BA 101 TEST QUESTIONS AND ANSWERS LATEST UPDATE
Using the information in the Round 2 FastTrack, Andrews has one product, Able.
In the reported year, Able sold 1,375 units. How many could they have sold to the
Low Tech segment IF they had they produced enough to meet the full potential
demand? Assume that the Low Tech potential is 25.5% and the High Tech
potential is 9.1% as shown on page 7 of the FastTrack Report. (Refer to the
Round 2 Foundation FastTrack Report available both on Blackboard and in
Appendix 1 of "An Introduction to Business.")
Correct Answer:
Approximately 1,555
The two major classifications of those who have claims against a firm's assets
are:
Correct Answer:
the stockholders and those associated with the company's liabilities.
What is an example of a current liability?
Correct Answer:
a short term loan
f the Maxwell Corporation has $300,000 in assets and $180,000 in owners' equity,
the liabilities must amount to:
Correct Answer:
$120,000
Marketing strategy is most successful when it has:
Correct Answer:
a customer orientation
What is market segmentation?
Identifying and grouping potential customers by geographic, demographic, and
psychographic attributes according to common characteristics and needs
The contribution margin is calculated by this formula:
total revenue - variable costs
In the "fishing" story, what prevents Dave from killing evil Ralph or cutting his
nets?
Correct Answer:
Loss of trust leading to no one being willing to trade with him, societal mores, and
potential consequences
Anything owed to creditors is:
a liability
Primary market research includes:
Correct Answer:
conducting direct research with existing and potential customers
The statement that includes Assets, Liabilities and Owners' Equity is:
Correct Answer:
the balance sheet
You have a perfect new High Tech product coming out on July 1st of the coming
year. The market size (as reported in the FastTrack report) was 3,000 units. You
Using the information in the Round 2 FastTrack, Andrews has one product, Able.
In the reported year, Able sold 1,375 units. How many could they have sold to the
Low Tech segment IF they had they produced enough to meet the full potential
demand? Assume that the Low Tech potential is 25.5% and the High Tech
potential is 9.1% as shown on page 7 of the FastTrack Report. (Refer to the
Round 2 Foundation FastTrack Report available both on Blackboard and in
Appendix 1 of "An Introduction to Business.")
Correct Answer:
Approximately 1,555
The two major classifications of those who have claims against a firm's assets
are:
Correct Answer:
the stockholders and those associated with the company's liabilities.
What is an example of a current liability?
Correct Answer:
a short term loan
f the Maxwell Corporation has $300,000 in assets and $180,000 in owners' equity,
the liabilities must amount to:
Correct Answer:
$120,000
Marketing strategy is most successful when it has:
Correct Answer:
a customer orientation
What is market segmentation?
Identifying and grouping potential customers by geographic, demographic, and
psychographic attributes according to common characteristics and needs
The contribution margin is calculated by this formula:
total revenue - variable costs
In the "fishing" story, what prevents Dave from killing evil Ralph or cutting his
nets?
Correct Answer:
Loss of trust leading to no one being willing to trade with him, societal mores, and
potential consequences
Anything owed to creditors is:
a liability
Primary market research includes:
Correct Answer:
conducting direct research with existing and potential customers
The statement that includes Assets, Liabilities and Owners' Equity is:
Correct Answer:
the balance sheet
You have a perfect new High Tech product coming out on July 1st of the coming
year. The market size (as reported in the FastTrack report) was 3,000 units. You
