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Questions
Q:
Which of the following statements is FALSE?A) The official absolute poverty level in the United States is far above the average income of many countries in the world.B) In a relative sense, the problem of poverty will always exist.C) An equal distribution of income would eliminate relative poverty. D) An equal distribution of income would eliminate absolute poverty.
Q:
In high-context cultures, personal relationships are crucial and high-level business executives stay in touch with their foreign counterparts.
Q:
The ________________ principle states that transactions and events are expressed in money units.
Q:
In order to hire additional laborers, a monopsony mustA) lower the supply of labor. B) raise the wage rate.C) advertise for the labor. D) do nothing.
Q:
Since formality is a way of life in the United States, even the smallest contracts between companies often involves a formal signing ceremony.
Q:
A state with ʺright-to-workʺ laws would most likely haveA) higher employment levels than neighboring states without such laws.B) more workersʹ benefits than neighboring states without such laws. C) more union workers than neighboring states without such laws.D) more worker safety requirements than neighboring states without such laws.
Q:
Planning is defining an organization's ideas, goals, and actions.
Q:
The first stage of the business negotiation process is nontask sounding, which includes all those activities that might be described as establishing rapport or getting to know one another.
Q:
The ______________ principle assumes business will continue operating indefinitely instead of being closed or sold.
Q:
The above table depicts output from a firm that manufactures computers. The computers sell for $1,000 each. What is the marginal revenue product (MRP) for the fourteenth worker per week?A) 90 units B) 80 units C) $70,000 D) $60,000
Q:
Thorough preliminary research eliminates the need for negotiators to focus on key facts to reconfirm at the negotiation table.
Q:
The three major types of business activities are operating, financing, and investing.
Q:
The theory of regulatory behavior that predicts that the ʺregulatorsʺ eventually will become controlled by the ʺregulatedʺ is calledA) the capture hypothesis.B) the the share-the-gains, share-the-pains hypothesis. C) the asymmetric information hypothesis.D) the market failure hypothesis.
Q:
Bargaining skill is at the top of almost everyone's list of negotiator traits.
Q:
Due to the great differences in the roles played by women across cultures, gender should be used as a selection criterion for international negotiation teams.
Q:
The _______________ principle requires that financial information is supported by independent, unbiased evidence.
Q:
Which of the following best describes the Tweedle Dee -Tweedle Dum outcome?
A) Two firms choose incompatible product formats.
B) Two firms choose one compatible product format.
C) Two firms wish to coordinate on one compatible product format but cannot agree on which one.
D) Two firms choose to engage in a noncooperative game.
Q:
The single most important activity of international business negotiations is summarizing.
Q:
The three common forms of business ownership include sole proprietorship, partnership, and non-profit.
Q:
A merger between firms that are in the same industry is called aA) conglomerate merger. B) horizontal merger.C) vertical merger. D) none of the above.
Q:
The principle that requires that a business be accounted for separately from its owners is the __________________ principle.
Q:
When faced with a complex negotiation task, most Asians divide the large task up into a series of smaller tasks.
Q:
Monopolistically competitive firms advertise to attempt toA) lower their average variable costs. B) build brand loyalty.C) lower barriers to entry. D) increase barriers to entry.
Q:
The Japanese tend to emphasize hierarchical relationships that leads to hampered internal communications.
Q:
In equilibrium, which of the following conditions is common to both unregulated monopoly and pure competition?A) P = MR B) AR = ATC C) MR = MC D) MC = P
Q:
The Securities and Exchange Commission (SEC) is the private group that sets both broad and specific accounting standards.
Q:
American buyers achieve better results than Japanese buyers.
Q:
_________ are beliefs that separate right from wrong.
Q:
Consider an industry that is in long -run equilibrium. An increase in demand leads to an increase in the price of the good. We know that this isA) a decreasing cost industry. B) a constant cost industry.C) an increasing cost industry. D) not a competitive industry.
Q:
The egalitarian values of American society dictate that American sellers give complete deference to the needs and wishes of buyers.
Q:
The Securities and Exchange Commission (SEC) is the government group that establishes reporting requirements for companies that issue stock to the public.
Q:
Refer to the above figure. Profits for this firm are equal to zeroA) only for all points less than B. B) only at points B and C.C) for points between B and C.D) for all points less than B and greater than C.
Q:
Objectivity is key for negotiators working in China.
Q:
As long as output increases,A) average total costs decrease. B) average variable costs decrease. C) average fixed costs decrease. D) marginal costs decrease.
Q:
Congress passed the ______________________ to help curb financial abuses at companies that issue their stock to the public.
Q:
In the context of international business negotiations, in most places in the world, collectivistic, high-context cultures do not consider personalities and substance as separate issues.
Q:
A stock that has a price of $20 per share, earnings per share of $2.00, and a dividend of $1.50 will haveA) a PE ratio of 20/1.50. B) a yield of 7.5 percent. C) a yield of 12 percent. D) a PE ratio of 1.333.
Q:
A limited liability company offers the limited liability of a partnership or proprietorship and the tax treatment of a corporation.
Q:
Five valuesrelationships, objectivity, competitiveness, equality, and punctualitythat are held strongly and deeply by most Americans seem to frequently cause misunderstandings and bad feelings in international business negotiations.
Q:
Which of the following is not an implicit cost?
A) Wages
B) Opportunity cost of using an ownerʹs savings
C) Owner-provided capital
D) Owner-provided labor
Q:
Shareholders are owners of a corporation and typically elect ______________________ to oversee their interests in the corporation.
Q:
The British, German, and American businesspeople are found to fall in the middle of most scales for dimensions of negotiating behaviors.
Q:
Israeli business negotiators use the lowest percentage of self-disclosure, yet they also use, by far, the highest percentages of promises and recommendations.
Q:
The International Accounting Standards Board (IASB) is the government group that establishes reporting requirements for companies that issue stock to the public.
Q:
The marginal rate of substitution isA) equal to unit changes in the quantities of both goods so that utility rises.B) the slope of the budget line at all points.C) the change in the quantity of one good that just offsets a unit change in another good, keeping utility constant.D) found by adding additional units.
Q:
The style of United Kingdom negotiators is the most aggressive of all cultures.
Q:
When marginal utility is positive, but decreasing, then total utility isA) increasing at a decreasing rate. B) negative.C) decreasing. D) increasing at an increasing rate.
Q:
______________ is the area of accounting aimed at serving external users.
Q:
The behavior of the businesspeople in Asian countries tends to be similar in style.
Q:
The monetary unit assumption means that all international transactions must be expressed in dollars.
Q:
Suppose that the cross price elasticity of demand between goods A and B equals 0.5. Which of the following is TRUE?A) A and B are complements because the cross price elasticity is less than one. B) A and B are complements because the cross price elasticity is positive.C) A and B are substitutes because the cross price elasticity is less than one. D) A and B are substitutes because the cross price elasticity is positive.
Q:
______________ users of accounting information are not directly involved in running the organization.
Q:
The Japanese business negotiation style comprises an infrequent use of no and you and facial gazing, as well as more frequent silent periods.
Q:
Even though price elasticity of demand is always , by convention its absolute value is always discussed as a .A) negative; prime number B) positive; negative numberC) a fraction; whole number D) negative; positive number
Q:
The variation across cultures is greater when comparing linguistic aspects of language than when the verbal content of negotiations is considered.
Q:
According to the cost principle, it is preferable for managers to report an estimate of an asset's value.
Q:
Refer to the above figure. Suppose the marginal benefit and the marginal cost curves of pollution abatement are normally shaped. Technological change that made it easier to produce in a ʺcleanerʺ fashion would causeA) curve (4) to shift out, increasing the optimal amount of pollution abatement.B) curve (3) to shift up, raising the marginal benefits and costs and reducing the amount of pollution abatement.C) curve (2) to shift out, increasing the optimal amount of pollution abatement. D) curve (1) to shift out, increasing the optimal amount of pollution abatement.
Q:
Verbal tactics used during negotiations differ vastly across diverse cultures.
Q:
A ____________________ is a business that is owned by only one person.
Q:
Which of the following statements is TRUE?A) A growing economy should see a decline in relative poverty but not in absolute poverty.B) A growing economy should see a decline in absolute poverty but not in relative poverty. C) A growing economy should see a decline in both absolute and relative poverty.D) A growing economy is usually unrelated to changes in either absolute or relative poverty.
Q:
Disagreements among foreign team members, in the form of side conversations, are often followed by concessions to the other negotiating party.
Q:
The idea that a business will continue to operate until it can sell its assets to pay its creditors underlies the going-concern assumption.
Q:
The figure supports all of the following statements regarding the marginal factor cost curve for a monopsonist EXCEPTA) the monopsonist firm looks at a marginal cost curve, MFC, which slopes upward and is above its labor supply curve.B) the marginal benefit of hiring additional workers is given by the firmʹs MRP curve.C) the intersection of MFC with MRP, at point E, determines the number of workers hired.D) a monopsonist cannot find the profit-maximizing quantity of labor demanded at E.
Q:
Americans are lacking in foreign language skills more than most countries in international business negotiations.
Q:
Accounting is an ______________________ that identifies, records and communicates relevant, reliable and comparable information about an organization's economic activities.
Q:
Which piece of legislation allowed states to pass right-to-work laws?A) Wagner Act B) Landrum-Griffin ActC) Taft-Hartley Act D) National Industrial Recovery Act
Q:
Cultural differences in nonverbal behaviors are almost always hidden below our awareness.
Q:
Objectivity means that financial information is supported by independent unbiased evidence.
Q:
The above table depicts the output of a firm that manufactures computers. The computers sell for $1,000 each. What is the marginal physical product (MPP) of the eleventh worker per week?A) 90 units B) 80 units C) $7,000 D) $6,000
Q:
Cultural differences cause four kinds of problems in international business negotiations, and these problems occur at the levels of language, nonverbal behaviors, verbal styles, and values.
Q:
__________________________ is the recording of transactions or events, and is just one part of accounting.
Q:
Which of the following is FALSE with respect to regulation?
A) Regulated firms commonly try to avoid the effects of regulation whenever they can.
B) Firms engage in creative responses which conform to the letter of the law but undermine its spirit.
C) Regulation has resulted in state laws that have made creative response illegal in many states.
D) Recent regulations have generated feedback effects that undermined the key aim of the rules.
Q:
Japan's negotiation style is unique. On almost every dimension of negotiation style considered in a study of 17 countries, the Japanese are on or near the end of the scale.
Q:
Which of the following best describes the Battle of the Sexes?A) Two firms choose incompatible product formats. B) Two firms choose one compatible product format.C) Two firms wish to coordinate on one compatible product format but cannot agree on which one.D) Two firms choose to engage in a noncooperative game.
Q:
Generalizations about the negotiation style of a region are usually correct.
Q:
The International Accounting Standards board (IASB) has the authority to impose its standards on companies around the world.
Q:
Age and experience are known to affect the negotiation behaviors of individuals.
Q:
Which of the following is a characteristic of oligopoly?A) Easy entry and exit B) Many firmsC) Strategic dependence D) None of the above
Q:
The records of Skymaster Airplane Rentals show the following information as of December 31, 2009.Skymaster withdrew $52,000 during 2009 for personal expenses.Using the above information, prepare a balance sheet at December 31, 2009.
Q:
Individual personalities and backgrounds are of no relevance at the international negotiation table.