Type:
Test Bank
Resource:
Business
Edition:
8th Edition
Author(s):
Ricky W. Griffin Ronald J. Ebert Frederick A. Starke Melanie D. Lang George Dracopoulos
TEST ITEM FILE Frederick A. Starke University of Manitoba
BUSINESS Eighth Canadian Edition Ricky W. Griffin Texas A&M University Ronald J. Ebert University of Missouri–Columbia Frederick A. Starke University of Manitoba George Dracopoulos Vanier College Melanie D. Lang University of Guelph
Business, Eighth Canadian Edition
Griffin, Ebert, Starke, Dracopoulos, Lang
CONTENTS
PART ONE – INTRODUCING THE CONTEMPORARY BUSINESS WORLD CHAPTER 1: UNDERSTANDING THE CANADIAN BUSINESS SYSTEM CHAPTER 2: UNDERSTANDING THE ENVIRONMENTS OF BUSINESS CHAPTER 3: CONDUCTING BUSINESS ETHICALLY AND RESPONSIBLY CHAPTER 4: UNDERSTANDING ENTREPRENEURSHIP, SMALL BUSINESS, AND NEW VENTURE CREATION CHAPTER 5: THE GLOBAL CONTEXT OF BUSINESS PART TWO – THE BUSINESS OF MANAGING CHAPTER 6: MANAGING THE BUSINESS ENTERPRISE CHAPTER 7: ORGANIZING THE BUSINESS ENTERPRISE CHAPTER 8: MANAGING HUMAN RESOURCES CHAPTER 9: UNDERSTANDING LABOUR–MANAGEMENT RELATIONS CHAPTER 10: MOTIVATING AND LEADING EMPLOYEES PART THREE – MANAGING OPERATIONS AND INFORMATION CHAPTER 11: PRODUCING GOODS AND SERVICES CHAPTER 12: INCREASING PRODUCTIVITY AND QUALITY CHAPTER 13: UNDERSTANDING INFORMATION SYSTEMS AND COMMUNICATION TECHNOLOGY CHAPTER 14: UNDERSTANDING ACCOUNTING ISSUES PART FOUR – MANAGING MARKETING CHAPTER 15: UNDERSTANDING MARKETING PROCESSES AND CONSUMER BEHAVIOUR CHAPTER 16: DEVELOPING AND PROMOTING GOODS AND SERVICES CHAPTER 17: PRICING AND DISTRIBUTING GOODS AND SERVICES PART FIVE – MANAGING FINANCIAL ISSUES CHAPTER 18: UNDERSTANDING MONEY AND BANKING CHAPTER 19: UNDERSTANDING SECURITIES AND INVESTMENTS CHAPTER 20: FINANCIAL DECISIONS AND RISK MANAGEMENT
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Business, Eighth Canadian Edition
Griffin, Ebert, Starke, Dracopoulos, Lang Chapter 1—Understanding the Canadian Business System
Chapter 01: Understanding the Canadian Business System Chapter 01 Multiple Choice Questions 1. Profit is a. what remains after business expenses are subtracted from business revenues. b. equal to the market value of shares in a company. c. equal to total revenue minus cash expenses. d. the amount of sales minus 50 percent. e. double the amount the company pays in taxes. Difficulty: 1 Page-Reference: 6 Question ID: 01-1-01 Skill: Knowledge Objective: 1.1 Answer : a.what remains after business expenses are subtracted from business revenues. 2. In 2011, the most profitable Canadian companies were all in the ______ industry. a. banking b. oil c. computer automobile d. e. insurance Difficulty: 2 Page-Reference: 6 Question ID: 01-1-02 Skill: Knowledge Objective: 1.1 Answer : a.banking 3. The sales revenues of TransCanada Distributors have increased since last year. The sales manager thinks that as a result the company should now be more profitable. Which of the following would most strongly support his contention? a. TransCanada is a relatively new company. b. TransCanada is a for-profit company. c. TransCanada's costs have decreased from the previous year. d. TransCanada's competitors have had increased revenue. e. TransCanada has hired more employees recently. Difficulty: 2 Page-Reference: 6 Question ID: 01-1-03 Skill: Analysis Objective: 1.1 Answer : c.TransCanada's costs have decreased from the previous year. 4. The sales revenues of TransCanada Distributors have increased since last year. The sales manager thinks that as a result the company should now be more profitable. Which of the following would weaken the sales manager's argument? a. TransCanada's customers are happy with the company's services. b. Shipping costs for the industry have increased since last year. c. TransCanada's employees are dissatisfied with the company's working conditions. d. There has been a slowdown in the industry. e. Most of TransCanada's employees are new to the business. Difficulty: 2 Page-Reference: 6 Question ID: 01-1-04 Skill: Analysis Objective: 1.1 Answer : b.Shipping costs for the industry have increased since last year.
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Business, Eighth Canadian Edition
Griffin, Ebert, Starke, Dracopoulos, Lang Chapter 1—Understanding the Canadian Business System
5. The sales revenues of TransCanada Distributors have increased since last year. The sales manager thinks that as a result the company should now be more profitable. Which of the following points out a flaw in the sales manager's reasoning? a. Information about the company's expenses is necessary to tell whether it is profitable. b. TransCanada may have actually lost money the previous year. c. Most of the company's employees are relatively new. d. Sometimes sales revenue does not contribute toward profitability. e. TransCanada's competitors are having financial problems. Difficulty: 2 Page-Reference: 6 Question ID: 01-1-05 Skill: Analysis Objective: 1.1 Answer : a.Information about the company's expenses is necessary to tell whether it is profitable. 6. Barry, a manager, says that if his company's revenue had not increased last year, it would not have been able to increase its profits. What is the flaw in Barry's reasoning? a. Other similar companies have increased their profits, too. b. Revenue does not contribute to profitability. c. Profitability may not be the only objective of the company. d. The company can increase revenue by advertising more. e. Profits can also be increased by lowering costs, not just by increasing revenue. Difficulty: 2 Page-Reference: 6 Question ID: 01-1-06 Skill: Analysis Objective: 1.1 Answer : e.Profits can also be increased by lowering costs, not just by increasing revenue. 7. In a 2011 study, Forbes magazine ranked 134 countries in terms of how attractive they were to do business in. Where did Canada rank? a. First Second b. c. Fifth d. Twenty-fifth e. Eighty-seventh Difficulty: 2 Page-Reference: 7 Question ID: 01-1-07 Skill: Knowledge Objective: 1.1 Answer : a.First 8. This week, Jessica's Variety Store had sales of $4,000, employees were paid $1,000, the cost of goods was $1,500, and rent was $500. Profit for the week was a. $3,000. b. $1,000. c. $4,000. d. $2,000. e. $1,500. Difficulty: 2 Page-Reference: 6 Question ID: 01-1-08 Skill: Application Objective: 1.1 Answer : b.$1,000. 9. Profit is a. the market value of shares of stock in a company. b. the level of expenses divided by the firm's assets. c. what remains after business expenses are subtracted from business revenues. d. gross revenue minus taxes a company pays. e. gross sales minus taxes a company pays. Difficulty: 1 Page-Reference: 6 .
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