BUSN 201 Exam 3 Questions With Revised
Answers
Mission statement - answera formal summary of the aims and values of a company,
organization, or individual
Core Values - answera. are the fundamental beliefs of a person or organization
b. also help companies to determine if they are on the right...
Mission statement - answer✔✔a formal summary of the aims and values of a company,
organization, or individual
Core Values - answer✔✔a. are the fundamental beliefs of a person or organization
b. also help companies to determine if they are on the right path and fulfilling their goals by
creating an unwavering guide.
Which of the following is not one of the four primary functions of management? -
answer✔✔Budgeting
_________ planning means identifying those aspects of a business that are most likely to be
adversely affected by change. - answer✔✔Contingency
A ______ organization groups together people who have comparable skills and perform similar
tasks. - answer✔✔Functional
Your FICO score will be ________ - answer✔✔Average if it is in the 600-700 point range
Which of the following questions would you not ask yourself if you were engaging in financial
planning? - answer✔✔Would I have been better off if I had purchased a car rather than leased it?
The financial planning life cycle divides an individual's life into three stages. In stage 2, the
focus of individual financial planning turns to the process of _______. - answer✔✔Preserving
and increasing wealth
Paula Gordon just completed an important job interview as an applicant. She is home now. What
should she do? - answer✔✔Send a thank you note (or email) to the interviewer/company
With ______, the interest earned on your savings is added to the money in your savings account,
and the new total (principle plus interest) earns more interest. - answer✔✔Compound interest
A good way to approach your financial goals is by dividing them into three time frames: -
answer✔✔short-term (less than 2 years), intermediate-term (2-5 years) and long-term (more than
5 years)
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