midterm SAQ- 2011.pdf

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Published on 1 Jul 2012
School
UTSC
Department
Management (MGT)
Course
MGTA01H3
Professor
Page 1 of 10
University Of Toronto at Scarborough
MGTA03 - Introduction To Management I
Mid-Term Test October 29, 2011
Professors Hugh Laurence and Bill McConkey
MULTIPLE CHOICE QUESTIONS BOOK VERSION 1
Family Given
Name Name
(Please print NEATLY)
Student Number
INSTRUCTIONS
1. On the SCANTRON answer sheet:
PRINT your family name,
PRINT your given name
PRINT your student number
2. On the SCANTRON answer sheet
fill in all the appropriate bubbles corresponding to your name,
fill in all the appropriate bubbles corresponding to your student number
3. Instructions 1 and 2 (above) are an integral part of the examination. Failure to
comply with these simple instructions causes additional work, delay and
confusion. If you fail to complete the relevant sections of the SCANTRON sheet correctly
and fully, you will have 5 marks deducted from your grade on this exam!
4. When recording your answers on the SCANTRON sheet, make sure you:
a) Use a pencil
b) Fill in the SCANTRON bubbles neatly and completely
c) Erase any changes as completely as possible
d) Be very careful to place each answer in the correct space
5. You have 90 minutes to write the exam.
This booklet consists of 41 multiple-choice questions.
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MGTA03 Fall 2011 Midterm Examination
Version 1 Page 2 of 10
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the
question.
1) What is the version of the exam you are writing? (Correct Answer is A)
A) Version 1
B) Version 2
2) The number of Canadians employed by small businesses is approximately:
A) 10% of the total workforce
B) 20% of the total workforce
C) 50% of the total workforce
D) 98% of the total workforce
3) A public corporation:
A) has no restrictions on share transfer
B) is chartered by the federal government
C) is owned by all taxpayers in a country
D) is owned by the government, hence "public"
E) cannot have a majority shareholder
4) Five students wish to start a new business called “Computers-B-Us.” Each student is prepared to
invest the same amount and wants to share equally in the profits and management, while limiting
their liability. They would most likely start their business as a:
A) private corporation
B) public corporation
C) sole proprietorship
D) limited partnership
E) general partnership
5) Inflation rates in Africa for 2007 cover a wide range. They run from -8.8% in Chad to
10,453% in Zimbabwe. This means that in 2008:
A) Cash payments in the local currency in Chad must be spent immediately to be of any value
B) What cost 1 euro in Zimbabwe in 2007 costs 10,453 euros in 2008
C) Workers in Zimbabwe want to be paid in euros instead of Zimbabwe dollars
D) Consumer prices rose in Chad last year
E) There was a lively international trade in Zimbabwe dollars
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MGTA03 Fall 2011 Midterm Examination
Version 1 Page 3 of 10
6) Gilbert is considering setting up a business. He likes some of the advantages of sole
proprietorships, but is concerned about some of the disadvantages. He should consider all of
the following except:
A) difficulty in getting bank loans
B) unlimited liability
C) difficulty of liquidation
D) limited managerial and financial resources
E) difficulty of passing the business on to his heirs
7) Low unemployment can result in
A) increases in wage rates.
B) a shortage of labor.
C) neither of the above
D) both of the above
8) Statistics Canada has published the following figures for the CPI:
Year 2008 2009
Toronto 110.8 113.1
Montreal 110.3 112.5
From these figures, we can conclude:
A) Prices in Toronto are higher than in Montreal
B) Consumers in Montreal purchased slightly less in 2009 than those in Toronto
C) From 2008 to 2009, prices rose by about 2% in both Toronto and Montreal
D) It is more expensive to live in Montreal than in Toronto
9) Studio Inc. wants to make a film. To attract investors, Studio Inc. has set up a limited partnership to
make the film. Since the general partner of a limited partnership has unlimited liability, who should
Studio Inc. select as the general partner of the limited partnership?
A) Studio Inc.
B) The limited partner with the largest investment in the film project
C) A new corporation wholly owned by Studio Inc.
D) A public corporation with the investors as shareholders
E) The corporation in charge of filming
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Document Summary

On the scantron answer sheet (please print neatly) Instructions 1 and 2 (above) are an integral part of the examination. Failure to comply with these simple instructions causes additional work, delay and confusion. If you fail to complete the relevant sections of the scantron sheet correctly and fully, you will have 5 marks deducted from your grade on this exam! When recording your answers on the scantron sheet, make sure you: The number of canadians employed by small businesses is approximately: What is the version of the exam you are writing? (correct answer is a) They would most likely start their business as a: private corporation public corporation sole proprietorship limited partnership general partnership. Inflation rates in africa for 2007 cover a wide range. There was a lively international trade in zimbabwe dollars. From 2008 to 2009, prices rose by about 2% in both toronto and montreal. It is more expensive to live in montreal than in toronto.

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