Contemporary Business
ST
20th Edition
UV
TEST BANK
IA
?_
AP
Louis E. Boone
PR
David L. Kurtz
OV
Comprehensive Test Bank for Instructors and Students
ED
© Louis E. Boone & David L. Kurtz. All rights reserved. Reproduction or distribution
without permission is prohibited.
??
©DREAMSHUB
, Contemporary Business – 20th Edition
(ISBN 9781394274413 – Verified)
Louis E. Boone, David L. Kurtz, Daniel Pfaltzgraf
ST
TABLE OF CONTENTS
Chapter 1. The Changing Face of Business
UV
Chapter 2. Economic Challenges Facing Business Today
Chapter 3. International Business and Competing in World Markets
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
IA
Chapter 7. Management, Leadership, and the Internal Organization
Chapter 8. Human Resource Management: From Recruitment to Labor
Relations
?_
Chapter 9. Top Performance through Empowerment, Teamwork, and
Communication
Chapter 10. Production and Operations Management
Chapter 11. Using Technology to Manage Information
AP
Chapter 12. Customer-Driven Marketing
Chapter 13. Product and Distribution Strategies
Chapter 14. Promotion and Pricing Strategies
Chapter 15. Trends in E-Commerce
PR
Chapter 16. Understanding Accounting and Financial Statements
Chapter 17. The Financial System and Investing
Chapter 18. Financial Management
OV
ED
??
©DREAMSHUB
, Test Bank to accompany Boone, Contemporary Business, 20th Edition
Package Title: Chapter 1, Testbank
Course Title: Boone, Contemporary Business, 20th Edition
Chapter Number: 1
ST
Question type: Multiple Choice
1) _____ are businesslike establishments that have primary objectives other than returning profits
to their owners.
UV
a) Entrepreneurs
b) Strategic alliances
c) Brands
d) Not-for-profit organizations
IA
Answer: d) Not-for-profit organizations
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
?_
Section Reference: 1.1 What is Business?
AACSB: Analytic
Bloom code: Knowledge
AP
2) Accountants think of profits as:
a) the overall sales of a company in comparison with its top competitor.
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.
PR
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
them.
OV
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
Section Reference: 1.1 What is Business?
AACSB: Analytic
Bloom code: Knowledge
ED
3) For successful companies, which of the following statements is true?
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.
ST
Section Reference: 1.1 What is Business?
AACSB: Analytic
Bloom code: Comprehension
4) All of these statements are true regarding businesses EXCEPT:
UV
a) Some businesses are not motivated by profit growth.
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.
IA
Answer: d) Businesses are nonprofit organizations that provide services to the public.
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
?_
Section Reference: 1.1 What is Business?
AACSB: Analytic
Bloom code: Comprehension
AP
5) Jason is an accountant. When he is looking at clients’ books, for him, profits are _____.
a) the difference between revenues and expenses
b) the sum of commissions earned and receipts
c) the difference between sales and expenses
PR
d) the sum of sales and expenses
Answer: a) the difference between revenues and expenses
Difficulty: Easy
OV
Learning Objective: LO 1.1 Define business.
Section Reference: 1.1 What is Business?
AACSB: Analytic
Bloom code: Comprehension
6) In the U.S. economy, _____ are considered the reward for the risk of entering a business.
ED
a) revenues
b) concessions
c) profits
d) sales
??
Answer: c) profits
Copyright © 2025 John Wiley & Sons, Inc.
ST
20th Edition
UV
TEST BANK
IA
?_
AP
Louis E. Boone
PR
David L. Kurtz
OV
Comprehensive Test Bank for Instructors and Students
ED
© Louis E. Boone & David L. Kurtz. All rights reserved. Reproduction or distribution
without permission is prohibited.
??
©DREAMSHUB
, Contemporary Business – 20th Edition
(ISBN 9781394274413 – Verified)
Louis E. Boone, David L. Kurtz, Daniel Pfaltzgraf
ST
TABLE OF CONTENTS
Chapter 1. The Changing Face of Business
UV
Chapter 2. Economic Challenges Facing Business Today
Chapter 3. International Business and Competing in World Markets
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
IA
Chapter 7. Management, Leadership, and the Internal Organization
Chapter 8. Human Resource Management: From Recruitment to Labor
Relations
?_
Chapter 9. Top Performance through Empowerment, Teamwork, and
Communication
Chapter 10. Production and Operations Management
Chapter 11. Using Technology to Manage Information
AP
Chapter 12. Customer-Driven Marketing
Chapter 13. Product and Distribution Strategies
Chapter 14. Promotion and Pricing Strategies
Chapter 15. Trends in E-Commerce
PR
Chapter 16. Understanding Accounting and Financial Statements
Chapter 17. The Financial System and Investing
Chapter 18. Financial Management
OV
ED
??
©DREAMSHUB
, Test Bank to accompany Boone, Contemporary Business, 20th Edition
Package Title: Chapter 1, Testbank
Course Title: Boone, Contemporary Business, 20th Edition
Chapter Number: 1
ST
Question type: Multiple Choice
1) _____ are businesslike establishments that have primary objectives other than returning profits
to their owners.
UV
a) Entrepreneurs
b) Strategic alliances
c) Brands
d) Not-for-profit organizations
IA
Answer: d) Not-for-profit organizations
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
?_
Section Reference: 1.1 What is Business?
AACSB: Analytic
Bloom code: Knowledge
AP
2) Accountants think of profits as:
a) the overall sales of a company in comparison with its top competitor.
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.
PR
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
them.
OV
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
Section Reference: 1.1 What is Business?
AACSB: Analytic
Bloom code: Knowledge
ED
3) For successful companies, which of the following statements is true?
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.
ST
Section Reference: 1.1 What is Business?
AACSB: Analytic
Bloom code: Comprehension
4) All of these statements are true regarding businesses EXCEPT:
UV
a) Some businesses are not motivated by profit growth.
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.
IA
Answer: d) Businesses are nonprofit organizations that provide services to the public.
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
?_
Section Reference: 1.1 What is Business?
AACSB: Analytic
Bloom code: Comprehension
AP
5) Jason is an accountant. When he is looking at clients’ books, for him, profits are _____.
a) the difference between revenues and expenses
b) the sum of commissions earned and receipts
c) the difference between sales and expenses
PR
d) the sum of sales and expenses
Answer: a) the difference between revenues and expenses
Difficulty: Easy
OV
Learning Objective: LO 1.1 Define business.
Section Reference: 1.1 What is Business?
AACSB: Analytic
Bloom code: Comprehension
6) In the U.S. economy, _____ are considered the reward for the risk of entering a business.
ED
a) revenues
b) concessions
c) profits
d) sales
??
Answer: c) profits
Copyright © 2025 John Wiley & Sons, Inc.
