Prelim 1 2003 (Answers) - AEM 220 Introduction to Business...

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AEM 220 Spring 2003 Introduction to Business Management Pedro D. Perez Page 2 of 11 SECTION I: Multiple Choice (40 questions, 1 point each) 1. More than half of working people in the U.S.A. a. Work for somebody else b. Are employed in agriculture c. Are entrepreneurs d. Have a postgraduate education e. None of the above 2. A key characteristic of entrepreneurs is that they: a. Are willing to accept the risks involved in starting and managing a business; b. Have a high level of scientific and technical expertise; c. Possess a great deal of personal wealth; d. Have experience in running large, complex organizations; e. All of the above. 3. Last year, MacTeck Enterprises had total sales of $24 million while its total costs and expenses were $22 million. Based on this information, MacTeck: a. Earned a profit of $2 million b. Earned a profit of $24 million c. Earned a profit of $46 million d. Suffered a loss of $2 million e. Suffered a loss of $22 million 4. Which of the following is not a social change associated with the rise of businesses during the XIX century? a. Better nutrition b. Industrial revolution c. Consolidation of the nation state d. Ecologist movement e. All of the above are changes associated with the rise of business in the XIX century. 5. An attempt by employees, management, or a group of investors to purchase an organization primarily through borrowing is called a(n): a. Merger b. Acquisition c. Joint venture d. Leveraged buyout e. None of the above.
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AEM 220 Spring 2003 Introduction to Business Management Pedro D. Perez Page 3 of 11 6. Which of the following are stakeholders in a business? a. Customers
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Prelim 1 2003 (Answers) - AEM 220 Introduction to Business...

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