BUS 101 Final Exam ACTUAL Exam
Questions and CORRECT Answers
Businesses engage in environmental protection activities to show their responsibility to their
general public stakeholders. - CORRECT ANSWER - True
The critical path method (CPM) is used to design, test, and modify new and existing products. -
CORRECT ANSWER - False
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
Service companies generally use a repetitive or intermittent production process rather than the
continuous process. - CORRECT ANSWER - True
A well-designed product transcends cultural barriers. It does not need to be changed to suit
different countries or cultures. - CORRECT ANSWER - False
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
Economics is the study of a society's financial institutions. - CORRECT ANSWER - False
, The marketing concept: - CORRECT ANSWER - does all of the above?
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
Employee ownership creates too much stress and is a poor motivator. - CORRECT
ANSWER - False
Types of promotional goals include creating awareness, increasing the use of products, and
identifying potential customers. - CORRECT ANSWER - True
Internet retailing is also called e-retailing. - CORRECT ANSWER - True
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
_____ planning is the creation of long-range, comprehensive objectives and the development of
long-term courses of action. - CORRECT ANSWER - Strategic
Questions and CORRECT Answers
Businesses engage in environmental protection activities to show their responsibility to their
general public stakeholders. - CORRECT ANSWER - True
The critical path method (CPM) is used to design, test, and modify new and existing products. -
CORRECT ANSWER - False
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
Service companies generally use a repetitive or intermittent production process rather than the
continuous process. - CORRECT ANSWER - True
A well-designed product transcends cultural barriers. It does not need to be changed to suit
different countries or cultures. - CORRECT ANSWER - False
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
Economics is the study of a society's financial institutions. - CORRECT ANSWER - False
, The marketing concept: - CORRECT ANSWER - does all of the above?
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
Employee ownership creates too much stress and is a poor motivator. - CORRECT
ANSWER - False
Types of promotional goals include creating awareness, increasing the use of products, and
identifying potential customers. - CORRECT ANSWER - True
Internet retailing is also called e-retailing. - CORRECT ANSWER - True
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
_____ planning is the creation of long-range, comprehensive objectives and the development of
long-term courses of action. - CORRECT ANSWER - Strategic
