure?
Q5) List the three basic types of work teams.
10
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Chapter 9: Motivating Employees
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114 Verified Questions
114 Flashcards
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Sample
Questions
Q1) Anila Sudavarian works as a receptionist for a medical clinic from 8a.m.until 12 noon five days a week.At noon,he is replaced by Louise Cho who works at the same job from noon until 4 p.m.Which of the following scheduling options is being used by Sudavarian and Cho?
A) job partnering
B) flextime
C) compressed work week
D) job sharing
Q2) Which of the following is the horizontal expansion of an employee's job?
A) job enrichment
B) job enlargement
C) job rotation
D) task generalization
Q3) Safeway Stores has installed dashboard computers in its trucks to monitor delivery truck drivers as they work their routes.This mistrust of employees derives from belief in which of the following theories?
A) the Theory Y style of management
B) the Theory X style of management
C) the Theory Z style of management
D) scientific management
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Chapter 10: Managing Human Resources and Labour Relations
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133 Verified Questions
133 Flashcards
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Sample Questions
Q1) When union members carry signs and parade back and forth in front of the employer's site,they are engaging in which of the following?
A) strike advertising
B) boycotting
C) picketing
D) a lockout
Q2) Which of the following factors are examples of internal influences on pay structure?
A) the firm's financial condition
B) the level of labour competitiveness in the area
C) salary levels of competitors
D) wage and salary surveys
Q3) Dawn Li's job at Bombardier,a company that manufactures jet planes,is to gather information about various jobs and to specify the skills and knowledge to do each job well.Li is responsible for which of the following?
A) skill inventories maintenance
B) task orientation
C) job management
D) job analysis
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Chapter 11: Achieving World-class Operations Management
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136 Verified Questions
136 Flashcards
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Sample Questions
Q1) ____________________ is the creation of goods and services and is an essential function in every firm.
Q2) Production and operations management involves three main types of decisions that are made at three different stages.The first type of decision to be made involves which of the following?
A) establishing critical paths
B) production planning
C) improving production and operations
D) inventory control
Q3) ____________________ is used to schedule big projects,allowing production and operations managers to break complex operations into smaller tasks and estimate the time needed to complete the key tasks.
Q4) Which of the following is a disadvantage associated with the flexible manufacturing system?
A) A flexible manufacturing system provides consistent quality.
B) A flexible manufacturing system can create to customer specifications.
C) A flexible manufacturing system is initially expensive.
D) A flexible manufacturing system can easily be reprogrammed.
Q5) What kind of layout does Bombardier use when it is building an aircraft?
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Chapter 12: Understanding the Customer
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140 Verified Questions
140 Flashcards
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Sample Questions
Q1) Aldi is a no-frills grocery chain.By controlling expenses,Aldi customers can expect to save 30 to 50 percent compared to customers of a full service grocery store.The supermarket chain's emphasis on maintaining its cost competitive advantage means the company's top management is often concentrating on which of the following strategies?
A) pricing
B) promotion
C) possession
D) place
Q2) Which of the following is the last stage in the marketing research process?
A) Store the data for later use.
B) Thank those people who participated in the data gathering.
C) Analyze the data.
D) Make recommendations to management.
Q3) Which of the following is the process of separating,identifying,and evaluating the layers of a market to design a marketing mix?
A) a marketing strategy
B) a marketing division
C) market segmentation
D) market layering
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Chapter 13: Creating Marketing Strategies
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174 Verified Questions
174 Flashcards
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Sample Questions
Q1) A decorative trashcan costs $9 to buy from the wholesaler.The interior design shop prices the trashcan at $15.What is the markup?
Q2) What intensity of distribution is being used by Bic Corp,marketer of inexpensive pens,cheap lighters,and throwaway razors?
Q3) Products such as cotton,wheat,iron ore,and soybeans,that have undergone little or no processing and become inputs for another product are____________________.
Q4) What is a product?
Q5) What is a product that is bought by a company for use in making another product?
A) a business product
B) an institutional product
C) a functional product
D) a distribution product
Q6) Which of the following is the most accessible method of shipping?
A) truck
B) airplane
C) ship
D) railroad
Q7) What are the two classifications of business products?
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Chapter 14: Using Financial Information and Accounting
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133 Verified Questions
133 Flashcards
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Sample Questions
Q1) Watts Regulator makes hydroponic pressure valves used in water pumps and water heaters.Watts had $100,000 in net sales for the month.Cost of goods sold was $42,000.On an income statement,how would the remaining $58,000 be classified?
A) as gross profit
B) as net revenues
C) as general income
D) as gross revenues
Q2) Which of the following is the BEST example of a current asset for a clinical psychologist?
A) the building in which his clinic is located
B) money he pays for rent and utilities
C) credit card charges by patients
D) his reputation as a compassionate man
Q3) Which of the following ratios is a measure of the firm's ability to pay its current liabilities once inventory is subtracted from current assets?
A) the acid-test ratio
B) the net margin ratio
C) the profitability ratio
D) the inventory ratio
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Page 16
Chapter 15: Understanding Money, financial Institutions, and
the Securities Markets
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149 Verified Questions
149 Flashcards
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Sample Questions
Q1) The Canadian Deposit Insurance Corporation insures only deposits at commercial banks.
A)True
B)False
Q2) The most important function of the Bank of Canada is implementing which of the following policies?
A) monetary
B) fiscal
C) tax
D) spending
Q3) What are junk bonds?
Q4) Which of the following is one of the key characteristics required in order for money to be an acceptable medium of exchange?
A) portability
B) profitability
C) divisibility
D) distributability
Q5) What is the tool most frequently used by the Bank of Canada to control inflation and interest rates,increase employment,and influence economic activity?
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Chapter 16: Managing the Firms Finances
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Sample Questions
Q1) When a high-growth company first makes its shares available to investors,it has an IPO because it needs to raise more funds to continue its growth.What is an IPO?
Q2) Short-term loans are BEST described by which of the following?
A) They are always secured.
B) They have a maturity of one year or longer.
C) They do not require any collateral.
D) They are shown as a liability on the balance sheet.
Q3) What are short-term investments that are easily converted back to cash and are used by financial managers to achieve higher returns than those offered by chequing accounts?
A) corporate securities
B) marketable securities
C) management vehicles
D) corporate equities
Q4) Internal financing involves ____________________,the portion of the firm's profits that is reinvested in the business.
Q5) Long-term forecasts are also called tactical plans. A)True B)False
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