BUS 475 Capstone Final Examination Part 1 and Part 2 (Both)
BUS 475 Capstone Final Examination Part 1
1. In the managerial function of __________, managers encourage and motivate workers to work toward organizational goals.
2. eBay.com is a vast auction site that is similar to a competitive market in some ways but differs from it in others. Which of the following describes how eBay resembles a competitive market?
a) On eBay the large sellers dominate the market.
b) Sellers sometimes do not describe the products accurately on eBay.
c) There is a great variety of different products sold on eBay.
d) It is easy to enter and easy to leave eBay.
3. From the point of view of consumer surplus and producer surplus, what problem was created when Thailand subsidized the cost of energy to consumers to help alleviate the burden of higher energy costs?
a) It encouraged the consumption of too much fuel at the expense of other goods.
b) It has no effect; consumers gained consumer surplus, but taxpayers lost the same amount because they had to finance the subsidy.
c) It hurt the poor and benefitted the rich.
d) It led to less fuel being used than the amount that maximizes consumer surplus.
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4. The following is an example of a moral value judgment:
a) Keith Lewis must be a total flake.
b) The senator dresses well.
c) As an actress, Paris Hilton has a nice clothes rack.
d) I don’t deserve to be flunked for an honest mistake.
5. Research on the five-stage model of group development shows that
a) all groups pass through the norming stage.
b) not all groups go through each of the stages.
c) groups always pass through the stages in order.
d) all groups pass through the adjourning stage.
6. A standardized language used to manipulate data is
a) Microsoft Access.
b) a structured query language.
d) a data manipulation language.
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7. Business communication is often more demanding than social communication because communication on the job is affected by
a) desire to always advance and move up in an organization.
b) the growing reliance on teamwork in business.
8. Communication is the process of
a) listening actively.
b) talking constantly.
c) transferring information and meaning.
d) writing messages.
9. Aggregate demand management policies are designed most directly to
a) prevent budget deficits or surpluses
b) control the aggregate level of spending in the economy
c) minimize inflation
d) minimize unemployment
10. What is a subjective statement?
a) A statement that is fact
b) A statement made true by someone thinking it is true
c) A statement involving a subject
d) A statement that pertains to a chapter in a book
11. Brenda Butler, editor of the Republican, is trying to decide whether to take a job at a much larger newspaper or to become the CEO and publisher of the Republican. Brenda has to make this decision because of ________.
a) an opportunity
b) a threat
c) a problem
d) bounded rationality
12. The __________ as the number of levels in the organizational hierarchy increases.
a) scope of influence expands
b) span of control narrows
c) span of control expands
d) scope of influence narrows
13. Why do some stores offer senior citizen discounts on Tuesdays?
a) Senior citizens have more elastic demand schedules than do other shoppers.
b) Senior citizens have less elastic demand schedules than do other shoppers.
c) Most stores are perfect competitors in their geographic region.
d) Senior citizens have perfectly inelastic demand curves, whereas other shoppers do not.
14. What are the benefits of using IM in business communication?
a) Less personal
b) Ability to exclude those unable to use IM
c) To maintain a quiet work environment
d) Low cost
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15. Business environment pressures can come from which of the following?
a) Management restructuring
b) Quality control
c) Political changes
d) Cost reduction
16. The reliability of our observations is not better than the reliability of our ____________.
17. Utilitarianism is
a) an act that will produce less happiness than will alternatives, it is the right thing to do, and if it will produce more happiness, it would be wrong to do.
b) an act that will produce more happiness than will alternatives, it is the right thing to do, and if it will produce less happiness, it would be wrong to do.
c) an act that will produce more happiness than will alternatives, it is the wrong thing to do, and if it will produce less happiness, it would be right to do.
d) an act that will produce less happiness than will alternatives, it is the wrong thing to do, and if it will produce less happiness, it would be right to do.
18. Refer to the graph shown. With efficient production, this firm can maximize production at what point?
19. A valid contract must
a) use the title “Contract” at the top of the document
b) be signed by all parties
c) exist where all necessary legal elements for contract formation are present
d) be entirely in writing
20. “Fair use” is a defense to copyright infringement that
a) is available in all countries.
b) is non-statutory.
c) requires findings by a court.
d) is absolute.
21. One of the advantages of a server farm is that
a) servers can be stacked on top of one another, so less space is needed.
b) servers last longer in a server farm.
c) more people are required to maintain servers in a server farm.
d) if one server fails, an application can be automatically moved to another one.
22. Remedies for a contract breach may include
a) consequential damages.
b) no consideration of cost to the breaching party or parties.
c) punitive damages.
d) imprisonment and fines.
23. The reason economists and accountants have problems using cost analysis in the real world is that
a) although implicit costs do not show up in accounting profits, they nevertheless affect managerial decisions.
b) although explicit costs do not show up in accounting profits, they nevertheless affect managerial decisions.
c) explicit costs cannot be measured.
d) economists do not believe in the existence of explicit costs.
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24. Which of the following is an ethical issue?
a) Business Process Reengineering
b) Accuracy Question Source
c) Sales tax formulas
d) Software coding
25. Personality within an individual typically evolves ________.
a) when an individual changes jobs
b) relatively quickly
c) at no point during a lifetime
d) over approximately 25 years
26. What are some rhetorical devices used in persuasive messages?
27. The Administrative Procedures Act
a) provides for uniform procedural structures in regulatory agencies.
b) establishes regular order in congressional committees.
c) provides due process standards for the Judiciary Branch.
d) applies to the Judiciary Branch.
28. In a relational database, the customer record contains information regarding the customer’s last name. The last name is a(n):
d) primary key
29. What way can you build credibility with an audience when planning a persuasive message?
a) Use simple language.
b) Use difficult language.
c) Use descriptive language.
d) Use hostile language.
30. Which of the following groups would be most likely to benefit from a tariff on Japanese-manufactured light trucks (i.e., pickup trucks)?
a) U.S. consumers of pickup trucks
b) Japanese auto workers
c) U.S. domestic pickup truck manufacturers
d) U.S. firms that export products to Japan
31. What type of data visual would you use to illustrate trends over time?
a) Line chart
b) Gantt chart
c) Bar graph
d) Scatter diagrams
32. Which of the following is a wireless technology?
a) Fiber-optic connections
b) 4 G applications
c) Typical cable modem to router communication link
d) Communication between a modem and a router
33. Our most reliable source of information about the world is
a) the Internet.
b) our own observations.
d) cable news.
34. Business ethics may be defined as
a) minimizing decisions having potentially adverse consequences for business stakeholders
b) taking an expedient approach to any business situation
c) doing what is most advantageous for the business
d) a consciousness of what is right or wrong in the workplace
35. During an organizational confrontation meeting, __________ meet to confront the issue of whether the organization is effectively meeting its goals.
a) employees from all organizational levels
b) all of the managers of the organization
c) external and internal change agents
d) members of the top management team
36. An argument consists of two parts:
a) the point and the conclusion
b) the fact and the rebuttal
c) the premise and the conclusion
d) the subject and the outcome
37. How do you keep the audience’s attention?
a) Relate your subject to your audience’s needs
b) Offer a reward
c) Use confusing language
d) Talk about yourself
38. __________ are part of the elements of creativity?
a) Listening skills
b) Thinking skills
c) Domain skills
d) Athletic skills
39. Administrative law primarily stems from
a) the Executive Branch.
b) common law decisions of courts.
c) the Judicial Branch.
d) the Legislative Branch.
40. Suppose that at the current price consumers would like to purchase 10 million large-screen televisions and 15 million are available. When the market coordinates the demand and supply for large-screen televisions, the price of large-screen televisions will _______________.
a) stay the same
d) be fixed by government
41. Laura has dreamed of playing in a symphony. She practices her instrument every day and yet, year after year, she cannot successfully play the difficult musical piece necessary to try out. This is an example of
a) extrinsic motivation outweighing intrinsic motivation.
b) motivation being the main factor in performance.
c) motivation not equaling performance.
d) vicarious learning being of upmost importance.
42. What are the three major steps in the writing process?
a) Prepare, Write, and Complete
b) Plan, Write, and Complete
c) Plan, Construct, and Complete
d) Prepare, Construct, and Stop
43. Transactional leaders motivate followers by
a) inducing followers to support their vision.
b) inspiring them with charismatic behavior.
c) exchanging rewards for good performance.
d) overlooking mistakes or substandard performance.
44. A(n) _____________________ allows unauthorized entry into a wireless network.
a) rogue access point
b) cloud server
c) disgruntled employee
d) lack of encryption
45. What does quality of hire mean?
a) On a 1–10 scale, the hire is a 10
b) How good an employee is at getting hired
c) A measure of how a new employee is hired
d) A measure of how closely new employees meet the company’s needs
46. Critical to the systems development life cycle is
a) the identification of the time of year it is developed.
b) seeing what competitors provide.
c) the identification of the price charged to other customers.
d) knowing the customer’s goals and objectives.
47. A socially responsible company
a) is only concerned with shareholder value.
b) is concerned with its economic and social value and environmental impact.
c) constantly strives to reduce labor and material costs wherever possible.
d) primarily seeks to enhance executive compensation.
48. One of the principal roles of the Judiciary is
a) to resolve disputes.
b) to provide the other branches of government with legal counsel.
c) to issue common law writs.
d) to issue injunctions and related orders.
49. A nation’s comparative advantage in the production of an item is determined by
a) which country has already specialized in the production of the item.
b) the opportunity cost of producing the item relative to a trading partner’s opportunity cost.
c) the total and marginal costs of producing the item.
d) wage rates and other input costs.
50. According to Keynes, why might deflation create problems for an economy?
a) People would invest less into the economy.
b) In expectation of increased spending, too many entrepreneurs would begin businesses and most would fail.
c) Consumers might expect prices to fall further and cut back consumption now.
d) The cost of repricing goods would increase costs, and therefore reduce profits, for businesses and they would cut production.
BUS 475 Capstone Final Examination Part 2
1. Which of the following is the most important factor that affects a firm’s financing mix?
a) The predictability of cash flows
b) The number of shares that are outstanding
c) The amount of EPS
d) The amount of operating income
2. When an accountant makes an adjusting entry for accrued expenses, which statement best reflects what the accounts look like before the adjustment?
a) Assets overstated; expenses understated
b) Assets understated; revenues understated
c) Expenses understated; liabilities understated
d) Liabilities overstated; revenues understated
3. Which account will have a zero balance after a company has journalized and posted closing entries?
a) Accumulated Depreciation
b) Prepaid Insurance
c) Service Revenue
4. A __________ is an articulation of a simple criterion or characterization of what the leader sees the company must become to establish and sustain global leadership.
b) leader’s principle
c) leader’s vision
d) strategic intent
5. The market opportunities most relevant to a particular company are those that
a) Offer the best growth and profitability.
b) Provide avenues for taking market share away from close rivals.
c) Hold the most potential for product innovation.
d) Provide a strong defense against threats to the company’s profitability..
6. Internal control is used in a business to enhance the accuracy and reliability of its accounting records and to
a) Analyze financial statements.
b) Create a system of audit review.
c) Safeguard its assets.
d) Protect investments by the public.
7. What principle dictates that efforts (expenses) be recorded with results (revenues)?
a) Periodicity principle
b) Expense recognition principle
c) Cost principle
d) Revenue recognition principle
8. The Oviedo Thespians are planning to present performances of their Florida Revue on two consecutive nights in January. It will cost them $5,000 per night for theater rental, event insurance, and professional musicians. The theater will also take 10% of gross ticket sales. How many tickets must they sell at $10.00 per ticket to break even?
a) 1,223 tickets
b) 1,112 tickets
c) 1000 tickets
d) There is not enough information.
9. Which of the four basic financial statements adds net income and subtracts dividends to arrive at its key data element at the end of each period?
a) Balance Statement
b) Retained Earnings Statement
c) Income Statement
d) Statement of Cash Flows
10. H&R Block wants to analyze its clients’ tax returns over the past 10 years for each of the client’s tax filings. The type of data generated will be ______________.
a) time series data
b) observation data
c) meta data
d) cross-sectional data
11. A distribution center for a chain of electronics supply stores fills and ships orders to retail outlets. A random sample of orders is selected as they are received and the dollar amount of the order (in thousands of dollars) is recorded, and then the time (in hours) required to fill the order and have it ready for shipping is determined. A scatterplot showing the times as the response variable and the dollar amounts (in thousands of dollars) as the predictor shows a linear trend. The least squares regression line is determined to be: yˆ= 0.76 +1.8x. A plot of the residuals versus the dollar amounts showed no pattern, and the following values were reported: Correlation r + 0.90; R 2 = 0.81; standard deviation of the residuals is 0.48. What percentage of the variation in the times required to prepare an order for shipping is accounted for by the fitted line?
12. National Printing Equipment (NPE) produces equipment that helps to print newspapers and magazines. The company sells directly to printers and through wholesalers. Its salespeople negotiate prices with individual customers and often have to match competitors’ prices. NPE has a new product, the Gutenberg NP201, with some competitive advantages now, but competitors are expected to follow quickly with similar products. The new product is being introduced into a market with elastic demand. In regard to freight charges for its equipment, NPE’s invoice reads, “Seller pays the cost of loading equipment onto a common carrier. At the point of loading, title to such products passes to the buyer, who assumes responsibility for damage in transit, except as covered by the transportation agency.”
National Printing Equipment’s new Gutenberg NP201 should probably use ________________.
a) introductory pricing
b) price fixing
c) penetration pricing
d) skimming pricing
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13. __________ is the intentional coordination of every communication from a firm to a target customer to convey a consistent and complete message.
a) Integrated marketing communications
b) Online marketing
c) Product positioning
d) Digital marketing
14. Identifying and assessing a company’s resource strengths and weaknesses and its external opportunities and threats is called a __________________.
a) strategic resource assessment
b) competitive asset/liability analysis
c) SWOT analysis
d) competitive positioning analysis
15. Suppose Stock A has had a mean price of $6.58 per share with a standard deviation of $1.88, while Stock B has had a mean price of $10.57 per share with a standard deviation of $3.02. Which stock shows a higher coefficient of variation or volatility?
a) Stock B
b) Stock A
c) Both stocks have the same coefficient of variation.
d) The coefficients are incomparable.
16. Which of the following will decrease the nominal deficit?
a) An increase in the debt
b) An increase in interest rates
c) An increase in government expenditures
d) An increase in taxes
17. When predicting grade point average from the number of hours spent studying per week, the equation for the best fit line was found to be yˆ = 0.0855x + 0.944. What is the predicted grade point average of a student that studies 26 hours per week?
18. The main reason that vertical marketing systems are becoming more common is that
a) Firms increasingly understand that competition among channel members is profitable.
b) It is easy for multiple firms to coordinate a single marketing mix for a common target market.
c) Firms realize that working independently has advantages for channel members.
d) Firms recognize that coordination among channel members can increase sales for each channel member.
19. The appropriate alternative hypothesis for a two-tail test to determine if mean body weight of all the men who have joined a health club is the same as 185 pounds would be
a) Ho: µ = 185 lbs.
b) Ho: µ? 185 lbs.
c) Ho: µ > 185 lbs.
d) Ho: µ = 185 lbs.
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20. Segmenting, in contrast to combining,
a) Usually means settling for a smaller sales potential.
b) Tends to focus more on customer similarities than on differences.
c) Relies more on promotion appeals and minor product differences to create general customer appeal among several submarkets.
d) Tries to identify homogeneous submarkets and develop different marketing mixes for each submarket.
21. Which of the following statements about ethical behavior in business is true?
a) The legal environment sets the minimum standards of ethical behavior.
b) The legal environment sets the highest standards of ethical behavior.
c) The legal environment sets the maximum standards of ethical behavior.
d) The legal environment sets the normative standards of ethical behavior.
22. What is the present value of $12,500 to be received 10 years from today? Assume a discount rate of 8% compounded annually and round to the nearest $10.
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