Contemporary Business
Final Exam
Course Introduction
Contemporary Business explores the dynamic landscape of modern organizations, examining how globalization, technology, ethics, and innovation shape business operations and decision-making. This course covers foundational business concepts such as management, marketing, finance, and entrepreneurship while emphasizing current trends and challenges facing today's enterprises. Through real-world case studies, learners gain insights into how businesses adapt to shifting economic, social, and regulatory environments, preparing them to navigate and succeed in a rapidly evolving global marketplace.
Recommended Textbook
BUSN 10th Edition by Marcella Kelly
Available Study Resources on Quizplus
18 Chapters
1701 Verified Questions
1701 Flashcards
Source URL: https://quizplus.com/study-set/1580 Page 2
Chapter 1: Business Now:
Available Study Resources on Quizplus for this Chatper
97 Verified Questions
97 Flashcards
Source URL: https://quizplus.com/quiz/31341
Sample Questions
Q1) Spearhead Flight Academy uses flight simulation games to train its students in the basics of aviation. It uses these games to make its students more effective and efficient. In addition, it also offers six months of flight training. In this context, which of the following dimensions of the business environment is affected the most?
A)The global environment
B)The economic environment
C)The social environment
D)The technological environment
Answer: D
Q2) In the context of the history of American business, which of the following statements is true of the industrial revolution?
A)Firms aimed at building long-term relationships with their customers.
B)There was a loss of personal pride in the production process.
C)Production efficiency was at its lowest.
D)There was a creation of individual ownership in the production process.
Answer: B
To view all questions and flashcards with answers, click on the resource link above.
3
Chapter 2: Economics: the Framework for Business
Available Study Resources on Quizplus for this Chatper
98 Verified Questions
98 Flashcards
Source URL: https://quizplus.com/quiz/31342
Sample Questions
Q1) __________is a form of unemployment that involves layoffs during recessions.
A)Cyclical
B)Isochronal
C)Periodical
D)Seasonal
Answer: A
Q2) A newly appointed government in the United States requests Congress to raise the amount of money that the government can borrow. This borrowed money is intended to be used to cover the costs of the major policies that it plans to implement. In this scenario, the government has asked the Congress to hike its _____.
A)discount rate
B)fiscal cliff
C)debt ceiling
D)down payment
Answer: C
Q3) The amount of input divided by the amount of output equals productivity.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above.
Page 4
Chapter 3: The World Marketplace: Business Without Borders
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/31343
Sample Questions
Q1) __________range from simple barter to a complex web of exchanges that end up meeting the needs of multiple parties.
A)Individual outsourcing agreements
B)Individual countertrade agreements
C)Individual direct selling agreements
D)Individual licensing agreements
Answer: B
Q2) In the late 1970s, LarceCo, a tea manufacturing company, entered the market of a developing country called Fantesnia. As there was a lack of hard currency in Fantesnia, LarceCo was involved in a barter system. It exchanged its tea-based products for the local vodka of Fantesnia. This scenario illustrates that LarceCo had engaged in _____.
A)countertrade
B)foreign outsourcing
C)franchising
D)direct investment
Answer: A
To view all questions and flashcards with answers, click on the resource link above.
Page 5
Chapter 4: Business Ethics and Social Responsibility: Doing
Well by Doing Good
Available Study Resources on Quizplus for this Chatper
92 Verified Questions
92 Flashcards
Source URL: https://quizplus.com/quiz/31344
Sample Questions
Q1) Andrew, an employee in a corporate company, is asked to conduct a systematic evaluation of how well the company is meeting its ethics and corporate responsibility goals. In the given scenario, Andrew is most likely asked to do a _____.
A)social audit
B)continuous audit
C)statutory audit
D)horizontal audit
Q2) Aragon, a brand of inverters, provides products that work well in the first year of their use. The performance of the products, however, starts declining after the first year, and the products eventually become unusable within a short period of time. The pattern of breakdown is similar for all Aragon inverters. Reports suggest that Aragon intentionally creates inferior products to increase repurchases. In the given scenario, Aragon is guilty of _____.
A)project mismanagement
B)planned obsolescence
C)crash simulation
D)modular function deployment
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Business Communication: Creating and Delivering Messages That Matter
Available Study Resources on Quizplus for this Chatper
92 Verified Questions
92 Flashcards
Source URL: https://quizplus.com/quiz/31345
Sample Questions
Q1) Which of the following communication channels helps your audience benefit from hearing your tone and how it changes through the chat?
A)Texting
B)Telephone conversation
C)Social networking
D)Email
Q2) In American culture, older people tend to experience negative age bias more often than younger people.
A)True
B)False
Q3) In the context of the various roles employees take up in an organization, who among the following is least likely to spend most of their time listening?
A)Senior executives
B)Hourly employees
C)Managers
D)Salespeople
Q4) A business email should have a compelling subject line.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Business Formation: Choosing the Form That Fits
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/31346
Sample Questions
Q1) Tangypop and Fizzmania, two giant soft drink companies in Brazil, join together to form a new company out of the two previously independent firms. They take this step to reduce competition, leverage economies of scale, and increase their size and market power within the soft drink industry. This association is most likely an example of a
A)sole proprietorship
B)horizontal merger
C)conglomerate merger
D)divestiture
Q2) Hot and Black Tide Inc., an electronics manufacturer, merges with Crimp Corp., a food manufacturing brand, to make the firms less vulnerable to adverse conditions in any single market. This scenario is an example of a(n) _____.
A)asset acquisition
B)carryover
C)conglomerate merger
D)divestiture
Q3) Franchising is used by companies to move into foreign markets.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 8
Chapter 7: Small Business and Entrepreneurship: Economic
Rocket Fuel
Available Study Resources on Quizplus for this Chatper
91 Verified Questions
91 Flashcards
Source URL: https://quizplus.com/quiz/31347
Sample Questions
Q1) James is always keen on putting his ideas into action regardless of the outcome. He perfects his craft by trying out different possibilities. If he is dissatisfied with the result, he tries out a different method but does not give up. Which entrepreneurial characteristic is highlighted in the given scenario?
A)Docility
B)Self-reliance
C)Vision
D)Conformity
Q2) Jenifer owns a bakery that specializes in preparing extravagant wedding cakes. She is a sought-after baker because of the quality and finesse of her products. Jenifer believes that the pressure of living up to the expectations of her customers and delivering quality products always keeps her on the edge and helps her to deliver her best. Which of the following advantages of entrepreneurship is highlighted in the given scenario?
A)Challenge
B)Independence
C)Survival
D)Flexibility
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Accounting: Decision Making by the Numbers
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/31348
Sample Questions
Q1) David, a financial accountant at a multinational company, is asked to study the comparative financial statements of a prospective partner firm. He uses comparative income statements to determine the changes in the assets and liabilities of the firm and whether the net income of the firm has increased or decreased over the past five years. In this scenario, David is most likely using _____.
A)activity-based costing
B)horizontal analysis
C)a statistical syllogism
D)static analysis
Q2) A firm's operating budget represents the firm's overall plan of action for a specified time period.
A)True
B)False
Q3) In the context of financial statements of a company, cash flow statements commonly begin with _____.
A)net income
B)net debt
C)the shared profit amount
D)the shared expenses
To view all questions and flashcards with answers, click on the resource link above.
Page 10
Chapter 9: Finance: Acquiring and Using Funds to Maximize
Available Study Resources on Quizplus for this Chatper
110 Verified Questions
110 Flashcards
Source URL: https://quizplus.com/quiz/31349
Sample Questions
Q1) If an invoice lists the terms of trade credit as 2/10 net 30, it means that the supplier is offering a 10 percent cash discount off the invoice price if the buyer pays within 2 days.
A)True
B)False
Q2) Umbero Nix, a garment manufacturing company, produces twenty thousand units of sweaters. These units are sold within three months and replenished with another twenty thousand units. In one year, Umbero Nix replaces its inventory of sweaters four times over. Umbero Nix most likely analyzes _____ to measure how many times its inventory is sold and replaced each year.
A)liquidity ratios
B)profitability ratios
C)leverage ratios
D)asset management ratios
Q3) One of the major sources of equity financing for corporations is _____.
A)trade credit
B)retained earnings
C)short-term bank loans
D)corporate bonds
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Financial Markets: Allocating Financial Resources
Available Study Resources on Quizplus for this Chatper
92 Verified Questions
92 Flashcards
Source URL: https://quizplus.com/quiz/31350
Sample Questions
Q1) A drawback of actively managed funds is:
A)the meagre fee that the professional managers of the funds receive.
B)that significant tax consequences occur when there is a lot of trading.
C)the difficulty in redeeming shares from the fund.
D)the uncertainty of recovering at least a portion of the initial investment.
Q2) In the context of a public offering, a(n)__________is a complex document that must include a firm's key financial statements plus additional information about the company's management, its properties, its competition, and the intended uses for the funds it plans to obtain from the offering.
A)registration statement
B)corporate bylaw
C)article of incorporation
D)franchise agreement
Q3) National Association of Securities Dealers Automated Quotation System (NASDAQ) started as a physical location where brokers met to buy and sell stocks for their clients.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 12
Chapter 11: Marketing: Building Profitable Customer
Connections
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/31351
Sample Questions
Q1) Demographic segmentation refers to dividing the market based on where consumers live.
A)True
B)False
Q2) Spalkyn, a footwear company, allows its customers to shop online on its website or mobile app or at its physical stores. At the company's physical stores, customers are given the option to pick up their products or have them delivered. In the context of marketing, which of following utilities does Spalkyn most likely provide?
A)Form utility
B)Time utility
C)Task utility
D)Ownership utility
Q3) Which of the following statements is true of loyal customers?
A)They require more service.
B)They forgive marketers' mistakes.
C)They do not refer their friends.
D)They may not provide feedback.
To view all questions and flashcards with answers, click on the resource link above.
Page 13
Chapter 12: Product and Promotion: Creating and Communicating Value
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/31352
Sample Questions
Q1) In order to promote its brand, Lambrotto, an Italian manufacturer of leather shoes, makes a deal with the organizers of an upcoming baseball league. Lambrotto pays the organizers a substantial sum of money to have the brand's banners with its logo and slogans displayed all across the baseball ground and the stadium. Lambrotto engages in this activity to gain maximum visibility. This scenario exemplifies _____.
A)sponsorship
B)cross-selling
C)lobbying
D)vertical integration
Q2) Product diffusion happens at different speeds, depending on the individual consumer and on the product itself.
A)True
B)False
Q3) In the growth stage of the product life cycle, competition:
A)is virtually nonexistent.
B)begins as firms enter the market with new variations of existing products.
C)decreases with many weaker firms already leaving the market.
D)spurs major price cuts, which dramatically cut into profits.
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 13: Distribution and Pricing: Right Product Right
Person Right Place Right Price
Available Study Resources on Quizplus for this Chatper
91 Verified Questions
91 Flashcards
Source URL: https://quizplus.com/quiz/31353
Sample Questions
Q1) Lynk Corp. drives perishable goods, such as eggs, bread, and muffins to small grocery stores. In addition to taking legal title of the goods it distributes, Lynk Corp. also checks the stock and suggests reorder quantities to the grocery stores. It is evident that Lynk Corp. is a(n) _____.
A)agent
B)broker
C)drop shipper
D)truck jobber
Q2) In the context of pricing strategies, companies usually express volume goals in terms of profitability.
A)True
B)False
Q3) In _____, marketers determine prices based on what consumers are willing to pay and then subtract their desired margins to yield target costs.
A)cost-based pricing
B)demand-based pricing
C)gap-determined pricing
D)fixed-margin pricing
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 14: Management Motivation and Leadership: Bringing Business to Life
Available Study Resources on Quizplus for this Chatper
95 Verified Questions
95 Flashcards
Source URL: https://quizplus.com/quiz/31354
Sample Questions
Q1) Juan, the CEO of a technology firm, believes that the firm's employees are intelligent, creative, and hardworking. He is convinced that they are passionate about their work and that they can be further motivated through rewards. In this scenario, Juan's views about his workers are consistent with _____.
A)Theory X assumptions
B)Theory Y assumptions
C)the assumptions of Maslow's hierarchy of needs theory
D)the assumptions of the two-factor theory
Q2) Writers' Block, a web content development firm, has various subject-specific teams. At times when there is a strict deadline for a particular project, the copy editors from other teams are asked to work on another team's project on a temporary basis. In this case, Writers' Block is an example of a _____ organization.
A)line
B)line-and-staff
C)matrix
D)parallel
Q3) Typical titles of first-line managers include foreman and section leader.
A)True
B)False
Page 16
To view all questions and flashcards with answers, click on the resource link above.
Chapter 15: Human Resource Management: Building a
Top-Quality Workforce
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/31355
Sample Questions
Q1) Clarence, the business development manager at Repotull, an e-commerce site, was offered a job with a better pay in one of Repotull's rival companies. He decided to accept the job offer because of the increase in pay. In the context of human resource planning, this scenario best illustrates _____ at Repotull.
A)employee separation
B)negative leniency
C)halo effect
D)employee selection
Q2) __________is the first step in the training and development process, designed to introduce employees to the company culture and provide key administrative information.
A)Orientation
B)An interview
C)A performance appraisal
D)Job analysis
Q3) According to the Equal Employment Opportunity Commission (EEOC), sexual harassment includes the presence of a hostile work environment.
A)True
B)False
Page 17
To view all questions and flashcards with answers, click on the resource link above.
Chapter 16: Managing Information and Technology: Finding
New Ways to Learn and Link
Available Study Resources on Quizplus for this Chatper
91 Verified Questions
91 Flashcards
Source URL: https://quizplus.com/quiz/31356
Sample Questions
Q1) Mervin, an employee of a non-governmental organization, conducts a survey among children about the awareness of traffic rules. The facts and figures collected by him are processed and organized by an analytic team to conclude whether the surveyed children are aware of traffic rules. In this scenario, the report that would be prepared by the analytic team can be referred to as _____.
A)statistics
B)data
C)information
D)cybermediary
Q2) Cloud resources are not confined to a specific platform or operating system.
A)True
B)False
Q3) BlueWink, a popular marketing firm, requires a mechanism to protect its confidential data and client details from hackers, cyber criminals, and other security threats. Which of the following should BlueWink use as a safeguard?
A)Expert systems
B)Firewalls
C)Cybermediaries
D)Intranet
Page 18
To view all questions and flashcards with answers, click on the resource link above.
Chapter 17: Operations Management: Putting It All Together
Available Study Resources on Quizplus for this Chatper
92 Verified Questions
92 Flashcards
Source URL: https://quizplus.com/quiz/31357
Sample Questions
Q1) In today's highly competitive global markets, operations managers:
A)realize that a product that offers better features attracts more customers than one that has a lower price.
B)recognize that achieving efficiency is more important than achieving effectiveness.
C)focus primarily on keeping costs low so as to make a profit while keeping prices competitive.
D)focus solely on the benefits of products, while completely ignoring the costs of manufacturing those products.
Q2) Esteban, a manager of the assembling unit of Instantaneous Cars, comes up with an idea to reduce the possibility of defects in the final product. He decides to form a quality assurance group that would be responsible for monitoring the process, point out errors to the workers, and provide solutions for the errors committed. In this scenario, Esteban follows the total quality management approach by using _____.
A)Six Sigma
B)poka-yokes
C)lean production
D)automation
To view all questions and flashcards with answers, click on the resource link above. Page 19
Chapter 18: Appendix: Personal Finance
Available Study Resources on Quizplus for this Chatper
92 Verified Questions
92 Flashcards
Source URL: https://quizplus.com/quiz/31340
Sample Questions
Q1) Norman, a musician, needs to buy sound equipment for his stage shows, but he does not have the required funds for it. He, therefore, purchases the equipment using a card issued by his bank that lets him clear the balance later. Although Norman does not need to pay the due amount immediately, he can only make purchases using the card for a limited amount of money. In this scenario, Norman's purchases are limited because he has a low _____.
A)loan-to-value ratio
B)annual shopping percentage
C)tax benefit
D)credit score
Q2) Alex holds a corporate bond in a wool manufacturing company. This bond is a formal IOU issued by the company. As a bondholder, Alex's relationship with the company is that of a(n):
A)creditor.
B)borrower.
C)stockholder.
D)owner.
Q3) A budget starts with a forecast of your investments.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 20