The accounting equation is

Assignment Help Microeconomics
Reference no: EM13893691

Question 1

_____ refers to a firm's shared values, beliefs, traditions, philosophies, rules, and role models for behavior.


A) organizational culture

B) organizational structure

C) centralization

D) Organizational chart

Question 2

_____ is the division of labor into small, specific tasks and the assignment of employees to do a single task.


A) Outsourcing

B) Centralization

C) Specialization

D) Delegation

Question 3

A company that has departments for marketing, finance, personnel, and production is organized by:


A) project

B) function

C) Territory

D) customer

Question 4

Which of the following concepts deals with giving employees the power to make commitments and use resources to accomplish the assigned tasks?

A) Delegation of authority

B) Accountability

C) Departmentalization

D) Specialization


Question 5

_____ is usually preferred when the decisions of a company are very risky and low-level managers lack decision-making skills.

A) Decentralization

B) Delegation of authority

C) Employee empowerment

D) Centralization

Question 6

What motivates employees to perform on the job is the focus of ____, which is the study of the behavior of individuals and groups in organizational settings.

A) work ethics

B) organizational structure

C) human resources

D) business strategies

Question 7

An inner drive that directs a person's behavior toward goals is called ____.

A) a need

B) a reward

C) morale

D) motivation

Question 8

Which of the following is labeled the Hawthorne effect?


A) Productivity decreased regardless of supervision

B) Productivity increased as pay increased

C) Productivity increased regardless of physical conditions

D) Productivity decreased as work hours increased

Question 9

According to Maslow's hierarchy of needs, which of the following needs do people strive to satisfy first?


A) Physiological

B) Security

C) Social

D) Self-actualization


Question 10

Anand believes that he can get extra work done by his subordinates by close supervision. He also instills fear on a bonus being refused if deadlines are not met. Anand could be described as:


A) a Theory X manager, according to McGregor.

B) a manager who focuses on the hygiene factors proposed by Herzberg.

C) a Theory Z manager, according to Ouchi.

D) a Theory Y manager, according to McGregor.

Question 11

Theory Z of employee motivation includes many elements associated with the _____ approach to management.


A) American

B) German

C) Chinese

D) Japanese

Question 12

Which of the following adds tasks to a job instead of treating each task as a separate job?


A) Job rotation

B) Job enrichment

C) Job enlargement

D) Job design

Question 13

A human resources manager deciding how many new employees an organization will need to fill vacant positions in the near future is engaging in the activity of ____.


A) training

B) compensating

C) recruiting

D) planning

Question 14

An overview of a job's title, tasks, relationships with other jobs, the physical and mental skills required, duties, responsibilities, and working conditions is referred to as the:


A) job appraisal.

B) job description

C) job specification

D) job portfolio

Question 15

The _____ is a federal agency established by the Civil Rights Act of 1964 and dedicated to increasing job opportunities for women and minorities and eliminating job discrimination based on race, religion, color, sex, national origin, or handicap.


A) United States Commission on Civil Rights

B) Equal Employment Opportunity Commission

C) Pension Benefit Guaranty Corporation

D) National Center for Civil and Human Rights

Question 16

If a company pays its workers additional compensation at the end of the year as a "thank you" for good work, this monetary reward would most likely be categorized as:


A) a bonus.

B) a benefit

C) commission.

D) a salary.


Question 17

Which of the following forms of compensation is NOT a benefit?


A) Health insurance

B) Pension plans

C) Paid vacation



Question 18

_____ is the only business function that is directly responsible for creating sales and revenue.




Question 19

_____ is the goal of the marketing concept

Question 19

A) Product orientation

B) Customer satisfaction

C) Sales orientation

D) Productivity boosting

Question 20

Ferava Inc. is a company that markets its products-luxury wristwatches-exclusively to high-income individuals and celebrities. Thus, high-income individuals and celebrities are most likely Ferava Inc.'s

Question 20

A) market segment

B) target market

C) reference group

control group


Question 21

In _____ marketing, all marketing efforts are on one small, narrow, well-defined market segment that has a unique, specific set of needs.


A) differentiated

B) niche

C) mass

D)  multisegment


Question 22

Which of the following is a basis for the psychographic segmentation of markets?


A)  Gender

B) Education

C) Income

D) Lifestyle

Question 23

Gear Power Inc., an automobile company, manufactures different cars for different market segments. It markets SUVs for customers who live in the mountains, sedans for customers in the coastal plains, and smaller hatchback cars for those in big cities. In this scenario, Gear Power Inc. is primarily using _____ variables of market segmentation.



B) demographic

C) psychographic

D) ethnographic

Question 24

Which of the following is NOT one of the four marketing activities of the marketing mix?


A) Profit

B) Price

C) Promotion

D) Product

Question 25

The case study about New Belgium Brewery highlighted that most of the brewery's processes were automated EXCEPT:


A) the fermentation process

B) water processing and sustainability

C) Packaging and bottling

D) the ESOP

Question 26

One of the major threats to the Colorado based New Belgium Brewery in the SWOT analysis include


A) Rocky Mountain Fever

B) Employee unionization

C) pot

D) water shortages

Question 27

Market segmentation by genre and demographics in the music business is often used by businesses to


A) Target their markets and advertising dollars

B) Waste money on advertising

C) To choose customers' radio stations

D) Spend more on advertising

Question 28

The Container Store video case featured employees who enjoyed their jobs and were likely to stay with the Container Store long periods of time. The Container Store accomplished this feat by offering


A) Free Food

B) Long breaks

C) 2 weeks of training

D) Employee discounts of 50%

Question 29

Carvana, the new online used car business that recently opened a new delivery method for customers in Nashville, TN is considered a _______in the business world

Random operator
Marketing ploy
Industrial mess

Question 30

A customer's subjective assessment of benefits relative to costs in the worth of a product is called

Cost of the product
consumer orientation

Question 31

A plan of action for developing and pricing, distributing and promoting products is referred to as a


A) Tactical plan

B) Marketing strategy

C) Business Plan

D) Travel plan

Question 32

A narrow market segment focus, where efforts are on one smalll, well-defined group with a unique, specific set of needs is called a


A) Target market

B) Discount market4

C) Super Market

D) Niche market

Question 33

In market research, data that is observed, recorded or collected directly from consumers is called _____data.


A) Strategic data

B) Secondary

C) Primary data

D) Nielson Data

Question 34

Groups with whom buyers identify with or whose attitudes and values are similar are called


A) Reference groups

B) Social classes

C) Perceptual relations

D) culture clashes

Question 35

A trial minilaunch of a product or service in a limited area that is representative of a larger, similar area is called


A) Test Marketing

B) Idea generation

C) Cosumer try-outs

D) Product Development

Question 36

In the Growth stage of the Product Life Cycle, consumer awareness and acceptance of the product is


A) Zero

B) Limited

C) Somewhat high

D) Maximized

Question 37

In the maturity stage of the Product Life Cycle, the sales curve ____ and profits ______.


A) declines, peaks

B) peaks, declines

C) climb moderately, climb high

D) fall rapidly, decline

Question 38

This type of pricing strategy includes pricing a product at the highest possible price that buyers are willing to pay.


A) Penetration

B) Reference

C) Skimming

D) Psychological

Question 39

Supply chain management is concerned with


A) Selling to wholesalers

B) Creating alliances with distribution channel intermediaries and channel members

C) Retail operations

D) Building fences

Question 40

______ is the design and operation of facilities to receive, store, and ship products.


A) Warehousing

B) Transportation

C) Wholesaling

D) Retailing

Question 41

A paid form of nonpersonal communication sent through mass media is called


A) Advertising

B) Driving

C) Promotion

D) Personal selling

Question 42

Publicity is a nonpersonal communication transmitted through mass media but it differs from advertising because


A) It is not paid for

B) it is only in magazines

C) people don't object to it

D) is peron to person

Question 43

If a consumer writes a letter to a breakfast cereal manufacturer and requests that it change its packaging to a resealable bag, this is called a _____ strategy to create consumer demand.


A) push strategy

B) pull strategy

C) Publicity

D) economic

Question 44

Service quality is judged by _______, not the service providers


A) stockholders

B) managers

C) consumers

D) supervisors

Question 45

The Accounting Equation is


A) Income-Expenses=Profit

B) Owners Equity-Liabilities=Assets

C) Revenue x taxes= Equity

D) Assets=Liabilities+Owners Equity

A financial report that shows an organization's profits over a period of time.

A) Accounts Receivable

B) Income Statement

C) Balance Sheet

D) Accounts Payable

Question 47

The amount of money a firm spends to buy or produce the goods it sales is called


A) Interest Expense

B) Earnings per share

C) Gross profit

D) Cost of Goods sold

Question 48

One of the most important statements for small business owners with limited capital and frequent changes in cash flow is


A) The Balance Sheet

B) The Income Statement

C) Santa's list of who has been naughty or nice

D) The Statement of Cash Flows

Question 49

The 4 P's of Marketing include product, price, promotion and place. Place refers to ______.

A) Distribution

B) Visions of sugar plums

C) Getting a lump of coal from Santa

D) the North Pole

Question 50

The first self service grocery store that necessitated colorful, informational packaging and advertising of products was

A) Piggly Wiggly

B) Kroger

C) Publix

D) Santa's Workshop and Peppermint Grocery Store



Reference no: EM13893691

Questions Cloud

Problem of size differences among firms : What is a ratio? How do ratios help alleviate the problem of size differences among firms? What do liquidity, long-term borrowing capacity, and profitability ratios measure? Name a group of users who might be interested in each category, and the r..
Prepare an income statement for may, a statement : Holden Graham started The Graham Co., a new business that began operations on May 1. The Graham Co. completed the following transactions during its first month of operations.
Schools of thought on interim reporting : There are two schools of thought on interim reporting. The discrete view holds the interim report as a segment in history that stands on its own.
When assessing our current trends as humans : When assessing our current trends as humans and our impact on our planet, what do you think about proposing the reduction of plastics?
The accounting equation is : The Accounting Equation is
What are your thoughts regarding harvesting cells : What are your thoughts regarding harvesting cells as far as a necessity in saving lives? I admire your insight, so I ask "do you think it is morally wrong not too?". Pros should certainly trump cons provided there are restrictions.
Management accountants statement of ethical professional : Explain how the Institute of Management Accountants Statement of Ethical Professional Practice is related to moral philosophy, ethics, and character. How does this Statement serve as a "moral compass" to accountants?
Why viruses are different than true living microorganisms : Viruses are typically not classified as true living organisms by biologists. Viruses have DNA or RNA and protein but are not able to replicate until they infect a host cell. Within the cell they must use the enzymes and molecular building blocks t..
Do you agree or disagree with neustadt : In other words, according to Neustadt, it is not Congress that has most legislative powers, but the president and Congress both share equally in the lawmaking process. Do you agree or disagree with Neustadt


Write a Review


Microeconomics Questions & Answers

  Categorize each of the following as employed unemployed or

classify each of the following as employed unemployed or not in the labor force.a. beth is not working she applied

  Ethical issues that impact the company''s decisions

Ethical issues that impact the company's decisions.

  Describe first mover advantage and the six modes of entry

explain the first mover advantage and the six modes of entry into foreign markets. identify a foreign market that you

  Consider a consumer with preferences over newspapers

Consider a consumer with preferences over newspapers (x) and books (y) that can be represented by the quasilinear utility function u(x,y)=x+2sqrt(y)

  Supply of diamonds

Suppose there is a simultaneous increase in the demand for diamonds and increase in the supply of diamonds. Which of the following will occur as a result of these simultaneous events?

  Solve for the optimal y

Solve for the optimal y Max U = E(rc)- ½ Aσc2 = rf + y[E(rp)-rf] - ½ Ay2 σp2

  Survey equipment is very expensive and become obsoletes

Survey equipment is very expensive and become obsoletes and needs to be replaced every 5 years. Consider a new GPS system consisting of a base station ($18,968 today's cost), a rover ($7665 today's cost), and software ($3833 today's cost).

  What incentives do pharmaceutical companies

What incentives do pharmaceutical companies have to undertake R&D in medicines for treating AIDS? Malaria? Erectile dysfunction? What can policymakers do about this?

  What do you mean by pattern review under managed care why

what is meant by pattern review under managed care? why do payers conduct pattern review and what kinds of things might

  Construct a budget line for having a family

Indifference theory can explain all rational choices and behavior and try the theoryout on this situation. Suppose the only consideration for couples to have a bby or not was money. If a baby costs $8,000 a year.

  Variable cost of production when the firm produces

What is the variable cost of production when the firm produces 115 lanterns and What is the average total cost of production when the firm produces 120 lanterns?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd