MBA Midterm Questions With All Correct Answers
An example of leading and directing would be.. correct answer -Being
asked to chair a new committee
Being promoted to senior manager
Giving on-the-job training
Which of these activities is NOT included in physical distribution..?
-Transportation, Selling, Managing inventory, Order processing and
Warehousing. correct answer -Selling
Why is it a good idea to match a specific product to a target market? correct
answer -To ensure a strong customer base for the product
In terms of the marketing mix, distribution is represented by which "P?"
correct answer -Place
You need to schedule an international conference call with co-workers that
include managers and employees. You should schedule the call at a time that
limits the inconvenience to: correct answer -Other participants
When people speak about the bottom line, they are referring to: correct
answer -Net Profit
Which pricing method sets the price of the product on what the customer is
willing to pay? correct answer -Demand-oriented pricing
Larry's car had a tune-up, and the mechanic told him it's going to need a new
timing belt at the next scheduled maintenance. Larry decides to sell the car,
and tells the buyer that the maintenance is up to date. This is: correct
answer -Completely unethical, and Larry knows it
Which of the following would NOT be a good place to go to get advice?
correct answer -An Embezzlers Anonymous Meeting
,When would you use conditional formatting on a cell? correct answer -You
want to highlight negative numbers by using red text.
Which accounting system most accurately reflects profitability? correct
answer -Accrual Accounting
Which of the following is most important to the daily operations of a business?
correct answer -cash
Each day you have $5 for lunch. Today, you decided to save $2 and buy the
chicken salad tomorrow for $6.50. How is money being used in this case?
correct answer -As a store of value
Before Thanksgiving, the price of turkeys increase and the demand also
increases. Is this a violation of the law of demand? correct answer -No, a
non-price factor is increasing the demand and causing the demand curve to
shift right
What is a product line? correct answer -A group of products that are
closely related to each other
Your co-worker is having trouble finishing a report. He'll pay you double your
normal hourly rate to do it and not tell anyone. What do you do? correct
answer -Decline, explaining that you have your own report to write.
If you work for yourself, you never have to worry about business ethics.
correct answer -false
What formula should you enter into C4, so it can be filled down the rest of the
column? Hint: The "% of Total" is equal to "Number Sold" divided by the
"Total." correct answer -=B2/$B$8
What is the main purpose of a market? correct answer -To allow for the
exchange of products
Which is an advantage of a matrix organization? correct answer -
Leverages expertise of employee where needed
, Which one of the following items is not found on a Balance Sheet? correct
answer -Gross Profit
Profit goals should be: correct answer -A stretch but, not seem impossible
to reach.
Which economic system is most likely to result in the most innovation?
correct answer -market
Which pricing objective focuses on generating the highest possible profits?
correct answer -maximize profits
You meet a new employee who has recently transferred to your office from
China. She is not a native English speaker. What should you do if you have
trouble communicating with her? correct answer -Speak slower than
normal and listen carefully.
You found a huge error in a report that is going to the president of the
company shortly. You know who created the problem. What should you do?
correct answer -Solve the problem without assigning blame.
How can you make a large amount of text visible in a cell without changing the
width of the cell? Select the best answer correct answer -Wrap the text
How many arguments are used in the following Excel function that returns the
current date and time: NOW()? correct answer -Zero
Human Resources main focus is: correct answer -People
What is the term that refers to the functions used to move products through
the channel to the consumer? correct answer -Physical distribution
A person doing medical billing from their den is an example of a/an correct
answer -Home-based Business
Which market structure requires a large number of suppliers? correct
answer -Pure competition
An example of leading and directing would be.. correct answer -Being
asked to chair a new committee
Being promoted to senior manager
Giving on-the-job training
Which of these activities is NOT included in physical distribution..?
-Transportation, Selling, Managing inventory, Order processing and
Warehousing. correct answer -Selling
Why is it a good idea to match a specific product to a target market? correct
answer -To ensure a strong customer base for the product
In terms of the marketing mix, distribution is represented by which "P?"
correct answer -Place
You need to schedule an international conference call with co-workers that
include managers and employees. You should schedule the call at a time that
limits the inconvenience to: correct answer -Other participants
When people speak about the bottom line, they are referring to: correct
answer -Net Profit
Which pricing method sets the price of the product on what the customer is
willing to pay? correct answer -Demand-oriented pricing
Larry's car had a tune-up, and the mechanic told him it's going to need a new
timing belt at the next scheduled maintenance. Larry decides to sell the car,
and tells the buyer that the maintenance is up to date. This is: correct
answer -Completely unethical, and Larry knows it
Which of the following would NOT be a good place to go to get advice?
correct answer -An Embezzlers Anonymous Meeting
,When would you use conditional formatting on a cell? correct answer -You
want to highlight negative numbers by using red text.
Which accounting system most accurately reflects profitability? correct
answer -Accrual Accounting
Which of the following is most important to the daily operations of a business?
correct answer -cash
Each day you have $5 for lunch. Today, you decided to save $2 and buy the
chicken salad tomorrow for $6.50. How is money being used in this case?
correct answer -As a store of value
Before Thanksgiving, the price of turkeys increase and the demand also
increases. Is this a violation of the law of demand? correct answer -No, a
non-price factor is increasing the demand and causing the demand curve to
shift right
What is a product line? correct answer -A group of products that are
closely related to each other
Your co-worker is having trouble finishing a report. He'll pay you double your
normal hourly rate to do it and not tell anyone. What do you do? correct
answer -Decline, explaining that you have your own report to write.
If you work for yourself, you never have to worry about business ethics.
correct answer -false
What formula should you enter into C4, so it can be filled down the rest of the
column? Hint: The "% of Total" is equal to "Number Sold" divided by the
"Total." correct answer -=B2/$B$8
What is the main purpose of a market? correct answer -To allow for the
exchange of products
Which is an advantage of a matrix organization? correct answer -
Leverages expertise of employee where needed
, Which one of the following items is not found on a Balance Sheet? correct
answer -Gross Profit
Profit goals should be: correct answer -A stretch but, not seem impossible
to reach.
Which economic system is most likely to result in the most innovation?
correct answer -market
Which pricing objective focuses on generating the highest possible profits?
correct answer -maximize profits
You meet a new employee who has recently transferred to your office from
China. She is not a native English speaker. What should you do if you have
trouble communicating with her? correct answer -Speak slower than
normal and listen carefully.
You found a huge error in a report that is going to the president of the
company shortly. You know who created the problem. What should you do?
correct answer -Solve the problem without assigning blame.
How can you make a large amount of text visible in a cell without changing the
width of the cell? Select the best answer correct answer -Wrap the text
How many arguments are used in the following Excel function that returns the
current date and time: NOW()? correct answer -Zero
Human Resources main focus is: correct answer -People
What is the term that refers to the functions used to move products through
the channel to the consumer? correct answer -Physical distribution
A person doing medical billing from their den is an example of a/an correct
answer -Home-based Business
Which market structure requires a large number of suppliers? correct
answer -Pure competition
