Busi 100 UNC Quiz Answers Keys

Busi 100 UNC Thoreau notes that most of his townsmen have learned to read not only to keep accounts and not be cheated in trade but also as a noble intellectual exercise Brad has no personal connection to which (singstreet, sandlot, yo gabba gabba) Plato felt that the fundamental key in the development of an economy was (T/F) Adam smith believed that the individuals act in their own self-interest because they know that this will lead to the greatest good for society as a whole (T/F) during lecture, professor Hendricks noted some similarities between the logic profession from an inquiry into the nature and causes of the wealth of nations by Adam smith and the popular children's book "if you give a mouse a cookie" During lecture we watched a brief video that Friedman narrated to illustrate basic free market principles. In the video he indicated these pre in piles are quite simple and easily understood when thinking about the production of____ (t/f)The key point in the Friedman doctrine is that in her capacity as a corporate exec, the manager is the agent of the individuals who own the corporation, and her primary responsibility is to conduct the business in accordance with their desires Who would agree with this quote "I believe that with great wealth comes great responsibility, a responsibility to give back to society and a responsibility to see that resources are put to work in the best possible way to help the most in need Without____, pavilions indicates that it is impossible for merchants "to conduct their business for they would have no rest and their minds would always be troubled" (t/F) Defoe indicates that if it is too tedious to keep books exact, partial book keeping still provides many benefits to the merchant What songs does Hendricks listen to the most To find cash Assets One plausible explanation for Du Bois observation that the value of farms in Dougherty County, GA decreasing from 3 million in 1860 to 2 million in 1870 is that emancipation of the slaves led the present value of cash flows for those farms to (T/F)Ayn rand, in atlas shrugged, believed that the problem with society is the love of money, not money itself Net present value What name did professor Hendricks not get wrong (T/F)During lecture, professor Hendricks highlighted a recent report from the UN that indicated there are fifty million people stuck in modern slavery, significant increase Equity stake worth on date Which if the following metrics was not a key performance indicator for any round of the market games simulation Find valuation using revenue multiple Jimmy V noted we should do several things everyday, even including this advice in his headstone, which of the following things was not on his list Porters five forces determine the competitive structure of an industry, and its profitability. Which of the following was not one of the five forces highlighted by Porter? Porter's Five Forces Jack Welch former CEO of General Electric, indicates that an organizations ability to learn, and translate that learning into action rapidly is the ultimate competitive advantage. Which passage from the "art of war" most directly relates to this idea (T/F)Thomas Aquino's warns against hiring experts, noting that no one ever considers themselves expert if they really know their job. Rather a worker who knows their job sees so much more to be done than they have done, that they are always pressing forward (T/F) Karl Marx noted that "work, at its best, is what makes us human. It fulfills our species essence" considering this, Karl Marx would likely argue against Frederick Taylor's principles of scientific management What item is not already wrapped under Hendricks tree Regarding chassis assembly, Henry ford noted to have "adopted the policy of 'human-high' work: we had one line twenty six and three quarter inches and another twenty four and one half inches from the floor." Which principle of scientific management is this? The 4 Ps of marketing is often described as consisting of the key considerations to successfully market a product or service. During our discussion of the 4Ps in class we highlighted a marketing campaign for squattypotty that featured which animal? (T/F)Cicero edited of a debate between antipater and Diogenes about whether it is immoral for sellers to conceal facts from buyers. At the end of this debate Antipater and Diogenes agree that concealing such info is immoral The 4 ps of marketing What would have been brads girl name In discussing the industrial problem, Rockefeller includes all of the following statements about a potential solution except (T/F)DuPont, the firm showcased in dark waters is a good example of a firm operating under these principles of stakeholder capitalism What is the name of googled motto (T/F) Garrett Hardin demonstrated that the Tragedy of the Commons cannot be overcome., but that these solutions require extensions in morality rather than changes in the techniques of the natural sciences Where is brad most excited to visit (T/F) during lecture professor Hendricks highlighted an article from the journal of finance that indicated none of the highest rated funds in terms of ESG delivered better financial returns or ESG performance relative to the lowest rated ESG funds The triple bottom line in an accounting framework that incorporates which if the following three dimensions of performance (T/F) Gandhi is likely to agree with the only quote on our syllabus, by Ralph Waldo Emerson nothing that " the subject of economy mixes itself with morals" Brad lowest college exam score (T/F)Adam Smith argues that it is prudent to prohibit importation of a foreign commodity to encourage a more expensive domestic production of the commodity. Who said, "By directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this led by an invisible hand to promote an end which was no part of his intention." A. Du Bois B. Friedman C. Carnegie D. Plato E. not listed (T/F)Carnegie believes that if society were to revert to the "good old times", the conditions for life would become better situated for the servant, but worse for the master. Andrew Carnegie believes that the people with extraordinary wealth have a duty to: What does Thoreau argue we have become as a society? According to Thoreau, which of the following is the choicest of relics? According to Du Bois, which of the following statements about debt in the Black Belt is false? A. Debt can be linked to the inefficient economies of the "slave regime" B. Debt came to a greater crisis due to the emancipation of slaves C.Debt was mostly in the form of commercial credit D. Debt refers to the populations struggle covering expenses with income Milton Friedman believed the managers of a publicly-owned corporation should invest the corporation's resources in which of the following ways? A. To provide the maximum advantage to themselves B. Primarily for the benefit of the corporation's stockholders C. Only for the benefit of the corporation's stockholders D. In a balanced manner keeping in mind the needs of the employees and the community as well as the stockholders Because acceptance of "the doctrine of social responsibility" permits political mechanisms, not market mechanisms, to determine the allocation of scarce resources, Friedman argues that acceptance of this doctrine necessarily involves acceptance of ______________. Which course reading includes the following two phrases as part of their useful admonition and good advice? 1) the merchant is like a rooster, which of all the animals is the most alert and in winter and and summer keeps his night vigils and never rests. 2) The head of the merchant has a hundred eyes, and still they are not sufficient for all he has to say or to do. (T/F) Ayn Rand thought that society was doomed when you see that money is flowing to those who deal, not in goods, but in favor. According to Rand, what is wealth the product of? In considering the number of individuals to include in each team for this course, Professor Hendricks brought attention to a rule popularized by Amazon that refers to which item of food? When coaching at Rutgers, 21-year old Jim Valvano told his student-athletes before their first game that they would be successful if they "focus on three things, and three things only." Which of the following is on his list? During class, we watched some video clips of Martin Shkreli, founder and ex-CEO of Turing Pharmaceuticals. Shkreli's responses about why he raised the price of the antiparasitic drug Daraprim most closely resemble the arguments laid out by which author of one of our course readings? Which course reading best supports Mahatma Gandhi's quote that "Earth provides enough to satisfy every man's needs, but not every man's greed." (T/F)In The Republic, Plato surmises that the number of physicians needed for a society will decrease as it moves from its original state to a more luxurious one. During lecture, we highlighted that an ironic component of Defoe's death was that he: (T/F)Daniel Defoe is believes that there is a connection between the exactness of a tradeperson's bookkeeping and the tradeperson's prosperity. Pacioli described the process of making an inventory, which includes "whatever one has in this world". In which part of a firm's financial statements is such an inventory most likely to appear? Plato felt that the fundamental key in the development of an economy was: (T/F)Carnegie believed that a person who earns great wealth should help society by leaving that wealth to the community at the time he or she died. Daniel Defoe tells a story about a tradesman who could neither read nor write. What lesson does Defoe intend to communicate by telling this story? Under which of the following circumstances would Milton Friedman be most likely to tolerate the manager of a publicly-owned corporation making a charitable contribution using the corporation's money? A. Friedman would be agreeable to all of the listed charitable contributions B. The contribution would help to reduce the death rate from AIDS in Africa C. The contribution fights racial injustice in communities where some of the corporation's customers reside D. The intent of the contribution is to improve the corporation's image so that more people desire to purchase the company's products and services (T/F) Friedman believed that it is appropriate for a publicly held corporation to reduce the wages of its employees in order for it to invest in an activity of general social interest. The key argument in Friedman's essay is that the manager is the ___________ of the individuals who own the corporation and her primary responsibility is to them De Ramel Group is considering a new project. The initial cash outflows are $10,000. The Company believes the project will yield cash inflows of $2,010 in year 1, $1,340 in year 2, $2,680 in year 3, and $7,370 in year 4. Assuming an annual discount rate of 9%, calculate the project's net present value. Herrera LP started a new business on July 1, 2021. That same day, Herrera LP also received $420,000 of cash from issuing common stock and borrowed $290,000 from a friend. On July 1, 2021 Herrera LP also purchased equipment for $230,400. The equipment has a useful life of 96 months. On July 1, 2021, Herrera also paid $163,200 of cash to rent office space for a 48 month period. During 2021, the Company provided services valued at $85,200 and had collected $51,120 of that amount at year-end. The company will collect the remaining portion in the following year.The company's payroll for 2021 was $67,500, which was paid in full during 2021. Use this information to find the company's cash flows from operations in 2021? Desai Corporation started a new business on September 1, 2021. That same day, Desai Corporation also received $60,000 of cash from issuing common stock and borrowed $80,000 from a friend. On September 1, 2021 Desai Corporation also purchased equipment for $72,000. The equipment has a useful life of 36 months. On September 1, 2021, Desai also paid $18,000 of cash to rent office space for a 12 month period. During 2021, the Company provided services valued at $33,600 and had collected $6,720 of that amount at year-end. The company will collect the remaining portion in the following year.The company's payroll for 2021 was $25,300, which was paid in full during 2021. Use this information to find the company's net income in 2021? Alvarez Co. started a new business on November 1, 2021. That same day, Alvarez Co. also received $250,000 of cash from issuing common stock and borrowed $180,000 from a friend. On November 1, 2021 Alvarez Co. also purchased equipment for $172,800. The equipment has a useful life of 108 months. On November 1, 2021, Alvarez also paid $96,000 of cash to rent office space for a 24 month period. During 2021, the Company provided services valued at $51,600 and had collected $20,640 of that amount at year-end. The company will collect the remaining portion in the following year.The company's payroll for 2021 was $25,200, which was paid in full during 2021. Use this information to find the company's balance of total assets as of 12/31/2021? On July 1, 2014, Kah Okeo invests $90,000 of their own money in a new venture. To further help finance the venture, Kah Okeo raises $60,000 of additional equity-capital from external investors. Four years after starting the venture, the venture is valued at $100,000. How much is Kah Okeo's equity stake worth on this date? On July 1, 2014, Kah Okeo invests $90,000 of their own money in a new venture. To further help finance the venture, Kah Okeo borrows $60,000 from a bank. The loan term is ten years, at which point the venture must repay the loan in full. Four years after starting the venture, the venture is valued at $100,000. What is Kah Okeo's equity stake worth on this date? Stupefy Partners started a new business on July 1, 2021. That same day, Stupefy Partners also received $60,000 of cash from issuing common stock and borrowed $100,000 from a friend. On July 1, 2021 Stupefy Partners also purchased equipment for $79,200. The equipment has a useful life of 36 months. On July 1, 2021, Stupefy also paid $36,000 of cash to rent office space for a 24 month period. During 2021, the Company provided services valued at $9,600 and had collected $3,840 of that amount at year-end. The company will collect the remaining portion in the following year.The company's payroll for 2021 was $7,400, which was paid in full during 2021. Assuming that the Company has twice as much revenues and payroll expense in 2022 than it had in 2021, and that they do not purchase any new property or rent any additional office space that year, use this information to find the company's net income in 2022 (not 2021)? Correct! Reading books are the best form of art is from... (T/F) Thoreau believes Nobody has truly read the best poems but the poets themselves To form a functioning society there is a list of trade-offs is from.... Good trade benefits both people in different ways Ex. A tailor won't try and make his own shoes he will buy from a shoe-maker Keeping employment close is the best way for countries to developing....... Business does not have any social responsibility to the society around it Extremely wealthy men have responsibility to spend their money in order to benefit the greater good..... People should write down transactions in a systematic manner, Be meticulous and obsess over your business but don't forget your God and neighbors Keep track of accounts of stock, profit, and loss at least once a year Only way to know whether you are going forwards or backwards Exact book keeping is essential for prosperity Don't think it's ok for something to be wrong in bookkeeping People who don't even know anything about numbers have been bookkeeping using various methods Whether over or under, find the mistake Black people produce so much money, yet have none The south made most of their money off slavery and when it was abolished it left many very poor Money is not evil, but in in-fact good, Money only has power due to voluntary choice of the man who is willing to trade you his effort in return Money keeps people civilized and if it did not exist people would kill and do unethical things for power Put more skill into planning, management, and tool building than training men who are not skilled, There is always progress to be made, nothing is impossible in improvement Dividing and subdividing operations, keeping the work in motion-key to the production Discussing the morality of buying something then selling it at a higher price Continuous operation of plants and less interruption of workers results in larger returns Improving working and living conditions Close contact between employees and officers increases peoples desire to work Goodwill of employees Business men might be concerned about unemployment but more for making work productive in order to better serve society's economic needs but not making it meaningful in a way for worker fulfillment. Idea of combining social responsibility within economic limit fails due to it being hard to separate economical values from secondary ones and general public disinterest in business confined only to economics Need to develop flexible responses to the needs of society, if not it will use up its capital in human and spiritually values Population problem a member of no technical solution, tragedy of the commons specialization leads to needing more things. This progression happens where before long, we are at war Frederick Taylor's Principles of Scientific Management: Antiapter believes that it is okay to conceal facts to the buyer if there are defects or anything of such sort. Whereas Diogenes believes that it is immoral to disclose such facts and that one must inform of defects in a product. Operations cash flow Pacioli indicates that the purpose of every merchant is to____ Pacioli indicates that "as we know" there are 3 things needed by any one who wishes to carry on business carefully Which of the following ideas did Defoe believe useful to consider when conducting business: A. Everything done in the conduct of the business should be set down in a book B. Every transaction should be recorded everytime C. Tradesman should be more satisfied to see more cash in his balance than there should have been (T/F)Pacioli would agree that every merchants main purpose is to arrange all business transactions in such a systematic way that one may understand each one of them at a glance (T/F)Mark Twain has the famous quote of: "a classic" is a book that people praise and don't read. Would Thoreau agree with this this