Business in Canada Exam Bank
Course Introduction
This course provides an in-depth overview of the Canadian business landscape, exploring its economic environment, legal framework, and unique cultural influences on commercial practices. Students will examine the roles of various sectors including natural resources, technology, and services while analyzing the impact of government policies, trade agreements, and multiculturalism on business operations. The course also covers key topics such as entrepreneurship, Indigenous business initiatives, sustainability, and the challenges faced by businesses in a dynamic and diverse Canadian market.
Recommended Textbook
Future of Business 5th Canadian Edition by Norm Althouse
Available Study Resources on Quizplus
18 Chapters
2559 Verified Questions
2559 Flashcards
Source URL: https://quizplus.com/study-set/272 Page 2
Chapter 1: Political Environment
Available Study Resources on Quizplus for this Chatper
99 Verified Questions
99 Flashcards
Source URL: https://quizplus.com/quiz/4456
Sample Questions
Q1) To stimulate competition and protect both consumers and workers, what does the federal government do?
A) It places heavy taxes on companies in monopolistic competition.
B) It creates business systems to meet the needs of all consumers.
C) It creates regulations to intervene in the free market.
D) It places limits on international trade in order to stimulate domestic production.
Answer: C
Q2) Municipalities use bylaws to regulate how businesses operate.
A)True
B)False
Answer: True
Q3) What does the code of conduct for procurement try to ensure for both public servants and vendors?
Answer: The goal of the code of conduct for procurement is more transparency in marketing, operations, and corporate social responsibility from Canadian businesses and government.
Q4) Why was the Competition Act established?
Answer: To protect consumers from things like conspiracies, monopolies, and mergers.
To view all questions and flashcards with answers, click on the resource link above. Page 3
Chapter 2: Economic Environment
Available Study Resources on Quizplus for this Chatper
160 Verified Questions
160 Flashcards
Source URL: https://quizplus.com/quiz/4457
Sample Questions
Q1) Which of the following is the study of how a society uses scarce resources to produce and distribute goods and services?
A) finance
B) acculturation
C) economics
D) marketing
Answer: C
Q2) Which of the following is the study of the economy as a whole, looking at aggregate data for large groups of people, companies, or products?
A) economics aggregation
B) national economics
C) microeconomics
D) macroeconomics
Answer: D
Q3) Which market structure is an ideal and does not really exist?
Answer: perfect or pure competition
Q4) What is the name of the business cycle that follows a recessionary one?
Answer: recovery
To view all questions and flashcards with answers, click on the resource link above.
Page 4
Chapter 3: Social Environment
Available Study Resources on Quizplus for this Chatper
142 Verified Questions
142 Flashcards
Source URL: https://quizplus.com/quiz/4458
Sample Questions
Q1) Organizations can reduce the potential for bad business ethics within their organization by doing which of the following?
A) have all employees help write the code of ethics
B) educating their employees about ethical standards
C) hire only ethical employees
D) hire an ethics consultant
Answer: B
Q2) In the pyramid of corporate social responsibility, economic performance is the foundation for legal responsibility.
A)True
B)False
Answer: True
Q3) A company can be concerned about which of the following types of responsibilities after it has met its economic and legal responsibilities?
A) societal
B) stakeholder
C) ethical
D) cultural
Answer: C
To view all questions and flashcards with answers, click on the resource link above.
Page 5
Chapter 4: Technological Environment
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/4459
Sample Questions
Q1) Which of the following is NOT one of the activities that businesses monitor through technology?
A) worker productivity
B) email
C) production schedules
D) daily sales
Q2) Most of the information used to make decisions in business is proprietary.
A)True
B)False
Q3) Many companies have hired a chief information officer (CIO) to be responsible for managing all information resources.
A)True
B)False
Q4) E-commerce companies like Amazon, Shop.ca, and Alibaba are classified as which of the following?
A) channel disruptors
B) deep discounters
C) intermediaries
D) cyberfirms
Q5) Different technology systems can cause a problem in which aspect of businesses?
Page 6
To view all questions and flashcards with answers, click on the resource link above.
Chapter 5: International Environment
Available Study Resources on Quizplus for this Chatper
148 Verified Questions
148 Flashcards
Source URL: https://quizplus.com/quiz/4460
Sample Questions
Q1) Which of the following are goods and services that are made in a country and sold to other countries?
A) tangibles
B) countertrades
C) exports
D) imports
Q2) What happens when a country lowers the value of its currency relative to other countries?
Q3) Companies can use several methods to participate in the global marketplace. To which of the methods is franchising most closely related?
Q4) The European Union has 35 member countries.
A)True
B)False
Q5) How does an infrastructure influence a country's economic development?
Q6) When a country sells its products in a foreign country at a cheaper price than usual, and sometimes even at a loss, it is dumping products.
A)True
B)False
Q7) What term has the opposite meaning from "protectionism"?
Page 7
To view all questions and flashcards with answers, click on the resource link above.
Chapter 6: Entrepreneurship and Small Business
Available Study Resources on Quizplus for this Chatper
137 Verified Questions
137 Flashcards
Source URL: https://quizplus.com/quiz/4461
Sample Questions
Q1) Which of the following terms would be used to identify the person who takes the risk of starting and managing a business to make a profit?
A) entrepreneur
B) franchiser
C) venture capitalist
D) capitalistic adventurer
Q2) What is one of the main reasons the number of people starting businesses has decreased?
A) a desire for more security
B) difficulty obtaining financing
C) a desire to avoid the stress of business ownership
D) a desire for corporate benefits such as extended health insurance, vacation, etc.
Q3) What is one way for the owner of a small business to keep in touch with all areas of the business?
A) hire assistant managers to report to him
B) work in each area one day a week
C) do all the work himself and hire no employees.
D) have a solid business plan
To view all questions and flashcards with answers, click on the resource link above.
8
Chapter 7: Understanding the Business
Available Study Resources on Quizplus for this Chatper
125 Verified Questions
125 Flashcards
Source URL: https://quizplus.com/quiz/4462
Sample Questions
Q1) Which of the following is a mathematical tool financial managers use to assess the financial strengths and weaknesses of their company?
A) CAD/CAM
B) value stream mapping
C) capital budgeting
D) ratio analysis
Q2) Porter's five forces model focuses on the five forces that shape competition within an industry.
A)True
B)False
Q3) Explain the purpose of a SWOT analysis.
Q4) Which of the following compare(s) select items in financial statements by computing percentages, rates, and proportions?
A) profitability quotients
B) ratio analysis
C) vertical analysis
D) pro rata analysis
Q5) What are some of the critical success factors for a business?
Q6) What are the major financial statements? Describe each one.
Page 9
To view all questions and flashcards with answers, click on the resource link above.
Chapter 8: Forms of Business Ownership
Available Study Resources on Quizplus for this Chatper
130 Verified Questions
130 Flashcards
Source URL: https://quizplus.com/quiz/4463
Sample Questions
Q1) Which of the following is a disadvantage for the fast-food franchisee?
A) ongoing management training programs
B) short-term credit for buying supplies
C) a peer group for support
D) royalty fees
Q2) List the two basic types of partnership.
Q3) For partnerships to be legal, they must be established in writing.
A)True
B)False
Q4) Why do most private companies become public companies?
A) to diversify the shareholders
B) to raise extra money
C) to gain more exposure
D) so the owners can get out of the business
Q5) 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.
Q6) Which form of business ownership is an ideal way to test new business ideas?
Page 10
To view all questions and flashcards with answers, click on the resource link above.
Chapter 9: Management and Leadership in Todays Organizations
Available Study Resources on Quizplus for this Chatper
156 Verified Questions
156 Flashcards
Source URL: https://quizplus.com/quiz/4464
Sample Questions
Q1) There are some basic guidelines managers should follow in order to engage and manage employees. Which of the following is an example of one of those guidelines?
A) give them many small rewards instead of one big one
B) have open dialogues with employees and get constant feedback
C) allow employees to take more ownership of their work
D) sit down with each employee and develop a career path within the organization
Q2) In which management role does the manager act as liaison and develop and maintain contacts outside his or her own departments?
A) functional
B) interpersonal
C) informational
D) decision making
Q3) Naif Afasi is a middle manager. He has the ability to negotiate, impress the right people, and make the right connections. Afasi has which of the following skills?
A) human relations
B) conceptual
C) functional
D) technical
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Designing Organizational Structures
Available Study Resources on Quizplus for this Chatper
158 Verified Questions
158 Flashcards
Source URL: https://quizplus.com/quiz/4465
Sample Questions
Q1) List the three structural building blocks used in designing an efficient and effective organizational structure.
Q2) Which of the following is the process of grouping jobs so that similar or associated tasks and activities can be coordinated?
A) departmentalization
B) standardization
C) centralization
D) specialization
Q3) The committee structure is when authority and responsibility are held by a group rather than an individual.
A)True
B)False
Q4) What does the management activity of organizing include?
A) reorganizing problem divisions
B) setting corporate strategies
C) allocating employees to specific tasks
D) assigning authority and responsibilities
Q5) What term best describes the type of organizational structure commonly found in the military?
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Motivating Employees
Available Study Resources on Quizplus for this Chatper
127 Verified Questions
127 Flashcards
Source URL: https://quizplus.com/quiz/4466
Sample Questions
Q1) According to Frederick Taylor's scientific management theory, what is the most important motivator in the workplace?
A) money
B) good communication
C) shorter hours
D) responsibility
Q2) Managers can use equity theory to do which of the following?
A) determine which employees would benefit from having a goal
B) improve worker satisfaction
C) match reward to performance for each individual employee
D) determine which employees are not working efficiently
Q3) According to Herzberg, hygiene factors can lead to which of the following results?
A) self-actualization
B) motivation
C) potential job dissatisfaction
D) job satisfaction
Q4) Commissions, bonuses, and retainer fees are all forms of variable pay.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 12: Managing Human Resources and Labour Relations
Available Study Resources on Quizplus for this Chatper
147 Verified Questions
147 Flashcards
Source URL: https://quizplus.com/quiz/4467
Sample Questions
Q1) What is the first step in the employee selection process?
Q2) Which of the following is a type of off-the-job training?
A) role-playing
B) simulation
C) benchmarking
D) mentoring
Q3) The first two stages in the selection process are the initial contact and the preliminary interview.
A)True
B)False
Q4) Hanson Aquatics manufactures navigational equipment. As a new Hanson employee, Peter Nkata was told that even if he decides not to join the union that represents the company's employees, he must pay the dues. Hanson has which of the following type of shop?
A) open shop
B) closed shop
C) membership-optional shop
D) agency shop
Page 14
Q5) What is the appropriate role of top management in managing diversity?
Q6) What are the two sources of job applicants?
To view all questions and flashcards with answers, click on the resource link above.
Page 15
Chapter 13: Marketing
Available Study Resources on Quizplus for this Chatper
159 Verified Questions
159 Flashcards
Source URL: https://quizplus.com/quiz/4468
Sample Questions
Q1) As part of its product strategy, Timex gives customers a one-year warranty on all watches that are marketed under the Timex brand.
A)True
B)False
Q2) Vlad Kjinn is doing observation research when he asks people to describe how they brush their teeth.
A)True B)False
Q3) Finding a competitive advantage, creating a marketing mix, applying marketing principles, and techniques is important for which of the following?
A) governments
B) not-for-profit organizations
C) colleges and universities
D) countries
Q4) What are the first two steps in the consumer decision-making process?
Q5) Customer value is the ratio of benefits to the sacrifice necessary to obtain those benefits.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 16
Chapter 14: Creating Marketing Strategies
Available Study Resources on Quizplus for this Chatper
183 Verified Questions
183 Flashcards
Source URL: https://quizplus.com/quiz/4469
Sample Questions
Q1) Which of the following business products would be considered an accessory in an insurance claims office?
A) computer
B) computer paper
C) printer cartridge
D) photocopier cartridge
Q2) Which of the following is defined as the selling price per unit times the number of units sold?
A) total revenue
B) unit cost
C) total cost
D) profit
Q3) What is another name for psychological pricing?
Q4) List two reasons that a company might use penetration pricing.
Q5) Agents are sales representatives for manufacturers or wholesalers and usually are hired on a commission basis.
A)True
B)False
Q6) List the elements of the promotional mix.
Q7) What is the goal of supply chain management?
To view all questions and flashcards with answers, click on the resource link above. Page 17
Chapter 15: Achieving World-class Operations Management
Available Study Resources on Quizplus for this Chatper
153 Verified Questions
153 Flashcards
Source URL: https://quizplus.com/quiz/4470
Sample Questions
Q1) Which of the following focuses on smoothing transitions along the supply chain so that the company can satisfy its customers with quality products and services while focusing on forging tighter bonds with its suppliers?
A) distribution smoothing
B) participative channel management
C) channel power management
D) supply chain management
Q2) Just-in-time is an inventory system that was developed in California and is starting to catch on in Japan.
A)True
B)False
Q3) Product layout is also called assembly-line layout.
A)True
B)False
Q4) What does total quality management focus on?
A) creating buyer/supplier dependence
B) computer-aided design
C) creating transactional relationships
D) continuous improvement
To view all questions and flashcards with answers, click on the resource link above. Page 18
Chapter 16: Accounting for Financial Success
Available Study Resources on Quizplus for this Chatper
156 Verified Questions
156 Flashcards
Source URL: https://quizplus.com/quiz/4471
Sample Questions
Q1) Which of the following classification of ratios reflects the speed with which resources are converted to cash or sales?
A) leverage
B) equity
C) activity
D) profitability
Q2) Which of the following classifications of ratios measures the degree and effect of the company's use of borrowed funds to finance its operations?
A) liquidity
B) debt
C) equity
D) profitability
Q3) 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
Q4) What is accounting?
To view all questions and flashcards with answers, click on the resource link above. Page 19
Chapter 17: Understanding Money and the Canadian Financial System
Available Study Resources on Quizplus for this Chatper
161 Verified Questions
161 Flashcards
Source URL: https://quizplus.com/quiz/4472
Sample Questions
Q1) List three types of nondepository financial institutions.
Q2) When Tiara Petark wanted to buy a new pickup truck, her credit rating was poor. Petark found that the only place she could get a loan was from which of the following?
A) brokerage company
B) finance company
C) insurance company
D) trust company
Q3) A trust company is a financial institution that conducts the same activities as a bank but can also administer estates, pension plans, and agency contracts.
A)True
B)False
Q4) Which of the following best describes credit cards?
A) They are sometimes referred to as funny money.
B) They replace money.
C) They are used as a substitute for cash but not cheques.
D) They defer payment to a later point in time.
Q5) What is the most important function of the Bank of Canada?
Page 20
Q6) What is wrong with the following statement: "Credit cards replace money"?
To view all questions and flashcards with answers, click on the resource link above.
Chapter 18: Finance
Available Study Resources on Quizplus for this Chatper
168 Verified Questions
168 Flashcards
Source URL: https://quizplus.com/quiz/4473
Sample Questions
Q1) Which of the following statements describes an advantage inherent in equity financing?
A) The company is not required to repay equity.
B) Interest is tax-deductible.
C) A company has an obligation to pay dividends.
D) Equity has a maturity date.
Q2) Who decides if and how much dividends should be paid?
A) CEO
B) shareholders
C) board of directors
D) finance department
Q3) The three main types of unsecured short-term loans are trade credit, bank loans and commercial paper.
A)True
B)False
Q4) In finance, the potential for loss is called probability.
A)True
B)False
Q5) List three forms of long-term debt that are available to companies.
Q6) What is financial management?
Page 21
To view all questions and flashcards with answers, click on the resource link above.