Business > EXAM > Fundamentals for Success in Business - WGU Questions and Answers 2022 (All)

Fundamentals for Success in Business - WGU Questions and Answers 2022

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Ethics: - ANSWER The principles that guide a person's behavior. Legal: - ANSWER An act that is allowed or is in conformity with the law of the land. This means that an act that is defined as illega... l is in defiance of the stated or established laws of a defined jurisdiction. Legal Ethical: - ANSWER When the law and personal or organizational ethics are in accordance with each other. Legal-Unethical: - ANSWER Dilemma in which established laws are not in accordance or do not uphold the ethical choice. Illegal-Ethical: - ANSWER Dilemma in which the ethical choice would be in violation of established laws. Personal Ethics: - ANSWER Codes, principles, and values that shape our interactions with others. Values: - ANSWER The stable goals that one has or life. Thing that are most important to the individual. Influenced by early life experiences. Morals: - ANSWER Sets of rules that individuals develop based on cultural norms and beliefs. Passed down through generations and characterize a cultural group. Organizational Ethics: - ANSWER A brand of applied ethics that focuses on rule, principles, and standards in the context of business activities. Explicit Values: - ANSWER A well crafted mission statement that clearly states the principles that can be widely shared. Leaders can refer to it to guide the creation of any new strategy or initiative and note its connection to the company's principles when addressing employees, thus reinforcing the broader ethical system. Thought During Judgment: - ANSWER In several experiments, people are more likely to tell the truth when an honor code came at the beginning of a form. Incentives: - ANSWER incentive programs must provide a variety of rewards to be effective. Companies that use pro social incentives are likely to produce happier, more satisfied, and more loyal employees. Cultural Norms: - ANSWER How peers actually behave, they tend to exert the most social influence. So if they are lying, cheating, or stealing, the employees will most likely do the same. Organizational Culture: - ANSWER The shared values, beliefs, and norms of an organization that affect the strategies and operating procedures of the business. CSR - ANSWER = Corporate Social Responsibility: Where a company voluntarily engages in actions that benefit society at large Stakeholders: - ANSWER Include the company's employees, unions, investors, suppliers, consumers, local and national governments and communities that me be affected by corporate activities such as construction, manufacturing, and pollution. Code of Ethics: - ANSWER A guide that publicly sets out an organization's key values and ethical obligations. Green washing: - ANSWER When organizations carry about CSR missions in an inauthentic way, using them to increase publicity rather than the spur real change. Internal Transparency: - ANSWER Degree to which an organization operates with openness, communication, and accountability. Whistleblowers: - ANSWER Those who tell the public or the authorities about alleged misconduct occurring in a government department, private company, or organization. Business Process Management (BPM): - ANSWER The management initiative to design work processes so that they align with the organization's strategic goals. Relationship Management: - ANSWER Involves strategies that govern how an organization maintains relationships with an audience. Individual Contributor: - ANSWER Someone who uses their personal skills to contribute to a team. Manager: - ANSWER someone responsible for a group of people, a department, or specific tasks within a company. The role of a manager is to focus on helping his or her employees improve and achieve results. Top Management: - ANSWER President, CEO, Executive Vice Presidents Middle Management: - ANSWER Plant managers, division manager, department managers. First-Line Management: - ANSWER Foreman, Supervisors, Office Managers Interpersonal Role: - ANSWER Focusing on building relationships and communication internally.Must be able to provide constructive feedback to their employees. Informational Role: - ANSWER Gathering, analyzing, and disseminating information to those both above and below them. Managers need to organize and analyze information related to the business. Decisional Role: - ANSWER Making decisions, allocating resources, and negotiating. They need to be able to react to situations and plan ahead to make effective decisions and implement strategies. Management Skills needed: - ANSWER Technical, Communication, and Analysis. Leadership: - ANSWER The activity of leading a group of people or an organization or the ability to do this. Formal Leaders: - ANSWER A person who is officially designated as the leader of a group. Informal Leaders: - ANSWER A person who is not officially appointed as the head of a group. Organizational Culture: - ANSWER The shred values, beliefs, and norms of an organization that affect the strategies and operating procedures of the business. Usually framed by the top leaders and sets the tone for how employees works and behave. CVF Model: - ANSWER Framework for assessing organizational culture and organizational dynamics. Hofstede Model: - ANSWER Evaluates cultures based on the dimensions of individualism, collectivism, power distance, and uncertainty avoidance. Collectivism: - ANSWER Exists in societies in which group goals and harmony are prioritized over self-interest and achievement. Clan: - ANSWER It tends to be more family oriented and flexible, less structured and has a more extensive hierarchy (e.g. Small start-up business.) Hierarchy: - ANSWER More internally focuses on internal processes and procedures and less flexible (e.g. Government agencies.) Market: - ANSWER Tends to be externally focused on competition and profits and less flexible (e.g. Security companies) Adhocracy: - ANSWER More flexible and responsive to external forces and is characterized as a dynamic, entrepreneurial, and creative workplace. (E.g. technology businesses) Organizational Structure: - ANSWER Refers to the framework or legal structure of the business, including the organizational chart, hierarchy structures, and formal system of roles and authority in a business. Mechanistic Organizational Structures: - ANSWER Best suites for stable environments that contain low uncertainty. Organic Organizational Structures: - ANSWER Work best in unstable, complex, changing environments such as high-tech industries. Attraction-Selection-Attrition (A-S-A): - ANSWER A theory that outlines how employees join and leave organizations, based on 3 interrelated dynamic processes: attraction, selections, and attrition. Attraction: - ANSWER Individuals are attracted to organizations which are like themselves in terms of personality and values. If employees join organizations out of attraction to their cultures, they are more likely to perform well. An employee who values competition may prefer to work for an organization in which individual and interdepartmental competition is the norm. Those who value interpersonal relationships may prefer to work in a team-oriented culture. Consider the type of organizational values you are attracted to. Selection: - ANSWER Organizations are more likely to select those who possess skills and values similar to the ones their existing members possess. Just as employees look for companies where they can fit in, companies are always on a quest to find employees who will fit into their current corporate culture. Many companies are hiring people for fit with their culture, as opposed to fit with a certain job. For example, Southwest Airlines prides itself on hiring employees based on personality and attitude rather than specific job-related skills. They prefer to teach employees after the hiring process. Attrition: - ANSWER Over time, those who do not fit in well are more likely to leave. Person-Organization misfit is one of the important reasons for employee turnover. Person-Organization Fit: - ANSWER Refers to the degree to which a person's values, personality, goals, and other characteristics match those of the organization. Person-Job Fit: - ANSWER The degree to which a person's skill, knowledge, abilities, and other characteristics match the job demands. Personality: - ANSWER Encompasses the feelings, thoughts, and behavioral patterns of a person. Big 5 Personality Traits (OCEAN): - ANSWER Openness - Adhocracy: curious, original, creative, open to new ideas.), Conscientiousness - Hierarchy: (Organized, punctual, dependable), Extraversion - Market: (Outgoing, Talkative, Sociable), Agreeableness - Clan Culture: (Tolerant, Sensitive, Trusting, Kind), Neuroticism (Anxious, irritable, and moody.) Communication: - ANSWER The process of understanding and sharing meaning. Effective Communication: - ANSWER Requires the message transmitted is interpreted by the receiver in the way it was intended by the sender. Communication fulfills 3 main functions: - ANSWER coordination, transmission of information, and sharing of emotions and feelings. Oral Communication: - ANSWER The process of expressing information through spoken words. Written Communication: - ANSWER Sending messages in the form of written words to convey information. Writing is often viewed as a more effort full, exacting process and less natural that the spoken word. Nonverbal Communication: - ANSWER Involves information transmitted without the use of spoken or written words. Includes: body language, tone of voice, facial expressions, and even silence. Channel: - ANSWER Means of passing information from sender to recipient, such as via face-to-face meeting or telephone call. Communication channels differ along a scale from rich to lean. Rich channels are more interactive, provide opportunities for two-way communication, and allow both the send and receiver to reach the nonverbal messages. The leanest channels present information without allowing for immediate interaction and often convey "just the facts." - ANSWER Richest channels: - ANSWER face-to-face meeting, in-person oral presentation Rich channels: - ANSWER online meeting, video conference Lean channels: - ANSWER teleconference, phone call, voice message, video Leanest channels: - ANSWER blog, report, brochure, newsletter, flier, email, phone text, social media post Different types of communications include: - ANSWER web-based communications, emails, letters, presentations, telephone meetings, message boards and forums, face-to-face meetings. Personal Communication: - ANSWER Information exchanged between sender and recipient for personal purposes. More relaxed language, more personal. Professional Communication: - ANSWER Exchange of information carried out in a business context, done for the commercial benefit of an organization. You will need to make an effort to be clear, concise, relevant, and objective. Communication Style: - ANSWER Dominant way in which an individual interacts and exchanges information with others. Passive Communicator: - ANSWER Tentative communication style used by those who are hesitant to speak up. They typically put the rights of others before their own and sound apologetic or tentative when they speak.. Aggressive Communicator: - ANSWER Forceful communication style often carried out in a loud and hostile manner. This style tend to be dismissive and suggests to others that their feelings do not matter. Assertive Communicator: - ANSWER Productive communication style used by those who express their ideas while listening attentively to others. They are direct but not insulting or offensive. Stand up for their own rights but ensure the rights of others are not affected. Passive-Aggressive Communicator: - ANSWER Indirect communication style that uses hidden messages to express needs and ideas. They make negative or underhanded comments. Active Listening: - ANSWER Giving the sender full, undisturbed attention with the intention of fully receiving hair or her message. 5 Rules for Active Listening: - ANSWER 1. Listen for message content. 2. Listen for feelings. 3. Respond to feelings. 4. Note all cues. 5. Paraphrase and Restate. Physical conditions: - ANSWER Sometimes noise—loud or distracting sounds—make it impossible to hear or concentrate. A room may also be so hot or so cold that people cannot get comfortable and pay attention. Fortunately, with some awareness and advanced planning, physical barriers to effective communication are some of the easiest to overcome. Filtering: - ANSWER A message sender sees the world through one set of filters (experiences and values), and the receiver sees it through a different set of filters. Each message has to pass, therefore, through at least two sets of filters. The more similar people are in lifestyle, experience, culture, and language, the more similar their mental filters are likely to be and the less distortion that should occur. Additionally, the fewer people involved in the transmission of a message, the greater the chance that it will be received as the sender intended. Messages exposed to many filters should be repeated in various ways to make sure they were understood as the sender intended. Selective perception: - ANSWER This is the tendency to either "under notice" or "over focus on" stimuli that cause emotional discomfort or contradict prior beliefs. For instance, some people live purposefully healthy lifestyles by frequently exercising and eating only nutritious food but still smoke cigarettes. Psychologists believe that they are selectively ignoring the evidence that smoking is dangerous to their health. They have chosen to disregard the information that would make them feel guilty or fearful about this habit. This is called perceptual defense. Selective perception can also be vigilant, meaning people are extra sensitive to things that are significant to them. Information overload: - ANSWER All have been in situations where they felt that too much information was coming at them. When this happens, they feel overwhelmed and fear that they will not be able to retain any information at all. Sometimes it is not just the quantity of communication but the level that causes overload. If the message contains information that is new to the receiver, including processes or concepts that are unfamiliar, then the chances of overload increase greatly. The sender should break up the message into more easily understood pieces and reduce the amount of information that has to be absorbed at any one time. Semantics: - ANSWER Semantics is the study of the meaning of words and phrases. Semantics is extremely important in effective communication. There are some semantic rules in English that may confuse non-native English speakers, such as the concept of subject-verb agreement and gender pronouns. When your audience involves people whose native language is not English or individuals of different educational backgrounds, messages need to be direct and clearly stated to help ensure they are understood. Denotation and connotation: - ANSWER Confusion can also arise from the use of language by people from different educational levels, cultures, and dialects. Some words have a connotation for one group of people that is not shared by another. Fortunately, paying attention to the context of the message often reduces confusion. Emotional disconnects: - ANSWER One of the first things parents learn is never to try to have a rational discussion with a screaming toddler or an angry teenager. If they wait until the young person is more receptive to what they have to say, the odds of a successful conversation improve dramatically. Adults also experience emotional disconnects that affect the chance of successful communication. If possible, it is better to postpone a communication if there is a strong likelihood that the intended receiver will misinterpret it because of his or her emotional state. Credibility: - ANSWER In communication, the validity of the message is tied to the reputation of the sender. If the receiver does not trust the sender, the receiver will view the message itself with skepticism or suspicion. If the sender is trustworthy, the receiver will likely believe the message despite any personal opinions about that subject. In other words, the trustworthiness of a communication, regardless of format, is heavily influenced by the perceived credibility of the source of that communication.5 Supportive Communication: - ANSWER A strategy that seeks to preserve a positive relationship between both communicators while still addressing the problem at hand.Emotional Intelligence (EI): The capacity to be aware of, control, and to express one's emotions, and to handle interpersonal relationships judiciously and empathetically. Intelligence Quotient (IQ): - ANSWER A number representing a person's reasoning ability as compared to the statistical norm or average for their age. Emotional Intelligence (EI): - ANSWER is the foundation for these critical skills: Accountability, communication, stress intolerance, anger management, presentation skills, flexibility, social skills, trust, customer service, time management, team work, assertiveness, change tolerance, decision making, and empathy. Intelligence: - ANSWER Is the ability to think, learn, and adapt. Self-awareness: - ANSWER is the ability to accurately perceive, assess, and exhibit appropriate emotions. Self-management: - ANSWER enables you to channel your emotions in a positive way when needed. Social awareness: - ANSWER refers to the ability to emphasize and understand how others feel. Relationship management: - ANSWER is the ability to assist others in managing their own emotions and to establish supportive relationships with others. Wechsler Adult Intelligence Scale (WAIS): - ANSWER An IQ test designed to measure intelligence and cognitive ability in adults and older adolescents. Emotional Quotient (EQ): - ANSWER The level of a person's emotional intelligence, often as represented by a score in a standardized test. Moral identity: - ANSWER which has to do with the extent to which people want to see themselves as ethical, caring people. Machiavellianism: - ANSWER Cunning, scheming, and unscrupulous. Exhibiting careful, patient opportunist behaviors. Self-Awareness: - ANSWER This involves being attuned to your inner preferences, values, beliefs, and resources. It means being authentic about your emotional state and guiding vision. This includes knowing yourself in order to manage yourself. Qualities of someone with high self-awareness include self-confidence, self-assessment, and emotional awareness, as well as the ability to recognize patterns. Self-awareness also means knowing how to use your strengths. Are you graceful in learning and receiving feedback? Do you know when to ask for help? Self-Regulation: - ANSWER This involves being able to manage your internal state. This includes demonstrating self-control, transparency, and adaptability. It means controlling your impulses, being authentic about how you feel and what you believe, and being flexible enough to adapt. Qualities of someone with high self-regulation include self-control, trustworthiness, assertiveness, and transparency. Can you juggle multiple demands without losing focus or energy? Do you continually seek ways to improve? Do you see situations as opportunities rather than threats? Motivation: - ANSWER This involves the ability to understand the emotional tendencies that impact your capacity to reach personal goals. This includes demonstrating the initiative to control your own destiny and the desire for continuous improvement. It also means displaying commitment and persistence, even in the face of challenges. Qualities of someone with high motivation include initiative, persistence, and an internal drive toward achievement. Do you align daily choices with your larger goals and objectives? Do you strive to improve and hold yourself to a high standard of excellence? How do you respond to setbacks? Empathy: - ANSWER This involves being attuned to the emotional signals of others and being able to relate and respond appropriately. This means being able to see things from more than one perspective and appreciate that not everyone will have the same opinion or reaction. Individuals who are empathetic demonstrate a high degree of social awareness and open-mindedness, a desire for deeper understanding, and personal sensitivity. Are you able to easily network and connect with others? Can you tell how others may be feeling before they tell you? Are you typically judgmental? Social Skills: - ANSWER This involves a broad range of behaviors related to managing relationships and responding to the emotions of others. It means navigating complex situations in a caring way, considering the concerns of others, and establishing positive relationships. Qualities of those with a high level of social skills include collaboration, conflict management, persuasion, and cooperation. Are you able to easily find common ground with others? How do you manage conflict? Do you inspire others? Emotions help individuals manage important tasks. - ANSWER Fear: - ANSWER mobilizes the body to fight or flee. Happiness: - ANSWER rewards for achieving goals. Surprise: - ANSWER makes individuals stop what they are doing, pay attention to the surprising thing, and evaluate whether it is dangerous. Meditation: - ANSWER Focusing all of your energy and attention on one specific area of the present moment. Mindfulness: - ANSWER Consciousness of present moment. Journaling: - ANSWER Self-reflective process of recording thoughts and emotions from day to day, in order to identify patterns. As a key strategy to help you engage in planned and sustained self-reflection. Behavioral Event Interviews: - ANSWER These are guided interview questions where individuals use their own words to describe their thoughts and feelings during a specific situation. The coach then uses individual responses to measure specific behaviors and competencies, and from there establishes a development plan. Simulation Feedback: - ANSWER Individuals role-play in challenging EI simulations and provided feedback based on their behavioral choices. Surveys: - ANSWER Paper or online questionnaires ask learners to describe their preferred actions in specific situations. More sophisticated surveys require trainers or coaches to be accredited. Supportive Communication: - ANSWER A strategy that seeks to preserve a positive relationship between communicators while still addressing the problem at hand. Active listening is a key feature of supportive communication, as people who call themselves team players need to be able to listen with sincerity and interpret meaning from others. The 80/20 Rule: - ANSWER If you like to be the center of attention and you get impatient when someone else is talking, you must practice exercising some impulse control. Paraphrase the message in your own words then ask the speaker if you understood correctly. This helps you remember it because your personally invested yourself in it. Personal Competencies: - ANSWER EI competencies related to self-awareness, self-regulation, and motivation. Social Competencies: - ANSWER EI competencies related to empathy and social skills. Leadership: - ANSWER Frequently defined as an influence relationship between 2 or more persons who depend on each other to attain certain mutual goals in a group situation. Manager: - ANSWER An individual who is in a position of power and oversees a group of people or tasks. Managers are usually appointed to their role and focus on planning, organizing, and directing. Leader: - ANSWER A person who assumes control and is able to guide and influence people. Their power is given to them by their followers due to their perceived knowledge, personality, and attractiveness, as well as the working relationship that has developed between the leaders and their followers. Locus of Control: - ANSWER Extent to which an entity believes the current and anticipated circumstances, and its response to them are within its control. People who believe they control their life have an internal locus of control, whereas people who attribute their success or failure to outside influences (such as luck, timing, or other people) have an external locus of control. An individuals ability to direct circumstances and events. Leader traits include: - ANSWER drive, motivation, integrity, self confidence, cognitive ability, knowledge of business, and charisma. Consideration: - ANSWER Refers to the relationship behaviors of a leader such as communication and respect. Initiating: - ANSWER Refers to the task related behaviors of a leader such as planning, problem solving, and scheduling. Job-Centered Behavior: - ANSWER Refers to supervisory functions, such as planning, scheduling, coordinating work activities, and providing resources. Employee-Member-Centered Behaviors: - ANSWER Focus on supporting employees. Power: - ANSWER The ability to influence the behavior of others to get what you want. Influence Tactics: - ANSWER Refer to the way individuals attempt to influence one another in organizations. Rational Persuasion: - ANSWER Using facts, data, and logical arguments to try to convince others that your point of view is the best alternative. Inspirational Appeals: - ANSWER Engage values, emotions, and beliefs to gain support for course of action. Legitimate Power: - ANSWER Power that comes from one's organizational role or position. Reward Power: - ANSWER Ability to grant a reward to an employee in exchange for job performance. Coercive Power: - ANSWER Ability to take something away or punish someone for noncompliance. Expert Power: - ANSWER Power based on knowledge and special skill or experience. Employees feel secure in the decisions that are made. Information Power: - ANSWER Power that stems from when a leader possesses knowledge that others need or want. Referent Power: - ANSWER Ability of the leader to influence people because of their attraction and respect to the leader. Design Thinking: - ANSWER A nonlinear, iterative problem-solving strategy. Data is collected and expressed visually to understand users, challenge assumptions, redefine problems, and create innovative solutions or strengthen weaknesses. The method consists of 6 phases. 1. Empathize: - ANSWER Research your users needs 2. Define: - ANSWER State your users' needs and problems. 3. Ideate: - ANSWER Challenge assumptions and create ideas. 4. Prototype: - ANSWER Start to create solutions. 5. Test: - ANSWER Try your solutions out. 6. Implement: - ANSWER Introduce your ideas to markets. Leadership Style: - ANSWER A manner or approach of providing direction, implementing plans, and motivating people. There are many different leadership styles the can be exhibited by leaders in politics, business, or other fields. Task Oriented Style: - ANSWER Will focus on the technical or task aspects of the job. This type of leader needs their employees to know what is expected of them and have the tools needed to do their job. People Oriented Style: - ANSWER More concerned with workplace relationships. This leader emphasizes interpersonal relations and employee cooperation. Autocratic Style: - ANSWER Keeps close control over subordinates and down not seek much input from others. Participative Style: - ANSWER Seeks input from subordinates. (Democratic style) Laissez Faire Style: - ANSWER A largely "hands off" leadership style that provides considerable freedom to subordinates. Transactional Leadership: - ANSWER Style that assumes employees have their own desires and will not be motivated without extrinsic rewards from leadership. Transformational Leadership: - ANSWER Takes a different approach to solving the dilemma. Assumes it is possible to intrinsically motivate employees so that their desires math those of leadership. Idealized Influence: - ANSWER A leader models behaviors and attitudes that subordinates choose to emulate. Inspirational Motivation: - ANSWER A leader inspires a passionate vision among subordinates or the organization itself. Intellectual Stimulation: - ANSWER A leader recognizes the intellect of subordinates and empowers them to contribute toward the success or vision of the organization. Individualized Consideration: - ANSWER A leader takes the time to learn about the talents of each individual and puts them to good use. "Situational Theories of Leadership:" - ANSWER Leadership theory that suggests that to be effective, leaders must adapt their style based on the circumstances. Telling: - ANSWER This is a directive and authoritative approach. The leader makes decisions and tells employees what to do. Selling: - ANSWER Leaders are still the decision-makers, but they communicate and work to persuade employees rather than simply direct them. Participating: - ANSWER Leaders work with team members to make decisions together. They support and encourage them and are more participatory. Delegating: - ANSWER The leader assigns decision-making responsibility to team members but oversees their work. Great for a highly competent and committed team. Level M1: - ANSWER Followers have low competence and low commitment. Level M2: - ANSWER Followers have low competence, but high commitment. Level M3: - ANSWER Followers have high competence, but low commitment and confidence. Level M4: - ANSWER Followers have high competence and high commitment and confidence. [Show More]

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