mgt411 midterm paper fall 2010

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Marks: 69
Question No: 1 ( Marks: 1 ) - Please choose one
Which of the following is/are the component/s of business?
► Industry
► Commerce
► Both industry and commerce
► Trade and aids to trade

Ans1) trade and aid to trade
Question No: 2 ( Marks: 1 ) - Please choose one
The notice calling the annual general meeting must be given to all its members at least _______________ days before the date of the meeting.
► 21 days
► 30 days
► 45 days
► 51 days
Ans 2) 21 days

Question No: 3 ( Marks: 1 ) - Please choose one
The portion of capital kept at the winding up of a company for the payment of debts is known as:
► Reserve capital
► Issued capital
► Subscribed capital
► Authorized capital
Ans3)

Question No: 4 ( Marks: 1 ) - Please choose one
Which of the following statements is false?
► Franchising is very common.
► A franchise enables one to use a larger company's trade name.
► A franchisee never has to pay the franchiser a percentage of sales revenues.
► A franchise may constrain the franchisee's independence.

Question No: 5 ( Marks: 1 ) - Please choose one
Business success can be attributed to:
► Luck.
► Hard work, drive and dedication.
► A high demand for the good or service produced.
► All of the given options

Ans 5) All of the given options

Question No: 6 ( Marks: 1 ) - Please choose one
A concept that implies that the firm should consider issues such as protecting the consumer, paying fair wages, maintaining fair hiring practices, supporting education, and considering environmental issues is:
► Financial management
► Profit maximization
► Social responsibility
► Agency theory

Question No: 7 ( Marks: 1 ) - Please choose one
The MBTI is a personality test that has been used to select candidates who will more likely engage in organizational citizenship behaviors at work. However, critics of this test suggest that the results can change over time as a person's personality develops. Therefore the MBTI personality test may be:
► Legal but not valid
► Valid but not reliable
► Reliable but not valid
► Reliable but not legal

Question No: 8 ( Marks: 1 ) - Please choose one
__________ is the process used by organizations to attract a qualified pool of job applicants.
► Socialization
► Human resource planning
► Recruitment
► Affirmation action

Question No: 9 ( Marks: 1 ) - Please choose one
Profit sharing, gain sharing and pay-for-knowledge plans are examples of:
► Individual incentives
► Company-wide incentives
► Cafeteria benefit plans
► Merit salary systems

Question No: 10 ( Marks: 1 ) - Please choose one
Which of the following statements is NOT true about services?
► They are experienced, used or consumed.
► They are often sold first, then consumed.
► They are perishable.
► They are tangible.

Question No: 11 ( Marks: 1 ) - Please choose one
Possession utility is provided when:
► A good or service is obtained and there is a right to use or consume it.
► A product is available where someone wants it.

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