GEB MCQ: May 2019

Archive for May 2019

_____ is a comprehensive set of environmental standards that encourage companies to conduct business in a cleaner, safer, and less wasteful way.

_____ is a comprehensive set of environmental standards that encourage companies to conduct business in a cleaner, safer, and less wasteful way. ISO...

When managing a supply chain, after all, materials have been procured and their use determined, managers must then consider the _____ or the sequence of operations through which a product must pass.

When managing a supply chain, after all, materials have been procured and their use determined, managers must then consider the _____ or the sequence...

_____ inventory includes those products that are ready for sale.

_____ inventory includes those products that are ready for sale. Work-in-process Raw materials Finished goods Components Input Answer: Finished...

Connecting and integrating all parties or members of the distribution system in order to satisfy customers is called:

Connecting and integrating all parties or members of the distribution system in order to satisfy customers is called: logistics. marketing. financ...

_____ are organizations that deal with products of a lesser magnitude than do project organizations; their products are not necessarily unique but possess a significant number of differences.

_____ are organizations that deal with products of a lesser magnitude than do project organizations; their products are not necessarily unique but possess...

_____ is making products to meet a particular customer's needs or wants.

_____ is making products to meet a particular customer's needs or wants. Standardization Commoditization Generalization Simplification Customizati...

Most goods are manufactured _ purchase and most services are performed _ purchase.

Most goods are manufactured _____ purchase and most services are performed _____ purchase. prior to; after after; prior to after; after prior to; prior...

_____ are resources such as labour, money, materials, and energy that are converted into goods, services, and ideas.

_____ are resources such as labour, money, materials, and energy that are converted into goods, services, and ideas. End-products Operations Outpu...

The term ______ is used to describe those processes used in the making of both tangible and intangible products.

The term ______ is used to describe those processes used in the making of both tangible and intangible products. marketing operations finance prom...

The development and administration of the activities involved in transforming resources into goods and services are known as _____.

The development and administration of the activities involved in transforming resources into goods and services are known as _____. marketing management finance...

The _____ is an informal channel of communication, separate from management's formal, official communication channels.

The _____ is an informal channel of communication, separate from management's formal, official communication channels. executive dashboard grapevine organization...

A _____ is a group of employees responsible for an entire work process or segment that delivers a product to an internal or external customer. It is designed to give employees a feeling of "ownership" of a whole job.

A _____ is a group of employees responsible for an entire work process or segment that delivers a product to an internal or external customer. It is...

The _____ organizational structure has direct lines of authority that extend from the top manager to employees at the lowest level of the organization.

The _____ organizational structure has direct lines of authority that extend from the top manager to employees at the lowest level of the organizat...

Organizations with more layers are __ and have _ spans of management.

Organizations with more layers are ____ and have ___ spans of management. tall; wide tall; narrow flat; narrow short; wide short; narrow Answer: tall;...

In a centralized organization, authority:

In a centralized organization, authority: is concentrated at the top, and very little decision-making authority is delegated to lower levels. is concentrated...

Primo Printers, a manufacturer and seller of printers in Atlanta, Georgia, is organized into three departments: Laser Printers, Ink Jet Printers, and Dot-Matrix Printers. Identify the method of departmentalization used at Primo.

Primo Printers, a manufacturer and seller of printers in Atlanta, Georgia, is organized into three departments: Laser Printers, Ink Jet Printers, and...

Akme Inc. is organized into Marketing, Finance, Human Resources Production, and Logistics departments. Akme has adopted _____ departmentalization.

Akme Inc. is organized into Marketing, Finance, Human Resources Production, and Logistics departments. Akme has adopted _____ departmentalization. ...

The division of labour into small, specific tasks and the assignment of employees to do a single task is known as _____.

The division of labour into small, specific tasks and the assignment of employees to do a single task is known as _____. job enrichment job rotation specialization empowerment job...

A(n) _____ is a visual display of the organizational structure, lines of authority (chain of command), staff relationships, permanent committee arrangements, and lines of communication.

A(n) _____ is a visual display of the organizational structure, lines of authority (chain of command), staff relationships, permanent committee arrangements,...

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

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

____ refers to the building of relationships and sharing of information with colleagues who can help managers achieve the items on their agendas.

____ refers to the building of relationships and sharing of information with colleagues who can help managers achieve the items on their agendas. ...

Which of the following is the first step in the decision-making process?

Which of the following is the first step in the decision-making process? Implementing the decision Developing options Analyzing the options Selecting...

______ refer to the ability to identify relevant issues and recognize their importance, understand the relationships between them, and perceive the underlying causes of a situation.

______ refer to the ability to identify relevant issues and recognize their importance, understand the relationships between them, and perceive the...

_____ leaders make all the decisions and then tell employees what must be done and how to do it.

_____ leaders make all the decisions and then tell employees what must be done and how to do it. Autocratic Democratic Free-rein Collaborative Par...

_______ develop and administer the activities involved in transforming resources into goods, services, and ideas ready for the marketplace.

_______ develop and administer the activities involved in transforming resources into goods, services, and ideas ready for the marketplace. Marketing...

_____ are involved in the specific operations of the organization and spend more time organizing than other managers.

_____ are involved in the specific operations of the organization and spend more time organizing than other managers. First-line managers Supervisors Top...

In businesses, _____ include the president and other top executives, such as the chief executive officer (CEO), chief financial officer (CFO), and chief operations officer (COO), who have overall responsibility for the organization.

In businesses, _____ include the president and other top executives, such as the chief executive officer (CEO), chief financial officer (CFO), and chief...

The management function of _____ refers to motivating and leading employees to achieve organizational objectives.

The management function of _____ refers to motivating and leading employees to achieve organizational objectives. planning organizing staffing dir...

A firm's highest managers develop its _____ plans, which establish the long-range objectives and overall strategy or course of action by which the firm fulfils its mission.

A firm's highest managers develop its _____ plans, which establish the long-range objectives and overall strategy or course of action by which the firm...

The first function of management is:

The first function of management is: organizing. planning. staffing. controlling. directing. Answer: plannin...

The ________ is a network of dealers all over the country linked by computers, telephones, and Teletype machines.

The ________ is a network of dealers all over the country linked by computers, telephones, and Teletype machines. automated clearinghouse floor-traded...

_____, the sale of stocks and bonds for corporations, helps the companies raise funds by matching people and institutions who have money to invest with corporations in need of resources to exploit new opportunities.

_____, the sale of stocks and bonds for corporations, helps the companies raise funds by matching people and institutions who have money to invest with...

Which of the following statements refers to junk bonds?

Which of the following statements refers to junk bonds? It is a debenture or bond that is not backed by specific collateral. It is a bond that is...

____ are backed by specific collateral that must be forfeited in the event that the issuing firm defaults.

____ are backed by specific collateral that must be forfeited in the event that the issuing firm defaults. Serial bonds Secured bonds Junk bonds Debentures Convertible...

What are long-term liabilities?

What are long-term liabilities? They consist of resources such as cash, investments, accounts receivable, and inventory. They consist of debts such...

Which of the following refers to capital budgeting?

Which of the following refers to capital budgeting? The process of analyzing the needs of the business and selecting the assets that will maximize...

A(n) _____ is a finance company to which businesses sell their accounts receivable, usually for a percentage of the total face value.

A(n) _____ is a finance company to which businesses sell their accounts receivable, usually for a percentage of the total face value. auditor factor mutual...

_____ is an arrangement by which a bank agrees to lend a specified amount of money to an organization upon request.

_____ is an arrangement by which a bank agrees to lend a specified amount of money to an organization upon request. Marketable security Treasury bill Commercial...

Which of the following statements is true about inventory?

Which of the following statements is true about inventory? If a firm attempts to produce its goods just in time to meet sales demand, the level of...

A written promise from one company to another to pay a specific amount of money is referred to as a _____.

A written promise from one company to another to pay a specific amount of money is referred to as a _____. commercial paper invoice voucher remittance...

The systems that permit payments such as deposits or withdrawals to be made to and from a bank account by magnetic computer tape are known as _____.

The systems that permit payments such as deposits or withdrawals to be made to and from a bank account by magnetic computer tape are known as _____. automated...

Which among the following is true of mutual funds?

Which among the following is true of mutual funds? They make loans to businesses, requiring their borrowers to pledge assets such as equipment, inventories,...

A financial institution owned and controlled by its depositors, who usually have a common employer, profession, trade group, or religion is referred to as a(n) _____.

A financial institution owned and controlled by its depositors, who usually have a common employer, profession, trade group, or religion is referred...

Which of the following is a feature of commercial banks?

Which of the following is a feature of commercial banks? They rely mainly on checking and savings accounts as their major source of funds. They use...

Which of the following statements is true about the Federal Reserve Board?

Which of the following statements is true about the Federal Reserve Board? The Fed is the chief social and legislative policy-making arm of the United...

_____ allow an individual to promise to pay at a later date by using preapproved lines of credit granted by a bank or finance company.

_____ allow an individual to promise to pay at a later date by using preapproved lines of credit granted by a bank or finance company. Traveler's checks Credit...

_____ are accounts with funds that usually cannot be withdrawn without advance notice and/or have limits on the number of withdrawals per period.

_____ are accounts with funds that usually cannot be withdrawn without advance notice and/or have limits on the number of withdrawals per period. Checking...

As legal instruments, _____ serve as a substitute for currency and coins and are preferred for many transactions due to their lower risk of loss.

As legal instruments, _____ serve as a substitute for currency and coins and are preferred for many transactions due to their lower risk of loss. ...

____ is a characteristic of money which indicates that money can be easily moved from one location to the next.

____ is a characteristic of money which indicates that money can be easily moved from one location to the next. Portability Divisibility Stability...

The term _____ refers to trading one good or service for another of similar value.

The term _____ refers to trading one good or service for another of similar value. lease sale credit bartering lien Answer: barteri...

Net income or profit divided by the number of stock shares outstanding is called _____.

Net income or profit divided by the number of stock shares outstanding is called _____. depreciation per share current asset ratio earnings per share current...

Which of the following is a liquidity ratio?

Which of the following is a liquidity ratio? Receivable turnover ratio Quick ratio Inventory turnover ratio Return on equity Debt to total assets ratio Answer: Quick...

Cash is an example of:

Cash is an example of: current liability. accounts receivable. accounts payable. current asset. accrued expenses. Answer: current asse...

Which of the following is provides the best snapshot of an organization's financial position at a given moment?

Which of the following is provides the best snapshot of an organization's financial position at a given moment? balance sheet mission statement budget...

_____ is the process of spreading the costs of long-lived assets such as buildings and equipment over the total number of accounting periods in which they are expected to be used.

_____ is the process of spreading the costs of long-lived assets such as buildings and equipment over the total number of accounting periods in which...

Net income is also known as _____.

Net income is also known as _____. gross profit operating income operating profit earnings after taxes sales margins Answer: earnings after...

What is the first step in the accounting cycle?

What is the first step in the accounting cycle? Recording transactions Examining source documents Posting transactions Preparing financial statements Publishing...

Which of the following is an example of a liability?

Which of the following is an example of a liability? Cash Inventory Patent Property Bank loan Answer: Bank lo...

A(n) _____ is an internal financial plan that forecasts expenses and income over a set period of time.

A(n) _____ is an internal financial plan that forecasts expenses and income over a set period of time. mission statement financial audit budget annual...

The difference between accounting and book-keeping is an accounting:

The difference between accounting and book-keeping is an accounting: allows accountants to record, understand, interpret, and develop accounting systems. is...

_____ involves "creating a positive association with environmental issues for an unsuitable product, service, or practice."

_____ involves "creating a positive association with environmental issues for an unsuitable product, service, or practice." Recycling Greenwashing Consumerism Green...

From a strategic business perspective, sustainability is defined as:

From a strategic business perspective, sustainability is defined as: focusing on the business's responsibility to customers by providing them with...

The activities that independent individuals, groups, and organizations undertake to protect their rights as consumers are known as:

The activities that independent individuals, groups, and organizations undertake to protect their rights as consumers are known as: consumerism. c...

Businesses must first be responsible for their:

Businesses must first be responsible for their: employees. consumers. community. owners. suppliers. Answer: owne...

The extent to which businesses meet the legal, ethical, economic, and voluntary responsibilities placed on them by their various stakeholders is called:

The extent to which businesses meet the legal, ethical, economic, and voluntary responsibilities placed on them by their various stakeholders is called: corporate...

Which of the following constitutes the economic responsibility of a business?

Which of the following constitutes the economic responsibility of a business? Maintaining fair accounting practices Paying employees high wages Being...

_____ refers to the act of an employee exposing an employer's wrongdoing to outsiders, such as the media or government regulatory agencies.

_____ refers to the act of an employee exposing an employer's wrongdoing to outsiders, such as the media or government regulatory agencies. Benchmarking Corporate...

_____ is the act of taking someone else's work and presenting it as your own without mentioning the source.

_____ is the act of taking someone else's work and presenting it as your own without mentioning the source. Bribing Plagiarism Whistleblowing Gree...

____ refers to payments, gifts, or special favours intended to influence the outcome of a decision.

____ refers to payments, gifts, or special favours intended to influence the outcome of a decision. Duress Misappropriation Perjury Embezzlement B...

Which of the following is true of business ethics and social responsibility?

Which of the following is true of business ethics and social responsibility? The terms social responsibility and business ethics can be used interchangeably. All...

The American economic system is best described as _____ because the government regulates business to preserve competition and protect consumers and employees.

The American economic system is best described as _____ because the government regulates business to preserve competition and protect consumers and...

In the early years of the colonization of North America, the colonists operated primarily as a(n) _____ economy, where people were self-sufficient and produced everything they needed at home, including food, clothing, and furniture.

In the early years of the colonization of North America, the colonists operated primarily as a(n) _____ economy, where people were self-sufficient and...

____ is the sum of all goods and services produced in a country during a year.

____ is the sum of all goods and services produced in a country during a year. Gross national income Aggregate demand Gross domestic product Producer...

_____ exists when there are many small businesses selling one standardized product, such as agricultural commodities like wheat, corn, and cotton.

_____ exists when there are many small businesses selling one standardized product, such as agricultural commodities like wheat, corn, and cotton. Pure...

The equilibrium price is the price at which:

The equilibrium price is the price at which: 1) the number of products that businesses are willing to supply equals the number of products that consumers...

In _____, all economic decisions are made without government intervention.

In _____, all economic decisions are made without government intervention. socialist economies communist economies command economies modified capitalism free-market...

_____ is an economic system in which the government owns and operates basic industries postal service, telephone, utilities, transportation, health care, banking, and some manufacturing but individuals own most businesses.

_____ is an economic system in which the government owns and operates basic industries postal service, telephone, utilities, transportation, health...