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Q1: Which one of the following has been the most important source of equity capital in the UK, in terms of the value of finance raised, over recent decades

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Answer: Retained profit

Q2: The London Stock Exchange can reasonably be described as being

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Answer: Both a primary and a secondary capital market

Q3: Which one of the following courses of action would not be a source of internal finance

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Answer: reducing trade payables

Q4: Which of the following items is not a criticism of the five forces model
i) The analysis is essentially static, whereas industries constantly change.
ii) No force is deemed more important than the others.
iii) In viewing all the forces as threats it does not allow for co-operation.
iv) It stresses the environment to the exclusion of internal influences on strategy.
v) The model was developed in the 1970s and is now obsolete

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Answer: v) The model was developed in the 1970s and is now obsolete

Q5: Which of the following reasons for adopting a customer-driven strategy are supported by empirical evidence?
i) Loyal customers generate more profit because they account for more sales and are less sensitive to price increases.
ii) Attracting new customers costs three to five times more than retaining existing ones.
iii) All good product ideas come from customers.
iv) Retaining more of the existing customers can dramatically increase profits.
v) Developing relationships with customers boosts sales.

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Answer: i) Loyal customers generate more profit because they account for more sales and are less sensitive to price increases.ii) Attracting new customers costs three to five times more than retaining existing ones.iv) Retaining more of the existing customers can dramatically increase profits.

Q6: Which of the following problems have been levelled at SVA
i) It totally ignores some types of assets (e.g. people).
ii) It relies on an accurate measure of the cost of capital.
iii) It encourages short-termism.
iv) It promotes an overly simplistic view of the business as number based.
v) It is difficult to apply at the business unit level.

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Answer: i) It totally ignores some types of assets (e.g. people).ii) It relies on an accurate measure of the cost of capital.iii) It encourages short-termism.v) It is difficult to apply at the business unit level.

Q7: According to Terry Hill, operations strategy has two major contributions to make to corporate strategy. Which of the following are they?
i) It aims to provide manufacturing and related processes that will give the organisation competitive advantages over competition.
ii) It is a route to differentiation of the firm’s product or service.
iii) It supplies co-ordinated support for products so that they will win sales orders in a competitive marketplace.
iv) It offers a means of integrating manufacturing into the other functional areas of the business.
v) It provides a means of ensuring the competitiveness of manufacturing operations so that they are the equal of competitors’ capability.

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Answer: i) It aims to provide manufacturing and related processes that will give the organisation competitive advantages over competition.iii) It supplies co-ordinated support for products so that they will win sales orders in a competitive marketplace.iv) It offers a means of integrating manufacturing into the other functional areas of the business.

Q8: Which of the following stages should form part of an organisation’s risk assessment in relation to a proposed strategy?
i) Make an explicit assessment of the risks.
ii) Communicate the risks to all concerned.
iii) Explore contingencies that will lessen the impact if things go wrong.
iv) Decide whether the risks are acceptable to the organisation.

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Answer: i) Make an explicit assessment of the risks.iii) Explore contingencies that will lessen the impact if things go wrong.iv) Decide whether the risks are acceptable to the organisation.

Q9: Which of the approaches to implementation noted below are suggested by variations in the two factors affecting implementation?
i) Comprehensive implementation programmes.
ii) Incremental implementation programmes.
iii) Planned implementation programmes.
iv) Selective implementation programmes.

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Answer: i) Comprehensive implementation programmes.ii) Incremental implementation programmes.iv) Selective implementation programmes.

Q10: Which of the following criteria can be used in deciding on the allocation of resources between the competing demands of SBU in the organisation?
i) The contribution of the proposed resources towards the fulfilment of the organisation’s mission and objectives.
ii) The support of key strategies.
iii) The return on investment forecast.
iv) The level of risk associated with a specific proposal.

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Answer: i) The contribution of the proposed resources towards the fulfilment of the organisation’s mission and objectives.ii) The support of key strategies.iv) The level of risk associated with a specific proposal.

Q11: What, according to Harvard Professor Rosabeth Moss Kanter, can organisations do to encourage innovation?
i) Publicise and take pride in existing achievements.
ii) Provide support for innovative initiatives.
iii) Improve communication across the enterprise by creating cross-functional activities.
iv) Reduce layers in the hierarchy and give more authority to those lower down in the structure.
v) Buy in highly qualified technical staff from competitor organisations.
vi) Publicise company plans and give those lower down a chance to contribute ideas and get involved in the process.

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Answer: All except (v) i.e. i) Publicise and take pride in existing achievements.ii) Provide support for innovative initiatives.iii) Improve communication across the enterprise by creating cross-functional activities.iv) Reduce layers in the hierarchy and give more authority to those lower down in the structure.vi) Publicise company plans and give those lower down a chance to contribute ideas and get involved in the process

Q12: What specific aspects of an organisation’s environment are critical to the design of its structure?
i) Rate of change.
ii) Extent of government regulation.
iii) Degree of complexity.
iv) Market complexity.
v) Competitive situation.

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Answer: All except ii)

Q13: Changes in which of the following areas did Tichy identify as the main causes of strategic change?
i) Environment.
ii) Business relationships.
iii) The organisation’s past performance.
iv) Technology.
v) People.

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Answer: i) Environment.ii) Business relationships.iv) Technology.v) People.

Q14: Unbeknownst to Jerry Allison, the seasoned industrial engineer, his boss is surreptitiously watching him work at random intervals and records the following.
Task # Observations
Performing time study 23
Chatting with colleagues 3
Surfing the web 4
What percentage of time is Jerry performing his time study?

View Answer

Answer: 76.7 per cent

Q15: Which of the following might be a reason (or reasons) for an organisation withdrawing from a particular market?
i) Declining product life cycle.
ii) Over-extension of the product range.
iii) Holding company sales of subsidiaries.
iv) To raise funds for investment elsewhere.

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Answer: All of these

Q16: The prescriptive model of strategy development makes a number of simplifying assumptions that may not be valid in reality. Which of the following are examples of such assumptions?
i) The environment is predictable.
ii) Clear, conflict-free, planning processes are possible.
iii) Strategy development should be a top-down process.
iv) The process is independent of the organisation’s culture.

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Answer: All of these

Q17: Why might individuals resist organisational change?
i) Lack of interest.
ii) Pessimism.
iii) Anxiety.
iv) Irritation.
v) Opposing strategy proposals.
vi) Personal ambitions.

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Answer: All of these

Q18: The value set for α is known as

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Answer: the significance level

Q19: Which of the following values is not typically used for α

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Answer: 0.25

Q20: A Type I error probability is represented by α it is the probability of incorrectly rejecting a null hypothesis that is true.

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Answer: Correct – True

Q21: A wide variety of graphical and statistical methods to plan work activities, collect data analyze results, monitor progress, and solve problems are called Quality Tools

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Answer: Correct – True

Q22: Business is a game of skills which everybody cannot play who said

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Answer: Emerson

Q23: Comparing document to each other to determine whether they provide the same information or reach the same conclusion is known as___

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Answer: Corroboration

Q24: Cost of Quality is one of the QA principals

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Answer: Correct – True

Q25: Data encryption and the destruction of records to ensure that they are not stolen or abused refers to which of the following technical functionality

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Answer: Customer privacy considerations

Q26: Demographics refers to the age, gender, occupation, income, and education of the audience

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Answer: True – Answer

Q27: Diversity Management is a strategy to promote the perception, acknowledgement and implementation of diversity in organizations and institutions

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Answer: Correct – True

Q28: Do your paragraphs have clear topic sentences? is a question to ask yourself during the third pass through a rough draft

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Answer: False – Answer

Q29: For Consideration in contract management means

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Answer: there must be an exchange of things

Q30: Goods are sold, not bought would be consistent with which of the following

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Answer: high pressure selling

Q31: Innovation is the ‘super star’ of entrepreneurship who said

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Answer: Peter F Drucker

Q32: Internal communication refers to

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Answer: exchange of information and ideas within an organization

Q33: Junk phone calls are a problem that seems to be on the increase. In response, the view of the Direct Marketing Association is that

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Answer: We want to target people who want to be targeted.

Q34: Justified margins are flush on the left and flush on the right

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Answer: True – Answer

Q35: Mission is the fundamental work given by the society to an organization who said

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Answer: Koontz and O’Donnell

Q36: Please wait until I’m finished is more likely to be said in a high-context than a low-context culture

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Answer: False – Answer

Q37: Problem factoring refers to breaking down a problem into a series of logical, connected questions that try to identify cause and effect

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Answer: True – Answer

Q38: Process of forecasting, developing and controlling human resource as enterprise is called as

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Answer: HR planning

Q39: Qualitative research involves

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Answer: questioning to obtain in-depth open-ended responses

Q40: Quality is defined by the customer is

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Answer: A user-based definition of quality

Q41: Reliability Engineering is not among the QA principals

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Answer: Wrong – False

Q42: Revision is an example of a camouflaged verb

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Answer: True – Answer

Q43: seed plot is a Latin word which means

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Answer: Seminar

Q44: Strategic management as the formulation and implementation of plans and carrying out of activities relating to the matters which one of vital pervasive or continuing importance to the total organization who said it

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Answer: Sharplin

Q45: Strategic management is a stream of decisions and actions which leads to the development of an effective strategy or strategies to help achieve corporate objectives who said

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Answer: Jauch and Glueck

Q46: Strategy as a pattern in streams of decisions and actions who said

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Answer: Henry mintzberg

Q47: Strategy is the pattern of objectives, purpose or goals and major policies and plans for achieving these goals, stated in such a way, so as to define what business the company is in or to be and the kind of company it is or is to be who said

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Answer: Andrews

Q48: The entrepreneur is more than a manager. He or she is an innovator and promoter as well who said it

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Answer: Forrest H Frantz

Q49: The goal is the necessary equipment for conducting of professional units in important fields , the flight of management will be aimless without this because there will neither be any signs nor any early familiar way to know the way who said

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Answer: Peter F Drucker

Q50: ‘A significant relationship was found between neuroticism scores and scores on the happiness scale: those with higher neuroticism scores gained lower scores on the happiness scale’. What kind of relationship is described here

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Answer: A negative correlation

Q51: ‘An area of the self-concept that is so central that a person will not give it up even if forced to make a difficult choice’ is a definition of

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Answer: Career anchor

Q52: ‘Count and recount’ allowances give resellers discount on

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Answer: stock sold during the promotion period

Q53: ‘That personal leverage can replace corporate leverage’ is assumed by

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Answer: MM Model

Q54: ‘That there is no corporate tax’ is assumed by

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Answer: All of these—(a) Net Income Approach (b) Net Operating Income Approach (c) Traditional Approach (d) All of these

Q55: ‘The number of words correctly recalled varied significantly according to age’. What kind of relationship is described here

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Answer: Cannot be determined from this description

Q56: (a) Economic information is usually scarce and costly to acquire.
(b) Economic information is usually not required for rational decision making

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Answer: Statement (a) is true but statement (b) is false

Q57: 3 major processes in Project HRM

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Answer: Organizational planning, staff acquisition and team development

Q58: 80percent of the problems are found in 20percent of the work is a concept of

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Answer: Pareto

Q59: A “three-day cooling off period” in which buyers can cancel a contract after rethinking the contract is designed to protect the consumer from

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Answer: high pressure selling

Q60: A 30-minute television program designed specifically to sell something is called a(n)

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Answer: infomercial

Q61: A balanced project portfolio may be interpreted to mean that a single portfolio contains both high and low risk, low growth and high growth, and risky and safe projects

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Answer: Wrong – False

Q62: A bank customer stops by her bank’s ATM to withdraw money from her checking account. In this case, who is the primary business actor

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Answer: the bank customer

Q63: A bank customer stops by her bank’s ATM to withdraw money from her checking account. In this case, who is the primary system actor

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Answer: the bank customer

Q64: A barber cannot inventory haircuts___means that services cannot be stored for a later sale or use

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Answer: Service perishability

Q65: A baseline___

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Answer: Is used as the standard against which change induced by the treatment is assessedb. Is the occurrence of a response in its freely occurring or natural statec. Is first obtained prior to the administration of a treatment—all of these are true

Q66: A big part in managing service differentiation is in the company’s service delivery

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Answer: Correct – True

Q67: A body of information that can be directly applied to the performance of tasks is___

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Answer: knowledge

Q68: A bond buyer is a

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Answer: saver. Bond buyers may sell their bonds prior to maturity.saver. Long term bonds have more risk than short term bonds

Q69: A bond is a

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Answer: certificate of indebtedness

Q70: A bond that never matures is known as a

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Answer: perpetuity

Q71: A brand manager is responsible for all the decisions relating to a specific brand

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Answer: Correct – True

Q72: A brand uses to identify and distinguish goods in

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Answer: trade mark

Q73: A brand whose perceived performance falls below expectations generally produces___

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Answer: dissatisfaction

Q74: A brief write-up of what the job is all about is___

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Answer: job summary

Q75: A broad statement of the purpose, scope, duties and responsibilities of a particular job is___

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Answer: job description

Q76: A broad, general and written statement of a specific job based on the findings of an analysis is called as___

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Answer: Job Description

Q77: A budget deficit

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Answer: changes the supply of loanable funds

Q78: A budget surplus

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Answer: reduces the government’s debt

Q79: A business plan___

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Answer: All of these—a. Explains the entrepreneur’s vision in writing b. Demonstrates implementation c. May function as financing proposal or investment prospectus

Q80: A business reality that makes effective project management critical is the fact that

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Answer: product life cycles are compressing

Q81: A business relationship established by two ore more companies to cooperate out of mutual need and to share risk in achieving a common objective

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Answer: strategic international alliance

Q82: A businesses mission is the foundation for all of the following except

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Answer: employee wage rates D

Q83: A candidate key may be a single attribute or a concatenated key

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Answer: True – Answer

Q84: A candy bowl contains 8 red M&Ms, 5 blue and 3 yellow. If 2 M&Ms are selected randomly, what is the probability that one will be blue and one will be yellow

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Answer: 12.5 percent

Q85: A career cannot be defined as a sequence of separate but related work activities that provides continuity, order and meaning in a person’s life

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Answer: Wrong – False

Q86: A carefully conceived financing package is often a proposal requirement

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Answer: Correct – True

Q87: A cell is a combination of two or more___in a factorial design

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Answer: Independent variables

Q88: A census taker often collects data through which of the following

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Answer: Interviews

Q89: A certain type of computer costs USD1,000, and the annual holding cost is 25percent. Annual demand is 10,000 units, and the order cost is USD150 per order. What is the approximate economic order quantity

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Answer: 110

Q90: A certificate of indebtedness that specifies the obligations of the borrower to the holder is called a

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Answer: bond

Q91: A challenge of qualitative data analysis is that it often includes data that are unwieldy and complex; it is a major challenge to make sense of the large pool of data

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Answer: Correct – True

Q92: A change in the tax laws that increases the supply of loanable funds will have a smaller effect on investment when

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Answer: the demand for loanable funds is more inelastic and the supply of loanable funds is more elastic

Q93: A channel alternative is described by three elements: the types of available business intermediaries, the number of intermediaries needed, and the___

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Answer: terms and responsibilities of each channel member

Q94: A chart of accounts is use to

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Answer: Report financial information in the ledger

Q95: A check list box is an advanced input control that is useful for combining several check boxes in situations where several boxes may be applicable

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Answer: True – Answer

Q96: A checking deposit functions as

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Answer: a medium of exchange and as a store of value

Q97: A checklist screening model does not consider

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Answer: whether one criterion is more important than another

Q98: A class responsibility collaboration (CRC) card is a popular tool for documenting the software logic that is executed in response to a message

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Answer: False – Answer

Q99: A class that contains business-related information and implements the analysis classes is a(n)

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Answer: entity class

Q100: A class that takes data pertaining to a business event and translates the data for appropriate presentation to the user would be a(n)

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Answer: interface class