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Business Communication
Q:
Evelyn Jones who works for Lobo Events, an event management company, is preparing a document on the problems faced while hosting events and revenue generated. In the report, she explains unavailability of venues for events around season time and steep charges by music bands as challenges faced by them. In addition, she explains the company's performance and that it generated revenue of $25, 00,000 in the last three months. Which of the following documents is Evelyn preparing?
A. Letter of transmittal
B. Performance appraisal
C. Quarterly report
D. Formative assessment
E. Summative assessment
Q:
Ella, a human resource manager, has written a report for the organizational director on staffing needs of the company. Along with the report, she also sends a memo explaining why the document is being forwarded to him. What is this accompanying document called?
A. Monthly Report
B. Memo of Congratulations
C. Quarter Report
D. Transmittal
E. Policy and procedure bulletin
Q:
Natalia who works for Trends, a fashion house, needs to give a presentation to her superiors on the marketing plan for the newly launched, Vogue line of clothing. Once she receives an approval on it, she will be sharing details of the launch with distributors, clients, and fashion houses with which they have tie-ups. In addition, she will also be presenting the plan to the press to spread word about the line. Which among the following is Natalia's internal audience?
A. Other Fashion Houses
B. Clients
C. Superiors
D. Distributors
E. Press
Q:
Pete Riley works at Rowland Bank in California. He recently gave a presentation on "Benefits of Investing in Unit Link Plans" to the subordinates in his team, the sales team, and the marketing team. He also showed the presentation to the superiors before making a few changes and presenting it to his customers. Which of the following comprises Pete's external audience?
A. Sales Team
B. Marketing Team
C. Superiors
D. Customers
E. Subordinates
Q:
An example of an external audience is a _____.
A. human resource team
B. subordinate
C. supervisor and manager
D. colleague
E. potential employee
Q:
Which of the following is an example of an internal audience?
A. Suppliers
B. Stockholders
C. Clients
D. Funders
E. Peers
Q:
According to the survey conducted by the National Commission on Writing, _____ is considered to be a writing ability which all employees must know.
A. technical writing
B. blogging
C. instant messaging
D. e-mailing
E. tweeting
Q:
An example of an interpersonal nonverbal signal of authority would be a company executive:
A. sitting at the head of a conference table at a board meeting.
B. speaking on behalf of the company at a community event.
C. writing a progress report on a campaign activity.
D. sending out an e-mail announcing a new policy.
E. presenting a report on a project recently completed.
Q:
_____ are a type of nonverbal communication.
A. Pictures
B. Presentations
C. Electronic Mails
D. Memos
E. Informal Meetings
Q:
Loretta recently gave a presentation on "Over-consumerism and its Impacts" at the University of Phoenix in California. The presentation was a huge success mainly because it used a lot of nonverbal communication which drew the audience's attention and made the presentation interesting. Which of the following did Loretta most likely use?
A. Anecdotes
B. Narrations
C. Quotations
D. Photographs
E. Chestnuts
Q:
Which of the following is an example of verbal communication?
A. Logos
B. Gestures
C. Eye contact
D. Pictures
E. Tweets
Q:
While receiving feedback on a message, it is important not just to know if a message succeeded or failed but also knowing the reason behind it.
Q:
It is important to use me-attitude while creating a document which shows confidence in one's piece of writing.
Q:
Using long paragraphs of more than eight lines makes a document more visually appealing.
Q:
It is vital to use experiences and common sense to understand how the real world affects a particular issue or problem while creating a message.
Q:
While writing a message, it is important to ensure that benefits are adapted to the needs of the audience.
Q:
Reasons for a decision and audience benefits in a message are always financial in nature.
Q:
The best way to place information without emphasizing it is to put it in the middle of a paragraph.
Q:
It is important to list all purposes of a message, including major and minor ones.
Q:
All characteristics of an audience are important and one should avoid eliminating some which may seem irrelevant.
Q:
In order to solve a problem, it is essential to develop several solutions and measure them against the audience and purposes.
Q:
How detailed a message should be depends on the kind of message, purposes, audiences, and the corporate culture.
Q:
Oral channels are better for group decision making, and allow misunderstandings to be cleared up more quickly.
Q:
Electronic mail systems are a more formal mode of communication than presentations.
Q:
A message will be more successful if the writer focuses on his own needs instead of the larger context of shareholders, customers, and regulators.
Q:
It is mandatory to follow the same, standard conventions in all organizations across the world.
Q:
Conventions are constant and remain unchanged over time.
Q:
Conventions in business communication help people recognize, produce, and interpret different kinds of communications.
Q:
A message meets the five criteria of a good business communication irrespective of the audience, the purpose of the message, and the situation.
Q:
Good communication treats the receiver of a document as a person, instead of as a number.
Q:
Good business and administrative communication are created as quickly as possible which helps save a writer's time.
Q:
Good communication helps in making efforts more effective.
Q:
Individual communications are not liable to any legal hassles like communication by organizations.
Q:
While preparing a document, it is recommended that the main point be placed in the middle of a long first paragraph which prevents a reader from skipping information.
Q:
It is best to use a legalistic style of writing which helps create a good document.
Q:
The purpose of all accounting is to provide internal and external decision makers with the financial data they need to make their decisions.
Q:
Poor messages make an audience guess what a writer wants to convey.
Q:
How could an IC benefit from leading and lagging?
Q:
Is triple-bottom-line accounting a reasonable approach to encourage businesses to take responsibility for the impact of their actions on social and environmental systems, or does it place an unrealistic burden on businesses to measure what may not be measurable?
Q:
Poor writing may need to be rewritten and frequently cycled to other people for help.
Q:
Discuss the concerns conducting business in a foreign currency raises from an accounting perspective.
Q:
How quickly a document can be read is determined by the difficulty of the subject matter and by the document's organization and writing style.
Q:
Discuss how culture might impact accounting.
Culture influences the underlying assumptions on which an accounting system (a system that measures stored value) is built. The text stresses two cultural dimensions that have been used in research on the impact of culture on accounting, openness (transparency to secrecy) and optimism to conservatism. All of the dimensions covered in Chapter 4 could also be applied to accounting. For example, in a culture that assumes people are basically good, the controls provided will be looser, whereas in a culture that assumes people have to be disciplined and monitored, controls will be tighter. One might wonder what the movement from the prescriptive, rule-based FASB to the broader, more principles-based IASB might indicate.
Q:
The cost of hardware in e-mail storage is much higher compared to the cost in administering and maintaining archives.
Q:
Discuss the risks associated with transaction exposure and how to hedge them.
The risk that transaction exposure describes is a movement in the foreign exchange market against the firm. First are the centralized ways of meeting transaction exposure. Leading and lagging is one approach, and exposure netting is another. Hedges and swaps also offer protection on transaction exposure. A forward market hedge involves selling the firm's foreign currency receivables forward for its home currency, matching time forward to the due date of the receivable. A currency option hedge allows the company to choose to exercise the option, and so allows it to benefit from currency markets shifts in its favor. Money market hedges are another approach to hedging. They match the balance sheet asset with a liability in the same currency. Swap contracts are also used to hedge transaction exposure.
Feedback: Each of these points can be further developed with a definition.
Q:
Oral communication is always for internal audiences in an organization whereas written communication is strictly created for external audiences.
Q:
Financial statements in Germany and the United States are:
A. vastly different.
B. exactly the same, allowing for comparisons.
C. the same in all areas except for the income statement.
D. the same in only the income statement; they are different in all other areas.
Q:
Entry-level jobs in contrast with senior-level jobs do not require skills in reasoning, mathematics, and communicating.
Q:
Part of the problems with international accounting convergence efforts has to do with:
A. cultural differences in value systems between the EU and the United States.
B. stubbornness on the part of U.S. negotiators.
C. accounting's objectivity.
D. difficulties related to quantification.
Q:
Interpersonal nonverbal communication consists of e-mail messages, memos, and letters.
Q:
Economic exposure occurs at the operations level and results from:
A. poor decision making in foreign markets.
B. higher tax rates in foreign operations.
C. risks incurred during foreign transactions.
D. exchange rate changes on projected cash flows.
Q:
What is a controlled foreign corporation?
A. A foreign company with one major stockholder in a foreign country
B. A subsidiary with the parent company having at least 50 percent ownership and control
C. An FDI in which foreign owners own the corporation fully
D. A centralized structure for foreign ownership
Q:
Tax liability on foreign earnings is controlled by:
A. the tax treaties in place between the two relevant countries.
B. the tax rates in the local jurisdictions.
C. how the foreign operations of a company are organized.
D. negotiations between the company and the host country.
Q:
Unless a product or service is purchased from a company that is registered to the appropriate ISO 9000 standard, a buyer cannot be assured that the quality of what was received will be what was expected.
Q:
Standards are documented agreements containing general guidelines, rules, or definitions of the characteristics of a product, process, or service.
Q:
Packaging and transportation requirements for a product can significantly influence logistics costs, and these factors should be addressed during the postdesign steps in a company's value chain.
Q:
The effectiveness of supply chain management efforts is strongly influenced by how a company manages the interface of logistics with sourcing and manufacturing.
Q:
Logistics refers to managerial functions associated with the movement of raw materials and work in progress, but not finished goods.
Q:
Although international firms maintain manufacturing facilities in countries at various levels of development, manufacturing systems should not vary significantly within the same company.
Q:
The traditional functions of purchasing, such as supplier determination, analysis, and selection, have to be accomplished before the actual purchasing via e-procurement.
Q:
To avoid an increase in price because the U.S. dollar has lost value versus the euro, an American importer should require European exporters to quote their products in euros.
Q:
International freight, insurance, and packing can add as much as 8 to 10 percent to the quoted price, depending on the sales term used.
Q:
For purchases of capital goods such as manufacturing equipment, many U.S. buying organizations now use "business-cycle costing" to analyze purchasing decisions.
Q:
Emerging industry-based B2B exchanges can help optimize the supply chain across an entire network of organizations, not merely within a single company.
Q:
What is an export license?
A. Permission from the U.S. government to export
B. An international quality performance rating
C. A shipping qualification
D. Permission from the top management team to export
E. Permission to transfer domestic currency abroad
Q:
"Comparing the total cost of ocean freight versus air freight, air freight may be cheaper." What components are considered when making the previous statement?
A. Insurance rates
B. Packing
C. Replacement cost of damaged goods
D. Inventory cost
E. All of the above
Q:
Collection documents vary from country to country. The most common types of collection documents that the seller provides to the buyer include all of the following except:
A. commercial invoices.
B. consular invoices.
C. income statements.
D. certificates of origin.
Q:
The premiums charged by marine insurance companies on an international transaction depend on:
A. the age of the ship.
B. whether the goods are stowed on deck or under deck.
C. the volume of business.
D. how the good are packed.
E. all of the above.
Q:
The kinds of marine insurance policies include:
A. basic named perils.
B. broad named perils.
C. partial risk.
D. all risk.
E. A, B, and D.
Q:
An export bill of lading serves as:
A. a contract for carriage between the shipper and the carrier.
B. a receipt from the carrier for the goods shipped.
C. a certificate of ownership.
D. a receipt for the IRS.
E. A, B, and C.
Q:
A shipper's export declaration (SED) includes:
A. names and addresses of the shipper and consignee.
B. U.S. port of exit and foreign port of unloading.
C. export license number and bill-of-lading number.
D. description and value of the goods.
E. all of the above.
Q:
Foreign trade zones are also called:
A. free trade zones.
B. transit zones.
C. free perimeters.
D. export processing zones.
E. all of the above.
Q:
The U.S. Export-Import Bank (Ex-Im Bank) offers the following:
A. export credit insurance.
B. guarantees.
C. direct and intermediary loans.
D. Working Capital Guarantee.
E. all of the above.
Q:
Which of the following is the most risky for an importer?
A. Open account
B. Irrevocable letter of credit
C. Bank collection time draft
D. Cash in Advance
E. None of the above
Q:
Freight forwarders' responsibilities may include all of the following except:
A. booking space on a ship.
B. preparing the export documents.
C. verifying that the seller has money in the bank.
D. arranging to have the merchandise delivered to the port.
E. D and C.
Q:
A business established for the purpose of marketing goods and services, not producing them, is:
A. a franchisee.
B. a direct exporter.
C. a sales company.
D. a joint venture.
E. two of the above.
Q:
The disadvantages of indirect exporting include:
A. foreign business can be lost if the exporter changes supply sources.
B. no expertise or large cash outlays are required.
C. the firm gains little experience from transactions.
D. two of the above.
E. all of A, B, and C.
Q:
The disadvantages of indirect exporting include:
A. firms gain little experience from the transaction.
B. commissions have to be paid to agents.
C. firms are dependent on the agents.
D. all of the above.
E. two of A, B, and C.
Q:
A company can engage in indirect exporting by using which of the following companies in its own country?
A. Manufacturers' export agents
B. Export merchants
C. Sales offices
D. All of the above
E. Two of A, B, and C
Q:
A company can engage in indirect exporting by using which of the following companies in its own country?
A. Import merchants
B. Sales companies
C. Export commission agents
D. Overseas merchants
E. Two of the above