Busn115 week 2 quiz 2017

QuestionQuestion 1(TCO 1) A(n) _____ is a framework of how a business intends to generate revenue.business modelstrategic management toolprofitability analysiscompetitive advantageentrepreneurialmindsetQuestion 2(TCO 1) Which of the following statements is true regarding business mindset?It involves seeing the business from the outside in.It is incompatible with corporate responsibility.It involves appreciating the challenges a company faces in satisfying customer needs.It involves acknowledging that businesses always benefit society.It involves ignoring one's customer experiences.Question 3(TCO 1) _____ audit the financial reports of public companies as required by law.Internal accountantsExternal auditorsCredit managersManagement accountantsForensic accountantsQuestion 4(TCO 1) When the number of competitors in a market is quite small, a situation known as _____ is created.monopolymonopsonyoligopolymonopolistic competitionpure competitionQuestion 5(TCO 1) _____ unemployment is the natural movement of workers into and out of jobs, such as when a person quits one job without first lining up a new job.StructuralIntrinsicFrictionalCyclicalSeasonalQuestion 6(TCO 1) ________ taxes, levied on the earnings of individuals and businesses, are the government's largest single source of revenue.IncomePropertySalesExcisePayrollQuestion 7(TCO 1) _____ is the process of influencing and motivating people to work willingly and effectively toward common goals.OrganizingLeadingPlanningDirectingControllingQuestion 8(TCO 1) The overall plan might be supported at the next level down by such plans as a research and development plan, a manufacturing plan, and a marketing plan. Such functional plans are called _____ plans.appraisalstrategiccontingencytacticalcorporateQuestion 9(TCO 1) _____ leaders act as advisors and supporters and generally let subordinates chart and adjust their own course toward meeting agreed-upon goals and objectives.ParticipativeConsultativeAutocraticTransactionalLaissez-faireQuestion 10(TCO 2) An embargo is a _____.quantity restriction on the import of particular goods or servicessurcharge imposed on the import of certain productssubsidy offered to products exported from a countrycomplete ban on the import or export of certain productsform of financial assistance extended to domestic producersQuestion 11(TCO 2) The North American Free Trade Agreement (NAFTA) was formed by the United States, Canada, and _____.Costa RicaJamaicaCubaMexicoHondurasQuestion 12(TCO 2) _____ refers to buying goods or services from a supplier in another country.FranchisingImportingLicensingPartneringIntermediatingQuestion 13(TCO 2) The use of unpublicized information that an individual gains from the course of his or her job to benefit from fluctuations in the stock market is called _____.a code of ethicswhistle-blowinginsider tradingutilitarianismstrategic CSRQuestion 14(TCO 2) Which of the following statements is true regarding whistle-blowing?Whistle-blowing is the normal channel through which employees can address issues involving unethical or illegal behavior within their companies.Whistle-blowing refers to the use of unpublicized information that an individual gains from the course of his or her job to benefit from fluctuations in the stock market.Whistle-blowing occurs when employees share confidential company information with external agents for personal gain.The federal and state laws governing whistle-blowing are simple and clear, so that they can be easily used by employees and employers to navigate through.Although whistle-blowing is sometimes characterized as "ratting on" colleagues or managers, it has an essential function.Question 15(TCO 2) The manager of a golf course awards a landscaping contract to his brother-in-law's company, even though another company was willing to do the same work for less money. This is an example of a(n) _____.defensive CSRcode of ethicsconflict of intereststrategic CSRethical dilemma