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Final

MGTA04H3 Exam- 2008 Summer.docx


Department
Management (MGT)
Course Code
MGTA02H3
Professor
Chris Bovaird
Study Guide
Final

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MGTA04 - Introduction to Management
MANAGEMENT
Question 1 - Which of these basic ideas is correct?
Bookkeeping is the total system, what happens after that is not accounting.
Accounting collects information, analyzes it, and then gives it to people who need it.
Bookkeeping analyzes information.
Bookkeeping measures performance.
Accounting records information but cannot analyze it.
Question 2 - Users of accounting information include:
regulators.
unions.
controllers.
investors.
All of the above.
Question 3 - As you develop your new product you go through stages. The most correct order is:
screen, analyze, prototype.
test, screen, commercialize.
commercialize, research, screen.
prototype, service analysis, commercialize.
focus group, then observation.
Question 4 - Your performance in your part-time job has been so successful that the owner has
asked you to be marketing manager for one of the company's products when you graduate. When
you apply the marketing concept to your product, you will focus on:
the 4 Ps.
the customer and the 4 Ps.
just the customer.
profits and the customer.
the mix.

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Question 5 - If you became a professional accountant you would provide:
management services.
tax planning.
a check to make sure that the GAAP have been followed.
All of the above.
None of the above.
Question 6 - Long-term loans, corporate bonds, and preferred stock are all:
long-term financing.
equity financing.
short-term financing.
equally expensive.
stock exchange financing.
Question 7 - The basic equation that accounting rests on is:
A + L = E
E = A x L
L - E = A
L - A - B
A - L = E
Question 8 - One way you could start a small business is to purchase an existing company. If you
do that, you will:
owe the liabilities.
own the assets.
have some equity.
All of the above.
None of the above.
Question 9 - You work for a small company in your part-time job, and recently your boss asked
you to recommend how to collect some data about the market. Which of the following would be
the best recommendation?
secondary data and observation
experimentation and primary data
primary and secondary data

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collecting then analyzing
an online survey
Question 10 - In economic terms, which of the following defines utility?
synthetic, not natural products
a product that has multiple uses
Utility is a psychological construct, not an economic one.
need for energy and water
a want that is satisfied
Question 11 - Small business firms sometimes run into a cash crunch. Liquidity is, therefore,
critical and is:
depreciation.
a concern of the chartered central bank.
all the cash you have.
just the cash and the securities that you have in the bank.
the ease and speed with which an asset can be converted into cash.
Question 12 - The Bank of Canada:
is the central bank.
is run by the federal Finance Minister.
lends the chartered banks the money they need to operate.
is the largest investment dealer.
buys and sells debentures.
Question 13 - The current ratio is:
inventory/equity.
debt/equity.
current assets x current liabilities x 100.
quick assets/liabilities.
current assets/current liabilities.
Question 14 - Even if you are not an accountant, you deal with accounting issues, one of which is
a budget. A budget is:
a statement of revenues and costs.
internal.
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