Question-1
The three essential managerial skills include:
| technical, human, and empirical. |
| human, empirical, and conceptual. |
| technical, interpersonal, and controlling. |
| technical, human, and conceptual. |
Question-2
A(n)________ is the existence of a discrepancy between an existing and a desired state of affairs.
| opportunity |
| solution |
| weakness |
| problem |
Question-3
The quantitative approach involves applications of:
| statistics, information models, and computer simulations. |
| psychology testing, focus groups, and mathematics. |
| optimization models, interviews, and questionnaires. |
| surveys, strategic planning, and group problem solving. |
Question-4
Ethics training sessions can provide what benefit?
| They clarify acceptable and unacceptable practices. |
| They create ego strength in employees. |
| They evaluate decisions and management practices in terms of the code of ethics. |
| They strengthen the employees' locus of control. |
Question-5
Planning is often called the primary management function because it:
| offers some basis for future decision making. |
| creates the vision for the organizational members to work toward. |
| establishes the basis for all the other functions. |
| sets the tone for the organizational culture. |
Question-6
__________ teams tend to be more task-oriented especially if the team members have never personally met.
| Cross-functional |
| Problem-solving |
| Self-managed |
| Virtual |
Question-7
A theory that suggests that employees compare their inputs and outcomes from a job to the ratio of input to outcomes of relevant others is known as:
| action motivation. |
| goal setting. |
| reinforcement theory. |
| equity theory. |
Question-8
How would a manager motivate low-skilled, minimum-wage employees?
| Offer more pay for high levels of performance |
| Use employee recognition programs |
| Provide the opportunity for training |
| Provide the opportunity for full-time employment |
Question-9
Managers can't really know whether their work units are working properly until they've evaluated what activities have been done:
| with those who remain. |
| and have compared actual performance to a desired standard. |
| and evaluate the performance of each of their employees. |
| successfully. |
Question-10
The prevalent thinking today is that:
| organizations must make everyone fit a common corporate mold. |
| organizations should support, nurture, and utilize people's differences in a way that respects employees' unique perspectives and promotes a shared vision. |
| employees have a single identity. |
| All of the above. |
Question-11
When a company calculates __________, the company looks at how much profit it expects to make from a particular customer, including each purchase he or she will make from the company now and in the future.
| customer lifetime value |
| customer relationship management |
| utility |
| the exchange function |
Question-12
By definition, a(n) __________ is a community, nation, or group that shares common traditions, institutions, activities, and interests.
| market |
| society |
| environment |
| marketplace |
Question-13
It is easiest for marketers to create an emotional connection between a consumer and a(n) __________ product.
| approach |
| augmented |
| core |
| avoidance |
Question-14
Information collected from government publications is an example of __________ data.
| primary |
| secondary |
| observational |
| experimental |
Question-15
A __________ is a promise to deliver specific benefits associated with products or services to consumers.
| service |
| brand |
| license |
| patent |
Question-16
Which type of segmentation is MOST related to the use of the word when, such as when consumers get the idea to buy, when they actually make their purchase, or when they use the purchased item?
| Behavioral |
| Psychographic |
| Needs |
| Impulse |
Question-17
Multisegment marketing is likely to __________ and __________.
| increase research costs; decrease shipping costs |
| decrease resale value; increase sales volume |
| increase sales potential; increase costs |
| increase sales potential, decrease costs |
Question-18
Demand would MOST likely be inelastic for which of the following?
| Lamb chops and T-bone steaks |
| Gourmet cheese |
| Basic necessities |
| Luxury watches |
Question-19
Financial services provider USAA sends materials about teaching teenagers how to drive safely to USAA customers who have children approaching driving eligibility age. USAA is using __________ information from a customer database to determine which customers should receive the materials.
| demographic |
| geographic |
| psychographic |
| behavioral |
Question-20
Some television shows have shown actors drinking a cup of Starbucks coffee. In these instances, Starbucks has chosen __________ as a marketing tool.
| networking |
| direct marketing |
| broadcast advertising |
| branded entertainment |
Question-21
Which of the following are a manager's three primary responsibilities?
| Planning, Directing, Controlling |
| Budgeting, Planning, Controlling |
| Budgeting, Directing, Controlling |
| Budgeting, Planning, Directing |
Question-22
All of the following are ethical principles identified in the IMA's Statement of Ethical Professional Practice except:
| honesty. |
| teamwork. |
| objectivity. |
| responsibility. |
Question-23
Which of the following companies would use a job costing system?
| Health care provider |
| Crayon manufacturing company |
| Potato chip manufacturing corporation |
| Spring water bottling company |
Question-24
When selecting a manufacturing overhead allocation base, managers should select the:
| number of products produced. |
| activity-based products. |
| cost driver of those manufacturing overhead costs. |
| same number used in prior years. |
Question-25
Conversion costs include:
| direct labor and manufacturing overhead. |
| manufacturing overhead only. |
| direct materials and direct labor. |
| direct materials and manufacturing overhead. |
Question-26
If the sales price is $20 per unit, the variable cost is $12 per unit, total fixed costs are $12,000, and 15,000 units are produced, the contribution margin per unit is:
| 20 |
| 9 |
| 12 |
| 8 |
Question-27
Which of the following budgets is the comprehensive planning document for the entire organization?
| Sales budget |
| Capital expenditure budget |
| Master budget |
| Budgeting income statement |
Question-28
Which of the following is a true statement regarding fixed overhead volume variance?
| If production volume is less than anticipated, then fixed overhead has been under allocated and the fixed overhead volume variance is favorable. |
| If production volume is less than anticipated, then fixed overhead has been under allocated and the fixed overhead volume variance is unfavorable. |
| If production volume is greater than anticipated, then fixed overhead has been under allocated and the fixed overhead volume variance is favorable. |
| If production volume is greater than anticipated, then fixed overhead has been over allocated and the fixed overhead volume variance is unfavorable. |
Question-29
Which of the following is a cash equivalent?
| Accounts receivable |
| Certificates of deposit that mature in less than three months |
| Certificates of deposit that mature in one year or less |
| Prepaid expenses |
Question-30
All of the following are business reasons for adopting environmentally sustainable practices except:
| cost reduction. |
| competitive strategy. |
| stakeholder influence. |
| historical orientation of accounting. |
Question-31
The science of ________ was developed by applying general concepts to a particular situation, person, or group.
| Organizational Behavior |
| Anthropology |
| Psychology |
| Sociology |
Question-32
Organizational behavior is a field of study that investigates the impact the individuals, groups, and structure have on behavior within organizations, for the purpose of applying such knowledge toward improving:
| an organization's effectiveness. |
| an organization's social responsibilities. |
| the manager's pay. |
| the quality of the firm's products. |
Question-33
Which of the following is an example of an affective attitude?
| Believing that you did a good job |
| The observation that most dogs have four legs |
| The opinion that it is never acceptable to steal |
| Anger at being unfairly accused of a wrongdoing |
Question-34
Which of the following terms indicates the degree to which people like or dislike themselves?
| Core self-evaluation |
| Authoritarianism |
| Self-monitoring |
| Machiavellianism |
Question-35
What is the main strength of job rotation?
| It eliminates management involvement. |
| It increases motivation. |
| It increases productivity. |
| It decreases training costs. |
Question-36
Which of the following is a group decision-making technique?
| Mind mapping |
| Brainstorming |
| Lateral thinking |
| Group polarization |
Question-37
Which theory of leadership proposes that followers attribute heroic or extraordinary leadership abilities when they observe certain behaviors?
| Charismatic leadership theory |
| Authentic leadership theory |
| Transactional leadership theory |
| Attributional leadership theory |
Question-38
According to the traditional view of conflict, conflict is:
| harmful. |
| natural. |
| necessary. |
| healthy. |
Question-39
You describe to your students a new committee within the university that brings together specialists from all different departments to develop a new interdisciplinary program. The structure of the committee best meets the definition of the:
| matrix structure. |
| simple structure. |
| boundaryless organization. |
| virtual organization. |
Question-40
________ refers to the degree to which jobs within the organization are standardized.
| Formalization |
| Decentralization |
| Departmentalization |
| Span of control |
Question-41
Oak Construction Company built 128 houses in Hilltop Estates. If the company built 7 times as many colonial style houses as ranch style houses, how many ranch style houses were erected?
| 14 |
| 21 |
| 16 |
| 24 |
Question-42
Calculate the weighted mean for the following data: value=10, weight=2; value=12, weight=6; value=15, weight=8; value=18, weight=6; value=20, weight=2
| 36 |
| 4.8 |
| 24 |
| 15 |
Question-43
This year Bronson's Tire Co. reported assets of $545,350 which is $120,640 more than last year. If owner's equity was $192,500 last year, what was the amount of liabilities reported on last year's balance sheet?
| $232,210 |
| $473,490 |
| $352,850 |
| $427,930 |
Question-44
Laser Printing and Graphics offers cash discounts of 2/15, 1/20, n/30 to customers on all purchases. A customer purchased $18,000 of merchandise on May 20. What is the amount of the net payment if the invoice was paid on June 8?
| $17,640 |
| $18,000 |
| $17,820 |
| $16,200 |
Question-45
Matt Stinson invested $4,000 in a simple interest account paying 5.5% per year. If he received $385 in interest, how long did he leave the money in the investment? (Express your answer to the nearest hundredth of a year.)
| 21 months |
| 1.5 years |
| 21 weeks |
| 175 days |
Question-46
Junko Kiera borrowed $13,000 at a discount loan rate of 12% for 30 months. Determine the true interest rate of Junko's loan.
| 0.171 |
| 0.152 |
| 0.133 |
| 0.141 |
Question-47
Klemson High-Tech Industries borrowed $65,000 for three years at 14% compounded semi-annually. How much interest will they pay on the loan when they pay it off at the end of the term of the loan? (Express your answer to the nearest cent.)
| $32,547.52 |
| $14,627.80 |
| $9,100.00 |
| $32,306.73 |
Question-48
Determine the future value of an ordinary annuity paying 10% quarterly for nine years if quarterly deposits of $450 are made throughout the nine years.
| $25,785.64 |
| $29,830.08 |
| $4,479.53 |
| $6,813.19 |
Question-49
An asset was purchased on January 3rd costing $75,000 with a salvage value of $2,800 and an estimated useful life of five years. Find the depreciation expense using the straight-line method.
| $15,000 |
| $15,440 |
| $14,440 |
| $13,750 |
Question-50
Mahalyk's Water Fun Shoppe specializes in jet skis. Mahalyk's inventory records showed the following for the past year: purchased 30 jetskis on February 10th at a cost of $4,000 per jetski; purchased 100 jetskis on May 12th at a cost of $3,000 per jetski; purchased 20 jetskis on June 15th at a cost of $3,500 per jetski; purchased 50 jetskis on July 20th at a cost of $2,500 per jetski Use the Average Cost Method to determine Mahalyk's value of ending inventory at the end of July if they had 75 jetskis left in inventory.
| $230,625 |
| $210,000 |
| $255,000 |
| $187,500 |
