Question 1

Using data about buying preferences and customer profiles allows management to do all of the following except

Accepted Answer

A)  make decisions about how best to serve the customer. 
B)  make better inventory decisions. 
C)  offer lower prices. 
D)  provide individualized customer service. 
E)  enhance buying selections. 
A)  make decisions about how best to serve the customer. 
B)  make better inventory decisions. 
C)  offer lower prices. 
D)  provide individualized customer service. 
E)  enhance buying selections.

Question 2

A business model represents a ____ in a business situation.

Accepted Answer

A)  group of common characteristics and behaviors 
B)  shared focus on customers 
C)  shared focus on suppliers 
D)  shared focus on profits 
E)  group of shared values 
A)  group of common characteristics and behaviors 
B)  shared focus on customers 
C)  shared focus on suppliers 
D)  shared focus on profits 
E)  group of shared values

Question 3

Academic Standard, Inc. (ASI)
Academic Standard, Inc. (ASI), sells its products through the Internet. Amanda is one of the biggest buyers of the company's products for her business. Nearly all of the interactions between Amanda's company and ASI have been electronic, saving both time and energy.
Although transaction costs are reasonable, ASI has encountered financial problems with high production costs. Jonathan, a veteran employee of ASI, suggested to senior management that certain aspects of production may need to be handled by other, more efficient companies. Jonathan also suggested that the company might want to create a physical store to possibly increase its visibility and potential profits. He explained many disadvantages of operating solely through the Internet.
-Refer to Academic Standard, Inc. Jonathan suggested that the company ____ part of production.

Accepted Answer

A)  import 
B)  export 
C)  outsource 
D)  supply-chain 
E)  barter 
A)  import 
B)  export 
C)  outsource 
D)  supply-chain 
E)  barter

Question 4

Jason has to purchase specialized software that will allow his company to accept credit cards online for purchases from his company's Web site. This software is a(n) ____ resource for this e-business.

Accepted Answer

A)  financial 
B)  material 
C)  intangible 
D)  human 
E)  capital 
A)  financial 
B)  material 
C)  intangible 
D)  human 
E)  capital

Question 5

Americans comprise ____ percent of all Internet users.

Accepted Answer

A)  9 
B)  11 
C)  16 
D)  29 
E)  42 
A)  9 
B)  11 
C)  16 
D)  29 
E)  42

Question 6

The cost to create and distribute photos, videos, and podcasts should be a consideration when deciding to participate in media sharing.

Accepted Answer

A) True 
 B)False

Question 7

Objectives in a social media plan need to be specific as well as linked to clear actions that can be used to accomplish each objective.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following specialized business models would perform e-business activities to generate revenues by matching online buyers and sellers to facilitate exchanges?

Accepted Answer

A)  Advertising e-business model 
B)  Brokerage e-business model 
C)  Subscription e-business model 
D)  Pay-per-transaction e-business model 
E)  C2B e-business model 
A)  Advertising e-business model 
B)  Brokerage e-business model 
C)  Subscription e-business model 
D)  Pay-per-transaction e-business model 
E)  C2B e-business model

Question 9

There is one clear, agreed-upon definition of social media among experts, users, and anyone in the social media field.

Accepted Answer

A) True 
 B)False

Question 10

"Spectators" read blogs, listen to podcasts, and read online forums.

Accepted Answer

A) True 
 B)False

Question 11

Globalization, convergence of technologies, and demographic forces are considered external forces that affect e-business.

Accepted Answer

A) True 
 B)False

Question 12

KPIs are

Accepted Answer

A)  quantitative measurements that define and measure the progress toward social media objectives. 
B)  the benchmarks that a company sets for themselves. 
C)  quantitative measurements that measure the profitability of a social media plan. 
D)  qualitative measurements that define and measure the progress toward social media objectives. 
E)  measurements submitted online to vendors and customers for analysis. 
A)  quantitative measurements that define and measure the progress toward social media objectives. 
B)  the benchmarks that a company sets for themselves. 
C)  quantitative measurements that measure the profitability of a social media plan. 
D)  qualitative measurements that define and measure the progress toward social media objectives. 
E)  measurements submitted online to vendors and customers for analysis.

Question 13

The growth of the Internet has created some new customer needs that did not exist before the creation of the Internet.

Accepted Answer

A) True 
 B)False

Question 14

____ is considered a social networking site for professionals.

Accepted Answer

A)  Pinterest 
B)  MySpace 
C)  Google+ 
D)  LinkedIn 
E)  Facebook 
A)  Pinterest 
B)  MySpace 
C)  Google+ 
D)  LinkedIn 
E)  Facebook

Question 15

What percentage of all Internet users are Americans?

Accepted Answer

A)  5 
B)  8 
C)  12 
D)  22 
E)  30 
A)  5 
B)  8 
C)  12 
D)  22 
E)  30

Question 16

Which of the following is the first step in building a social media plan?

Accepted Answer

A)  Listen to determine opportunities 
B)  Integrate the plan 
C)  Segment and target the social media customer 
D)  Select social media tools 
E)  Establish social media objectives 
A)  Listen to determine opportunities 
B)  Integrate the plan 
C)  Segment and target the social media customer 
D)  Select social media tools 
E)  Establish social media objectives

Question 17

____ is a piece of software sent by a Web site that tracks an individual's Internet use.

Accepted Answer

A)  Malware 
B)  A cookie 
C)  Data mining 
D)  Cloud computing 
E)  B2C 
A)  Malware 
B)  A cookie 
C)  Data mining 
D)  Cloud computing 
E)  B2C

Question 18

Which of the following is not an internal force affecting e-business?

Accepted Answer

A)  The firm's planning activities 
B)  The organizational structure of the firm 
C)  The economy 
D)  Management decisions 
E)  Available financing 
A)  The firm's planning activities 
B)  The organizational structure of the firm 
C)  The economy 
D)  Management decisions 
E)  Available financing

Question 19

Social media offers extensive, nearly full control over what is said about a company and/or their products or services.

Accepted Answer

A) True 
 B)False

Question 20

How can data mining be used by an Internet furniture company? Provide several specific examples.

Accepted Answer

Data mining can be used by an Internet f

Exam 16: Social Media, E-Business, and Accounting

Using data about buying preferences and customer profiles allows management to do all of the following except

A business model represents a ____ in a business situation.

Jason has to purchase specialized software that will allow his company to accept credit cards online for purchases from his company's Web site. This software is a(n) ____ resource for this e-business.

Americans comprise ____ percent of all Internet users.

The cost to create and distribute photos, videos, and podcasts should be a consideration when deciding to participate in media sharing.

Objectives in a social media plan need to be specific as well as linked to clear actions that can be used to accomplish each objective.

Which of the following specialized business models would perform e-business activities to generate revenues by matching online buyers and sellers to facilitate exchanges?

There is one clear, agreed-upon definition of social media among experts, users, and anyone in the social media field.

"Spectators" read blogs, listen to podcasts, and read online forums.

Globalization, convergence of technologies, and demographic forces are considered external forces that affect e-business.

KPIs are

The growth of the Internet has created some new customer needs that did not exist before the creation of the Internet.

____ is considered a social networking site for professionals.

What percentage of all Internet users are Americans?

Which of the following is the first step in building a social media plan?

____ is a piece of software sent by a Web site that tracks an individual's Internet use.

Which of the following is not an internal force affecting e-business?

Social media offers extensive, nearly full control over what is said about a company and/or their products or services.

How can data mining be used by an Internet furniture company? Provide several specific examples.

Exploring the World of Business and Economics

A: Being Ethical and Socially Responsible

B: Being Ethical and Socially Responsible

A: Exploring Global Business

B: Exploring Global Business

Choosing a Form of Business Ownership

Small Business, Entrepreneurship, and Franchises

Understanding the Management Process

Creating a Flexible Organization

Producing Quality Goods and Services

Attracting and Retaining the Best Employees

Motivating and Satisfying Employees and Teams

Enhancing Union-Management Relations

Building Customer Relationships Through Effective Marketing

A: Creating and Pricing Products That Satisfy Customers

B: Creating and Pricing Products That Satisfy Customers

Wholesaling, Retailing, and Physical Distribution

Developing Integrated Marketing Communications

Using Management and Accounting Information

Understanding Money, Banking, and Credit

Mastering Financial Management

A: Understanding Personal Finances and Investments

B: Understanding Personal Finances and Investments

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