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Final Exam Review

by: Nia Notetaker

Final Exam Review 101

Marketplace > Old Dominion University > Business > 101 > Final Exam Review
Nia Notetaker
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This is the question and answer key to the final exam which has been given for the past 3 years.
Introduction to Business
Jennifer Usis
Study Guide
50 ?




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This 2 page Study Guide was uploaded by Nia Notetaker on Thursday December 17, 2015. The Study Guide belongs to 101 at Old Dominion University taught by Jennifer Usis in Fall 2015. Since its upload, it has received 273 views. For similar materials see Introduction to Business in Business at Old Dominion University.


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Date Created: 12/17/15
  1. Nicole is a financial manager. Her responsibilities include preparing which of the  following?  a. CASH FLOW ANALYSIS   2. The four stages in the product life cycle are introduction, market, exchange, and  disposal:  a. FALSE   3. _________________ is a marketing strategy with a goal to keep individual customers  over time by offering them new products that exactly meet their requirements.   a. RELATIONSHIP MARKETING   4. Two of the characteristics of useful information are:  a. RELEVANCE AND TIMELINESS  5. Throughout history, an investment in ________ has yielded an excellent return,  regardless of the state of the economy or political changes.  a. A GOOD EDUCATION  6. Which of the following people would tend to favor a socialist economy?  a. SOCIAL EQUALITY   7. Ed Flavorman, the chief executive of Flavor Best Ice Cream, believes that alternative  plans are almost as important as the primary operational plans because the market is so  competitive and unpredictable. Ed endorses:  a. CONTINGENCY   8. _________ analysis is used to help companies evaluate their economic environments,  assess their strengths and weaknesses, and identify competitive threats and market  opportunities.  a. SWOT  9. A(n) ________­based ethics code emphasizes the prevention of unlawful behavior by  penalizing wrongdoers.  a. Compliance   10. Put in order the strategies for reaching global markets from least to most amount of  commitment, control, risk, and profit potential.   a. licensing, exporting, franchising, contract, joint ventures, Foreign direct  investments  11. Which of the following statements about monetary policy is most true?   a.   12. Harmon Furniture Company uses labor and machinery to transform wood, plastic, metal,  and cloth into comfortable chairs, sofas, and love seats.  This process creates:  a. Form utility   13. Bob has the responsibility for product development, pricing, promotion, and distribution  of Hi Vee Vitamins for children. Bob’s job would not  involve:  a. pollution control   14. When the supply curve and demand curve for a particular good are on a single graph,  the point at which the two curves intersect identifies the:   a. equilibrium price   15. One of the major financial statements prepared in the fifth step of the accounting cycle is  the:   a. Statement Cash Flows   16. Larry wants to buy a new car, and is planning to borrow the money for his purchase from  a bank. He has just read in the newspapers that the Federal Reserve is likely to  implement policies in the next few weeks that are designed to stimulate the economy,  which is currently in a recession. Larry would probably get a lower interest rate on his car  loan if he waits until after the Fed implements its new policies.   a. True  17. The Federal Reserve System operates:  a.  Independently   18. Many financial experts advise that you set up a contingency fund equal to about  ________ of your earnings and keep these funds in highly liquid accounts.  a. 6 months   19. Kidder Manufacturing wants to ship a large quantity of its goods across the country.  They have contacted Wayback Shipping, Inc. to find out what the shipment would cost.  Wayback has shown Kidder how it can arrange to use a combination of barges, trains,  and trucks to complete the shipment at a low cost. Wayback’s strategy is an example of:  a. Intermodal Shipping  20. ________ examine the data prepared by ________ and then make recommendations to  top management regarding strategies for improving the firm.  a. Accountants; Financial Managers  21. Financial planners encourage individuals to begin contributing funds into an IRA as early  as possible. The major benefit of early and regular contributions is that:  a. Long time to grow  22. The five factors of production are:   a. Natural Resources Labor Capital Entrepreneurship Knowledge   23.  Ho Han has just spent two hours going over quality reports to determine whether his  department is meeting quality standards he set for the current month. Ho's efforts are  part of the ___________ function of management.  a. Controlling  24. Taxes and government regulations are part of the ________________ environment of  business.  a.  Economic and Legal  25. Elizabeth owns a printing business in her home town. The printers, computers, and  copying machines represent examples of:  a. Capital    


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