B US 110- Pr inciples of B u siness
Final Exam Qu estions an d answ er s
w ith accu r ate r ationales(PASSED)
Trademark - answer the exclusive right to use a brand or part of a brand
Copyright - answer the exclusive legal right, given to an originator or an assignee
to print, publish, perform, film, or record literary, artistic, or musical material, and
to authorize others to do the same.
Income Statement - answer A financial statement showing the revenue and
expenses for a fiscal period.
Revenue-Expenses=profit/loss - answer The profit and loss (P&L) statement is a
financial statement that summarizes the revenues, costs, and expenses incurred
during a specified period, usually a fiscal quarter or year.
Maslow's Hierarchy of Needs - answer physiological, safety, social, esteem, self-
actualization
Technical Skills - answer skills that involve the ability to perform tasks in a specific
discipline or department
, Conceptual Skills - answer the ability to analyze and diagnose a situation and to
distinguish between cause and effect
Herzberg's Hygiene Factors - answer company policy and administration,
supervision, salary - factors that when adequate in a job, placate workers, and
workers will not be dissatisfied
Break-Even Point calculation - answer Fixed cost/total sales revenue-cost to make
product
Union Shops(open) - answer Shop that does not restrict its employees to union
members.
Union Shops(closed) - answer the employer agrees to hire union members only,
and employees must remain members of the union at all times in order to remain
employed.
Union Shops(agency) - answer union security agreement where the employer may
hire union or non-union workers, and employees need not join the union in order
to remain employed. However, the non-union worker must pay a fee to cover
collective bargaining costs.
Mediation - answer A method of settling disputes outside of court by using the
services of a neutral third party, called a mediator. The mediator acts as a
communicating agent between the parties and suggests ways in which the parties
can resolve their dispute.
Final Exam Qu estions an d answ er s
w ith accu r ate r ationales(PASSED)
Trademark - answer the exclusive right to use a brand or part of a brand
Copyright - answer the exclusive legal right, given to an originator or an assignee
to print, publish, perform, film, or record literary, artistic, or musical material, and
to authorize others to do the same.
Income Statement - answer A financial statement showing the revenue and
expenses for a fiscal period.
Revenue-Expenses=profit/loss - answer The profit and loss (P&L) statement is a
financial statement that summarizes the revenues, costs, and expenses incurred
during a specified period, usually a fiscal quarter or year.
Maslow's Hierarchy of Needs - answer physiological, safety, social, esteem, self-
actualization
Technical Skills - answer skills that involve the ability to perform tasks in a specific
discipline or department
, Conceptual Skills - answer the ability to analyze and diagnose a situation and to
distinguish between cause and effect
Herzberg's Hygiene Factors - answer company policy and administration,
supervision, salary - factors that when adequate in a job, placate workers, and
workers will not be dissatisfied
Break-Even Point calculation - answer Fixed cost/total sales revenue-cost to make
product
Union Shops(open) - answer Shop that does not restrict its employees to union
members.
Union Shops(closed) - answer the employer agrees to hire union members only,
and employees must remain members of the union at all times in order to remain
employed.
Union Shops(agency) - answer union security agreement where the employer may
hire union or non-union workers, and employees need not join the union in order
to remain employed. However, the non-union worker must pay a fee to cover
collective bargaining costs.
Mediation - answer A method of settling disputes outside of court by using the
services of a neutral third party, called a mediator. The mediator acts as a
communicating agent between the parties and suggests ways in which the parties
can resolve their dispute.
