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MGT 1104 Final Exam Review

Total questions: 40

Worksheet time: 20mins

Name
Class
Date
1.

A retailer introduces its own lower-priced brand of pantry items to compete with national brands. What strategy is this?

a)

Co-branding

b)

Private branding

c)

Multibranding

d)

Licensing

2.

A manager compares actual results with performance goals and adjusts workflows to improve outcomes. What management function is being used?

a)

Planning

b)

Leading

c)

Controlling

d)

Staffing

3.

When a nation exports more than it imports, it experiences what economic condition?

a)

Trade deficit

b)

Trade surplus

c)

Budget surplus

d)

Balance of payments neutral

4.

A company launches its newest tablet at a high price to attract early adopters before later reducing the price. What pricing strategy is being used?

a)

Penetration pricing

b)

Price skimming

c)

Dynamic pricing

d)

Value pricing

5.

A team that includes employees from marketing, finance, and HR working together on a project is what type of team?

a)

Virtual team

b)

Cross-functional team

c)

Problem-solving team

d)

Task force

6.

A worker files a formal complaint because they believe the employer violated their labor contract. This is known as what?

a)

Arbitration

b)

Mediation

c)

Grievance

d)

Lockout

7.

Interest calculated on both the initial principal and the previously earned interest is known as what?

a)

Simple interest

b)

Variable interest

c)

Compound interest

d)

Amortized interest

8.

A company that uses separate brand names for different product lines is practicing what branding strategy?

a)

Private branding

b)

Multibranding

c)

Family branding

d)

Brand licensing

9.

When the supply of a product is low and demand is high, what typically happens to price?

a)

Price decreases

b)

Price increases

c)

Price remains stable

d)

Price becomes unpredictable

10.

A company raises hotel room prices during a major city event because demand is high. This pricing approach is an example of what?

a)

Dynamic pricing

b)

Prestige pricing

c)

Loss leader pricing

d)

Cost-based pricing

11.

A business owned and operated by one person who has unlimited liability is known as what?

a)

Sole proprietorship

b)

Corporation

c)

General partnership

d)

Franchise

12.

A company pays for the right to operate under another firm’s business model and trademarks. What market entry method is this?

a)

Licensing

b)

Exporting

c)

Franchising

d)

Offshoring

13.

A leadership style where employees have freedom in how they complete tasks is known as what?

a)

Autocratic leadership

b)

Free-rein leadership

c)

Transformational leadership

d)

Democratic leadership

14.

A company adds more tasks at the same difficulty level to reduce boredom for an employee. What job design method is this?

a)

Job rotation

b)

Job specialization

c)

Job enrichment

d)

Job enlargement

15.

A third party who helps union and management negotiate but cannot impose a decision is acting as what?

a)

Arbitrator

b)

Mediator

c)

Facilitator

d)

Negotiator

16.

A company divides customers based on age, family size, or income. What type of segmentation is this?

a)

Psychographic

b)

Behavioral

c)

Demographic

d)

Geographic

17.

A report that shows revenues, expenses, and profit over a period of time is what financial statement?

a)

Balance sheet

b)

Cash flow statement

c)

Income statement

d)

Owner’s equity statement

18.

A company sells shoes at a very low price to attract customers into the store, expecting them to buy additional items. This is what pricing tactic?

a)

Loss leader pricing

b)

Penetration pricing

c)

Bundle pricing

d)

Prestige pricing

19.

A long sequence of tasks that determines how quickly a project can be completed is called what (hint: It's tracked on a PERT chart in manufacturing production)?

a)

Efficiency chain

b)

Task flow

c)

Critical path

d)

Resource route

20.

A person who invests personal money into early-stage companies in exchange for equity is known as what?

a)

Venture capitalist

b)

Angel investor

c)

Institutional investor

d)

Partner investor

21.

Ratios that measure a company's ability to pay short-term obligations belong to what category?

a)

Profitability ratios

b)

Liquidity ratios

c)

Leverage ratios

d)

Efficiency ratios

22.

Selling goods below production cost in a foreign market to gain market share is known as what?

a)

Dumping

b)

Licensing

c)

Franchising

d)

Outsourcing

23.

Providing employees greater responsibility, autonomy, and decision-making authority is known as what?

a)

Job enrichment

b)

Job rotation

c)

Job enlargement

d)

Job shifting

24.

A performance evaluation that gathers feedback from supervisors, peers, and subordinates is what technique?

a)

Graphic rating scale

b)

Forced ranking

c)

360-degree feedback

d)

Behavior checklist

25.

A company chooses suppliers based on environmental responsibility because it wants to support society. This demonstrates what?

a)

Legal compliance

b)

Corporate social responsibility

c)

Buyer cooperation

d)

Operational efficiency

26.

A company is analyzing how effectively it generates profit from resources such as assets and equity. What ratio category is it reviewing?

a)

Liquidity

b)

Efficiency

c)

Profitability

d)

Leverage

27.

A group of tasks performed at high volume, while still allowing customers to choose features, reflects what operations concept?

a)

Lean manufacturing

b)

Mass customization

c)

Mass production

d)

Flexible batching

28.

Refusing to buy a company’s products to pressure management during a dispute is an example of what?

a)

Strike

b)

Boycott

c)

Lockout

d)

Walkout

29.

Government uses taxation and spending to influence economic activity. This is what type of policy?

a)

Monetary policy

b)

Trade policy

c)

Fiscal policy

d)

Labor policy

30.

A company launches a new streaming service at a very low price to quickly gain subscribers. This is what pricing strategy?

a)

Price skimming

b)

Penetration pricing

c)

Dynamic pricing

d)

Prestige pricing

31.

When two companies combine and perform better together than separately, this benefit is called what?

a)

Consolidation

b)

Integration

c)

Synergy

d)

Reinforcement

32.

Materials are delivered to a factory exactly when they are needed for production. This is what inventory method?

a)

FIFO

b)

Just-in-time

c)

MRP

d)

Batch processing

33.

A company uses demographic, geographic, behavioral, and psychographic variables to divide potential buyers. This process is what?

a)

Target marketing

b)

Market segmentation

c)

Value propositioning

d)

Mass marketing

34.

Looks at how much borrowing a company has done in order to finance the operations of the

business.

a)

Efficiency ratios

b)

Liquidity ratios

c)

Debt ratios

d)

Activity ratios

35.

A neutral third party makes a binding decision to resolve a labor-management dispute. This process is called what?

a)

Mediation

b)

Arbitration

c)

Intervention

d)

Settlement review

36.

A company markets a new energy drink to people who value active, adventurous lifestyles. What segmentation type is this?

a)

Psychographic segmentation

b)

Behavioral segmentation

c)

Demographic segmentation

d)

Geographic segmentation

37.

A statement describing why an organization exists and what it aims to achieve is called what?

a)

Mission statement

b)

Strategic blueprint

c)

Corporate charter

d)

Organizational outline

38.

Using personal or confidential company information for personal financial gain in stock trading is called what?

a)

Insider trading

b)

Market hedging

c)

Financial arbitrage

d)

Stock manipulation

39.

Showing how revenues and expenses result in net profit is the purpose of what financial document?

a)

Statement of cash flows

b)

Balance sheet

c)

Income statement

d)

Retained earnings report

40.

Adding more meaningful responsibility, decision-making freedom, and challenge to a job is known as what?

a)

Job enrichment

b)

Job expansion

c)

Job rotation

d)

Job broadening