UNC BUSI 100 Test Questions with
Correct Solutions 2025/2026 Updated.
Who said: "So long as men live together on earth and need means to deal with one another-
their only substitute, if they abandon money, is the muzzle of a gun" - Answer Ayn Rand
Who said: "To form a functioning society there is a list of trade-offs" - Answer Plato
According to Thoreau, which of the following is the choicest of relics? - Answer Books
Who says: "The manager is the ___________ of the individuals who own the corporation and
the primary responsibility is to them" and fill in the blank - Answer Friedman, Agent
Plato felt that the fundamental key in the development of an economy was - Answer
Specialization: more things are produced and better and more easily when one man performs
one task
The insider ownership % for most large firms in the US is.. - Answer 0-10%
According to Ayn Rand, what is wealth the product of? - Answer Man's capacity to think
Michael Porter's Five Forces Model - Answer Identifies the fundamental factors that
determine the level of competition and long-term profitability of an industry by analyzing an
organization, its position in the marketplace, and how information systems could be used to
make it more competitive
Assets - Answer Liabilities + Stockholders Equity (Cash+amount left on rent+amount left of
equipment+ (revenue-collected))
Intangible Assets - Answer Long-term assets (e.g., patents, trademarks, copyrights) that have
no real physical form but do have value
The process of systematically collecting, analyzing, and reporting financial information is called -
Answer Accounting
Present Value (PV) - Answer Future value divided by (1 + required rate of return) raised to
the power of the number of periods.
, Accounts Payable - Answer Debt owed to suppliers for goods or services purchased on credit
Without ___________, _____ indicates that it is impossible for merchants "to conduct their
business, for they would have no rest and their minds would always be troubled." - Answer
Systematically arranging all transactions, Pacioli
What does Pacioli indicate as being the most important factor in carrying on business? - Answer
Cash
Who believes that there is a connection between the exactness of a trade person's bookkeeping
and the tradesperson's prosperity. - Answer Daniel Defoe
Who suggested that money is symbolic of a society's moral values? - Answer Ayn Rand
Who said: "A tailor won't try and make his own shoes he will buy from a shoemaker" - Answer
Adam Smith, good trade benefits both people in different way
What did Defoe believe useful to consider when conducting business? - Answer Everything
done in the conduct of the business should be set down in a book and every transaction should
be recorded in the books at the very time it occurs
Andrew Carnegie believes that the people with extraordinary wealth have a duty to: - Answer
Administer their wealth while alive "to produce the most beneficial results for the community"
Who said: "Let us define the investment value of a stock as the present worth of all the
dividends to be paid upon it. In short, a stock is worth only what you can get out of it" - Answer
John Burr Williams
Who argues that true wisdom comes from learning and experiences and observations? - Answer
Bacon
Who believes money is symbolic of a society's moral values? - Answer Ayn Rand
Who believes 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. - Answer Thoreau
Who argues that modern society is too focused on material possessions and that we should
prioritize our spiritual and intellectual well-being instead? - Answer Thoreau
Correct Solutions 2025/2026 Updated.
Who said: "So long as men live together on earth and need means to deal with one another-
their only substitute, if they abandon money, is the muzzle of a gun" - Answer Ayn Rand
Who said: "To form a functioning society there is a list of trade-offs" - Answer Plato
According to Thoreau, which of the following is the choicest of relics? - Answer Books
Who says: "The manager is the ___________ of the individuals who own the corporation and
the primary responsibility is to them" and fill in the blank - Answer Friedman, Agent
Plato felt that the fundamental key in the development of an economy was - Answer
Specialization: more things are produced and better and more easily when one man performs
one task
The insider ownership % for most large firms in the US is.. - Answer 0-10%
According to Ayn Rand, what is wealth the product of? - Answer Man's capacity to think
Michael Porter's Five Forces Model - Answer Identifies the fundamental factors that
determine the level of competition and long-term profitability of an industry by analyzing an
organization, its position in the marketplace, and how information systems could be used to
make it more competitive
Assets - Answer Liabilities + Stockholders Equity (Cash+amount left on rent+amount left of
equipment+ (revenue-collected))
Intangible Assets - Answer Long-term assets (e.g., patents, trademarks, copyrights) that have
no real physical form but do have value
The process of systematically collecting, analyzing, and reporting financial information is called -
Answer Accounting
Present Value (PV) - Answer Future value divided by (1 + required rate of return) raised to
the power of the number of periods.
, Accounts Payable - Answer Debt owed to suppliers for goods or services purchased on credit
Without ___________, _____ indicates that it is impossible for merchants "to conduct their
business, for they would have no rest and their minds would always be troubled." - Answer
Systematically arranging all transactions, Pacioli
What does Pacioli indicate as being the most important factor in carrying on business? - Answer
Cash
Who believes that there is a connection between the exactness of a trade person's bookkeeping
and the tradesperson's prosperity. - Answer Daniel Defoe
Who suggested that money is symbolic of a society's moral values? - Answer Ayn Rand
Who said: "A tailor won't try and make his own shoes he will buy from a shoemaker" - Answer
Adam Smith, good trade benefits both people in different way
What did Defoe believe useful to consider when conducting business? - Answer Everything
done in the conduct of the business should be set down in a book and every transaction should
be recorded in the books at the very time it occurs
Andrew Carnegie believes that the people with extraordinary wealth have a duty to: - Answer
Administer their wealth while alive "to produce the most beneficial results for the community"
Who said: "Let us define the investment value of a stock as the present worth of all the
dividends to be paid upon it. In short, a stock is worth only what you can get out of it" - Answer
John Burr Williams
Who argues that true wisdom comes from learning and experiences and observations? - Answer
Bacon
Who believes money is symbolic of a society's moral values? - Answer Ayn Rand
Who believes 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. - Answer Thoreau
Who argues that modern society is too focused on material possessions and that we should
prioritize our spiritual and intellectual well-being instead? - Answer Thoreau
