Accounting
Anthropology
Archaeology
Art History
Banking
Biology & Life Science
Business
Business Communication
Business Development
Business Ethics
Business Law
Chemistry
Communication
Computer Science
Counseling
Criminal Law
Curriculum & Instruction
Design
Earth Science
Economic
Education
Engineering
Finance
History & Theory
Humanities
Human Resource
International Business
Investments & Securities
Journalism
Law
Management
Marketing
Medicine
Medicine & Health Science
Nursing
Philosophy
Physic
Psychology
Real Estate
Science
Social Science
Sociology
Special Education
Speech
Visual Arts
Questions
Q:
Expenses:
A.Increase equity.
B.Are gross increases in equity from a company's earning activity.
C.Are the costs of assets or services used to earn revenues.
D.Occur when equity exceeds revenue.
E.Are creditors claims on assets.
Q:
An expatriate with excellent cultural skills does not tolerate ambiguity and upholds the superiority of his or her culture.
Q:
The total benefits to society from pollution abatementA) increase at an increasing rate with the increase of pollution abatement. B) increase at a decreasing rate with the increase of pollution abatement. C) decrease at an increasing rate with the increase of pollution abatement. D) decrease at a decreasing rate with the increase of pollution abatement.
Q:
An expatriate with excellent management and technical skills is sure to excel in any environment, even if he or she lacks an understanding of cultural differences.
Q:
Assets = Liabilities + Equity is known as the:
A.Income statement equation.
B.Cost principle.
C.Objectivity principle.
D.Accounting equation.
E.Transaction principle.
Q:
Which of the following statements about the Earned Income Tax Credit Program (EITC) program is FALSE?A) On net the EITC discourages work by low - or moderate- income earners more than it rewards work.B) It provides rebates of Social Security taxes to low -income workers.C) Recipients who receive benefit payments under Social Security are also eligible for SSI.D) It is the largest poverty reduction program in the U.S..
Q:
Personal career planning for the expatriate is a significant strategy that helps companies prevent returnee attrition.
Q:
The description of the relation between a company's assets, liabilities, and equity, which is expressed as Assets = Liabilities + Equity, is known as the:
A.Income statement equation.
B.Accounting equation.
C.Business equation.
D.Return on equity ratio.
E.Net income.
Q:
Monopsonistic exploitation isA) measured by the area above the supply curve but below the wage paid.B) the difference between the marginal revenue product of a worker and the wage received by the worker.C) measured by the height of the supply curve of labor. D) the cost to society from unions.
Q:
Jacob's wife never grew accustomed to his foreign assignment and was miserable, so Jacob requested a move back to the home country. This is a common reason for an expatriate's failure to function effectively in a foreign assignment.
Q:
Decreases in equity that represent costs of assets or services used to earn revenues are called:
A.Liabilities.
B.Equity.
C.Withdrawals.
D.Expenses.
E.Owner's Investment.
Q:
The United Steel Workers Union is an example ofA) a craft union. B) an auto union.C) an industrial union. D) a blue collar union.
Q:
The primary control tool used by American sales managers is the benefits system.
Q:
Creditors' claims on the assets of a company are called:
A.Net losses.
B.Expenses.
C.Revenues.
D.Equity.
E.Liabilities.
Q:
The MRP isA) the supply curve of labor for an individual firm.B) the demand curve for labor for an individual firm.C) the demand curve for labor for the entire market. D) the supply curve of labor for the entire market.
Q:
In the U.S., poor performers typically stay with the company and are seldom fired.
Q:
The difference between a company's assets and its liabilities, or net assets is:
A.Net income.
B.Expense.
C.Equity.
D.Revenue.
E.Net loss.
Q:
Suppose technical change permits cable television companies to provide their services at lower rates. The share-the-gains, share-the-pains theory would predict that the regulators wouldA) permit the firms to keep the savings and would lower prices only if the firms were pressured to do so.B) force the firms to pass all the savings on to consumers in the form of lower prices. C) force the firms to pass the savings on to consumers in the form of better service.D) force the firms to pass some of the savings on to consumers and to permit the firms to keep some of the savings themselves.
Q:
In Europe, external labor unions are involved in setting compensation rules for sales people.
Q:
Net income is:
A.Assets minus liabilities.
B.The excess of revenues over expenses.
C.An asset.
D.The same as revenue.
E.The excess of expenses over equity.
Q:
Which of the following is NOT subject to a network effect?
A) the layout of the keys on your keyboard
B) rotating your tires every six months
C) using a fax machine
D) purchasing a new high-definition DVD player
Q:
Separation allowances are benefits paid when an expatriate manager leaves a company.
Q:
Gross increases in equity from a company's earnings activities are:
A.Assets.
B.Revenues.
C.Liabilities.
D.Owner's Equity.
E.Expenses.
Q:
The first unit of an information product is produced at a high fixed cost. Producing additional units entails relatively lowA) total costs. B) marginal and average variable cost. C) external cost. D) social cost.
Q:
Expatriates working in high-tax countries prefer direct income instead of fringe benefits as part of their compensation package.
Q:
Resources owned or controlled by a company that are expected to yield future benefits are:
A.Assets.
B.Revenues.
C.Liabilities.
D.Owner's Equity.
E.Expenses.
Q:
Which of the following is NOT a feature of a monopolistically competitive market?A) numerous buyers and sellers B) differentiated productsC) advertising D) a homogeneous product
Q:
Expatriate managers fear that they will lose opportunities for promotion because they will be forgotten by the home office while they are working in a foreign country.
Q:
In the above figure, the total cost of producing the profit maximizing level of output is shown by rectangleA) 0P1AQ1.B) 0P5EQ5. C) 0P4HQ4. D) 0P2BQ1.
Q:
Differences in languages and culture can make mutual understanding between foreign managers and sales representatives difficult.
Q:
If equity is $300,000 and liabilities are $192,000, then assets equal:
A.$108,000.
B.$192,000.
C.$300,000.
D.$492,000.
E.$792,000.
Q:
Net Income:
A.Decreases equity.
B.Represents the amount of assets owners put into a business.
C.Equals assets minus liabilities.
D.Is the excess of revenues over expenses.
E.Represents owners' claims against assets.
Q:
In eastern European countries, compensation packages typically involve a substantially greater emphasis on performance-based incentives than in the United States.
Q:
Which of the following would tell us that resources are not flowing to their highest valued uses?A) Short-run economic profits B) Short-run economic lossesC) Long-run economic profits D) Some firms are just breaking even.
Q:
An example of an investing activity is:
A.Paying wages of employees.
B.Withdrawals by the owner.
C.Purchase of land.
D.Selling inventory.
E.Contribution from owner.
Q:
Japanese sales representatives are motivated more by the social pressure of their peers than by the prospect of making more money individually.
Q:
Refer to the above table. The table represents information on the costs for Ajax Corporation.Ajax operates in a perfectly competitive market and the price of the product is $9. What will be the value of total revenue when quantity sold equals 3?A) $27 B) $21 C) $3 D) $9
Q:
Social recognition is a more important motivating factor for an American sales representative compared to a Japanese salesperson.
Q:
The major activities of a business include:
A.Operating.
B.Financing.
C.Investing.
D.All of these.
Q:
Use the above figure. The TFC at output level 10 isA) $10. B) $3. C) $2. D) $1.
Q:
Marketing is a business function requiring high motivation regardless of the location of the practitioner.
Q:
Operating activities:
A.Are the means organizations use to pay for resources like land, buildings and equipment.
B.Involve using resources to research, develop, purchase, produce, distribute and market products and services.
C.Involve acquiring and disposing of resources that a business uses to acquire and sell its products or services.
D.Are also called asset management.
E.Are also called strategic management.
Q:
If you want to vote for the management of the corporation, you should buyA) common stock. B) preferred stock.C) bonds. D) either common stock or preferred stock.
Q:
Training for expatriates focuses on the company, its products, technical information, and selling methods, while that for local personnel focuses on customs and foreign sales problems.
Q:
Planning activities:
A.Are the means organizations use to pay for resources.
B.Involve the acquiring and disposing of resources that an organization uses to acquire and sell its products or services.
C.Involve defining the ideas, goals, and actions of an organization.
D.Are the carrying out of an organization's plans.
E.Involve using resources to research, develop, purchase, produce, and market products and services.
Q:
The most commonly accepted objective for a firm isA) to stay in business at all cost. B) to maximize total revenue.C) to maximize economic profit. D) to minimize the variable cost outlay.
Q:
In the context of international sales management, managers' cultures affect their personnel decisions.
Q:
An example of an operating activity is:
A.Paying wages.
B.Purchasing office equipment.
C.Borrowing money from a bank.
D.Selling stock.
E.Paying off a loan.
Q:
Indifference curvesA) are vertical. B) are horizontal.C) slope upward. D) slope downward.
Q:
The traits that make for successful sales representatives in the United States are the same as those that are important in other countries as well.
Q:
An example of a financing activity is:
A.Buying office supplies.
B.Obtaining a long-term loan.
C.Buying office equipment.
D.Selling inventory.
E.Buying land.
Q:
Which of the following statements is not true about marginal utility when total utility is at its maximum point?A) Marginal utility is zero.B) Marginal utility is decreasing.C) A rational consumer will not consume additional units beyond this point.D) Marginal utility is undefined.
Q:
An international salesperson can be hampered by flexibility when working in a foreign country or in the home country.
Q:
If a parcel of land that was originally purchased for $85,000 is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as easily being worth $140,000, and is sold for $137,000. At the time of the sale, assume that the seller still owed $30,000 to TrustOne Bank on the land that was purchased for $85,000. Immediately after the sale, the seller paid off the loan to TrustOne Bank. What is the effect of the sale and the payoff of the loan on the accounting equation?
A.Assets increase $52,000; owner's equity increases $22,000; liabilities decrease $30,000
B.Assets increase $52,000; owner's equity increases $30,000; liabilities decrease $30,000
C.Assets increase $22,000; owner's equity increases $52,000; liabilities decrease $30,000
D.Assets decrease $30,000; owner's equity decreases $30,000; liabilities decrease $30,000
E.Assets decrease $55,000; owner's equity decreases $55,000; liabilities decrease $30,000
Q:
Other things being equal, the longer a price change persists, A) the less is the elasticity of demand.B) the less chance a consumer will be able to adjust. C) the more the consumer will be willing to pay.D) the greater is the elasticity of demand.
Q:
Though maturity and emotional stability are essential, the transnational manager is rarely expected to have knowledge of many subjects, either on or off the job.
Q:
A goodʹs price elasticity of demand can be calculated by using the formula ofA) percentage change in price divided by percentage change in quantity demanded. B) percentage change in quantity demanded divided by percentage change in price. C) percentage change in price divided by percentage change in income.D) absolute change in quantity demanded divided by absolute change in price.
Q:
For an American company, one of the disadvantages of recruiting a U.S. home-country national for a foreign sales assignment is the cost of double taxation.
Q:
The marginal benefit from pollution abatement
A) increases as pollution abatement increases because people learn to want an even cleaner environment as the environment gets cleaner.
B) decreases as pollution abatement increases because of the law of diminishing marginal product.
C) is constant as pollution abatement increases because pollution abatement is valued for its own sake and not for the utility it provides.
D) decreases as pollution abatement increases because of the law of diminishing marginal utility.
Q:
In relationship-oriented cultures, sales representatives tend to be on the bottom rung of the social ladder.
Q:
The main disadvantage of hiring local nationals for an international sales force is the tendency of headquarters personnel to ignore their advice.
Q:
The future value of an ________________ annuity is the accumulated value of each annuity payment with interest as of the date of the final payment.
Q:
Which of the following statements about the Supplemental Security Income (SSI) program is FALSE?A) It is designed to establish nationwide minimum incomes for the aged, the blind, and the disabledB) Benefits are based on need.C) Recipients who receive benefit payments under Social Security are also eligible for SSI. D) It covers children and individuals with mental disabilities, including drug addicts and alcoholics.
Q:
Local salespeople are better able to lead a company through the maze of unfamiliar distribution systems and referral networks of a foreign country.
Q:
Refer to the above figure. The monopsonistic exploitation isA) W2-W5. B) W1-W5. C) W2-W4. D) W2-W3.
Q:
An _____________ is a series of equal payments occurring at equal intervals.
Q:
With advances in communications technologies, virtual expatriates find it easy to maintain close contact with subordinates and customers.
Q:
Which of the following types of unions did the CIO promote?A) Craft unions B) Public sector unionsC) Industrial unions D) Military unions
Q:
To calculate present value of an amount, two factors are required: __________________ and ___________________.
Q:
Since expatriates are not locals, they often have a negative effect on the prestige of the company and its product line in the eyes of foreign customers.
Q:
All of the following statements regarding the marginal revenue product (MRP) curve and the demand for labor are true EXCEPTA) an individual firmʹs demand for labor is its MRP curve.B) under conditions of perfect competition, MRP equals marginal physical product multiplied by the productʹs price.C) an increase in the market demand for a given product decreases the productʹs price. D) the demand for labor is a derived demand.
Q:
The interest rate is also called the __________________ rate.
Q:
A chief disadvantage of an expatriate sales force is the high cost for a company.
Q:
Suppose technical change makes it cheaper for cable television suppliers to supply their service.The capture theory would predict that the regulators wouldA) allow the firms to capture the savings and would lower price only if the firms asked them to.B) force the firms to pass the savings on to consumers in the form of lower prices.C) force the firms to pass the savings on to consumers in the form of better service.D) force the firms to pass some of the savings on to consumers and permit them to keep some of the savings for themselves.
Q:
_____________ is a borrower's payment to the owner of an asset for its use.
Q:
Only a limited number of American high-caliber sales personnel are willing to live abroad for extended periods of time as expatriates.
Q:
Present Value of 1 Future Value of 1 Present Value of an Annuity of 1 Future Value of an Annuity of 1 A company is setting up a sinking fund to pay off $8,654,000 in bonds that are due in 7 years. The fund will earn 7% interest, and the company intends to put away a series of equal year-end amounts for 7 years. What is the amount of the annual deposits that the company must make?
Q:
Peopleʹs willingness to buy the PC or Mac format of computer software depends on how popular the software format is among other consumers. This is an example ofA) a cartel. B) an opportunity cost.C) a network effect. D) the prisonersʹ dilemma.
Q:
For selling in relationship-oriented countries, a sales force consisting of American expatriates proves to be most efficient.
Q:
Which of the following statements is INCORRECT regarding the model for information products?A) Average total costs slope downward, because average variable cost is constant, average fixed cost slopes downward.B) The firm maximizes profit by setting the price of its product equal to marginal cost. C) Marginal cost equals average variable cost.D) In the long run, accounting profit is positive.