WGU D080 FINAL EXAM WITH QUESTIONS AND
VERIFIED ANSWERS || ALREADY GRADED A+ |
GUARANTEED PASS | LATEST VERSION
2024/2025
A type of contract that allows one party to use another's property as their own without paying royalties for a designated length of time - ANSWER- licensing
A system where a business grants an entrepreneur the right to use their products, names, and processes in exchange for a percentage of the profits - ANSWER- franchising
An agreement between two companies to cooperate on the mutually beneficial project - ANSWER- strategic alliances
A new business built where no prior business existed, either physically or metaphorically or both - ANSWER- greenfield
Someone who supplies goods to businesses - ANSWER- distributor
The reasonable steps or research necessary before making an informed decision or evaluation - ANSWER- due diligence
A formal agreement on priorities, focus, and goals - ANSWER- strategic plan
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An individual is considering entering the global market via a franchise.Which outcome should be expected by the individual if this approach is used? - ANSWER- Majority of financial risk
A framework for cross-cultural communication, developed by Geert Hofstede that shows the effects of a society's culture on the values of its members, and how these values relate to behavior. - ANSWER- cultural dimensions
One of Hofstede's six dimensions of national culture. It describes how formal and authority-focused a society is. - ANSWER- Power distance
One of Hofstede's six dimensions of national culture. It measures how focused people are on their immediate circle at the expense of the greater group. - ANSWER- Individualistic
An American salesperson is attempting to do business in a Middle Eastern country.What is one of the major cultural issues the salesperson needs to understand about this part of the world? - ANSWER- It is more relationship-based than the United States.
A global company has warned managers that the country involved in their current business venture typically expects small payments to be made to government officials to expedite decisions and transactions. The company has encouraged managers to avoid this type of unethical practice.Which form of activity is the company concerned about? - ANSWER- Grease payments
The redundancies that are built into a system to make certain that it accurately maintains material statements - ANSWER- internal controls
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Accounting errors that occur unintentionally - ANSWER- Discrepancies
Misrepresentations of accounting data with the intention to defraud - ANSWER- irregularities
A control in which the company investigates and evaluates employees' compliance with company policies and procedures - ANSWER- Internal auditing
A person who exposes any kind of information or activity that is deemed illegal, unethical, or not correct within an organization - ANSWER- whistleblower
What is the purpose of internal controls? - ANSWER- To ensure the accuracy of a system's performance
How should a company ensure that internal controls are effectively implemented? - ANSWER- By performing due diligence with procedures
A company requires one employee to be responsible for maintaining a machine.Another employee is responsible for maintaining accounting records for that machine.Which internal control has the company implemented? - ANSWER- Segregating duties
Which of the following will cause shrinkage in accounting? - ANSWER- Petty theft
An international company has created a diagram to show the division of labor between departments.What is the name of this diagram? - ANSWER- Organizational chart 3 / 4
An international company wants to establish links between the people at the same level of the organization to form committees.What is the name for this type of link in a company? - ANSWER- Horizontal
Grouping a business's people, tasks, and resources into units - ANSWER- departmentalization
Organizing a company's people, tasks, and resources based on business functions such as marketing, production, and sales - ANSWER- Functional departmentalization
Which result occurs when a legally enforceable contract between two businesses from different countries is broken? - ANSWER- The party who has been affected can seek damages.
Which two primary sources of law govern contracts in the United States? - ANSWER- The common law and the Uniform Commercial Code
How is contract law structured as it applies to global business among nations? - ANSWER- Horizontal
Which condition is part of a contract between international companies that are based in different nations? - ANSWER- A choice of law clause
Which intellectual property right describes a chemical company's filing on their innovative industrial process invention? - ANSWER- Patent
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