ETS MAJOR FIELD TEST PRACTICE TEST –
BACHELOR’S DEGREE IN BUSINESS:
PRACTICE QUESTIONS & ANSWERS |
COMPLETE ETS BUSINESS STUDY GUIDE
& EXAM PREP
| GRADED A+ | GUARANTEED SUCCESS
Updated Questions and Answers
100% Verified Exam Prep
,The common characteristic possessed by all assets is d) Future economic benefit
a) Long life
b) Great monetary value
c) Tangible nature
d) Future economic benefit
Which Foreign Direct Investment (FDI) attempts to acquire c) Resource-seeking FDI
particular resources at a lower real cost than could be
obtained in the home country?
a) Market-seeking FDI
b) Efficiency-seeking FDI
c) Resource-seeking FDI
d) Strategic asset-seeking FDI
Under the Uniform Commercial Code (UCC) statute of frauds, b) The quantity of the goods
which of the following terms must be included in writing in
order to satisfy the writing requirement?
a) The price of the goods.
b) The quantity of the goods.
c) The signatures and names of the buyer and the seller
d) The time and place for delivery
Which of the following is an appropriate Federal Reserve c) Reducing the reserve requirement
action to stimulate the United States economy?
a) Selling government bonds on the open market
b) Increasing the discount rate
c) Reducing the reserve requirement
d) Cutting taxes
,Which of the following is true with regard to an exculpatory d) All of the above are true
clause?
a) An exculpatory clause excuses one party from liability for
his/her own tortious conduct.
b) Where one party has a superior bargaining position that has
enabled him/her to impose an exculpatory clause upon the
other, the courts are inclined to nullify the provision.
c) An exculpatory clause may be unenforceable for
unconscionability.
d) All of the above are true
Managers at ABC, Inc. analyze the current situation of their b) Strategy formulation
organization and then develop plans to help their organization
to accomplish its mission and achieve its goals. This is known
as:
a) Synergy planning
b) Strategy formulation
c) Functional planning
d) SWOT analysis
A group that develops naturally as a result of employees' a) an informal group
interaction within an organization is referred to as
a) an informal group
b) a formal group
c) a work-team group
d) a formation group
When employees use email, word processors, electronic c) Office automation systems
scheduling / calendars, they are using which of the following?
a) Transaction processing systems
b) Process control systems
c) Office automation systems
d) Decision support systems
, A standard procedure for numerically measuring a project's d) earned value analysis (EVA)
progress, forecasting its completion date and cost and
providing measures of schedule and budget variation as
activities are completed is referred to as
a) program evaluation and review technique (PERT)
b) the critical path method (CPM)
c) a Gantt chart
d) earned value analysis (EVA)
High product differentiation is generally accompanied by b) decreased emphasis on competition based on price
a) higher market share
b) decreased emphasis on competition based on price
c) higher profit margins and lower costs
d) significant economies of scale
The essence of common law is: b) the concept of stare decisis
a) its prospective nature.
b) the concept of stare decisis
c) its flexibility
d) the plain meaning doctrine
The Organization of the Petroleum Exporting Countries b) Price will increase, but quantity is indeterminate
(OPEC) reduces production by
10 percent, and the growth rate of the world economy begins
to escalate. How will the
simultaneous occurrence of these events affect the
equilibrium price and quantity in the world
petroleum market?
a) Price will increase, but quantity will remain unchanged
b) Price will increase, but quantity is indeterminate
c) Quantity will increase, but price is indeterminate
d) Both price and quantity will increase
BACHELOR’S DEGREE IN BUSINESS:
PRACTICE QUESTIONS & ANSWERS |
COMPLETE ETS BUSINESS STUDY GUIDE
& EXAM PREP
| GRADED A+ | GUARANTEED SUCCESS
Updated Questions and Answers
100% Verified Exam Prep
,The common characteristic possessed by all assets is d) Future economic benefit
a) Long life
b) Great monetary value
c) Tangible nature
d) Future economic benefit
Which Foreign Direct Investment (FDI) attempts to acquire c) Resource-seeking FDI
particular resources at a lower real cost than could be
obtained in the home country?
a) Market-seeking FDI
b) Efficiency-seeking FDI
c) Resource-seeking FDI
d) Strategic asset-seeking FDI
Under the Uniform Commercial Code (UCC) statute of frauds, b) The quantity of the goods
which of the following terms must be included in writing in
order to satisfy the writing requirement?
a) The price of the goods.
b) The quantity of the goods.
c) The signatures and names of the buyer and the seller
d) The time and place for delivery
Which of the following is an appropriate Federal Reserve c) Reducing the reserve requirement
action to stimulate the United States economy?
a) Selling government bonds on the open market
b) Increasing the discount rate
c) Reducing the reserve requirement
d) Cutting taxes
,Which of the following is true with regard to an exculpatory d) All of the above are true
clause?
a) An exculpatory clause excuses one party from liability for
his/her own tortious conduct.
b) Where one party has a superior bargaining position that has
enabled him/her to impose an exculpatory clause upon the
other, the courts are inclined to nullify the provision.
c) An exculpatory clause may be unenforceable for
unconscionability.
d) All of the above are true
Managers at ABC, Inc. analyze the current situation of their b) Strategy formulation
organization and then develop plans to help their organization
to accomplish its mission and achieve its goals. This is known
as:
a) Synergy planning
b) Strategy formulation
c) Functional planning
d) SWOT analysis
A group that develops naturally as a result of employees' a) an informal group
interaction within an organization is referred to as
a) an informal group
b) a formal group
c) a work-team group
d) a formation group
When employees use email, word processors, electronic c) Office automation systems
scheduling / calendars, they are using which of the following?
a) Transaction processing systems
b) Process control systems
c) Office automation systems
d) Decision support systems
, A standard procedure for numerically measuring a project's d) earned value analysis (EVA)
progress, forecasting its completion date and cost and
providing measures of schedule and budget variation as
activities are completed is referred to as
a) program evaluation and review technique (PERT)
b) the critical path method (CPM)
c) a Gantt chart
d) earned value analysis (EVA)
High product differentiation is generally accompanied by b) decreased emphasis on competition based on price
a) higher market share
b) decreased emphasis on competition based on price
c) higher profit margins and lower costs
d) significant economies of scale
The essence of common law is: b) the concept of stare decisis
a) its prospective nature.
b) the concept of stare decisis
c) its flexibility
d) the plain meaning doctrine
The Organization of the Petroleum Exporting Countries b) Price will increase, but quantity is indeterminate
(OPEC) reduces production by
10 percent, and the growth rate of the world economy begins
to escalate. How will the
simultaneous occurrence of these events affect the
equilibrium price and quantity in the world
petroleum market?
a) Price will increase, but quantity will remain unchanged
b) Price will increase, but quantity is indeterminate
c) Quantity will increase, but price is indeterminate
d) Both price and quantity will increase
