Test Bank for Understanding Business, 13th Edition by William Nickels, Jim McHugh, Susan Mc ISBN, 978-1260894851 Chapters 1-20 Complete Guide A+

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Test Bank for Understanding Business, 13th Edition by William Nickels, Jim McHugh, Susan Mc ISBN, 978-1260894851 Chapters 1-20 Complete Guide A+

Name: Test Bank for Understanding Business, 13th Edition by William Nickels, Jim McHugh, Susan Mc ISBN, 978-1260894851 Chapters 1-20 Complete Guide A+
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Test Bank for Understanding Business, 13th Edition by William Nickels, Jim McHugh, Susan Mc ISBN, 978-1260894851 Chapters 1-20 Complete Guide A+

Content preview

7/4/23,g10:48gA SolutiongManualgTestgbankgForgUnderstandinggBusinessg13egNic
M kels

ForgAllgChaptersgà

UnderstandinggBusiness,g13eg(Nickels)
Chapterg01g TakinggRisksgandgMakinggProfitsgwithingthegDynamicgBusinessgEnvironment

1) Businessesgprovideggoods,gjobs,gandgservicesgtogothers.

Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g DefinitiongofgBusiness
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation

2) Businessesgseekgtogearngagprofitgbygprovidingggoodsgandgservicesgtogothers.

Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g DefinitiongofgBusiness
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation

3) Revenuegisgthegamountgagbusinessgearnsgabovegandgbeyondgwhatgitgspendsgforgexpen
sesgandg costs.

Answer:g FALSEg Diffic
ulty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation

1

about:blank 1/122

,7/4/23,g10:48gA SolutiongManualgTestgbankgForgUnderstandinggBusinessg13egNic
M kels

ForgAllgChaptersgà

4) Profitgisgthegamountgofgmoneygagbusinessgearnsgabovegandgbeyondgwhatgitgspendsgfor
gsalariesg andgothergexpenses.

Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation

5) Sincegallgbusinessesgmakegagprofit,gstartinggagbusinessgisgnotgrisky.

Answer:g FALSEg Diffic
ulty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation

6) Angentrepreneurgrisksgtimegandgmoneygtogstartgandgmanagegagbusiness.

Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation

7) Ifgagbusiness'sgcostsgandgexpensesgareggreatergthangitsgrevenue,gitgwillgsuffergagloss.

Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation

2

about:blank 2/122

,7/4/23,g10:48gA SolutiongManualgTestgbankgForgUnderstandinggBusinessg13egNic
M kels

ForgAllgChaptersgà

8) Profitsgofgagbusinessgincludegthegsalariesgpaidgtogitsgemployees.

Answer:g FALSEg Diffic
ulty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Remember
AACSB:g ReflectivegThinkingg Ac
cessibility:g KeyboardgNavigation

9) Revenuegisgthegtotalgamountgofgmoneygagbusinessgtakesgingduringgaggivengperiodgb
ygsellingg goodsgandgservices.

Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation

10) Riskgisgthegchancegangentrepreneurgtakesgofglosinggtimegandgmoneygongagbusinessgthat
gmaygnotg provegprofitable.

Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation

11) ThegUnitedgStatesghasgonegofgtheghighestgstandardsgofglivinggingthegworld.

Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegPrivategEnterprisegSystem
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation

12) Thegtermg"standardgofgliving"grefersgtogthegamountgofgdebtgpeoplegcangincurgongaggiven
3

about:blank 3/122

, 7/4/23,g10:48gA SolutiongManualgTestgbankgForgUnderstandinggBusinessg13egNic
M kels

ForgAllgChaptersgà

income.

Answer:g FALSEg Diffic
ulty:g1gEasy
Topic:g ThegPrivategEnterprisegSystem
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Remember
AACSB:g ReflectivegThinkingg Ac
cessibility:g KeyboardgNavigation

13) Healthgcaregavailability,gagcleangenvironment,gandggoodgschoolsgallgcontributegtog
aghighg qualitygofglife.

Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegPrivategEnterprisegSystem
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation

14) Maintaininggaghighgqualitygofglifegrequiresgthegcombinedgeffortsgofgbusinesses,gno
nprofitg organizations,gandggovernmentgagencies.

Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegPrivategEnterprisegSystem
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation

4

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William G. Nickels, James M. McHugh, Susan M. McHugh Understanding Business

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