QTKD part 1

The ________ is the difference between money flowing into a country from exports, and money leaving the country for imports, plus money flows coming from other factors such as tourism, foreign aid, military expenditures, and foreign investment.

• balance of trade

• balance of trade surplus

• balance of cash flows

• balance of payments

A job analysis results in two written statements. They are:

• the job title review and the performance appraisal.

• the human resource inventories and the affirmative action statement.

• the labor supply assessment and the labor demand assessment.

• the job description and the job specification.

__________ involves the review and evaluation of the records that are used to prepare the organization's financial statements.

• Auditing

• Managerial accounting

• Financial accounting

• Certified bookkeeping

Which of the following is an advantage of a partnership?

• Little time commitment

• Unlimited liability

• Ease of starting and ending the business

• Shared management and pooled skills

Fayol's ______ principle says that workers' attitudes can create an environment of pride and loyalty within an organization.

• esprit de corps

• hierarchy of loyalty

• equity

• unity of command

Which of the following nations has joined the U.S., Japan, and the EU as a key driver of the world economy?

• China

• Brazil

• Thailand

• Russia

The customers, employees, stockholders, suppliers, creditors, and others who stand to gain or lose by the policies and activities of a business represent the firm's:

• stakeholders

• economic environment

• social mentors

• market makers

Often it is the threat of negative publicity that pressures businesses to enforce their corporate code of ethics.

• True

• False

Gig started Giganeers to earn a profit, but by working hard and increasing his market share, he was able to create jobs for others. This is an example of the __________ concept.

• circular flow

• social dividend

• invisible hand

• equitable income

Ross wants to invest some money that he just inherited. He found that his bank offers a savings account paying a guaranteed 0.5% rate of return. However, he would like to earn a higher return. Ross should keep in mind that to earn a higher return on his money he:

• will have to invest overseas

• should invest in a business that has a very stable and predictable rate of return

• will probably have to engage in illegal activities

• will probably have to accept a higher level of risk