BMGT 110 FINAL EXAM QUESTIONS WITH ACCURATE
ANSWERS
Accounting correct answer fundamental method for developing and maintaining
business information.
Acquisition correct answer One company's purchase of the property and
obligations of another company.
Advertising correct answer the paid, non-personal, promotion of goods, services,
companies and ideas by an identified sponsor.
Advertising Ethics correct answer stretches the truth, some completely
untruthful.
Affiliate Marketing correct answer An internet-based marketing strategy in which
a business rewards individuals or other businesses (affiliates) for each visitor or
customer the affiliate sends to its website.
Assembly Process correct answer The part of the production process that puts
together components.
Assets correct answer everything a company owns that is due to it including
current assets, fixed assets, and intangible assets
Autocratic Leadership correct answer Leadership style that involves making
managerial decisions without consulting others.
,Balance Sheet correct answer provides a quantitive summary of a company's
financial condition at a specific point in time, often at the end of the month.
Benchmarking correct answer Comparing an organization's practices, processes,
and products against the world's best.
Benefit Segmentation correct answer Dividing the market by determining which
benefits of the product to talk about.
Bookkeeping correct answer the recording of business transactions
boycott correct answer pressure management by asking consumers not to buy
the products of the company
Brain Drain correct answer The loss of well-educated people such as doctors or
engineers to another country.
Brainstorming correct answer Coming up with as many solutions to a problem as
possible in a short period of time with no censoring of ideas.
Brand Name correct answer A word, letter, or group of words or letters that
differentiates one seller's goods and services from those of competitors.
budgeting correct answer the process of predicting and controlling the spreading
of money within the organization of a definitive period of time
,Bureaucracy correct answer An organization with many layers of managers who
set rules and regulations and oversee all decisions.
Business correct answer An activity that seeks to provide goods and services to
others while operating at a profit.
Business Cycles correct answer The periodic rises and falls that occur in all
economies over time
Business Environment correct answer The surrounding factors that either help or
hinder the development of business.
Business Plan correct answer A detailed written statement that describes the
nature of the business, the target market, the advantages the business will have
in relation to competition, and the resources and qualifications of the owner(s).
Business-to-Business (B2B) Market correct answer All the individuals and
organizations that want goods and services to use in producing other goods and
services or to sell, rent, or supply goods to others.
Capitalism correct answer An economic system in which all or most of the factors
of production and distribution are privately owned and operated for profit.
Centralized Authority correct answer An organization structure in which decision-
making authority is maintained at the top level of management at the company's
headquarters.
, Chain of Command correct answer The line of authority that moves from the top
of a hierarchy to the lowest level.
Climate Change correct answer The movement of the temperature of the planet
up or down over time.
Command Economies correct answer Economic systems in which the government
largely decides what goods and services will be produced, who will get them, and
how the economy will grow.
commercial paper correct answer promissory notes of $100,000 with a short-term
due date, can be sold to investors
Communism correct answer An economic and political system in which the
government makes almost all economic decisions and owns almost all the major
factors of production.
Competition issues correct answer rooted in the channel of distribution. Used to
create service efficiencies, a channel of distribution is a network of intermediaries
that includes wholesalers, distributers, retailers, etc.
Computer - Aided Design (CAD) correct answer Using computers and IT when
designing products.
Computer - Aided Manufacturing (CAM) correct answer The use of computers in
the manufacturing of products.
ANSWERS
Accounting correct answer fundamental method for developing and maintaining
business information.
Acquisition correct answer One company's purchase of the property and
obligations of another company.
Advertising correct answer the paid, non-personal, promotion of goods, services,
companies and ideas by an identified sponsor.
Advertising Ethics correct answer stretches the truth, some completely
untruthful.
Affiliate Marketing correct answer An internet-based marketing strategy in which
a business rewards individuals or other businesses (affiliates) for each visitor or
customer the affiliate sends to its website.
Assembly Process correct answer The part of the production process that puts
together components.
Assets correct answer everything a company owns that is due to it including
current assets, fixed assets, and intangible assets
Autocratic Leadership correct answer Leadership style that involves making
managerial decisions without consulting others.
,Balance Sheet correct answer provides a quantitive summary of a company's
financial condition at a specific point in time, often at the end of the month.
Benchmarking correct answer Comparing an organization's practices, processes,
and products against the world's best.
Benefit Segmentation correct answer Dividing the market by determining which
benefits of the product to talk about.
Bookkeeping correct answer the recording of business transactions
boycott correct answer pressure management by asking consumers not to buy
the products of the company
Brain Drain correct answer The loss of well-educated people such as doctors or
engineers to another country.
Brainstorming correct answer Coming up with as many solutions to a problem as
possible in a short period of time with no censoring of ideas.
Brand Name correct answer A word, letter, or group of words or letters that
differentiates one seller's goods and services from those of competitors.
budgeting correct answer the process of predicting and controlling the spreading
of money within the organization of a definitive period of time
,Bureaucracy correct answer An organization with many layers of managers who
set rules and regulations and oversee all decisions.
Business correct answer An activity that seeks to provide goods and services to
others while operating at a profit.
Business Cycles correct answer The periodic rises and falls that occur in all
economies over time
Business Environment correct answer The surrounding factors that either help or
hinder the development of business.
Business Plan correct answer A detailed written statement that describes the
nature of the business, the target market, the advantages the business will have
in relation to competition, and the resources and qualifications of the owner(s).
Business-to-Business (B2B) Market correct answer All the individuals and
organizations that want goods and services to use in producing other goods and
services or to sell, rent, or supply goods to others.
Capitalism correct answer An economic system in which all or most of the factors
of production and distribution are privately owned and operated for profit.
Centralized Authority correct answer An organization structure in which decision-
making authority is maintained at the top level of management at the company's
headquarters.
, Chain of Command correct answer The line of authority that moves from the top
of a hierarchy to the lowest level.
Climate Change correct answer The movement of the temperature of the planet
up or down over time.
Command Economies correct answer Economic systems in which the government
largely decides what goods and services will be produced, who will get them, and
how the economy will grow.
commercial paper correct answer promissory notes of $100,000 with a short-term
due date, can be sold to investors
Communism correct answer An economic and political system in which the
government makes almost all economic decisions and owns almost all the major
factors of production.
Competition issues correct answer rooted in the channel of distribution. Used to
create service efficiencies, a channel of distribution is a network of intermediaries
that includes wholesalers, distributers, retailers, etc.
Computer - Aided Design (CAD) correct answer Using computers and IT when
designing products.
Computer - Aided Manufacturing (CAM) correct answer The use of computers in
the manufacturing of products.
