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PEREGRINE EXAM QUESTIONS AND ANSWERS
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PEREGRINE EXAM QUESTIONS AND ANSWERS
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PEREGRINE EXAM QUESTIONS AND ANSWERSWhat is a general ledger? - answer- a general ledger account is an account or record
used to sort, store and summarize a company's transactions.
Asset accounts such as cash, accounts receivable, inventory, investments, land, and
equipment
Liability accounts including notes payable, accounts payable, accrued expenses
payable, and customer deposits
Stockholders' equity accounts such as common stock, retained earnings, treasury stock,
and accumulated other comprehensive income
What is the difference between accounts payable and accounts receivable? - answer-
accounts payable is a current liability account in which a company records the amounts
it owes to suppliers or vendors for goods or services that it received on credit.
When the costs of supplies increase in an industry, the low-cost leader - answer- be the
only firm able to pay the higher prices and continue to earn average or above- average
returns.
Tqm is most helpful to firms following the ____ business strategy. - answer- integrated
cost-leadership differentiation
All of the following are considered extrinsic motivators in herzberg's two-factor theory
except: - answer- work itself
Which of the following is not one of the process motivation theories? - answer- acquired
needs theory
An individual who purchases a computer later decides to acquire a new motherboard. In
terms of computing gdp, this new motherboard would be a(n) - answer- final good
The largest component of gdp is - answer- consumption
In economics, firms are assumed to - answer- maximize profits
Holding everything else equal, total revenue increases - answer- when either price or
quantity increase
Government tactics that include removing incentives, demanding a higher share of
profits and taxes, and confiscating foreign assets are known as: - answer- expropriation
"people of the same trade seldom meet together, even for merriment and diversion, but
their conversation often ends in conspiracy against the public." this quote from adam
smith is referring to which of the following business relationship terms: - answer-
collusion
, ____ is a collection of facts organized so that they have additional value beyond the
value of the facts themselves. - answer- information
____ is the simulation of a real or imagined environment that can be experienced
visually in three dimensions. - answer- virtual reality
The federal highway administration uses notice-and-comment rulemaking. This process
begins with - answer- the publication of a notice of proposed rulemaking.
Kip opens an account at a lotsa goodies store, and buys a digital music player and other
items, but makes no payments on the account. To collect the debt, mako, the manager,
contacts kip's parents. This violates - answer- no federal law
The process of setting major organization objectives and developing plans to achieve
them is called: - answer- strategic planning
One way human resource planning links to strategic planning is by providing a set of
inputs into the: - answer- strategy formulation process
In the servqual instrument for measuring service quality, the concept of assurance is
associated with - answer- the ability to convey trust and confidence
Which of the following is not one of w. Edwards deming's 14 points? - answer- the only
performance standard is zero defects
A leading force currently driving change at work is: - answer- global competition
A questioning, probing attitude is at the core of: - answer- critical thinking
Which of the following is not a purpose of a marketing plan? - answer- it explains how
marketing activities mesh with other functional areas
In the context of marketing planning, why is it vital that the marketing plan be capable of
selling itself to top management? - answer- because top managers must decide
whether the marketing plan is the best use for the organization's scarce resources
Sensitivity analysis considers - answer- changes in the values of the payoffs.
A population characteristic, such as a population mean, is called - answer- a parameter
Operating statement is another name for which of the following? - answer- income
statement
An increase to which of the following accounts will increase owners' equity? - answer-
client fees
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