BF - Final Exam Practice Questions_Student

BUSM 10000D | Business Fundamentals | Student Worksheet Multiple Choice/Short Answer Practice Questions | Final Exam Answer the following multiple choice questions below. There may be as many as FIVE (5) questions on the Final Exam . Use the answer key that will be posted in Week #14 Post-work tab to check your answers. Part A: Multiple Choice 1. As stated in the textbook, the three general factors that have been identified as important in causing individuals to behave in unethical ways are: a. The chance for financial gain, increased status, and poor control systems. b. Pressure, opportunity, and rationalization. c. The chance for financial gain, status, and power. d. Pressure from peers, subordinates, and superiors. 2. The term "ethics" refers to… a. standards or moral values regarding what is right and wrong. b. avoiding doing things that, if everyone did it, we would have a real mess. c. believing what's right for one person is wrong for another. d. conflicts of interest that develop between two co- workers. 3. Starbucks's Card Rewards attracts return customers with free coffee refills and other extras. This is an example of a. industrial marketing. b. relationship marketing. c. consumer marketing. d. marketing research. 4. A company decides to introduce a line of crackers made with organically grown grains and vegetables. What environmental trend is the company responding to? a. Competitive b. Socio-cultural c. Political-legal d. Economic 5. When a company turns out Christmas ornaments and the operations team ensures they are available in the stores in November just prior to the holiday season; this would BEST demonstrate meeting the criteria of… a. Price utility b. Ownership utility c. Place utility d. Time utility 6. What results are expected from a successful product differentiation program? a. The manner in which the product functions must be changed. b. Differentiation requires that prices be mid-level in order to generate a high volume of sales. c. Customer response to the product will change. d. Differentiation requires that prices be high in order to generate a high volume of sales. 7. With regard to the distinction between unethical and illegal behaviour, it is correct to say that a. something that is illegal is also unethical. b. a given act can be ethical, yet illegal. c. the distinction between unethical and illegal behaviour has no practical significance. d. it is impossible for something to be unethical and legal at the same time. 8. Due to a downturn in the local economy, Bob is concerned about converting his assets to cash quickly. In accounting terms , he is apprehensive about… a. Current assets b. Short-term solvency c. Liquidity d. Net income 9. One of the key differences between service and manufacturing operations is a. manufacturing products are characterized by intangibility and customization. b. manufacturing operations feature a unique link between process and outcome. c. manufacturing operations are less storable. d. services are performed, but goods are produced. 10. An asset is… a. the amount of money originally invested in a business by its owners. b. the amount of money that owners would receive if they sold all of a firm's assets and paid all of its liabilities. c. the profits earned by and reinvested in the company. d. any economic resource expected to benefit a firm or an individual who owns it.