Question No: 1 - Please choose one When the amount of government spending exceeds the amount of revenues, the result is called: ► Trade deficit ► Budget deficit ► Balance of payment ► Opportunity cost Question No: 2 - Please choose one What characteristic motivate a person to start his own business? ► Earning large incomes ► Being his own boss ► Challenge ► All of the given options Question No: 3 - Please choose one Firms can ensure responsibility to customers by: ► Safe manufacturing techniques ► Proper disposal of waste ► Seeking feedback about product ► Full financial disclosure Question No: 4 - Please choose one The position of “chief financial officer” is considered to be a: ► Supervisory position ► Top management position ► First-line management position ► Bottom-line position Question No: 5 - Please choose one The reinforcement theory that motivates employees by encouraging them to behave in a manner that avoids unfavorable consequences is __________ reinforcement. ► Positive ► Neutral ► Equity ► Negative Question No: 6 - Please choose one A Rolex watch and Mercedes car are considered: ► Convenience products ► Shopping goods ► Specialty products ► Industrial products Question No: 7 - Please choose one One way to accelerate the distribution process is to make sure that it is integrated with _______ process. ► Marketing ► Financing ► Advertising ► Production Question No: 8 - Please choose one Even a company’s product is properly produced, priced and distributed, it still needs to be: ► Manufactured ► Graded ► Promoted ► Market tested Question No: 9 - Please choose one _____________ is a management approach for an organization, centered on quality, based on the participation of all its members and aiming at long-term success through customer satisfaction and benefits to all members of the organization and to society. ► Total quality management ► Project management ► Personnel management ► Strategic planning Question No: 10 - Please choose one Information-systems applications, based on telecommunication technologies, that use networks of appliances or devices to communicate information by electronic means are: ► Electronic information technologies ► Management information systems ► Information management ► Transaction processing systems Question No: 11 - Please choose one Effective marketing are intended to affect the firm’s: ► Financial leverage ► Social responsibility ► Strategic plan ► Cash inflows Question No: 12 - Please choose one Arrangement whereby selected professional providers offer services at reduced rates and permit thorough review of their service recommendations is: ► Health maintenance organization ► Preferred provider organization ► Point-of-service ► Health Insurance Question No: 13 - Please choose one Process of conserving the firm's earning power and assets by reducing the threat of losses due to uncontrollable events is: ► Risk Avoidance ► Risk Management ► Risk Control ► Risk Transfer Question No: 14 - Please choose one __________ requires that expenses incurred in producing revenues be deducted from the revenue they generated during the same accounting period in order to accurately present the profitability of a business. ► Revenue Recognition ► Full Disclosure ► Matching principle ► Solvency Ratios Question No: 15 - Please choose one According to ___________ principle, organizations should be able to retain or dismiss employees at their discretion. ► Employment-at-Will ► Hostile work environment ► Workforce Diversity ► Knowledge Worker Question No: 16 - Please choose one Capital is the lifeblood of every business and is the most essential and important element of business. ► True ► False Qu