AGEC 101 COMPREHENSIVE EXAMS 2025/2026 QUESTIONS
AND ANSWERS RATED A+
✔✔Current assets - ✔✔Either cash or items that will become cash in the next
accounting period
✔✔staff inventory - ✔✔The section of the personnel plan that describes how well the
current employees and their level of skill meet the needs of the firm today and in the
future
✔✔staff activities - ✔✔Things that only indirectly support the accomplishment of the
firms purpose and objectives
✔✔Working Capital - ✔✔current assets - current liabilities
✔✔Maslow's pyramid of human needs - ✔✔1. Self fulfillment
2. Esteem
3. Belonging
4. Safety and security
5. Physiological
✔✔7 important responsibilities of managers when working employees: - ✔✔• develop
clear, concise, written instructions of how to perform each job
• establish a fair pay level for each position
• specify the equipment necessary to do the work and ensure that these items are
available to workers
• define and give access to additional training
• give job descriptions in terms of job/product outcomes
• apply all rules, regulations, and evaluations evenly to everyone regardless of position
and be sure they are consistent with the firms values
• define clear levels of authority between all levels of management
✔✔Where should positive feedback be given? - ✔✔In public
✔✔Where should negative feedback be given? - ✔✔In private
✔✔Theory X - ✔✔• autocratic/traditional style
• authoritarian
• tight control, no development
• all decisions made by boss
✔✔Theory Y - ✔✔• participatory style
• enabling and empowering
• workers consulted on decisions
AND ANSWERS RATED A+
✔✔Current assets - ✔✔Either cash or items that will become cash in the next
accounting period
✔✔staff inventory - ✔✔The section of the personnel plan that describes how well the
current employees and their level of skill meet the needs of the firm today and in the
future
✔✔staff activities - ✔✔Things that only indirectly support the accomplishment of the
firms purpose and objectives
✔✔Working Capital - ✔✔current assets - current liabilities
✔✔Maslow's pyramid of human needs - ✔✔1. Self fulfillment
2. Esteem
3. Belonging
4. Safety and security
5. Physiological
✔✔7 important responsibilities of managers when working employees: - ✔✔• develop
clear, concise, written instructions of how to perform each job
• establish a fair pay level for each position
• specify the equipment necessary to do the work and ensure that these items are
available to workers
• define and give access to additional training
• give job descriptions in terms of job/product outcomes
• apply all rules, regulations, and evaluations evenly to everyone regardless of position
and be sure they are consistent with the firms values
• define clear levels of authority between all levels of management
✔✔Where should positive feedback be given? - ✔✔In public
✔✔Where should negative feedback be given? - ✔✔In private
✔✔Theory X - ✔✔• autocratic/traditional style
• authoritarian
• tight control, no development
• all decisions made by boss
✔✔Theory Y - ✔✔• participatory style
• enabling and empowering
• workers consulted on decisions
