EGCC BUS101 Into to Business – Final
UPDATED ACTUAL Exam Questions and
CORRECT Answers
t/f; Businesses engage in environmental protection activities to show their responsibility to
their general public stakeholders. - CORRECT ANSWER✔✔- true
t/f; The critical path method (CPM) is used to design, test, and modify new and existing
products. - CORRECT ANSWER✔✔- false
t/f; A tall organization structure has many managerial levels and a long chain of command. -
CORRECT ANSWER✔✔- true
Management involves: - CORRECT ANSWER✔✔- all of the above
One of the documents that help human resource planners find the right person for a specific
job is a list of tasks and responsibilities required of the job. This document is known as a: -
CORRECT ANSWER✔✔- job description
t/f; Service companies generally use a repetitive or intermittent production process rather than
the continuous process. - CORRECT ANSWER✔✔- true
t/f; A well-designed product transcends cultural barriers. It does not need to be changed to
suit different countries or cultures. - CORRECT ANSWER✔✔- false
t/f; Retained earnings are the amounts left over from profitable operations since the firm's
beginning. They are equal to total profits minus all dividends paid to stockholders. -
CORRECT ANSWER✔✔- true
t/f; Economics is the study of a society's financial institutions. - CORRECT ANSWER✔✔-
false
The marketing concept:
, -satisfies customer wants and needs legally and responsibly
-does all of the above
- focuses on customer wants so the company can differentiate its product from its competition
-integrates all of the company's activities to satisfy customer wants
- achieves long-term organizational goals - CORRECT ANSWER✔✔- does all of the above
t/f; A current asset is one that can or will be converted into cash within one year. - CORRECT
ANSWER✔✔- true
_____ is the set of moral standards for judging whether something is right or wrong. -
CORRECT ANSWER✔✔- ethics
_____ is the gap between what is and what is desired, and _____ is the gap between what is
and what is required. - CORRECT ANSWER✔✔- a want; a need
t/f; Employee ownership creates too much stress and is a poor motivator. - CORRECT
ANSWER✔✔- false
t/f; Types of promotional goals include creating awareness, increasing the use of products,
and identifying potential customers. - CORRECT ANSWER✔✔- true
t/f; Internet retailing is also called e-retailing. - CORRECT ANSWER✔✔- true
t/f; The International Monetary Fund (IMF) was created to promote trade through financial
cooperation by working to eliminate trade barriers. - CORRECT ANSWER✔✔- true
Leon Georges works in the warehouse for a manufacturer of air-purification systems. He is
responsible for the transportation of metal components, preformed plastic, etc. used to
manufacture the systems as well as the efficient movement of the finished systems from the
manufacturing facility to the warehouse to distribution trucks. Georges is involved in: -
CORRECT ANSWER✔✔- distribution
UPDATED ACTUAL Exam Questions and
CORRECT Answers
t/f; Businesses engage in environmental protection activities to show their responsibility to
their general public stakeholders. - CORRECT ANSWER✔✔- true
t/f; The critical path method (CPM) is used to design, test, and modify new and existing
products. - CORRECT ANSWER✔✔- false
t/f; A tall organization structure has many managerial levels and a long chain of command. -
CORRECT ANSWER✔✔- true
Management involves: - CORRECT ANSWER✔✔- all of the above
One of the documents that help human resource planners find the right person for a specific
job is a list of tasks and responsibilities required of the job. This document is known as a: -
CORRECT ANSWER✔✔- job description
t/f; Service companies generally use a repetitive or intermittent production process rather than
the continuous process. - CORRECT ANSWER✔✔- true
t/f; A well-designed product transcends cultural barriers. It does not need to be changed to
suit different countries or cultures. - CORRECT ANSWER✔✔- false
t/f; Retained earnings are the amounts left over from profitable operations since the firm's
beginning. They are equal to total profits minus all dividends paid to stockholders. -
CORRECT ANSWER✔✔- true
t/f; Economics is the study of a society's financial institutions. - CORRECT ANSWER✔✔-
false
The marketing concept:
, -satisfies customer wants and needs legally and responsibly
-does all of the above
- focuses on customer wants so the company can differentiate its product from its competition
-integrates all of the company's activities to satisfy customer wants
- achieves long-term organizational goals - CORRECT ANSWER✔✔- does all of the above
t/f; A current asset is one that can or will be converted into cash within one year. - CORRECT
ANSWER✔✔- true
_____ is the set of moral standards for judging whether something is right or wrong. -
CORRECT ANSWER✔✔- ethics
_____ is the gap between what is and what is desired, and _____ is the gap between what is
and what is required. - CORRECT ANSWER✔✔- a want; a need
t/f; Employee ownership creates too much stress and is a poor motivator. - CORRECT
ANSWER✔✔- false
t/f; Types of promotional goals include creating awareness, increasing the use of products,
and identifying potential customers. - CORRECT ANSWER✔✔- true
t/f; Internet retailing is also called e-retailing. - CORRECT ANSWER✔✔- true
t/f; The International Monetary Fund (IMF) was created to promote trade through financial
cooperation by working to eliminate trade barriers. - CORRECT ANSWER✔✔- true
Leon Georges works in the warehouse for a manufacturer of air-purification systems. He is
responsible for the transportation of metal components, preformed plastic, etc. used to
manufacture the systems as well as the efficient movement of the finished systems from the
manufacturing facility to the warehouse to distribution trucks. Georges is involved in: -
CORRECT ANSWER✔✔- distribution
