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The Fair Labor Standards Act A. Established the federal minimum wage. Legalized collective bargaining. Outlawed union shops D. Outlawed secondary...

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1. The Fair Labor Standards Act A. Established the federal minimum wage. B. Legalized collective bargaining. C. Outlawed union shops D. Outlawed secondary boycotts.     2.  Team diversity is often established in a_____ team, by bringing together the expertise of members from  various functions in the organization.                  A. Problem-solving                   B. Cross- functional                  C. Working                  D. Self-managed     3. Efficiency means producing_____using the least amount of    A. Capital; natural items. B. Goods; resources. C. Entrepreneurship; people. D. Human resources; time.      4. Television is an attractive advertising medium because it                      A. Provides instant feedback, which can be used to measure effectiveness.                   B. Offers mass coverage and flexibility.                  C. Offers a rapidly growing network audience. E. Is relatively inexpensive.         5. What prompted Congress to enact the Sarbanes-Oxley Act in 2002?                         A. Major companies requested government regulation following negative publicity.  B. Congress wanted to make accounting practices more efficient.                  C .A series of improper financial disclosures were found during investigations.                 D. Stockholders petititioned for increased access to financial records.     6. Student Betty says that physical distribution includes both transportation and storage. Student Bob says that  exchange includes both buying and selling. Which student is correct? A. Both B. Neither C. Bob only D. Betty only    7. _________ ratios measure the degree to which a firm relies on borrowed funds in its operations.  
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                A. Retail earning                 B. Earnings per share                 C. Wholesale earning   E. Leverage (debt)   8. Mario is part of a strategic planning team. He has identified that his company is the low-cost producer in its  industry. This should be listed on a SWOT analysis as/an   A. Strength B. Threat C. Opportunity D. Weaknesses   9. Camden Products buys a $500,000 machine by taking out a bank loan. The company’s assets will ______by  $500,000 while its liabilities will________by $500,000.   A. Fall; fall B. Fall; rise C. Rise; rise D. Rise; fall    10. Which of the following is  not  a method of retail competition?   A. Location B. Price C. Service D. Travel   11. Student A says that customer satisfaction is a mark of a world-class business. Student B says that proactive  ethics is a mark of a world-class business. Which student is correct?   A. Neither B. Both C. Student A only D. Student B only   12. If you seek to determine the value of one nation’s currency relative to the currencies of other countries, you  should isolate the nation’s
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