MGT353-Midterm

1. It is the responsibility of the board of directors and its audit committee to engage an independent accounting firm to audit the financial statements prepared by management

True

False

2. Many experts have raised ethical questions about the ways RFID technology enables businesses, governments, and criminals to gather information about presale, sales, and post‐sale activities

True

False

3. In the United States the government has tried to help narrow the digital divide by subsidizing Internet upgrades for schools and providing free cell phones to citizens in need

True

False

4. The Organization for Economic Cooperation and Development (OECD), representing 30 nations, issued a revised set of principles of corporate governance in 2004 to serve as a benchmark for companies and policymakers worldwide.

True

False

5. Cell phone technology has sometimes aided law enforcement in capturing criminals who were caught breaking into an automobile or store

True

False

6. High‐technology businesses, governments, and community groups acting together appear to be winning the battle of making technology more accessible to all people regardless of their race, income, education, age, or residence

True

False

7. According to Bill Joy, Sun Microsystems' chief scientist, by 2030, we are likely to build machines a million times as powerful as the personal computer of today.

True

False

8. In U.S. vs. O'Hagen, the court ruled that someone who traded on the basis of inside information when he or she knew the information was confidential was guilty of misappropriation.

True

False

9. When boards of directors meet without management present, they are more likely to have completely candid discussions about a company's affairs.

True

False

10. Most Americans mistakenly believe that if a website has a privacy policy that those sites are not collecting or selling their personal information and online activities to others.

True

False

11. Honeypots are systems used by security professionals to lure hackers to a fabricated Web site where the hacker's every move can be tracked.

True

False

12. Nations have tended to move sequentially through each phase of technology, beginning with the lowest technology and moving higher with each step.

True

False

13. Since the 1960s, there has been phenomenal growth in the numbers of institutional investors in the United States.

True

False

14. Most genetically modified corn grown in the United States is made into animal feed or ethanol.

True

False

15. Most boards now staff their compensation committees exclusively with outside directors and permit them to hire their own consultants.

True

False

16. During the past few years, e‐business revenue has increased at a faster pace than that of traditional, or non‐electronic, business.

True

False

17. The dominant feature of technology is change and then more change.

True

False

18. The gap between those who have access to technology and those who do not is called the digital divide

True

False

19. Although technology is not the only cause of change in society, it is a primary cause.

True

False

20. Stock options represent the right to buy a company's stock at a set price for a certain period.

True

False

21. QR codes were developed by businesses in order to reach out to the increased numbers of smartphone customers

True

False

22. A pain or numbness in your thumbs caused by constant e‐mailing, messaging, or Internet surfing on hand‐held devices is called

BlackBerry thumb.

Cell phone thumb

PDA thumb.

None of the above.

23. Stockholders have become an increasingly powerful and vocal stakeholder group in corporations.

True

False

24. Software piracy is a spreading and global problem.

True

False

25. Human error by employees is a major factor of security breaches in the healthcare industry.

True

False

26. Booz & Company found a country's level of digitization is negatively correlated to its GDP.

True

False

27. The buying and selling of goods and services electronically is called:

M‐commerce.

E‐business.

Telecommunications.

Software piracy.

28. The current phase of technology is the service society.

True

False

29. The United States has the most Internet users than any other country.

True

False

30. The information phase of technology primarily requires:

Providing services

Intellectual and electronic skills.

Manual and machine skills

The same skills as needed in previous phases.

31. Which of the following countries is not one of the top 15 Internet users?

Singapore

UK

China

US

32. This term refers to the practical applications of science and knowledge to commercial and organizational activities.

Technology.

E‐commerce.

Agrarian.

Semantic.

33. This term refers to the practical applications of science and knowledge to commercial and organizational activities.

Technology.

E‐commerce.

Agrarian.

Semantic.

34. Shareholders must rely exclusively on the board of directors to protect their interests

True

False

35. M‐Commerce is facilitated primarily by:

Lap‐tops.

Personal computers.

Mobile or cell phones.

The government

36. Thanks to advancement in technology the number of instances of identity theft has been decreasing since 2006.

True

False

37. Technology is an unmistakable ethical force, but not an economic or social force, in the world where we live.

True

False

38. Recent technological advances have decreased the number of way that privacy violations may occur.

True

False

39. The activism of institutional shareholders has often worsened company performance

True

False

40. Streaming is illegal and in violation of The Digital Millennium Copyright Act of 1998.

True

False

41. The self‐reinforcing feature of technology means that:

Civilization develops at an uncontrollable pace.

Developing economies demand newer and larger innovations

Technology acts as a multiplier to encourage is own faster development.

An invention in one place is localized only.

42. Technology is an unmistakable ethical force, but not an economic or social force, in the world where we live

True

False

43. Corporation's stockholders have a right to inspect the company's books for any reason

True

False

44. Investors always choose to invest in the stock of companies that pay high dividends

True

False

45. Institutional investors have little incentive to hold their shares and organize to change management policy.

True

False

46. The phase of technology that focuses on building material goods and manual labor is:

Agrarian.

Service.

Industrial.

Information.

47. The phase of technology that focuses on building material goods and manual labor is

Agrarian.

Service.

Industrial.

Information.

48. The human genome is the application of engineering to create materials on a molecular or atomic scale.

True

False

49. The place where information is stored, ideas are described, and communication takes place in and through an electronic network of linked systems is called

The personal computer

Cyberspace.

Cloud computing.

Communication

50. The U.S. government launched a program to detect cyber assaults on private U.S. companies called "Hold‐off the Hacktivists."

True

False

51. Cloning of humans was beyond the focus of the United Nations 2005 declaration on cloning.

True

False

52. The self‐reinforcing feature of technology means that:

Civilization develops at an uncontrollable pace

Developing economies demand newer and larger innovations

Technology acts as a multiplier to encourage is own faster development.

An invention in one place is localized only

53. The responsibility of managing technology with its many privacy and security issues for business organizations is entrusted to the CEO.

True

False

54. The ratio of average executive to average worker pay tends to increase during recessions and fall back during periods of economic expansion.

True

False

55. In the nomadic‐agrarian phase of technology in society, people:

Hunted wild animals for meat

Gathered wild plants for food.

Provided services

Both A and B, but not C.

56. The three types of stockholders that own shares of stock in U.S. corporations are individuals, institutions, and government.

True

False

57. The use of publicly accessed servers to store users' text photos, videos and other data at remote sites, rather than on their own computers is called:

Business‐to‐business commerce.

Technology ripples.

Future shock.

Cloud computing.

58. Businesses generally discovered that the adoption of technology was a money‐saver rather than an expense in the short run.

True

False

59. A technological application that uses biological systems or living organisms to make or modify products or processes for specific use is called

Biosphere outcome

Metatechnology.

Biology

Biotechnology.

60. A "Trojan Horse" is a hijacked computer that can be remote‐controlled by the attacker to respond to the attacker's commands.

True

False

61. The use of publicly accessed servers to store users' text photos, videos and other data at remote sites, rather than on their own computers is called

Business‐to‐business commerce.

Technology ripples.

Future shock.

Cloud computing.

62. We are currently in which phase in the development of technology?

Industrial.

Service.

Information.

Semantic.

63. In the nomadic‐agrarian phase of technology in society, people:

Hunted wild animals for meat.

Gathered wild plants for food.

Provided services.

Both A and B, but not C.

64. Which of the following is not true about the service phase of technology?

It was the fourth phase in the development of technology

It emphasized providing services.

It required manual and intellectual skills.

It dominated from 1900 to 1960.

65. In 2011, 1.2 billion people worldwide used social networking sites

Once per hour.

Once per day.

Once per week.

Once per month.

66. Electronic business exchanges between businesses and businesses and between businesses and their customers emerged during the service phase of technological development.

True

False

Mgt353-midterm