Contemporary Business
20th Edition
ST
UV
TEST BANK
IA
_A
Louis E. Boone
David L. Kurtz
PP
Daniel Pfaltzgraf
────────────────────────────────────────────────────
RO
Comprehensive Test Bank for Instructors
and Students
VE
© Louis E. Boone, David L. Kurtz & Daniel Pfaltzgraf. All rights reserved. Reproduction or
D?
distribution without permission is prohibited.
?
© Successbytes 2026
, Test Bank for Contemporary Business (20th Edition)
Louis E. Boone, David L. Kurtz & Daniel Pfaltzgraf
UNIT 1: THE BUSINESS ENVIRONMENT
ST
1. The Changing Face of Business
2. Economic Challenges Facing Business Today
3. International Business and Competing in World Markets
UV
4. Business Ethics and Social Responsibility
UNIT 2: OWNERSHIP AND ENTREPRENEURSHIP
5. Small Business and the Legal Forms of Business Ownership
6. Entrepreneurship and Starting a Business
IA
UNIT 3: MANAGEMENT AND ORGANIZATIONAL OPERATIONS
7. Management, Leadership, and the Internal Organization
_A
8. Human Resource Management: From Recruitment to Labor Relations
9. Top Performance through Empowerment, Teamwork, and Communication
UNIT 4: OPERATIONS, TECHNOLOGY, AND INFORMATION
PP
10. Production and Operations Management
11. Using Technology to Manage Information
UNIT 5: MARKETING AND E-COMMERCE
RO
12. Customer-Driven Marketing
13. Product and Distribution Strategies
14. Promotion and Pricing Strategies
15. Trends in E-Commerce
VE
UNIT 6: ACCOUNTING AND FINANCE
16. Understanding Accounting and Financial Statements
17. The Financial System and Investing
D?
18. Financial Management
?
© Successbytes 2026
, 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
Answer: d) Not-for-profit organizations
IA
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
Section Reference: 1.1 What is Business?
_A
AACSB: Analytic
Bloom code: Knowledge
2) Accountants think of profits as:
PP
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.
d) the difference between the capital and revenue obtained through selling stocks.
RO
Answer: b) the difference between a firm’s revenues and the expenses incurred in generating
them.
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
VE
Section Reference: 1.1 What is Business?
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?
ST
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.
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?
_A
AACSB: Analytic
Bloom code: Comprehension
5) Jason is an accountant. When he is looking at clients’ books, for him, profits are _____.
PP
a) the difference between revenues and expenses
b) the sum of commissions earned and receipts
c) the difference between sales and expenses
d) the sum of sales and expenses
RO
Answer: a) the difference between revenues and expenses
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
Section Reference: 1.1 What is Business?
VE
AACSB: Analytic
Bloom code: Comprehension
6) In the U.S. economy, _____ are considered the reward for the risk of entering a business.
D?
a) revenues
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
David L. Kurtz
PP
Daniel Pfaltzgraf
────────────────────────────────────────────────────
RO
Comprehensive Test Bank for Instructors
and Students
VE
© Louis E. Boone, David L. Kurtz & Daniel Pfaltzgraf. All rights reserved. Reproduction or
D?
distribution without permission is prohibited.
?
© Successbytes 2026
, Test Bank for Contemporary Business (20th Edition)
Louis E. Boone, David L. Kurtz & Daniel Pfaltzgraf
UNIT 1: THE BUSINESS ENVIRONMENT
ST
1. The Changing Face of Business
2. Economic Challenges Facing Business Today
3. International Business and Competing in World Markets
UV
4. Business Ethics and Social Responsibility
UNIT 2: OWNERSHIP AND ENTREPRENEURSHIP
5. Small Business and the Legal Forms of Business Ownership
6. Entrepreneurship and Starting a Business
IA
UNIT 3: MANAGEMENT AND ORGANIZATIONAL OPERATIONS
7. Management, Leadership, and the Internal Organization
_A
8. Human Resource Management: From Recruitment to Labor Relations
9. Top Performance through Empowerment, Teamwork, and Communication
UNIT 4: OPERATIONS, TECHNOLOGY, AND INFORMATION
PP
10. Production and Operations Management
11. Using Technology to Manage Information
UNIT 5: MARKETING AND E-COMMERCE
RO
12. Customer-Driven Marketing
13. Product and Distribution Strategies
14. Promotion and Pricing Strategies
15. Trends in E-Commerce
VE
UNIT 6: ACCOUNTING AND FINANCE
16. Understanding Accounting and Financial Statements
17. The Financial System and Investing
D?
18. Financial Management
?
© Successbytes 2026
, 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
Answer: d) Not-for-profit organizations
IA
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
Section Reference: 1.1 What is Business?
_A
AACSB: Analytic
Bloom code: Knowledge
2) Accountants think of profits as:
PP
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.
d) the difference between the capital and revenue obtained through selling stocks.
RO
Answer: b) the difference between a firm’s revenues and the expenses incurred in generating
them.
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
VE
Section Reference: 1.1 What is Business?
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?
ST
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.
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?
_A
AACSB: Analytic
Bloom code: Comprehension
5) Jason is an accountant. When he is looking at clients’ books, for him, profits are _____.
PP
a) the difference between revenues and expenses
b) the sum of commissions earned and receipts
c) the difference between sales and expenses
d) the sum of sales and expenses
RO
Answer: a) the difference between revenues and expenses
Difficulty: Easy
Learning Objective: LO 1.1 Define business.
Section Reference: 1.1 What is Business?
VE
AACSB: Analytic
Bloom code: Comprehension
6) In the U.S. economy, _____ are considered the reward for the risk of entering a business.
D?
a) revenues
b) concessions
c) profits
d) sales
?
Answer: c) profits
Copyright © 2025 John Wiley & Sons, Inc.
