TEST BANK FOR UNDERSTANDING BUSINESS, 13TH EDITION
BY WILLIAM NICKELS, JIM MCHUGH, SUSAN MC A+ GRADE
Understanding EBusiness, E13e E(Nickels)
Chapter E01 E Taking ERisks Eand EMaking EProfits Ewithin Ethe EDynamic EBusiness
EEnvironment
• Businesses Eprovide Egoods, Ejobs, Eand Eservices Eto Eothers.
Answer: E TRUE
EDifficulty: E1
EEasy
Topic: E Definition Eof EBusiness
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• Businesses Eseek Eto Eearn Ea Eprofit Eby Eproviding Egoods Eand Eservices Eto Eothers.
Answer: E TRUE
EDifficulty: E1
EEasy
Topic: E Definition Eof EBusiness
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• Revenue Eis Ethe Eamount Ea Ebusiness Eearns Eabove Eand Ebeyond Ewhat Eit Espends Efor
Eexpenses Eand Ecosts.
Answer:
E FALSE
EDifficulty: E1
EEasy
,Topic: E The EFactors Ethat EAffect Ethe ESuccess Eor EFailure Eof Ean EOrganization
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• Profit Eis Ethe Eamount Eof Emoney Ea Ebusiness Eearns Eabove Eand Ebeyond Ewhat Eit Espends
Efor Esalaries Eand Eother Eexpenses.
Answer: E TRUE
EDifficulty: E1
EEasy
Topic: E The EFactors Ethat EAffect Ethe ESuccess Eor EFailure Eof Ean EOrganization
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• Since Eall Ebusinesses Emake Ea Eprofit, Estarting Ea Ebusiness Eis Enot Erisky.
Answer:
E FALSE
EDifficulty: E1
EEasy
Topic: E The EFactors Ethat EAffect Ethe ESuccess Eor EFailure Eof Ean EOrganization
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• An Eentrepreneur Erisks Etime Eand Emoney Eto Estart Eand Emanage Ea Ebusiness.
Answer: E TRUE
EDifficulty: E1
EEasy
Topic: E The EFactors Ethat EAffect Ethe ESuccess Eor EFailure Eof Ean EOrganization
,Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• If Ea Ebusiness's Ecosts Eand Eexpenses Eare Egreater Ethan Eits Erevenue, Eit Ewill Esuffer Ea Eloss.
Answer: E TRUE
EDifficulty: E1
EEasy
Topic: E The EFactors Ethat EAffect Ethe ESuccess Eor EFailure Eof Ean EOrganization
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• Profits Eof Ea Ebusiness Einclude Ethe Esalaries Epaid Eto Eits Eemployees.
Answer:
E FALSE
EDifficulty: E1
EEasy
Topic: E The EFactors Ethat EAffect Ethe ESuccess Eor EFailure Eof Ean EOrganization
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• Revenue Eis Ethe Etotal Eamount Eof Emoney Ea Ebusiness Etakes Ein Eduring Ea Egiven Eperiod
Eby Eselling Egoods Eand Eservices.
Answer: E TRUE
EDifficulty: E1
EEasy
Topic: E The EFactors Ethat EAffect Ethe ESuccess Eor EFailure Eof Ean EOrganization
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
, Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• Risk Eis Ethe Echance Ean Eentrepreneur Etakes Eof Elosing Etime Eand Emoney Eon Ea Ebusiness
Ethat Emay Enot Eprove Eprofitable.
Answer: E TRUE
EDifficulty: E1
EEasy
Topic: E The EFactors Ethat EAffect Ethe ESuccess Eor EFailure Eof Ean EOrganization
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• The EUnited EStates Ehas Eone Eof Ethe Ehighest Estandards Eof Eliving Ein Ethe Eworld.
Answer: E TRUE
EDifficulty: E1
EEasy
Topic: E The EPrivate EEnterprise ESystem
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• The Eterm E"standard Eof Eliving" Erefers Eto Ethe Eamount Eof Edebt Epeople Ecan Eincur Eon Ea
Egiven
income.
Answer:
E FALSE
EDifficulty: E1
EEasy
Topic: E The EPrivate EEnterprise ESystem
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
BY WILLIAM NICKELS, JIM MCHUGH, SUSAN MC A+ GRADE
Understanding EBusiness, E13e E(Nickels)
Chapter E01 E Taking ERisks Eand EMaking EProfits Ewithin Ethe EDynamic EBusiness
EEnvironment
• Businesses Eprovide Egoods, Ejobs, Eand Eservices Eto Eothers.
Answer: E TRUE
EDifficulty: E1
EEasy
Topic: E Definition Eof EBusiness
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• Businesses Eseek Eto Eearn Ea Eprofit Eby Eproviding Egoods Eand Eservices Eto Eothers.
Answer: E TRUE
EDifficulty: E1
EEasy
Topic: E Definition Eof EBusiness
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• Revenue Eis Ethe Eamount Ea Ebusiness Eearns Eabove Eand Ebeyond Ewhat Eit Espends Efor
Eexpenses Eand Ecosts.
Answer:
E FALSE
EDifficulty: E1
EEasy
,Topic: E The EFactors Ethat EAffect Ethe ESuccess Eor EFailure Eof Ean EOrganization
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• Profit Eis Ethe Eamount Eof Emoney Ea Ebusiness Eearns Eabove Eand Ebeyond Ewhat Eit Espends
Efor Esalaries Eand Eother Eexpenses.
Answer: E TRUE
EDifficulty: E1
EEasy
Topic: E The EFactors Ethat EAffect Ethe ESuccess Eor EFailure Eof Ean EOrganization
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• Since Eall Ebusinesses Emake Ea Eprofit, Estarting Ea Ebusiness Eis Enot Erisky.
Answer:
E FALSE
EDifficulty: E1
EEasy
Topic: E The EFactors Ethat EAffect Ethe ESuccess Eor EFailure Eof Ean EOrganization
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• An Eentrepreneur Erisks Etime Eand Emoney Eto Estart Eand Emanage Ea Ebusiness.
Answer: E TRUE
EDifficulty: E1
EEasy
Topic: E The EFactors Ethat EAffect Ethe ESuccess Eor EFailure Eof Ean EOrganization
,Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• If Ea Ebusiness's Ecosts Eand Eexpenses Eare Egreater Ethan Eits Erevenue, Eit Ewill Esuffer Ea Eloss.
Answer: E TRUE
EDifficulty: E1
EEasy
Topic: E The EFactors Ethat EAffect Ethe ESuccess Eor EFailure Eof Ean EOrganization
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• Profits Eof Ea Ebusiness Einclude Ethe Esalaries Epaid Eto Eits Eemployees.
Answer:
E FALSE
EDifficulty: E1
EEasy
Topic: E The EFactors Ethat EAffect Ethe ESuccess Eor EFailure Eof Ean EOrganization
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• Revenue Eis Ethe Etotal Eamount Eof Emoney Ea Ebusiness Etakes Ein Eduring Ea Egiven Eperiod
Eby Eselling Egoods Eand Eservices.
Answer: E TRUE
EDifficulty: E1
EEasy
Topic: E The EFactors Ethat EAffect Ethe ESuccess Eor EFailure Eof Ean EOrganization
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
, Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• Risk Eis Ethe Echance Ean Eentrepreneur Etakes Eof Elosing Etime Eand Emoney Eon Ea Ebusiness
Ethat Emay Enot Eprove Eprofitable.
Answer: E TRUE
EDifficulty: E1
EEasy
Topic: E The EFactors Ethat EAffect Ethe ESuccess Eor EFailure Eof Ean EOrganization
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• The EUnited EStates Ehas Eone Eof Ethe Ehighest Estandards Eof Eliving Ein Ethe Eworld.
Answer: E TRUE
EDifficulty: E1
EEasy
Topic: E The EPrivate EEnterprise ESystem
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
Bloom's: E Remember
E AACSB: E Reflective
EThinking
Accessibility: E Keyboard ENavigation
• The Eterm E"standard Eof Eliving" Erefers Eto Ethe Eamount Eof Edebt Epeople Ecan Eincur Eon Ea
Egiven
income.
Answer:
E FALSE
EDifficulty: E1
EEasy
Topic: E The EPrivate EEnterprise ESystem
Learning EObjective: E 01-01 EDescribe Ethe Erelationship Ebetween Eprofit Eand Erisk, Eand Eshow
Ehow Ebusinesses Eand Enonprofit Eorganizations Ecan Eraise Ethe Estandard Eof Eliving Efor Eall.
