AFM 131

AFM 131 MODULE 3 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ _____________________ is starting and running a small business. Entrepreneurship Compared to small businesses, entrepreneurial ventures _____________________________________________. Generate more wealth quickly, have higher risks and must involve innovation A common theme for successful entrepreneurs is __________________________. A successful business springs from a good idea and borrowed money Many people ...

AFM 131 MIDTERM EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE positive effects of globalization from a business perspective - global comp drives innovation - more access to resources and suppliers - larger market - better and cheaper resources positives of globalization from a consumer perspective - more options - better quality - lower price positives of globalization from an employee perspective - interact with people from around the world - employer...

MODULE 4 AFM 131 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ marketing a set of business practices designed to pan for and present an organization's products or services in ways that build effective customer relatopnships marketing concept a 3 part business philosophy 1) customer orientation 2) service orientations 3) profit orientation marketing orientations 1)continuously collecting information about customers 2) sharing this information throughout the organization...

MODULE 5 AFM 131 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE value good quality a fair price total product offer everything that consumers evaluate when deciding whether to buy something product line group of products that are physically similar or are intended for a smaller market product mix combination of product line offered by an organization product differentiation creation of real or perceived product differences brand equity value of the bran...

AFM 131 MODULE 2 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ Six categories of how government affects business - Crown corporations - Laws and regulations - Tax and financial policies - Government policies - Services Crown corporations Companies owned by the federal or provincial government Privatization Selling publicly-owned corporations Deregulation Withdrawal of laws and regulations that hinder competition Provincial government responsibilities - Regulation ...

AFM 131 FINAL PRACTICE EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE Employment Equity: protections for employees from discrimination and harassment The following characteristics represent a successful entrepreneur, EXCEPT: desire to follow other With _____, the company has a legal obligation to repay the amount borrowed debt financing The United States in Canada's top trading partner for exports and imports. True By selling shares in their company, Ub...

AFM 131 FINAL EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ Finance Acquiring/managing funds within the company Financial management managing resources to meet goals or objectives (bugdgeting, spending appropriately, manage cash flow) financial manager examine financial data prepared by accountants and recommend strategies to improve performance of the firm 3 steps of financial planning Forecast short and long-term financial needs Develop budget Establish financial co...

AFM131 FINAL EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ The rate at which new technologies have been adopted has been influenced by: Evolving needs and desires of consumers EQ is a measure of technical aptitude and social intelligence. False. (EQ focuses on social intelligence, while IQ considers technical aptitude.) All of the following are important considerations about international business, EXCEPT: Employers value graduates with a local mindset. (employers value g...

AFM 131 MODULE 8 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ Accounting recording, classifying, summarizing, and interpreting financial events Reports and financial statements from accountants can: provide information that can be used by decision- makers both inside and outside the organization. Inputs Accounting documents: Sales, Purchasing, Shipping, Payroll Processing Record: entries made in journals, Classifying: Transfer info to legers All Accounts are summariz...

AFM 131 - REVIEW EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED What is globalization? the process by which businesses or other organizations develop international influence or start operating on an international scale. Why do businesses go global? To access new customers, expand customer base and market share, better economics of scale. What are some opportunities of joining the global market? Drives innovation, increased access to global resources, greater profit. What ar...