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BUS 508 Final Exam Answers

BUS 508 Final Exam Answers Part 1 Question 1 Tactical planning is primarily the responsibility of ________. Question 2 Management is the process of achieving ________ through people and other resources. Question 3 A written explanation of an organization’s business intentions and aims is called a(n) ________. Question 4 The set of relationships that indicates who gives directions to whom and who reports to whom is known as the ________. Question 5 According to Maslow, an individual’s first priority is given to which level of need? Question 6 The Americans with Disabilities Act makes it illegal for a company to ask about a job applicant’s health when that applicant is applying for a position, unless ________. Question 7 The purpose of the EEOC is to ________. Question 8

According to Maslow, the desire to be valued and recognized by others is a(n) ________ need. Question 9 Under __________, employees receive stock shares or the value of the stock upon retiring or leaving the company. Question 10 Which of the following is considered an upward communication channel? Question 11 What is considered to be the biggest problem with email as a form of business communication? Question 12 During the performing stage, team members ________. Question 13 Which production process describes a manufacturing operation in which long production runs generate finished products over a period of time? Question 14 Which of the following are combined to result in mass production? Question 15 The want-satisfying power of a good or service is called ________. Question 16 A(n) ________can repeat the same tasks numerous times without varying its movement. Question 17 The marketing strategy that focuses on the precise way a B2B purchaser will use a product is known as _______________. Question 18 Standardization would be most appropriate for all of the following products except ______.

Question 19 Developing and maintaining long-term, cost-effective exchange relationships with individual customers, suppliers, employees, and other partners for mutual benefit characterizes ________. Question 20 ________ utility is created when the business firm converts raw materials into finished goods and services. Question 21 American Express is an effective brand name because it ________. Question 22 Jan takes her car to Oil Express for an oil change. This is an example of a(n) ________. Question 23 In which stage of the product life cycle do competitors enter the field with similar offerings? Question 24 In a process called ________, products pass through a series of stages from their initial appearance to their decline. Question 25 A combination of product lines represents a company’s ________. Part 2 Question 1 Mailing out samples is particularly useful in promoting ________. Question 2 Business costs that remain change with the level of production are called ________ costs. Question 3 The process of finalizing a sale is the ________.

Question 4 In breakeven analysis, the costs that change with the level of production are considered ________ costs. Question 5 A leading manufacturer of exercise bicycles ran a full-page advertisement in a health magazine comparing the price of its bicycle with that of a leading competitor. The manufacturer is using ________. Question 6 Courtney’s office in south Florida was destroyed by a hurricane last year, and she lost numerous company documents. After relocating, Courtney took no chances and implemented ________, in which she backed up her data in a secure online storage service. Question 7 Which of the following reasons is a reason for the increasing popularity of notebook computers? Question 8 Which of the following is considered information rather than data? Question 9 Which of the following is an application program? Question 10 An information system that provides relevant data to help businesspeople choose the appropriate course of action is called a(n) ________. Question 11 All of the following are profitability ratios EXCEPT ________. Question 12 Who is recognized worldwide as the body with sole responsibility and authority to issue pronouncements on international accounting standards? Question 13

________ ratios are designed to indicate how successful a firm is in terms of its earnings as compared with its assets or owners’ equity. Question 14 Who appoints the members of the Public Company Accounting Oversight Board? Question 15 ________ activities provide the necessary funds to start a business and to expand it after it begins operations. Question 16 What provision allows the issuer to redeem the bond before its maturity at a specified price? Question 17 The U.S. Department of Treasury sells what type of bonds? Question 18 In the U.S. financial system, which of the following is a net saver? Question 19 Bonds with ratings of BBB and above are classified as ____. Question 20 The rate the Fed charges member banks for short-term loans is called the ________. Question 21 ________ would be the LEAST likely to obtain a private placement. Question 22 A company’s financial plan should answer all of the following questions EXCEPT ________. Question 23 Which of the following individuals has the direct responsibility for shareholder relations?

Question 24 Borrowing money ________. Question 25 Two types of divestitures are _____.

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