Balance Sheet and Assets B. Liabilities
Final Exam
1. During a recession, unemployment ________ while inflation
A. falls; falls. B. rises; falls. C. rises; rises. D. falls; rises.
2. Student A says that customer satisfaction is a mark of a world-class business. Student B says that proactive ethics is a mark of a world-class business. Which student is correct?
A. Both B. Student A only C. Neither D. Student B only
3. Which of the following represents the basic accounting equation? A. Owners ' Equity − Liabilities = Assets B. Liabilities = Assets + Owners ' Equity C. Assets = Liabilities + Owners ' Equity D. Assets + Liabilities = Owners ' Equity 4. Nearly a week before Hurricane Katrina reached New Orleans, Wal-Mart began moving trucks and supplies into position, as specified in the company 's ________ plan. A. tactical B. strategic C. contingency D. operational
5. Sole proprietorships have all of the following advantages except A. unlimited life. B. ease of liquidation. C. profits subject only to a single tax. D. ease of formation. 6. Team diversity is often established in a ________ team, by bringing together the expertise of members from various functions in the organization. A. working B. cross-functional C. self-managed D. problem-solving
7. All of the following are assets except A. inventory. B. cash. C. patents. D. bank loans.
8. If you 're developing a human resource inventory, you should exclude which of the following? A. Names B. Education C. Capabilities D. Perpetual inventory
9. The rate the Fed charges member banks for short-term loans is called the A. margin rate. B. federal funds rate. C. discount rate. D. reserve requirement.
10. _______ planning involves choosing specific work targets and assigning employees and teams to carry out plans. A. Contingency B. Operational C. Strategic D. Tactical
11. The Social Club is conducting a breakeven analysis to determine how many tickets it must sell at $15 each to break even on the Holiday Dance. Fixed costs are $2,000, and
1. During a recession, unemployment ________ while inflation
A. falls; falls. B. rises; falls. C. rises; rises. D. falls; rises.
2. Student A says that customer satisfaction is a mark of a world-class business. Student B says that proactive ethics is a mark of a world-class business. Which student is correct?
A. Both B. Student A only C. Neither D. Student B only
3. Which of the following represents the basic accounting equation? A. Owners ' Equity − Liabilities = Assets B. Liabilities = Assets + Owners ' Equity C. Assets = Liabilities + Owners ' Equity D. Assets + Liabilities = Owners ' Equity 4. Nearly a week before Hurricane Katrina reached New Orleans, Wal-Mart began moving trucks and supplies into position, as specified in the company 's ________ plan. A. tactical B. strategic C. contingency D. operational
5. Sole proprietorships have all of the following advantages except A. unlimited life. B. ease of liquidation. C. profits subject only to a single tax. D. ease of formation. 6. Team diversity is often established in a ________ team, by bringing together the expertise of members from various functions in the organization. A. working B. cross-functional C. self-managed D. problem-solving
7. All of the following are assets except A. inventory. B. cash. C. patents. D. bank loans.
8. If you 're developing a human resource inventory, you should exclude which of the following? A. Names B. Education C. Capabilities D. Perpetual inventory
9. The rate the Fed charges member banks for short-term loans is called the A. margin rate. B. federal funds rate. C. discount rate. D. reserve requirement.
10. _______ planning involves choosing specific work targets and assigning employees and teams to carry out plans. A. Contingency B. Operational C. Strategic D. Tactical
11. The Social Club is conducting a breakeven analysis to determine how many tickets it must sell at $15 each to break even on the Holiday Dance. Fixed costs are $2,000, and