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Select a small business that you may want to start (explain the business to the class). Why would
a strategic plan be important to the success of this business? How are the four functions of
management relative to creating and implementing a strategic plan?
What factors must be considered to produce an appropriate mission and vision statement for an
organization?
BUS 475 Week 2 Individual Assignment Strategic Plan, Part I Conceptualizing a Business
Writea 1,050- to 1,400-word paper in which you explain the importance of your selected
businesss vision, mission, and values in determining your strategic direction. Include the
following:
Create a vision for this organization that clearly demonstrates your decision on what you
want your business to become in the future.
Define your guiding principles or values for your selected business considering the topics
of culture, social responsibility, and ethics.
Analyze how the vision, mission, and values guide the organizations strategic direction.
Evaluate how the organization addresses customer needs and critique how they achieve
competitive advantage.
What is a SWOTT analysis? What is its purpose in strategic planning? Must you conduct a
SWOTT analysis to have an effective strategic plan? Why or why not?
What are the key planning factors for competitive success? Provide an example of an
organization that has achieved competitive success through planning. Provide an
example of an organization that has failed to achieve competitive success as the result of
failed planning
Discuss with your Learning Team an existing organization with which you are familiar that is
different than the one you used for the Conceptualizing a Business paper.
Writea 700- to 1,050-word paper in which you analyze the individual values and the
organizations values as reflected by the organizations plans and actions. Include the following in
your paper:
Analyze the origin(s) and subsequent evolution of your personal and workplace values.
Explain how your individual values drive your actions and behaviors, and analyze the
alignment between your values and actions and behaviors.
Analyze the degree of alignment between the organizations stated values and the
organizations actual plans and actions.
Explain the differences and analyze the degree of alignment between your values and the
organizations values as reflected by the organizations plans and actions.
BUS 475 Week 3 Individual Assignment Strategic Plan, Part II SWOTT Analysis
Conductan internal and external environmental analysis for your proposed business.
Discuss with your Learning Team the forces and trends below that must be taken into
consideration while developing a strategic plan. Given todays business environment and each
Learning Team members selected business idea, provide a list of the lessons learned from your
Learning Teams discussion for each of the items listed below. Use this discussion to complete
this assignment.
Create a SWOTT table summarizing your findings. Your environmental analysis should
take into account, at a minimum, the following factors. For each factor, identify the one
primary strength, weakness, opportunity, threat, and trend, and include it in your table.
Global
Economic
Technological
Innovation
Social
Environmental
Competitive analysis
Internal forces and trends considerations:
Strategy
Structures
Resources
Goals
Strategic capabilities
Culture
Technologies
Innovations
Intellectual property
Leadership
Writea 1,400- to 1,750-word synopsis in which you analyze at least seven of the forces and
trends from the list above. Your analysis must include the following:
Identify the major issues and/or opportunities that the company faces based on your
analysis above.
Generate a hypothesis surrounding each issue and research questions to use for
conducting analysis.
Identify the circumstances surrounding each issue; classify the circumstances; attribute
the importance of each classification; and test the accuracy of the importance for each
classification.
Select one organization of the Virtual Organizations from the student Website.
State the primary reasons for the organizations existence from an analysis of the
mission, vision, values, and goals.
Analyze the reason for the type of organizational structure employed by the organization,
and identify the key positions that support that organizational structure.
Identify and explain the steps of the collaboration process among the functional areas
that must be employed to achieve organizational goals, and prepare an action plan to
implement the collaboration process.
Identify and provide an example of the use of lateral collaboration and vertical
collaboration within the organization, and prepare an action plan to use lateral and vertical
collaboration.
Identify the key stakeholders and their roles needed to achieve the organizational goals, and
recommend the collaborative interactions among the key stakeholders to facilitate the
organizations success
BUS 475 Week 3 Discussion Questions
What are the different types of strategies? What are the differences among these
strategies? How do you determine which type of strategy is most appropriate for your
organization?
What is the difference among strategic, long-term, and short-term objectives? What is the
relationship between objectives and goals? What are examples of this relationship?
BUS 475 Week 4 Individual Assignment Strategic Plan, Part IIIBalanced Scorecard
Develop the strategic objectives for your business in the format of a balanced scorecard.The
strategic objectives are measures of attaining your vision and mission. As you develop them
consider the vision, mission, and values for your business and the outcomes of your SWOTT
analysis. Consider the following four quadrants of the balanced scorecard when developing your
strategic objectives:
Market share
Profitability
Competitive position
Customer satisfaction
Customer value
Operations metrics
Learning and Growth (Employee) Perspective, includes strategic objectives in areas such
as:
Employee satisfaction
Employee turnover or retention
Level of organizational capability
Nature of organizational culture or climate
Technological innovation
Develop at least three strategic objectives for each of the following four balanced scorecard areas
identified above (Financial, Customer, Process, Learning and Growth). Your objectives should be
selected, in part, based on an evaluation of a number of potential alternatives to the issues
and/or opportunities identified in the SWOTT Analysis paper and table you completed in Week
Three. Base your solutions on a ranking of alternative solutions that includes an identification of
potential risks and mitigation plans, and a stakeholder analysis that includes mitigation and
contingency strategies. You should also incorporate the ethical implications of your solutions into
your selection.
For each strategic objective, develop a metric and target using a balanced scorecard
format. (For example, a strategic objective in the shareholder or Financial Perspective is to
increase market share. A metric to actually measure this strategic objective of market share
increase is, "The percentage of increase in market share." The target is the specific number
to be achieved in a particular time period. The target for the metric of "Increase market share"
could be "Increase market share by 2% for each of the next 3 years" of an increase of 2% per
year for 3 years.)
Write a 700- to 1,050-word summary that explains your critical thinking on how you derived your
objectives from your vision, mission, values, and SWOTT analysis.
Develop a generic communications plan and template. This template will be used to
develop a communication plan for your Final Strategic Plan, due in Week Five.
What things should be taken into consideration in the creation of a roadmap for a strategic plan?
What areexamples of external and internal change agents? What role do change agents play in
the execution of a road map for a strategic plan?
BUS 475 Week 5 Individual Assignment Final Strategic Plan and Presentation
Resources: Vision, mission, values, SWOTT analysis, balanced scorecards, and communication
plan
Writea 700- to 1,050-word section for your strategic plan in which you add your strategies and
tactics to implement and realize your strategic objectives, measures, and targets. Include
marketing and information technology strategies and tactics. Develop at least three methods to
monitor and control your proposed strategic plan, being sure to analyze how the measures will
advance organizational goals financially and operationally. Finally, recommend actions needed to
address ethical, legal, and regulatory issues faced by the organization, and how they can
improve corporate citizenship.
Combineyour completed strategic plan. This includes the vision, mission, values, SWOTT
analysis, balanced scorecard, and communication plan. Your consolidated final strategic plan
should be 2,800 to 4,200 words in length.
Preparethree to five Microsoft PowerPoint slides, in which you briefly outline the vision, mission,
values, and balanced scorecard that you have developed for your business.
1) Which one of the following items is not generally used in preparing a statement of cash flows?
A. Adjusted trial balance
B. Comparative balance sheets
C. Additional information
D. Current income statement
2) One of Astro Company's activity cost pools is machine setups, with estimated overhead of
$150,000. Astro produces sparklers (400 setups) and lighters (600 setups). How much of the
machine setup cost pool should be assigned to sparklers?
A. $150,000
B. $60,000
C. $90,000
D. $75,000
3) Of the following companies, which one would not likely employ the specific identification
method for inventory costing?
A. Music store specializing in organ sales
B. Antique shop
C. Farm implement dealership
D. Hardware store
4) Which one of the following is a product cost?
A. Indirect labor
B. Sales persons salaries
C. Office salaries
D. Advertising costs
5) The conceptual framework developed by the Financial Accounting Standards Board
__________.
A. was approved by a vote of all accountants
B. is viewed as providing a constitution for setting accounting standards for financial reporting
C. are rules that all accountants must follow
D. is legally binding on all accountants
6) What is the preparation of reports for each level of responsibility in the companys organization
chart called?
A. Static reporting
B. Exception reporting
C. Responsibility reporting
D. Master budgeting analysis
7) The cost principle requires that when assets are acquired, they be recorded at __________.
A. appraisal value
B. selling price
C. exchange price paid
D. list price
8) If a company reports a net loss, it __________.
A. will not be able to make capital expenditures
B. will not be able to get a loan
C. may still have a net increase in cash
D. will not be able to pay cash dividends
9) The major reporting standard for management accounts is __________.
A. generally accepted accounting principles
B. relevance to decisions
C. the Standards of Ethical Conduct for Practitioners of Management Accounting and Financial
Management
D. the Sarbanes-Oxley Act of 2002
10) The primary purpose of the statement of cash flows is to __________.
A. facilitate banking relationships
B. provide information about the cash receipts and cash payments during a period
C. provide information about the investing and financing activities during a period
D. prove that revenues exceed expenses if there is a net income
11) Managerial accounting __________.
A. places emphasis on special-purpose information
B. pertains to the entity as a whole and is highly aggregated
C. is concerned with costing products
D. is governed by generally accepted accounting principles
12) A well-designed activity-based costing system starts with __________.
A. analyzing the activities performed to manufacture a product
B. assigning manufacturing overhead costs for each activity cost pool to products
C. identifying the activity-cost pools
D. computing the activity-based overhead rate
13) Balance sheet accounts are considered to be __________.
A. nominal accounts
B. capital accounts
C. temporary stockholders accounts
D. permanent accounts
14) As Plant Controller, you are trying to determine which costs over which you have the most
control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations
Manager suggests that overhead is the easiest area to directly reduce costs. Which of the
following items would be classified as manufacturing overhead?
A. Cost of landscaping the corporate office
B. The western divisions vice presidents salary
C. General corporate liability insurance
D. Factory janitor
15) There are two types of markets in which firms face some competition yet are still able to have
some control over the prices of their products. The names given to these market structures are
__________.
A. perfect competition and monopolistic competition
B. duopoly and imperfect competition
C. duopoly and triopoly
D. monopolistic competition and oligopoly
16) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
A. borrower who demands money from the financial system
B. borrower who supplies money to the financial system
C. saver who supplies money to the financial system
D. saver who demands money from the financial system
17) A tax on an imported good is called a __________.
A. supply tax
B. trade tax
C. tariff
D. quota
18) Lucy starts her own psychiatric practice, but her expenditures to open the practice exceed
her income. Lucy is a __________.
A. borrower who demands money from the financial system
B. borrower who supplies money to the financial system
C. saver who supplies money to the financial system
D. saver who demands money from the financial system
19) One characteristic of an oligopoly market structure is:
A. firms in the industry have some degree of market power.
B. firms in the industry are typically characterized by very diverse product lines.
C. the actions of one seller have no impact on the profitability of other sellers.
D. products typically sell at a price that reflects their marginal cost of production.
20) When, in a particular market, the law of demand and the law of supply both apply, the
imposition of a binding price ceiling in that market causes quantity demanded to be __________.
A. less than quantity supplied
B. greater than quantity supplied
C. double the quantity supplied
D. equal to quantity supplied
21) When a firm sells a good or a service, the sale contributes to the nations income
__________.
A. only if the buyer of the good or service is a household or another firm
B. only if the buyer of the good or service is a household
C. We have to know whether the item being sold is a good or a service in order to answer the
question
D. whether the buyer of the good or a service is a household, another firm, or the government
23) Most economists use the aggregate demand and aggregate supply model primarily to
analyze __________.
A. the effects of macroeconomic policy on the prices of individual goods
B. short-run fluctuations in the economy
C. productivity and economic growth
D. the long-run effects of international trade policies
24) In the market for foreign-currency exchange in the open economy macroeconomic model, the
amount of net capital outflow represents the quantity of dollars __________.
A. supplied for the purpose of buying assets abroad
B. supplied for the purpose of selling assets domestically
C. demanded for the purpose of importing foreign goods and services
D. demanded for the purpose of buying U.S. net exports of goods and services
40) One of the most important contributors to total quality management has been the introduction
of statistical tools to analyze the causes of product defects in an approach called:
A. Mechanistic
B. Six Sigma Quality
C. Organic
D. Total quality integration
E. ISO 9000
41) Your roommate is interested in starting a business and everybody has been giving him
different information about being an entrepreneur. Since you have been studying about
entrepreneurship and new ventures, which of these would you tell him is true?
A. Successful entrepreneurs take very careful, calculated risks
B. Anyone can start a business
C. All entrepreneurs need venture capital in order to get started
D. Entrepreneurs are their own bosses and completely independent
E. Money should not be considered a start-up ingredient
42) Jolly Blue Giant Health Insurance (JBGHI) is concerned about rising lab test costs and would
like to know what proportion of the positive lab tests for prostate cancer are actually proven
correct through subsequent biopsy. JBGHI demands a sample large enough to ensure an error of
2% with 90% confidence. What is the necessary sample size?
A. 1,692
B. 609
C. 2,401
D. 1,604
43) In a right-tail test, a statistician came up with a z test statistic of 1.469. What is the p-value?
A. .0708
B. .0301
C. .4292
D. .0874
44) Twelve randomly-chosen students were asked how many times they had missed class during
a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, the median is _____.
A. 3.5
B. 3
C. 2.5
D. 2
45) Twelve randomly-chosen students were asked how many times they had missed class during
a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, the standard deviation is approximately _____.
A. 3.75
B. 4.55
C. 4.75
D. 3.03
46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual
property crimes per 100,000 persons) and Income (median income per capita). His estimated
regression equation was Crime = 428 + .050 Income.
Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in
2005 with
Y = number of robberies in each city (thousands of robberies) and
X = size of police force in each city (thousands of police)?
A. Autocorrelation.
B. High R2 (due to city size).
C. No correlation.
D. Positive slope (due to city size).
47) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain
type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life
of 37.8 hours with a standard deviation of 5.4 hours.
In determining the p-value for reporting the study's findings, which of the following is true?
A. The p-value is less than .05.
B. The p-value is equal to .05.
C. The p-value cannot be determined without specifying .
D. The p-value is greater than .05.
48) In an activity-on-node [AON] network, the nodes represent ____________, whereas the arcs
represent ____________.
A. precedence relationships; time
B. events; activities
C. activities; time
D. activities; precedence relationships
49) Theoretically, service capacity must exceed demand, lest queues become infinitely long. If
capacity does not exceed demand, what is likely to happen?
A. All of these
B. Servers will eliminate time-consuming portions of their jobs, thereby increasing capacity.
C. Customers will renege or balk, thereby reducing demand.
D. Servers will decrease time spent per customer, thereby increasing capacity.
50) Queuing models use an A/B/C notation. What do these variables represent?
A. minimum time between arrivals/minimum allowable service time/minimum number of parallel
servers
B. maximum time between arrivals/maximum allowable service time/maximum number of parallel
servers
C. distribution of time between arrivals/distribution of service times/number of parallel servers
D. average time between arrivals/average service time/number of parallel servers
51) In a network diagram, an activity:
A. must always have a single, precise estimate for the time duration.
B. should always be something the company has had experience with.
C. is the largest unit of work effort consuming both time and resources that a project manager
can schedule and control.
D. is the smallest unit of work effort consuming both time and resources that a project manager
can schedule and control.
52) Suppose the estimated quadratic model Yt = 500 + 20 t - t2 is the best-fitting trend of sales of
XYZ Inc. using data for the past twenty years (t = 1, 2,.., 20).
Which statement is incorrect?
A. Sales are increasing by about 20 units per year.
B. The turning point would be in period 10.
C. The trend was higher in year 10 than in year 20.
D. Latest year sales are no better than in year zero.
53) Which of the following statements is correct?
A. Advances in information technologies have not affected individual privacy
B. An individuals right to privacy is absolute
C. It is difficult to determine and enforce privacy regulations
D. An individuals right to privacy supersedes the needs of society
E. The Internet has increased individuals privacy
54) The Global, Web-Based Platform enables individuals to do which of the following?
A. produce and sell goods and services
B. connect, compute, communicate, collaborate, and compete everywhere and all the time
C. access information, services, and entertainment
D. exchange knowledge
E. all of these are true
55) It is very difficult to manage data for which of the following reasons?
A. data security is easy to maintain
B. amount of data stays about the same over time
C. data are scattered throughout organizations
D. decreasing amount of external data needs to be considered
E. data are stored in the same format throughout organizations
56) Success in the _____ phase of the decision making process results in resolving the original
problem, and failure leads to a return to previous phases.
A. implementation
B. choice
C. design
D. intelligence
E. consideration
57) When customers access a Web site and make purchases, they generate __________.
A. Web data
B. Tracking cookies
C. Information
D. Clickstream data
E. Hyperlink data
58) _____ is the efficient and effective execution of specific tasks.
A. Expertise
B. Operational control
C. Management control
D. Strategic planning
E. Wisdom
59) Geocoding is __________.
A. integrating organizational transactions with spatially oriented databases
B. integrating maps with spatially oriented databases and other databases
C. encrypting spatial information
D. accessing geographical information
E. programming spatially oriented databases
60) Information-based industries are most susceptible to which one of Porters five forces?
A. threat of substitute products
B. bargaining power of suppliers
C. bargaining power of customers
D. rivalry among existing firms in an industry
61) International Game Technologys new ERP system produced all of the following benefits
except:
A. The company gained flexibility in manufacturing products
B. Integrated the companys business functions
C. Company was able to maintain its original business processes
D. ERP system connected the companys global operations
E. Operations employees were able to access manufacturing process details at their workstations
62) Credit card companies would most likely use which of the following to check for fraudulent
credit card use?
A. Data mining
B. Expert systems
C. Neural networks
D. Multidimensional data analysis
E. Structured query language
63) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It
will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required
rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer
to the nearest $10.)
A. $570
B. $900
C. -$150
D. $490
64) Your company is considering an investment in a project which would require an initial outlay
of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You
have determined that the current after-tax cost of the firms capital (required rate of return) for
each source of financing is as follows:
Cost of debt 8%
Cost of preferred stock 12%
Cost of common stock 16%
Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and
common stock 70%. What is the net present value of this project?
A. $871
B. $1,241
C. $1,568
D. $463
65) The common stockholders are most concerned with:
A. the size of the firms beginning earnings per share.
B. the risk of the investment.
C. the spread between the return generated on new investments and the investors required rate
of return.
D. the percentage of profits retained
66) Tri State Pickle Company preferred stock pays a perpetual annual dividend of 2 1/2% of its
par value. Par value of TSP preferred stock is $100 per share. If investors required rate of return
on this stock is 15%, what is the value of per share?
A. $15.00
B. $16.67
C. $6.00
D. $37.50
67) Which of the following is most consistent with the hedging principle in working capital
management?
A. Fixed assets should be financed with short-term notes payable.
B. Inventory should be financed with preferred stock.
C. Accounts receivable should be financed with short-term lines of credit.
D. Borrow on a floating rate basis to finance investments in permanent assets.
68) At what rate must $400 be compounded annually for it to grow to $716.40 in 10 years?
A. 5%
B. 7%
C. 8%
D. 6%
69) PepsiCo calculates unlevered betas for each peer group in order to:
A. eliminate competitive factors.
B. eliminate judgment factors.
C. eliminate different financial risks.
D. eliminate different business risks.
70) According to the hedging principle, permanent assets should be financed with _____
liabilities.
A. spontaneous
B. current
C. fixed
D. permanent
71) Bondholders have a priority claim on assets ahead of:
A. shareholders.
B. investors
C. creditors.
D. common and preferred stockholders.
72) Which of the following represents an attempt to measure the earnings of the firms operations
over a given time period?
A. Balance sheet
B. Income statement
C. Quarterly statement
D. Cash flow statement
73) Given the following annual net cash flows, determine the IRR to the nearest whole percent of
a project with an initial outlay of $1,520.
Year Net Cash Flow
1 $1,000
2 $1,500
3 $ 500
A. 48%
B. 32%
C. 28%
D. 40%
74) Bell Weather, Inc. has a beta of 1.25. The return on the market portfolio is 12.5%, and the
risk-free rate is 5%. According to CAPM, what is the required return on this stock?
A. 20.62%
B. 14.37%
C. 15.62%
D. 9.37%
75) You hold a portfolio with the following securities:
Security Percent of Portfolio Beta Return
X Corporation 20% 1.35 14%
Y Corporation 35% .95 10%
Z Corporation 45% .75 8%
80) __________ is a marketing management aid which refers to how customers think about
proposed and/or present brands in a market.
A. Customer relationship management (CRM)
B. Market segmentation
C. Brand familiarity
D. Positioning
E. Market scanning
81) When doing "positioning," a marketing manager should:
A. exclusively use focus groups.
B. plan physical product changes rather than image changes.
C. avoid targeting strategies.
D. focus on specific product features of all generic competitors.
E. rely on how customers think about proposed and/or existing brands in a market.
82) In comparison to the buying of final consumers, the purchasing of organizational buyers:
A. is always emotional.
B. is even less predictable.
C. is strictly economic and not at all emotional.
D. is always based on competitive bids from multiple suppliers.
E. leans basically toward economy, quality, and dependability.
83) The clustering techniques that can be used in segmenting:
A. looks for differences between groups of people.
B. group people together based on age.
C. eliminate the need for management intuition and judgment.
D. group people together into heterogeneous product-market segments.
E. try to find similar patterns within sets of data.
84) A firm's "marketing mix" decision areas would NOT include:
A. Place.
B. Product.
C. Promotion.
D. People.
E. Price.
85) Comparing GDP for foreign countries can help a marketing manager evaluate potential
markets if the manager remembers that:
A. Other countries most likely dont use the US Dollar as their primary currency.
B. GDP measures show the degree of competition in a market.
C. GDP measures show people's tendency to buy particular products.
D. income tends to be evenly distributed among consumers in most countries.
E. GDP estimates may not be very accurate for very different cultures and economies.
86) Regarding organizational buying, the people who have the power to select or approve the
supplier--especially for larger purchases--are called:
A. users.
B. gatekeepers.
C. influencers.
D. deciders.
E. buyers.
87) Clustering techniques applied to segmenting markets __________.
A. is time consuming and expensive
B. remove the need for managerial judgment
C. eliminate the need for marketing managers to specify in advance what dimensions might be
relevant for grouping consumers
D. usually require computers to group people based on data from market research
E. doesnt apply to demographic data
88) Justin was hired in February of 2004 as a salesperson. There is no written employment
contract, and Justin is paid on a commission basis. Justins manager has said to Justin on
several occasions that if Justin continues to meet his sales quotas, that the company will keep
him around for a long time. Justin has always met his sales quotas, but is told one day that they
have decided to replace him because he does not project the image that the company wants. If
Justin is an at-will employee, which of the following is true?
A. The statements by the manager could likely give Justin contract rights that could amount to an
exception to the at-will doctrine.
B. Because there is no written employment contract, the employer can terminate Justin.
C. The employer can terminate Justin only if the employer would suffer a loss by not terminating
him.
D. As an at will employee, there are no restrictions on the employer terminating Justin.
E. The employer would not be able to fire Justin on the basis of public policy.
89) Which of the following is correct about litigating commercial disputes?
A. Businesses generally dislike the concept of specialized trail courts for commercial disputes
because the large numbers of consumers who sue businesses in these courts have led the
judges to become generally biased against business.
B. Commercial disputes, because of their specialized nature, are first heard at the appellate court
level.
C. A few states have established specialized trial courts for commercial disputes.
D. Nearly all states have specialized trial courts that hear commercial disputes.
E. In all states, commercial disputes must be heard in a limited-jurisdiction court.
90) Which article of the United States Constitution deals with the judicial power of the federal
government?
A. Article IV.
B. Article II.
C. Article III.
D. Article I.
E. Article V.
91) Mary arrived at work one day, and her boss said to her, Thats the ugliest dress I have ever
seen. Because you wore that to work today, you are fired. Assuming that Mary is an at-will
employee, which of the following is true?
A. Mary can be fired only if it is in the best interest of the employer.
B. Mary can be fired for any reason.
C. If Mary has the will to work, she cannot be fired without cause.
D. If none of the exceptions to the at-will rule apply, Mary can be fired.
92) Which of the following is true about the Sherman Act?
A. A business can be liable under either Section 1 or Section 2 without any agreement with
another party.
B. Liability under Section 1 for restraint of trade requires agreement with another party, but
liability under Section 2 for monopolization does not.
C. Liability under Section 2 for monopolization requires agreement with another party, but liability
under Section 1 for restraint of trade does not.
D. Liability under either Section 1 or Section 2 requires agreement with another party.
93) If the value of the collateral is less than the debt owed to the secured party, then:
A. The secured party gets to take some other property as collateral so his entire debt is secured.
B. The secured party is unsecured for the excess of debt over the value of the security.
C. The secured party loses the excess of debt over the value of the security.
D. The secured party is still secured for the entire debt owed him.
E. The secured party is unsecured for the entire debt.
94) If you are a creditor, your best protection in the event of the debtors bankruptcy (including
protection from the debtors other creditors) is usually obtained if you had previously received:
A. A security interest granted by the debtor.
B. A written promise from the debtor to pay the debt as agreed.
C. Audited financial statements of the debtor.
D. The debtors agreement to pay you first.
95) Which of the following terms is not required to be disclosed under the Truth-in-Lending Act?
A. The amount of attorneys fees to be charged if legal action is needed to collect the debt.
B. The number of payments.
C. The amount of late charges or delinquency penalties.
D. The date the finance charge begins to accrue.
E. The annual percentage rage of interest.
96) Which of the following lists, in descending priority, of sources considered by most courts in
settling questions of international law?
A. Conventions, comity, customs, general principles of law
B. Conventions, treaties, comity, customs
C. Treaties, customs, conventions, comity
D. Treaties, customs, general principles of law, judicial decisions and teachings
E. Treaties, customs, conventions, comity
98) Although the U.S. has had a longstanding agreement with _____ after the passage of
NAFTA, _____ became the United States' second largest trading partner.
A. Mexico, Canada
B. Mexico, Venezuela
C. Great Britain, Paraguay
D. Canada, Mexico
E. Canada, Venezuela
99) One study found that manufacturing labor costs about _____ an hour in China, compared to
_____ dollars in the United States.
A. Less than $1; about 25
B. $2; about 25
C. Less than $1; about 40
D. About $2; about 15
E. Less than $1; about 15
100) Which country does the text describe as becoming the largest producer and consumer of
many of the world's goods?
A. Mexico
B. China
C. Ecuador
D. Canada
E. Japan