Quizzes For BUSN 100 AND ECON 101

BUSN 100 WEEK 2 QUIZ
Question 1 (10 points)
 
1. Models are_____
Question 1 options:

Hired to represent an organization
Representations of things in the real world
Business construction projects
Are things we are not familiar with

Question 2 (10 points)
 
The value proposition is_____
Question 2 options:

Used to price a product
Not a reliable resource
Consumer perception of something superior to the competition
Negotiated during the sales process

Question 3 (10 points)
 
Which of the following is not a target audience
Question 3 options:

Senior citizens
College students
Generation X
Anyone who likes ice cream

Question 4 (10 points)
 
The strategy is the design of a business model
Question 4 options:

True
False

Question 5 (10 points)
 
A model must have the following pre-requisites in order to implement and test it
Question 5 options:

A company owner, sound budget, leader, human resources, customers
A company owner, sound budget, suppliers, human resources, training
A company owner, sound budget, leader, human resources, training
A company owner, leader, human resources, training

Question 6 (10 points)
 
The marketing model is based on the premise that consumers buy products more than solutions
Question 6 options:

True
False

Question 7 (10 points)
 
The Value Chain Model addresses how value is created for the business
Question 7 options:

True
False

Question 8 (10 points)
 
The Marketing Mix is comprise of
Question 8 options:

Customer, cost, communication, convenience
Perception, prediction, perfection, promotion
Product, price, promotion and placement
Product, perception, price, promotion

Question 9 (10 points)
 
The primary activities in the value chain are
Question 9 options:

outbound logistics, operations, marketing and sales, and service
inbound logistics, outbound logistics, marketing and sales, and service
inbound logistics, operations, outbound logistics, and service.
inbound logistics, operations, outbound logistics, marketing and sales, and service

Question 10 (10 points)
 
Companies can succeed without a business model
Question 10 options:

True
False

BUSN 100 WEEK 6 QUIZ
Question 1 (10 points)
 
Professional accountants look at the accounting records and reports of a business from two perspectives.
Question 1 options:

budgets and expenses
profit and loss
revenue and income
financial accounting and managerial accounting

Question 2 (10 points)
 
In the United States ________________has been the designated independent entity for established accounting reporting standards since 1973.
Question 2 options:

International Accounting Standards Board (IASB)
Securities and Exchange Commission (SEC)
Financial Accounting Standards Board (FASB)
Generally Accepted Accounting Principles (GAAP)

Question 3 (10 points)
 
There are six basic types of accounts. Which of the following is not a basic account?
Question 3 options:

equity accounts
expense accounts
asset accounts
journal accounts

Question 4 (10 points)
 
Financial Accounting is the process of
summarizing financial data taken from an organization’s accounting records and publishing in the form of ___________ for the benefit of people _________ the organization.
Question 4 options:

a press release , inside
annual reports, outside
annual reports, inside
a press release , outside

Question 5 (10 points)
 
The Income Statement is important because it will tell you if your business will be profitable in the future
Question 5 options:

True
False

Question 6 (10 points)
 
The Balance Sheet will show you the financial condition of your business, what you own, what you owe, and the owners’ financial interest.
Question 6 options:

True
False

Question 7 (10 points)
 
Gross margin is simply the difference between Sales and the Cost of goods sold
Question 7 options:

True
False

Question 8 (10 points)
 
The cost of goods sold is the total cost the owner of a business paid for products sold minus expenses
Question 8 options:

True
False

Question 9 (10 points)
 
Gross margin is the difference between Sales and the Cost of goods sold. The greater the gross margin is the less profitable a business is likely to be.
Question 9 options:

True
False

Question 10 (10 points)
 
A ledger is a collection of the accounts of your business where transactions are recorded using the double-entry bookkeeping method
Question 10 options:

True
False

BUSN100 MIDTERM QUIZ
Question 1 (10 points)
 
In your own words explain, are entrepreneurs born or made?
Question 1 options:

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Question 2 (10 points)
 
In your own words, what is a venture capitalist?
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Question 3 (10 points)
 
In your own words, explain three of the nine building blocks for managers to use in developing an innovative and effective business model.
Question 3 options:

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Question 4 (10 points)
 
What is a competitive advantage? How does marketing contribute to the creation of a competitive advantage
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Question 5 (10 points)
 
What is market segmentation? List the steps in the market segmentation process.
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Question 6 (10 points)
 
Discuss several reasons why marketers continue to have a difficult time understanding, predicting, and explaining consumer behavior.
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Question 7 (10 points)
 
In your own words, what are the characteristics of the four types of business legal entities?
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Question 8 (10 points)
 
How does the cultural environment affect international marketing activities?
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Question 9 (10 points)
 
Describe the advantages and disadvantages of a flat versus tall organizational structure.
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Question 10 (10 points)
 
Explain the concept of employees as stakeholders in your own words
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BUSN100 FINAL QUIZ
Question 1 (10 points)
 
In your own words, explain operations management.
Question 1 options:

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Question 2 (10 points)
 
In your own words, what is Total Quality Management?
Question 2 options:

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Question 3 (10 points)
 
In your own words, explain three quality costs.
Question 3 options:

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Question 4 (10 points)
 
What is a bullwhip effect? What are the causes?
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Question 5 (10 points)
 
What is a strategic partnership? Give an example.
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Question 6 (10 points)
 
Explain a the challenges of outsourcing.
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Question 7 (10 points)
 
What is a balance sheet? How does it support business?
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Question 8 (10 points)
 
Identify a source of business financing.
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Question 9 (10 points)
 
Should a start-up organization invest in an IS immediately? Why or why not?
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Question 10 (10 points)
 
What is database management?
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