#11 Understanding finance is not relevant for improving DEI to advance inclusive hiring and compensation practices, ensuring fairness and transparency in compensation. Understanding finance is not relevant for improving DEI to advance inclusive hiring and compensation practices, ensuring fairness and transparency in compensation.

True False

#12 How can understanding finance enhance the ability of business leadership and general management majors to conduct risk assessments for strategic decisions?

A) By eliminating the need for risk management

B) By analyzing the financial impact of strategic decisions, calculating required capital, and developing risk mitigation plans

C) By exclusively focusing on strategic planning

D) By avoiding risk assessments

#13 What is the primary purpose of financial analysis in established companies seeking to foster innovation?

A) To organize company-wide fitness challenges

B) To create a relaxing office environment with bean bag chairs

C) To host annual fashion shows for employees

D) To evaluate potential ventures, allocate resources effectively, and drive innovation

#14 If community members lack finance knowledge in a neighborhood with an abandoned park that requires revitalization, it can result in the continued deterioration of the park and negative impacts on the community's well-being.

True

False

#15 What is one potential consequence of lacking finance knowledge for a marketing major when allocating marketing budgets?

A) Access to unlimited marketing resources

B) Efficient budget allocation and prioritization of marketing channels

C) Rapid budget allocation without any challenges

D) Struggles in prioritizing marketing channels, allocating funds optimally, and measuring ROI

#16 How can understanding finance contribute to economic empowerment within ethnic communities?

A) By avoiding economic challenges altogether

B) By guiding community members in financial literacy, helping them access loans or grants, and promoting entrepreneurship

C) By eliminating the need for financial resources

D) By focusing solely on cultural preservation

#17 If a supply chain analyst use finance expertise when conducting cost analyses for supplier selection, it creates struggles in evaluating supplier proposals, calculating total cost of ownership, and making informed supplier selections.

True

False

#18 Why is it important for organizations to use finance knowledge to foster inclusion and fairness in compensation practices?

A) To exclusively focus on financial profit

B) To avoid compensation practices altogether

C) To ensure transparency in pay structures and eliminate pay disparities

D) To promote pay disparities based on gender and race

#19 If a non-profit organization fails to demonstrate fiscal responsibility, it can lead to a decline in donations and donor trust as potential supporters may question the organization's financial management.

True

False

#20 What can happen if an auditor lacks finance expertise when examining complex financial instruments in a corporation's financial statements?

A) Struggles in understanding complex financial instruments, assessing their impact on financial statements, and identifying potential accounting issues

B) Access to unlimited auditing resources

C) Efficient examination of complex financial instruments and compliance with accounting standards

D) Rapid auditing without any challenges