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100 Cards in this Set
- Front
- Back
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The most significant difference between a joint venture and a strategic alliance is ________ |
ownership |
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Collusion refers to _______ |
Two or more companies collaborating to commit a fraudulent act |
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The leader most likely to motivate others is the ________ |
Charismatic leader |
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What accurately describes the concept of lead time? |
The period of time from order placement until goods are received |
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According to the principle of risk return,______ |
the riskier the investment, the higher the return |
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A boutique that sells only one type of merchandise would most likely use a _______ |
Free-flow layout |
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What best describes inflation? |
Widespread price increases |
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To increase employees' skills and abilities needed to accept new or future job challenges, employers may offer_______ |
Employee development |
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Authority derived from business custom or common practice is ____ |
implied authority |
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The standardized rights of buyers and sellers across all states was established through _______ |
the Uniform Commercial Code |
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Operating income is _______ |
gross profit minus operating expenses |
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Phishing or Pharming is a way to ______ |
obtain personal information illegally |
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A goal focused on increasing market share within two years is an example of an________ |
intermediate goal |
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Human resource selection tools must be |
valid and reliable |
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A securities underwriter is NOT responsible for _______ |
adjusting the share price once securities hit the secondary market |
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A PERT chart details ______ |
the sequence, time allocation, and critical path to complete a project |
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The practice of selling products overseas for less than the cost of production is commonly known as ______ |
dumping |
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In a socialist society, major sources of production are primarily controlled by_____ |
the central government |
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A SWOT analysis focuses on _______ |
both the internal and external environments |
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The Fair Labor Standards Act regulates |
pay |
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Open-book credit enables a firm to ______ |
receive goods prior to making a payment |
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The number of individuals in a population divided by the number of businesses in a population calculates the business ______ |
density |
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The most basic level of product satisfaction is the _________ |
core benefit |
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In theory, economic class struggle does not exist in what economy? |
A socialist economy |
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Flood mitigation is an example of _____ |
risk control |
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The Myers-Briggs Type Indicator is commonly used to measure_________ |
personality traits |
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During a strike, labor unions can NOT initiate what legal activity? |
a lock out |
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Per capita means _________ |
for each person |
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What describes a company's value proposition? |
The total benefits customers receive from the products and/or services |
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The ISO 9000 label attests to ________ |
high quality management standards |
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Typically, the difference between the manager of a small business and an entrepreneur is that the small business manager _________ |
manages stability and business maturity |
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The promotional mix does NOT include_______ |
placement |
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When an insurance company identifies a claim, it essentially______ |
reimburses the insured for the amount of the claim |
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When the value of a country's currency declines, the demand for its products likely ______ |
increases |
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What manager is responsible for getting products from producers to consumers? |
Marketing manager |
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Human knowledge, work methods, and physical equipment are factors in the _________ |
technological business environment |
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Government exercises fiscal policies in order to________ |
manage the collection and spending of it's revenues |
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Cognitive dissonance happens during what part of the consumer purchasing process? |
Post purchase evaluation |
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The speed with which accounts convert to sales are measured in _______ |
activity ratios |
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One advantage of product-distribution franchising versus business-format franchising for the franchisee is __________ |
more autonomy |
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The current trading price of a stock is considered its________ |
market value |
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Nonexempt status impacts__________ |
overtime pay |
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To equalize prices in various countries with different currencies, which principle is applied? |
Purchasing power parity |
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Inventory shrinkage refers to _________ |
the loss of goods due to theft or spoilage |
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Credit card transactions are included in what measure of the money supply? |
They are not included in measuring money supply |
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Speculative risk evaluates the __________ |
possibility of gain or loss |
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Distributive bargaining differs from integrative bargaining in that it ___________ |
creates a Win - Lose situation |
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A business failure occurs when a business ________ |
closes with financial loss to a creditor |
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The successor to the General Agreement on Tariffs and Trade (GATT) is the _____________ |
World Trade Organization (WTO) |
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Advocates of deregulation argue that it would_____ |
increase competition |
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A disadvantage of a general partnership versus a limited partnership is ___________ |
all members can be held personally liable |
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Which individual would likely have a stronger locus of control? |
An entrepreneur |
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Organizational citizenship does NOT necessarily affect______ |
the bottom line |
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A union shop employs __________ |
nonunion workers for a specified period of time |
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A retailer's claim to match any competitor's price is an example of ____________ |
constant promotional pricing |
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What is NOT traded in the secondary securities market? |
Mutual funds |
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A profit and loss statement is also known as ______ |
an income statement |
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Under Chapter 11 bankruptcy, creditors can expect________ |
partial payment of monies due |
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In international trade, documentary collection or drafts, ensures the seller that___________ |
a title to sell a good will not be granted until payment has been received |
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A public claims adjuster represents_______ |
the policy holder |
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A proxy fight is a strategy used during a _____ |
hostile takeover |
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What characterizes an organic organization? |
Diversified and adaptable duties |
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What is NOT a performance appraisal method |
Holland's RIASEC |
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A licensed brand__________ |
is purchased from the original producer for use by a third party seller |
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In banking, the term "float" refers to_________ |
checks that have not yet been cleared by a Federal Reserve Bank |
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Off-shoring has a negative affect on ___________ |
the gross domestic product |
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In retail, the Pareto Rule of 80-20 means_______ |
80 percent of revenue will come from 20 percent of inventory |
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To classify the level of economic well-being of a nation, the World Bank divides nations based on ______________ |
average income per capita |
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A process flowchart is used for_____________ |
methods planning |
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Which economic system seeks to eliminate class struggle |
Socialist |
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A grid layout would be most effective in a _______ |
supermarket |
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A wildcat strike________ |
is unauthorized by the union |
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The net profit margin measures income________ |
after both expenses and taxes have been paid |
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Computer-aided design, or CAD, enables______ |
electronic prototypes to be created in three dimensional graphics |
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An outcome of changes in the global economy in the late 1990s and the early 21st century is that______ |
the economy is now driven by small entrepreneurial firms |
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The owner of a limited-liability company is called the __________ |
member |
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The sales conversion index is helpful in determining the ____________ |
best location for retail operations |
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Which form is used for federal income tax withholding? |
Form W-4 |
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An example of direct foreign investment is _____ |
opening a physical operation abroad |
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Strategic workforce planning is the role of _______ |
human resources |
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No-load funds eliminate______ |
sales commission |
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Competition is a necessary feature of _________ |
private enterprise |
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A closely-held corporation __________ |
does not trade its stock publicly |
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The opposite of niche marketing is _________ |
mass marketing
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The "top line" represents____________ |
total revenue |
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Job rotation is a common means of ________ |
training/development |
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The Information Age has significantly increased the need for __________ |
knowledge workers |
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The business structure of a credit union is a ______ |
cooperative
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In-store displays, contests, and trade shows are examples of_________ |
Sales promotions |
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Pro-forma financial statements ________ |
project future financial conditions |
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The equilibrium price is the price at which_____ |
profits are maximized |
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A merit salary system evaluates___________ |
individual performance levels
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The media mix does NOT include ___________ |
retailing |
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Continuous improvement is synonymous with ______ |
quality manangement |
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A "learning organization" is one that __________ |
has the capacity to continuously adapt and change |
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What describes a linked exchange rate? |
It equalizes two or more specific currencies |
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What best describes the Small Business Administration's function? |
It guarantees loans on behalf of small businesses |
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Employee handbooks, vacation schedules, and training manuals would most likely be posted on _______ |
an Intranet site |
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To finance public systems, such as transportation or education, a government issues_______ |
municipal bonds |
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Turning corporate units into independent corporations is called______ |
spin off |
