Contemporary Business
20th Edition
ST
UV
TEST BANK
IA
_A
Louis E. Boone
PP
David L. Kurtz
RO
Comprehensive Test Bank for Instructors
VE
and Students
D?
© Louis E. Boone & David L. Kurtz. All rights reserved. Reproduction or distribution
without permission is prohibited.
©MedConnoisseur
, TABLE OF CONTENTS
Test Bank – Contemporary Business, 20th Edition
Louis E. Boone, David L. Kurtz
ST
Chapter 1. The Changing Face of Business,
Chapter 2. Economic Challenges Facing Business Today,
Chapter 3. International Business and Competing in World Markets,
UV
Chapter 4. Business Ethics and Social Responsibility,
Chapter 5. Small Business and the Legal Forms of Business Ownership,
Chapter 6. Entrepreneurship and Starting a Business,
Chapter 7. Management, Leadership, and the Internal Organization,
IA
Chapter 8. Human Resource Management: From Recruitment to Labor
Relations,
Chapter 9. Top Performance through Empowerment, Teamwork, and
_A
Communication,
Chapter 10. Production and Operations Management,
Chapter 11. Using Technology to Manage Information,
Chapter 12. Customer-Driven Marketing,
PP
Chapter 13. Product and Distribution Strategies,
Chapter 14. Promotion and Pricing Strategies,
Chapter 15. Trends in E-Commerce,
RO
Chapter 16. Understanding Accounting and Financial Statements,
Chapter 17. The Financial System and Investing,
Chapter 18. Financial Management
VE
D?
©MedConnoisseur
, Test Bank to accompany Boone, Contemporary Business, 20th Edition
Package Title: Chapter 1, Testbank
Course Title: Boone, Contemporary Business, 20th Edition
Chapter Number: 1
Question type: Multiple Choice
ST
1) _____ are businesslike establishments that have primary objectives other than returning profits
to their owners.
a) Entrepreneurs
UV
b) Strategic alliances
c) Brands
d) Not-for-profit organizations
Answer: d) Not-for-profit organizations
IA
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
Section Reference: 1.1 What is Business?
AACSB: Analytic
_A
Bloom code: Knowledge
2) Accountants think of profits as:
a) the overall sales of a company in comparison with its top competitor.
PP
b) the difference between a firm’s revenues and the expenses incurred in generating them.
c) the value of the products or services sold during a financial year.
d) the difference between the capital and revenue obtained through selling stocks.
Answer: b) the difference between a firm’s revenues and the expenses incurred in generating
RO
them.
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
Section Reference: 1.1 What is Business?
VE
AACSB: Analytic
Bloom code: Knowledge
3) For successful companies, which of the following statements is true?
D?
a) They often adapt to changes in customer tastes.
b) They spend less time on technology-related projects.
c) They refrain from all kinds of competition.
d) They strive to reduce the standards of living of their respective countries.
Answer: a) They often adapt to changes in customer tastes.
Copyright © 2025 John Wiley & Sons, Inc.
, Test Bank to accompany Boone, Contemporary Business, 20th Edition
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
Section Reference: 1.1 What is Business?
AACSB: Analytic
Bloom code: Comprehension
ST
4) All of these statements are true regarding businesses EXCEPT:
a) Some businesses are not motivated by profit growth.
UV
b) Businesses provide goods and services necessary to an economic system.
c) Businesses are the economic pulse of a nation.
d) Businesses are nonprofit organizations that provide services to the public.
Answer: d) Businesses are nonprofit organizations that provide services to the public.
IA
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
Section Reference: 1.1 What is Business?
AACSB: Analytic
_A
Bloom code: Comprehension
5) Jason is an accountant. When he is looking at clients’ books, for him, profits are _____.
a) the difference between revenues and expenses
PP
b) the sum of commissions earned and receipts
c) the difference between sales and expenses
d) the sum of sales and expenses
Answer: a) the difference between revenues and expenses
RO
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
Section Reference: 1.1 What is Business?
AACSB: Analytic
VE
Bloom code: Comprehension
6) In the U.S. economy, _____ are considered the reward for the risk of entering a business.
a) revenues
D?
b) concessions
c) profits
d) sales
Answer: c) profits
Copyright © 2025 John Wiley & Sons, Inc.
20th Edition
ST
UV
TEST BANK
IA
_A
Louis E. Boone
PP
David L. Kurtz
RO
Comprehensive Test Bank for Instructors
VE
and Students
D?
© Louis E. Boone & David L. Kurtz. All rights reserved. Reproduction or distribution
without permission is prohibited.
©MedConnoisseur
, TABLE OF CONTENTS
Test Bank – Contemporary Business, 20th Edition
Louis E. Boone, David L. Kurtz
ST
Chapter 1. The Changing Face of Business,
Chapter 2. Economic Challenges Facing Business Today,
Chapter 3. International Business and Competing in World Markets,
UV
Chapter 4. Business Ethics and Social Responsibility,
Chapter 5. Small Business and the Legal Forms of Business Ownership,
Chapter 6. Entrepreneurship and Starting a Business,
Chapter 7. Management, Leadership, and the Internal Organization,
IA
Chapter 8. Human Resource Management: From Recruitment to Labor
Relations,
Chapter 9. Top Performance through Empowerment, Teamwork, and
_A
Communication,
Chapter 10. Production and Operations Management,
Chapter 11. Using Technology to Manage Information,
Chapter 12. Customer-Driven Marketing,
PP
Chapter 13. Product and Distribution Strategies,
Chapter 14. Promotion and Pricing Strategies,
Chapter 15. Trends in E-Commerce,
RO
Chapter 16. Understanding Accounting and Financial Statements,
Chapter 17. The Financial System and Investing,
Chapter 18. Financial Management
VE
D?
©MedConnoisseur
, Test Bank to accompany Boone, Contemporary Business, 20th Edition
Package Title: Chapter 1, Testbank
Course Title: Boone, Contemporary Business, 20th Edition
Chapter Number: 1
Question type: Multiple Choice
ST
1) _____ are businesslike establishments that have primary objectives other than returning profits
to their owners.
a) Entrepreneurs
UV
b) Strategic alliances
c) Brands
d) Not-for-profit organizations
Answer: d) Not-for-profit organizations
IA
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
Section Reference: 1.1 What is Business?
AACSB: Analytic
_A
Bloom code: Knowledge
2) Accountants think of profits as:
a) the overall sales of a company in comparison with its top competitor.
PP
b) the difference between a firm’s revenues and the expenses incurred in generating them.
c) the value of the products or services sold during a financial year.
d) the difference between the capital and revenue obtained through selling stocks.
Answer: b) the difference between a firm’s revenues and the expenses incurred in generating
RO
them.
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
Section Reference: 1.1 What is Business?
VE
AACSB: Analytic
Bloom code: Knowledge
3) For successful companies, which of the following statements is true?
D?
a) They often adapt to changes in customer tastes.
b) They spend less time on technology-related projects.
c) They refrain from all kinds of competition.
d) They strive to reduce the standards of living of their respective countries.
Answer: a) They often adapt to changes in customer tastes.
Copyright © 2025 John Wiley & Sons, Inc.
, Test Bank to accompany Boone, Contemporary Business, 20th Edition
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
Section Reference: 1.1 What is Business?
AACSB: Analytic
Bloom code: Comprehension
ST
4) All of these statements are true regarding businesses EXCEPT:
a) Some businesses are not motivated by profit growth.
UV
b) Businesses provide goods and services necessary to an economic system.
c) Businesses are the economic pulse of a nation.
d) Businesses are nonprofit organizations that provide services to the public.
Answer: d) Businesses are nonprofit organizations that provide services to the public.
IA
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
Section Reference: 1.1 What is Business?
AACSB: Analytic
_A
Bloom code: Comprehension
5) Jason is an accountant. When he is looking at clients’ books, for him, profits are _____.
a) the difference between revenues and expenses
PP
b) the sum of commissions earned and receipts
c) the difference between sales and expenses
d) the sum of sales and expenses
Answer: a) the difference between revenues and expenses
RO
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
Section Reference: 1.1 What is Business?
AACSB: Analytic
VE
Bloom code: Comprehension
6) In the U.S. economy, _____ are considered the reward for the risk of entering a business.
a) revenues
D?
b) concessions
c) profits
d) sales
Answer: c) profits
Copyright © 2025 John Wiley & Sons, Inc.
