Final Test Answers

41 verified answers4 views
1
Free Preview

If you co-sign for a friend's credit card, what is the danger to you if your friend fails to pay?

A
You might get secured credit.
B
You might have to pay extra money in taxes.
C
Your credit score might go down.
D
Your credit score might go up.
3

In a planned economy, prices of commodities are controlled by _________.

A
Supply and demand
B
Producers and consumers
C
The government
D
Private enterprises
4

In the accounting equation, assets are equal to which two things?

A
Debits + equity
B
Debits + accounts
C
Liabilities + equity
D
Liabilities + accounts
6

In a company's SWOT analysis, which of the following is an example of a strength?

A
A law is passed that decreases demand for the company's product.
B
A demographic trend increases demand for the company's product.
C
The company's employees are efficient and productive.
D
The company doesn't have many competitors.
7

If you collect personal information about your customers, what should you do?

A
Tell customers how you will use and protect their information.
B
Share their information with other companies in your industry.
C
Give the customers access to your database so they can learn about other customers.
D
Hide customer information from most of your employees.
8

Which of the following is a reason a country might put a tariff on imports?

A
To form an agency relationship
B
To increase its exports
C
To protect domestic companies
D
To create free trade
10

Which of the following is a reason that your company might not want to increase its market share?

A
The market saturation for your product is low.
B
Many of your company's competitors have bad reputations.
C
Your company has a limited capacity for producing your product.
D
The price of your product is very competitive.
12

A good investment should do one or both of which two things?

A
Grow in value or produce income
B
Raise prices or increase demand
C
Avoid opportunity cost or increase volatility
D
Decrease diversification or decrease interest
13

What is a commodity?

A
Something that producers are unable to sell to consumers.
B
A resource that is available in unlimited quantities.
C
An exchange between a producer and a consumer.
D
Something of value that can be bought, sold, or traded.
14

Which of the following things can help you get a lower interest rate when you receive a loan?

A
A low credit score
B
A history of defaulting
C
Using all of your available credit
D
Collateral
15

How is the value of a product determined?

A
By the amount a consumer is willing to pay for it
B
By how much it cost the producer to make
C
By its variable costs
D
By the number of workers who were involved in making it
16

If you want to compare two different investments, what should you calculate?

A
The compound interest
B
The ROI percentages
C
The ROI dollar amounts
D
The capital gain
17

Which of the following sections of a business plan comes first but should be written last?

A
Goals and Strategy
B
Executive Summary
C
Products and Services
D
Funding Request
18

Which of the following is an example of a conflict of interest?

A
A manufacturing company hires many employees.
B
A worker has two jobs at unrelated companies.
C
A lawyer represents the plaintiff and the defendant.
D
A competitor interferes with another company's contract.
19

Which of the following can help you evaluate the performance of your ads and other marketing strategies?

A
Asking competitors what they think of your advertising strategy
B
Collecting secondary data about your target market
C
Asking customers how they found out about your company or product
D
Sending out a press release multiple times
20

Which of the following types of advertising has the advantage of being especially affordable?

A
Magazine advertising
B
Infomercials
C
Internet advertising
D
Billboard advertising

Did you find these answers helpful?