BUSI 100 Test Questions with Verified Correct
Answers
In Plato's The Republic, who or what is the "true creator" of a State?
Necessity
In Plato's The Republic, individuals exchange with one another, and one gives, and another
receives, with the intention that the exchange will...
A. benefit the State
B. be nullified
C. enrich one, but not the other
D. be a "zero-sum" transaction
E. none of the above
E. none of the above
An example of Adam Smith's "invisible hand" is a statesman, council, or senate who
directs private people in what manner they ought to employ their capitol.
True or false
False
In Smith's Wealth of Nations, he makes the argument that given equal profits between
domestic and foreign trade, a merchant is likely to put his greatest support into developing
the foreign market.
True or false
False
,Who said that continual reading of novels leads to "dulness of sight, a stagnation of the
vital circulations, and a general deliquium and sloughing off of all the intellectual
faculties."
Henry David Thoreau
A start-up firm is seeking to raise financing, but does not yet have a product to sell. Which
type of financing is the firm most likely to attract?
Debt or equity
Equity
A start-up firm is looking to raise financing from an investor that will help guide the
company's founders, neither of whom have experience growing a business or substantive
industry connections. What type of financing is the firm most likely to prefer?
Debt or equity
Equity
When coaching at Rutgers, 21-years old Jim Valvano told his students-athletes before their
first game that they would be successful if they "focus on three things, and three things
only." What is on his list?
Family
Pacioli indicates that the purpose of every merchant is to...
Make a profit
Pacioli indicates that "as we know", there are 3 things needed by any one who wishes to
carry on business carefully. Which item is NOT included?
, A. Arrange all transactions in a systematic way
B. Cash
C. A co-founder, or reliable business partner.
D. Be a good bookkeeper and ready mathematician
C. A co-founder, or reliable business partner
Without ___ , Pacioli indicates that it is impossible for merchants "to conduct their
business, for they would have no rest and their minds would always be troubled."
Systematically arranging all transactions
Defoe indicates that if it is too tedious to keep books exactly, partial book-keeping still
provides many benefits to the merchant.
True or false
False
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 in the books at the very time it occurs
C. A tradesperson should be satisfied to see that there is more cash in their account than
their books indicated
A and B
Defoe tells a story about a tradesman who could neither read nor write. What lesson does
he intend to teach by telling this story?
Answers
In Plato's The Republic, who or what is the "true creator" of a State?
Necessity
In Plato's The Republic, individuals exchange with one another, and one gives, and another
receives, with the intention that the exchange will...
A. benefit the State
B. be nullified
C. enrich one, but not the other
D. be a "zero-sum" transaction
E. none of the above
E. none of the above
An example of Adam Smith's "invisible hand" is a statesman, council, or senate who
directs private people in what manner they ought to employ their capitol.
True or false
False
In Smith's Wealth of Nations, he makes the argument that given equal profits between
domestic and foreign trade, a merchant is likely to put his greatest support into developing
the foreign market.
True or false
False
,Who said that continual reading of novels leads to "dulness of sight, a stagnation of the
vital circulations, and a general deliquium and sloughing off of all the intellectual
faculties."
Henry David Thoreau
A start-up firm is seeking to raise financing, but does not yet have a product to sell. Which
type of financing is the firm most likely to attract?
Debt or equity
Equity
A start-up firm is looking to raise financing from an investor that will help guide the
company's founders, neither of whom have experience growing a business or substantive
industry connections. What type of financing is the firm most likely to prefer?
Debt or equity
Equity
When coaching at Rutgers, 21-years old Jim Valvano told his students-athletes before their
first game that they would be successful if they "focus on three things, and three things
only." What is on his list?
Family
Pacioli indicates that the purpose of every merchant is to...
Make a profit
Pacioli indicates that "as we know", there are 3 things needed by any one who wishes to
carry on business carefully. Which item is NOT included?
, A. Arrange all transactions in a systematic way
B. Cash
C. A co-founder, or reliable business partner.
D. Be a good bookkeeper and ready mathematician
C. A co-founder, or reliable business partner
Without ___ , Pacioli indicates that it is impossible for merchants "to conduct their
business, for they would have no rest and their minds would always be troubled."
Systematically arranging all transactions
Defoe indicates that if it is too tedious to keep books exactly, partial book-keeping still
provides many benefits to the merchant.
True or false
False
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 in the books at the very time it occurs
C. A tradesperson should be satisfied to see that there is more cash in their account than
their books indicated
A and B
Defoe tells a story about a tradesman who could neither read nor write. What lesson does
he intend to teach by telling this story?
