BUSI 1301 Final Exam Solved 100% Correct

Products have tangible attributes only - ANSWER-False The goal of business activities is profit - ANSWER-True Nonprofit organization such as habitat for humanity do not engage in management, marketing, or finance activities. - ANSWER-False Profit is what it cost to make and sell a product - ANSWER-False Businesses have the right to keep and use their profits as they choose, without limitations. - ANSWER-False Businesses differ from nonprofit organizations in that a business's focus is on - ANSWER-profit When purchasing a product, the consumer is actually buying its anticipated benefits and - ANSWER-satisfaction If a business is to be successful in the long run, it must treat its customers, employees, and community with social - ANSWER-responsibility Which of the following is not a product? - ANSWER-business proft The goal of business is to earn - ANSWER-a profit Which of the following has been cited ass incidents fo unethical business activity recently? - ANSWER-unfair competitive practices in the computer industry Deceptive advertising of food and diet products accounting fraud Improper use of the internet Which of the following statements is false? - ANSWER-ethical issues are limited to for-profit organizations What is business ethics? - ANSWER-is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment An ethical issue is an idnetfiable problem, situation, or opportunity that requires a person or organization to choose from among several actions that may be evaluated as ethical or unethical. - ANSWER-True The best way to judge the ethics of a decision is to look at it from a manage's or employee's point of view. - ANSWER-False The size of the transaction, the history or personal relationships within the particular company, and many other factors may determine whether a customer gift will be judged as ethical. - ANSWER-True Conflicts of interest are payments, gifts, or special favors intended to influence the outcome of a decision. - ANSWER-False Ethics is related to the culture in which a business operates. - ANSWER-True The best way to judge the ethics of a decision is to - ANSWER-look at the situation forms a customer's or competitor's viewpoint. In the united states, if a business person brought an elaborately wrapped gift to a prospective client on their first meeting, it might be viewed as - ANSWER-a bribe The Webb - pomerence export trade act allows selected american firms desiring international trade to form monopolies to compete with foreign cartels. - ANSWER-True Protective tariffs raise the price of foreign goods to allow competition with more expensive domestic goods. - ANSWER-True A common reason for esablishing quotas or tariffs is to prohibit dumping. - ANSWER-True Political considerations change slowly, while laws change rapidly. - ANSWER-False Differences in spoken language and body language have no impact on international business. - ANSWER-False When a company decides to do business outside its own country, it must research several factors, including potentail barriers to international trade. which of the followin is not a potential barrier cited in your text? - ANSWER-Scientific The united states, great britain, and japan - ANSWER-are industrialized nations When a country devalues its currency, this encourages the sale of its - ANSWER-domestic goods to foreign countries. If the united states wanted to redue the cost of its goods in foreign markets, itt could - ANSWER-devalue its currency The law that allows selected American firms desiring international trade to form monopolies to compete with foreign cartels is the - ANSWER-Webb-Pomerence export trade act The most popular use of the internet in the U.S.is the communication or e-mail - ANSWER-True The global information system that links many computer networks together is known as - ANSWER-the internet The internet is - ANSWER-the global information system that links many computer networks together The collection of interconnected websites or "pages" of text, graphics, audio, and video with on the internet is known a the - ANSWER-World Wide Web. The largest expected growth in internet use through 2005 is in - ANSWER-Asian-speaking countries. How many businesses are running some type of intranet? - ANSWER-over half A network of computers that permits selected companies to access the same information and may allow managers in various organizations to collaborate and communicate about the information is an - ANSWER-extranet. which of the following is the most popular use of the internet in the united states - ANSWER-E-Mail which of the following is not considered one of the main uses of the internet? - ANSWER-delivery the process which allows users to carry on one or more real-time conversations simultaneously is known as - ANSWER-instant messaging. another often used name for a stock holder is - ANSWER-shareholder corporations distribute profits to their owners in the form of - ANSWER-dividends all of the follwoing would likely be found in a company's articles of incorporation except - ANSWER-expected profitability of the corporation in creating a corporation, once the articles of incorporation are filed with the appropriate state office, the state may then issue a - ANSWER-corporate charter a private corporation is one that - ANSWER-is owned by only a few people and not traded on the open market