PRACTICE EXAM

DLBBAB01_E 2836
EXAMID: 514126
MASTERSOLUTION

QUESTION 1 OF 10
Marked out of 3.00

ng
The consumer is …

ni
ar
Select one:

Le
boss.
king.
queen.

e
emperor.

nc
ta
The correct answer is: king.
is
D

QUESTION 2 OF 10
IU

Marked out of 3.00

am

Small and Medium-Sized Enterprises (SMEs) account for …

Select one:
Ex

more than 90 percent of the global working population.

e

60 percent of all investments worldwide

tic

more than 90 percent of businesses worldwide.

50 percent of all businesses worldwide.
ac

The correct answer is: more than 90 percent of businesses worldwide.

Pr

06.03.2022 1/5 (c) IU

 DLBBAB01_E 2836
EXAMID: 514126
MASTERSOLUTION

QUESTION 3 OF 10
Marked out of 3.00

g
in
Which of the following terms is not part of the four Ps of the marketing mix?

rn
Select one:

a
Le
Process
Promotion
Product

e
Price

nc
The correct answer is: Process
ta
is
D

QUESTION 4 OF 10
IU

Marked out of 3.00

am

Which country has a consistently high unemployment rate, low work force participation
and thus can benefit the most from digitalization and expanded online platforms for
recruiting?
Ex

Select one:
e

Greece
tic

India
Germany
ac

China
Pr

The correct answer is: Greece

06.03.2022 2/5 (c) IU

 DLBBAB01_E 2836
EXAMID: 514126
MASTERSOLUTION

QUESTION 5 OF 10
Marked out of 3.00

g
in
Choose the right order of legal entities according to the ascending degree of costs and
complexity of the business formation process.

a rn
Select one:

Le
1) A sole proprietorship, 2) a partnership and 3) a corporation.
1) A sole proprietorship, 2) a corporation and 3) a partnership.

e
1) A corporation, 2) a partnership and 3) a sole proprietorship.

nc
1) A partnership, 2) a corporation and 3) a sole proprietorship.
ta
The correct answer is: 1) A sole proprietorship, 2) a partnership and 3) a corporation.
is
D

QUESTION 6 OF 10
IU

Marked out of 3.00

am

In the era of Industry 4.0, which additional factor is added to the four common factors of
production?
Ex

Select one:
e

IT
tic

Know-how
Management
ac

Regulation
Pr

The correct answer is: Know-how

06.03.2022 3/5 (c) IU

 DLBBAB01_E 2836
EXAMID: 514126
MASTERSOLUTION

QUESTION 7 OF 10
Marked out of 3.00

g
in
In the US, publicly traded firms are subject to the regulatory environment of …

rn
Select one:

a
Le
the Securities and Exchange Commission.
the Federal Reserve.
the National Credit Union Administration.

e
the Department of the Treasury.

nc
ta
The correct answer is: the Securities and Exchange Commission.
is
D

QUESTION 8 OF 10
IU

Marked out of 6.00

am

SpaceX's success story began with the dream to be the first commercial spacecraft in
the world.
Using this example, name the definition of a mission statement of a company and
Ex

describe the difference to the vision statement of a company.

e
tic
ac

A mission statement defines what line of business a company is in (1 P), why it exists (1 P), and
what purpose it serves (1 P). Difference to the vision statement: the vision describes the desire in
Pr

the long run (1 P), up to five to ten years (1 P). The vision refers to the big picture of a company´s
business, the mission is the why and what for the current operating activities (1 P).

06.03.2022 4/5 (c) IU

 DLBBAB01_E 2836
EXAMID: 514126
MASTERSOLUTION

QUESTION 9 OF 10
Marked out of 8.00

g
in
Name the three main components of the organizational structure of corporations and
explain briefly their role in the corporation.

a rn
Le
e
The three main components: shareholders, directors and officers (each for 1 P). The shareholders

nc
own the company holding stock which gives them unique rights (1 P). They obtain voting rights,
and mostly have the right to receive a part of the profit or dividend (2 P). The directors create
ta
strategic goals, policies and procedures, control the CEO, bring in their expertise (1 P). The
officers are hired by the board of directors, e.g. the CEO, CFO, etc. (1 P)
is
D

QUESTION 10 OF 10
IU

Marked out of 10.00

am

Explain the roles and functions of management accountants.

Ex
e
tic

The primary role of management accountants is to support business managers and help them
make good business choices (2 P). They prepare detailed financial reports and forecasts for
ac

leadership inside the firm (2 P). The reports made by them are for internal use only (2 P). Their job
is to track and analyze financial data by constructing, implementing and managing a firm's internal
fiscal management systems (2 P). They aid performance management, strategic planning and risk
Pr

mitigation (2 P).

06.03.2022 5/5 (c) IU