________________ involves calculating how much an individual or a company will have to pay

to the local and national governments.

a. Finance accounting
b. Management accounting
c. Cost accounting
d. Tax accounting
________________ are certificates of debt issued by governments or companies to raise money
a. Shares
b. Stocks
c. Dividends
d. Bonds
________________ are people of influence or importance with whom you are associated.
a. Collectivists
b. Connections
c. Intuition
d. Confrontation
________________ are the attributes or characteristics of a product, such as size, shape, quality,
price, reliability, etc.
a. Product life cycle
b. Product differentiation
c. Product elasticity
d. Product features
________________ companies focused their energies on changing customers' minds to fit the
product – practicing the ‘any color as long as it's black' school of marketing.
a. Technology-driven
b. Market-driven
c. Customer-driven
d. Sales-driven
________________ is a period of ending or relaxing of legal restrictions.
a. repossession
b. regulation
c. depositor
d. deregulation
________________ is an invented word combining worldwide and regional concerns.
a. Glocalization
b. Grobalization
c. Localization
d. Globalization
________________ is defined as anything owned by a business – cash, buildings, machines,
equipment, etc.
a. Turnover
b. Revenue
c. Liability
d. Asset
________________ is the loss of value of tangible assets.
a. Inventory
b. Depreciation
c. Amortization
d. Proceeds
________________ means setting a high price for a new product, to make maximum revenue
before competing products appear on the market.
a. Market opportunities
b. Market skimming
c. Market research
d. Market penetration
________________ offer interest-free banking. They do not pay interest to depositors or charge
interest to borrowers but invest in companies and share the profits (or losses) with their
depositors.
a. Investment banks
b. Islamic banks
c. Commercial banks
d. Private banks
A ________________ is a distribution of a portion of a company's earnings, decided by the
board of directors, to a class of its shareholders. It can be issued as cash payments, as shares of
stock, or other property.
a. loan
b. dividend
c. surplus
d. mortgage
A ________________ is a group of companies, operating in different fields, which have joined
together.
a. local marketplace
b. hedge fund
c. Islamic bank
d. conglomerate
A ________________ is a person who believes that the group is more important than the
individual.
 a. connection
b. confrontation
c. compromise
d. collectivist
A ________________ is defined as one with a higher-than-normal credit risk.
a. credit crunch
b. subprime borrower
c. credit crisis
d. subprime crisis
A balance sheet is a financial statement that ________________.
a. reflects the cash and revenue of a company.
b. reflects how much profit the company made in the year from selling their product.
c. reflects what the company owns, owes and what the shareholders put in as equity.
d. reflects how many goods were sold by the company and how many customers they have.
After an organization has ________________, it has to make sure that it achieves them.
a. set objectives
b. introduced innovations
c. allocated resources
d. considered the future
At the ________________ of the product life cycle the price is either maintained, or greatly
reduced to liquidate stock if the product is discontinued.
a. introduction stage
b. maturity stage
c. growth stage
d. decline stage
At the ________________ of the product life cycle, the product's features may have to be
changed so that it differs from competing brands, which involves new costs.
a. introduction stage
b. maturity stage
c. decline stage
d. growth stage
Banks make a profit by charging a higher rate of interest to borrowers than they pay to
________________.
a. retailers
b. collateral
c. regulators
d. depositors
Businesspeople in ________________ cultures such as Britain, the USA and Germany are
generally organized and rational, try to act logically rather than emotionally, plan in advance,
and like to do one thing at a time.
a. hyper-active
b. reactive
c. linear-active
d. multi-active
In order to be a good manager, you have to know how to lead people, how to motivate people,
and how to make sure that you are ________________.
a. meeting your targets
b. going your targets
c. looking your targets
d. seeing your targets
In terms of business across cultures, ________________ assume that rules should be applied to
everybody.
a. individualists
b. particularists
c. universalists
d. collectivists
Managers ________________ of their staff to see whether they are reaching their targets.
a. deal with the crisis
b. make the decisions
c. measure the performance
d. allocate the resources
Managers have to find the best way to allocate all the human, physical and capital
________________ available to them.
a. effects
b. values
c. materials
d. resources
Patents and trademarks are typical examples of ________________.
a. current assets
b. total equity
c. tangible assets
d. intangible assets
People in ________________ cultures often like to do many things at once.
a. multi-active
b. linear-active
c. reactive
 d. mixed
The possibility of providing a new product or service to satisfy particular needs is called
________________.
a. Market variation
b. Market opportunity
c. Market capitalization
d. Market channels
Throughout my career, I have ensured that my ________________ successfully executed the
strategies developed by senior management, delivered results and maximized revenue.
a. distributors
b. investors
c. subordinates
d. suppliers
Top managers have to be prepared to ________________ if they occur and then have to make
quick decisions.
a. perform tasks
b. deal with crises
c. set objectives
d. allocate resources
________________ helps to identify a product made by a particular producer and cannot be
legally used by anyone else.
a. A brand
b. A generic
c. A symbol
d. A trademark
________________ is referred to as a maximum quantity of goods of a specific kind that can be
imported into a country.
a. A tariff
b. A sales target
c. A quota
d. An output
________________ is referred to as basic systems and services such as transport and power
supplies.
a. Asset
b. Facilities
c. Superstructure
d. Infrastructure
________________ is referred to as government actions concerning taxation and public
expenditure.
 a. Tax policy
b. Economic policy
c. Monetary policy
d. Fiscal policy
________________ is the economic theory that supports governmental intervention in the
economy, to counteract the business cycle.
a. Friedman theory
b. Classical economic theory
c. Monetarism
d. Keynesianism
________________ means a country's ability to produce particular goods more efficiently than
some other countries.
a. Competitive advantage
b. Absolute advantage
c. Comparative advantage
d. Relative advantage
Unfettered free markets can ensure the long- term optimal ________________ of resources and
long- term economic growth.
a. calculation
b. collaboration
c. allocation
d. provision
________________ means restricting imports by way of trade barriers such as tariffs and quotas.
a. Consumerism
b. Protectionism
c. Strategic industry
d. Absolute advantage
________________ penalizes all income-generating activity, which makes everyone poorer.
a. Value-added tax
b. Inheritance tax
c. Capital gains tax
d. Income tax
A tax collected at each stage of production, excluding the already-taxed costs from previous
stages, is called a/an ________________.
a. value-added tax
b. added-value tax
c. capital gains tax
d. sales tax
WTO policies allow rich countries to ________________ heavily subsidized industrially
produced food in poor countries, which damages local production.
a. copy
b. dump
c. deny
d. protect
An economic system in which anyone can raise capital, form a business, and offer goods or
services is called ________________.
a. free corporate
b. free society
c. free enterprise
d. free expenditure
Countries where taxes are low, where multinational companies often set up their head offices, are
known as ________________.
a. tax havens
b. tax harbors
c. tax evasion
d. tax launderers
During a(n) ________________, parts of the economy expand to the point where they are
working at full capacity.
a. downturn
b. consumption
c. upturn
d. balance of payments
During a(n) ________________, the demand for goods and services will decline and the
economy will begin to work below its potential.
a. expansion
b. upturn
c. downturn
d. boom
Groups of people with a stake in or an interest in or a claim on the firm are called
________________.
a. stockholders
b. shareholders
c. stakeholders
d. bondholders
He also maintained that increases in public expenditure would lead to increased
________________ and higher unemployment.
a. proportion
 b. taxation
c. restriction
d. intervention
If the economy's turning down, it may make sense for governments to have ________________,
and to keep expenditure in the economy.
a. budget deficit
b. budget surplus
c. budget equilibrium
d. budget supply
It is clearly shown that their products are designed to ________________ profit rather than
behave according to consumer expectations.
a. localize
b. maximize
c. optimize
d. provide
Selling your company's secrets to a rival is called industrial ________________.
a. fraud
b. trading
c. pollution
d. espionage
The business cycle or trade cycle is a ________________ feature of market economies: GDP
alternately grows and contracts.
a. permanent
b. alternative
c. temporary
d. expansive
The community or outside society can be referred to as ________________ stakeholders.
a. external
b. interval
c. internal
d. extended
The company increased its production of the new shoes after a recent advertising campaign made
the ________________ for the product increase rapidly.
a. surplus
b. demand
c. trough
d. deficit
The contract requires managers ________________ to high standards of personal ethics.
 a. to conform
b. to maximize
c. to provide
d. to eliminate
The difference between the funds a country receives and those it pays for all internal transactions
is called ________________.
a. gross domestic product
b. equilibrium
c. balance of payments
d. consumption decisions
The fact that people start saving money and consuming less leads to a ________________ in
demand, production, and employment.
a. rise
b. fall
c. surplus
d. equilibrium
The model where companies have an obligation to maximize profits because shareholders expect
the maximum return on their investments is called ________________.
a. stockholder model
b. classical theory
c. stakeholder model
d. caveat emptor
The period during which radical innovations destroy established companies or industries is called
________________.
a. endogenous
b. technological invention
c. creative destruction
d. trough
The total market value of all the goods and services produced in a country during a given period
is called ________________.
a. balance of payments
b. gross domestic product
c. consumptions
d. demand decline
The upward and downward movement of aggregate output produced in the economy is referred
to as the ________________.
a. long-lasting recession
b. negative growth
c. monetary expansion
d. business cycle