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BUSINESS 101 TEST QUESTIONS AND ANSWERS ON ACE MY HOMEWORK.


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need recognition

Recognising a need or want stimulated via internal or external stimuli

purchase decision

Ranking of alternatives which helps form purchase decisions

cognitive dissonance

Post purchase conflict due to compromises and opportunity costs

Mass Marketing

developing products and promotions to please large groups of people

Product-variety marketing

The seller produces two or more products that have different features, styles, quality, sizes and so on

Target Marketing

Marketing directed toward those groups (market segments) an organization decides it can serve profitably.

rifle approach

focusing on the buyers who have greater purchase interest

micro marketing

tailoring products and marketing programs to the needs and wants of specific segments

Customised marketing

Adapting the product and marketing program to the needs of a specific customer or buying organisation.

Market Segmentation

Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs

geographic segmentation

dividing a market into different geographical units, such as nations, states, regions, counties, cities, or even neighborhoods

demographic segmentation

dividing the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation

psychographic segmentation

dividing a market into different segments based on social class, lifestyle, or personality characteristics

Behavioural segmentation

dividing a market into segments based on consumer knowledge, attitudes, uses, or responses to a product

Market Targeting

the process of evaluating each market segment's attractiveness and selecting one or more segments to enter

Undifferentiated marketing

a market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer; focusing on the common needs rather than differences.

differentiated marketing

a market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each in the hopes of higher sales, profit and greater market share

concentrated marketing

A market-coverage strategy in which a firm goes after a large share of one or a few segments or niches. Beneficial for small companies against large competitors at much higher risks.

market positioning

The process of defining the marketing mix variables so that target customers have a clear, distinctive, desirable understanding of what the product does or represents in comparison with competing products.

vertical hierarchy

formal chain of command and who talks to who

horizontal specialisation

various jobs and specialisations

functional structure

people with similar occupational specialties are put together in formal groups. 

Narrow span of control with flat organisational structure, centralised authority and a top down management.

divisional structure

people with diverse occupational specialties are put together in formal groups by similar products or services, customers or clients, or geographic regions

wide span of control, tall organisation structure and decentralised authority. Bottom up management

matrix structure

amalgamation of functional and divisional chains of command

wide span of control, tall organisation structure, decentralised authority and bottom up management.

horizontal structure

Teams or workgroups, either temporary or permanent are used to improve collaboration and work on shared tasks by breaking down internal boundaries. 

Narrow span of control, flat organisational structure, decentralised authority, bottom-up management, team based, collaboration and clear lines of communication.

hollow structure

An organisation with a central core of key functions, which outsources other functions to vendors who can do them cheaper or faster, keeping overheads low. 

Focuses on key competencies and functions, outsources other functions, issues of control, encourage collaboration and creativity.

modular structure

resolves around the outsourcing of certain pieces of a product rather than outsourcing processes. 

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assembles product chunks provided by outside contractors.

virtual structure

a company outside a company that is created "specifically to respond to an exceptional market opportunity that is often temporary"

characterised as responding to exceptional market opportunities, focusing on key competencies and connecting members from different geographic regions with technology.

mechanistic organisation

Where authority Is centralised, tasks and rules are clearly specified and employees are closely supervised. Very bureaucratic and function best in a stable environment.

organic organisation

decentralised authority, fewer rules and procedures and employees are encouraged to cooperate and respond quickly to unexpected tasks working in an adhoc manner, valuing flexibility.

Differentiation

the tendency of the parts of an organization to disperse and fragment. Heavily associated with specialisation and division of labour.

Integration

tendency of the parts of an organization to draw together to achieve a common purpose and goal. 

Formal chain of command, standardised procedures and rules of cross-functional teams with increased collaboration.

Birth stage

the non bureaucratic stage, the stage in which the organization is created. Little to no rules

youth stage

the organization is in a prebureaucratic stage, a stage of growth and expansion. Some division of labour and rules are instituted.

midlife stage

the organization becomes bureaucratic, a period of growth evolving into stability. 

Formalised structure, specialisation, decentralisation of functional divisions.

maturity stage

very bureaucratic, large, mechanistic. 

Faces issues of lack of flexibility and innovation.

Organisational culture

The system of shared beliefs and values that develops within an organisation and guides the behaviour of its members

observable artefacts

Physical manifestations of culture such as manner of dress, awards, myths and stories about the company, rituals and ceremonies and decorations, as well as behaviour exhibited by managers and employees

espoused values

explicitly stated values and norms preferred by an organization

Basic organisational assumptions

The core beliefs that employees have about their organisation, which are not observable

clan culture

has an internal focus and values flexibility rather than stability and control, encouraging collaboration and striving to improve cohesion and employee involvement. 

Devotes significant resources to employee development and hiring

adhocracy culture

has an external focus and values flexibility. Employees are encouraged to take risks and ideal for start up companies.

market culture

strong external focus and values stability and control. Sacrifices employee development and satisfactory for results, profit and productivity.

hierarchy culture

internal focus and values stability and control over flexibility. Formalised and structured work environment aiming to achieve effectiveness and efficiency in products.

strength perspective

assumes that the strength of a corporate culture is related to a firm's long-term financial performance

fit perspective

assumes that an organization's culture must align, or fit, with its business or strategic context

a correct fit is associated with higher profit.

Adaptation Perspective

that the most effective cultures help organisations anticipate and adapt to environmental changes

most accurate measure/predictor of financial/overall performance.

 

Accounting is often called the

Language of business

The internal revenue service requests accounting information for my company. The IRS is an example of an internal users

True

The ______ are a set of rules and standards that help ensure uniformity in financial statements.

Generally accepted accounting principles

Money owed to a supplier is considered

A liability

The accounting equation is

A representation of the relationship between assists, liabilities and the owners' equity of a business

The unit contribution margin is

Sales price - variable costs

_____ is the process of identifying measuring and communicating economic information to permit informed judgements and decisions by the users of the information

Accounting

What do you need to know to calculate your break even point ?

Fixed costs, variable costs, selling price

Who appoints members to the public company accounting oversight board?

The securities and exchange commission

Bookkeeping is

A process that records the routine economic activities of a business

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Financial analysts typically evaluate possible merger and acquisition candidates on paper

False

An income statement includes_______.

Expenses, revenues, net income

The ______ indicates a company's short term debt paying ability

Liquidity ratio

A _____ captures a company's assets liabilities and equity at a specific moment in time

Balance sheet

What is an accountants most valuable asset ?

An honest reputation

Equity is the difference between the value of the assets and the amount of liabilities of something owed

True

Free enterprise

the system of business in which individuals are free to decide what to produce, how to produce it, and at what price to sell it.

cultural diversity

differences among individuals based on cultural, ethnic, and racial factors

business

the organized effort of individuals to produce and sell, for a profit, the gods and services that satisfy a society's needs

profit

what remains after all business expenses have been deducted from sales revenue

Stakeholders

Any persons or groups who will be affected by the policies and decisions made by an organization

economics

the study of how wealth is created and distributed

Microeconomics

The study of the decisions made by individuals and businesses

Macroeconomics

the study of the national economy and global economy

economy

the way in which people deal with the creation and distribution of wealth

factors of production

the resources that are used to make goods and services

Entrepreneur

A person who risks time and money to start and manage a business

capitalism

an economic system in which individuals own and operate the majority of businesses that provide goods and services

invisible hand

a term coined by Adam Smith to describe how an individuals personal gain benefits others and a nations economy

market economy

a system in which businesses and individuals decide what to produce and buy, and the market determines quantities sold and prices

mixed economy

an economy that exhibits elements of both capitalism and socialism

consumer products

product purchased to satisfy personal and family needs

command economy

An economic system in which the government decided what goods to produce, how they will be produced, for whom and who owns and controls the major factors of production

Productivity

The average level of output per worker per hour

Gross Domestic Product (GDP)

the total dollar value of all goods and services produced by all people within the boundaries of a country during a one year period

inflation

a general rise in the level of prices

deflation

a general decrease in the level of prices

unemployment rate

the percentage of the nation's labor force that is unemployed

Consumer Price Index (CPI)

Monthly statistics that measures the changes of a fixed basket of goods by a typical consumer in an urban area

Producer Price Index (PPI)

An index that measures prices that producers receive for their finished goods

business cycle

recurrence of periods of growth and recession in a nation's economic activity

Recession

two or more consecutive three month periods of decline in a nations GDP

Depression

A severe recession that lasts longer than a typical recession

monetary policies

federal reserve decisions that determine the suze of the supply of money in the nation and the level of interest rates

fiscal policy

government influence on the amount of savings and expenditures; accomplished by altering the tax structure

federal deficit

a shortfall created when the federal government spends more in a fiscal year than it receives

national debt

the total of all federal deficits

competition

rivalry among businesses for sales to potential customers

prefect competition

market situation in which there are many buyers and sellers of a product, and no single buyer or seller is powerful enough to affect the price

supply

How much of a good or service a producer is willing and able to produce at different prices.

demand

the quantity of a product that will be sold in the market at various prices for a specified period

market price

the price at which the quantity demanded is exactly equal to the quantity supplied

monopolistic competition

a market structure in which many companies sell products that are similar but not identical

product differentiation

the process of developing and promoting differences between one's product and all similar products

Oligopoly

A market structure in which a few large firms dominate a market

monopoly

a market dominated by a single seller

natural monopoly

industry in which one company can most efficiently supply all needed goods or services

standard of living

measure of how well off an individual or society is

barter

an exchange in which goods or services are traded for other goods or services without using money

domestic system

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method of production in which work is done in homes rather than in a shop or factory

Factory systems

system of manufacturing in which everything is assembled in one place

specialization

the separation of manufacturing tasks within a system with different tasks assigned to different individuals

e-business

use of the internet to transact business

service economy

an economy based on providing services or doing certain tasks rather than the production of goods

social media

online interactions that allow people and businesses to communicate about products and services

sustainability

meeting the needs of the present without compromising the ability of future generalities to meet their own needs

ethics

the study of right and wrong and of the morality of the choices individuals make

business ethics

the use of ethics in making business decisions

Sarbanes-Oxley Act

legal protection for employees who report corporate misconduct

code of ethics

a guide to acceptable and ethical behavior as defined by the organization

Whistleblowing

Informing the press or government officials about unethical practices within an organization

social responsibility

the obligation of a business to contribute to society

caveat emptor

a Latin phrase meaning "let the buyer beware"

economic model of social responsibility

the view that society will benefit most when business is left alone to produce and market profitable products that society needs

socioeconomic model of social responsibility

concept that business should emphasize not only profits but also the impact of its decisions on society

consumerism

all activities undertaken to protect the rights of consumers

minority

group of people that differs in some way from the larger population

Affirmative Action

Plan designed to increase the number of minority employees at all levels within an organization

Equal Employment Opportunity Commission

government entity that enforces civil rights laws against employers that discriminate

hard-core unemployed

workers with little education or vocational training and a long history of unemployment

National Alliance of Business (NAB)

a joint business-government program to train the hard-core unemployed

pollution

the contamination of water, air or land through the actions of people in an industrialized society

social audit

a systematic evaluation of how well a firm is meeting its ethics and social responsibility goals

international business

all business activities that involve exchanges across national boundaries

absolute advantage

the ability to produce a specific product more efficiently than any other nation

comparative advantage

the ability to produce a specific product more efficiently than any other product

Exporting

Selling and shipping raw materials or products to other nations

importing

purchasing raw materials or products in other nations and bringing them into ones own country

balance of trade

total value of a nation's exports minus the total value of its imports over some period of time

trade deficit

a negative balance of trade

balance of payments

the total flow of money coming into a country minus the total flow going out

import duty (tariff)

a tax levied on a particular foreign product entering a country

dumping

exportation of large quantities of a product at a price lower than that of the same product in the home market

nontariff barriers

nontax measure imposed by a government to favor domestic over foreign suppliers

import quota

a limit on the amount of a good that can be imported during a given period of time

...

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Embargo

an official ban on trade or other commercial activity with a particular country.

foreign-exchange control

a restriction on the amount of a particular foreign currency that can be purchased or sold

currency devaluation

the reduction of the value of a nation's currency relative to the currencies of other countries

General Agreement on Tariffs and Trade (GATT)

an international organization of 153 nations dedicated to reducing or eliminating tariffs & other barriers

World Trade Organization (WTO)

organization that incorporates trade in goods, services & ideas

economic community

an organization of nations formed to promote the free movement of resources and products among its members

Licensing

A contract that grants a party explicit rights to use intellectual property in return for a royalty or other compensation

letter of credit

issued by a bank, agreeing that the bank will make payments under specific circumstances

bill of lading

document issued by a transport carrier to an exporter to prove that merchandise has been shipped

draft

issued by exporters bank, ordering the importers back to pay for merchandise

strategic alliance

a partnership formed to create competitive advantage on a worldwide basis

trading company

provides a link between buyers and sellers in different countries

Countertrade

An international barter transaction

multinational enterprise

a firm that operates on a worldwide scale without ties to any specific nation or region

Export-Import Bank of the United States

provides financing for US exports through direct loans and loan guarantees

multilateral development bank (MDB)

an internationally supported bank that provides loans to developing countries to help them grow

International Monetary Fund (IMF)

international bank with 188 member nations that makes short term loans to developing countries experiencing balance of payment deficits

 

import

purchasing raw materials or products in other nations and bringing them into one's own country

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export

selling and shipping raw materials or products to other nations

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Inflation

A general and progressive increase in prices

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Deflation

a decrease in the general level of prices

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e-business

use of the internet to transact business

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business

the organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society's needs

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Who is Adam Smith?

father of capitalism

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What is capitalism?

an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.

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What is socialism?

a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.

invisible hand

A phrase coined by Adam Smith to describe the process that turns the self-directed gain into social and economic benefits for all

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What are the basic assumptions of Adam Smiths Laissez-Faire Capitalism

1. Right to create wealth, 2. own private property and resources, 3. to economic freedom and freedom to complete.4. to limited government intervention.

factors of production (fop)

land, labor, capital, entrepreneurship

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NAFTA (North American Free Trade Agreement)

Allows open trade between the US, Mexico, and Canada.

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Tariff

a tax on imported goods.

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Monopoly

A market in which there are many buyers but only one seller.

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Oligopoly

a market structure in which only a few sellers offer similar or identical products

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supply

The quantity of something that producers have available for sale

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demand

the quantity of a good or service that consumers are willing and able to buy

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natural monopoly

a market that runs most efficiently when one large firm supplies all of the output

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limited monopoly

created when a government entity issues a franchise, license, copyright, patent, or trademark

Ethics

the principles of right and wrong that guide an individual in making decisions

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Business Ethics

principles and standards that determine acceptable conduct in business

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Sarbenes-Oxley Act of 2002

sweeping new legal protection for employees who report corporate misconduct.

whistle-blowing

informing the press or government officials about unethical practices within one's organization

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code of ethics

a guide to acceptable and ethical behavior as defined by the company.

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economic model of social responsibility

the view that society will benefit most when business is left alone to produce and market profitable products that society needs.

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absolute advantage

the ability to produce a good using fewer inputs than another producer

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comparative advantage

the ability to produce a good at a lower opportunity cost than another producer

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International Business

the buying, selling, and trading of goods and services across national boundaries

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Productivity

the quantity of goods and services produced from each unit of labor input

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Gross Domestic Product (GDP)

A measurement of the total goods and services produced within a country.

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recession

two or more consecutive quarters of decline in the GDP

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Depression

A long-term economic state characterized by unemployment and low prices and low levels of trade and investment (*2008)

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federal deficit

a shortfall created when the federal government spends more in a fiscal year than it receives

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business cycle

the recurrence of periods of growth and recession in a nation's economic activity

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perfect (or pure) competition

the market situation in which there are many buyers and sellers of a product, and no single buyer or seller is powerful enough to affect the price of that product

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Corporate Citizenship

adopting a strategic approach to fulfilling economic, ethical, environmental, and social responsibilities

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Licensing

a contractual agreement in which one firm permits another to produce and market its product and use its brand name in return for a royalty or other compensation

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letter of credit

issued by a bank on request of an importer stating that the bank will pay an amount of money to a stated beneficiary

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Economics

The study of how people seek to satisfy their needs and wants by making choices

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micro means what?

small (individuals)

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Macro means what?

large (national or global)

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what does capitalism equal?

greed

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Puffery

the legal exaggeration of praise, stopping just short of deception, lavished on a product

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deceptive

misleading

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joint venture

an agreement between two or more companies to share a business project

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Dumping

the sale of an exported product at a price lower than that charged for the same or a like product in the "home" market of the exporter

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counertrade

an international barter transaction.

Serman Anti-Trust Act

prevented monopolies or mergers where competition was endangered.

Pure Food and Drug Act

1906 - Forbade the manufacture or sale of mislabeled or adulterated food or drugs, it gave the government broad powers to ensure the safety and efficacy of drugs in order to abolish the "patent" drug trade. Still in existence as the FDA.

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federal commission trust act

investigate illegal trade practices

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Interstate Regulation competition Major Provisions limited was

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profit

what remains after all business expenses have been deducted from sales revenue

 

sole proprietorship

a business that is owned (and usually operated) by one person

unlimited liability

a legal concept that holds a business owner personally responsible for all the debts of the business

partnership

a voluntary association of two or more persons to act as co-owners of a business for profit

general partner

a person who assumes full or shared responsibility for operating a business

limited partner

a person who invests money in a business bt no management responsibility or liability for losses beyond the amount he or she invested in the partnership

corporation

an artificial person created by law with most of the legal rights of a real person, including the rights to start and operate a business, to buy or sell property, to borrow money, to sue or to be sued, and to enter into binding contracts

stock

the shares of ownership of a corporation

stockholder

a person who owns a corporations stock

closed corporation

a corporation whose stock is owned by relatively few people and is not sold to the general public

open corporation

a corporation whose stock can be bought and sold by any individual

domestic corportation

a corporation in the state in which it is incorporated

foriegn corporation

a corporation in any state in which it does business except the one in which it is incorporated

alien corporation

a corporation charactered by a foreign government and conducting business in the United States

common stock

stock owned by individuals or firms who may vote on corporate matters but whose claims on profits and assets are subordinate to the claims of others

preferred stock

stock owned by individuals or firms who usually do not have voting rights but whose claims on dividends are paid before those of common stock

dividend

a distribution of earnings to the stockholders of a corporation

proxy

a legal form listing issues to be decided at a stockholders meeting and enabling stockholders to transfer their voting rights to some other individual or individuals

board of directors

the top governing body of a corporation, the members of which are elected by the stockholders

corporate officieres

the chairman of the board, president, executive vice president, corporate secretary, treasurer, and any other top board executive appointed b the board of directors

limited liability

a feature of corporate ownership that limits each owners financial liability to the amount of money that he or she has paid for the corporations stock

S Corporation

a corporation that is taxed as if it were a partnership

limited liability company (LLC)

a form of business ownership that combines the benefits of a corporation and a partnership while avoiding some of the restrictions and disadvantage of those forms of ownership

joint venture

an agreement between two or more groups to form a business entity in order to active a specific gaol or to operate for a specific time

syndicate

a temporary association of individuals of firms organized to perform a specific task that requires a large amount of capital

merger

the combining of two corporations or other business entities to form one business

hostile takeover

a situation in which the management and board of directors of a firm targeted for acquisition disapprove of the merger

tender offer

an offer to purchase stock of a firm targeted for acquisition at a price just high enough to tempt stockholders to sell their shares

proxy fight

a technique used to gather enough stockholder votes to control a targeted company

business plan

a carefully constructed guide for the person starting a business

small business administration

a government agency that assists, counsels, and protects the interests of small businesses in the United States

Service Corps of Retired Executives (SCORE)

a group of businesspeople who volunteer their services to small businesses through SBA

small-business institutes

groups of senior and graduate students in business administration who provide management counseling and to small businesses

small-business development center (SBDCs)

university-based groups that provide individual counseling and practical training to owners of small businesses

venture capitital

money that is invested in small (and sometimes struggling) firms that have the potential to become very successful

small-business investment companies (SBICs)

privately owned firms that provide venture capital to small enterprises that meet their investment standards

franchise

a license to operate an individually owned business as though it were part of a chain of outlets or stores

franchising

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the actual granting of a franchise

franchisor

an individual or organization granting a franchise

franchisee

a person or organization purchasing a franchise

Although accounting has several specific uses, the overall purpose of accounting can be summarized as

to provide financial in formation that is useful

A firm's __ reports the profit or loss for the firm

income statement

as a first step in the accounting cycle ___, involves the recording of

bookkeeping

the balance sheet and statement of cash flows, and the _____ are three key financial statements prepared by accounts

income statement

the ___ is an accounting statement that reports the financial condition of a firm at a specific point in time

balance sheet

Company resources that are purchased with the intention that they will convert to cash within one year

current assets

a balance sheet lists assets in order of their ______

liquidity, with the most liquid assets listed first

_____ is the function in business that is responsible for acquiring funds for the firm and managing funds within the firm

Finance

Important provisions of the Sarbanes-Oxley Act

require the CEO and CFO of the corporations to certify the accuracy of financial reports

No matter the size of the business, finance is a critical activity for

profit seeking and nonprofit organizations

a yearly statement of the financial condition, progress, and expectations of an organization

annual report

Which of the following commonly results in the financial failure of a firm?

undercapitalization

A major concern for firms selling on credit is

the large amount of assets tied up in accounts receivable.

One of the challenges of effective financial management is

to have sufficient cash on hand without compromising the firm's investment

A_______ forecast predicts the revenues, costs, and expenses a firm will incur for a period longer than one year

long term

In order to calculate the current ratio for your firm, you divide

total current assets/ total current liabilities

a __ job includes forecasting, budgeting, cash flow analysis, cost control, taxes, and credit management

financial manager's

undercapitalization refers to the problem of

insufficient start up funds

effectice management of accounts receivable requires financial managers to

review the credit history of new customers

one of the most important aspects of the banking legislation during the 1930's was that it established

federal deposit insurance

__ is the creation of goods and services using land, labor, capital, entrepreneurship and knowledge

production

to strengthen its manufacturing base in the future the US will have to

continue to innovates

the US businesses are known for their technological advances and their ability to implement change

True

the US is still manufacturing intensive. only 55% of the US jobs come from the service sector

False

currently, manufacturing accounts for only around 70% of US GDP

False

almost ________ US adults has accumulated enough money by retirement age to live comfortably.

1 in 10

One disadvantage of term life insurance is that

when renewed it usually is at a higher premium

____life insurance offers pure insurance protection for a given period of time

term

Quinnis excited about getting her first credit card. However, she should be aware of the fact that

the convenience of a credit card can lead to excessive debt

joe and megan are newly married college graduates. both have have with bright futures. one strategy that they could use to accumulate capital for investment purposes would be to

live on just one of their incomes and save the other

the greatest return over a period of several years is likely to be earned by investing in a

small home in a great location

for a young person one of the worst places to invest money for the long term is

a bank savings account

a benefit of using credit cards is that they

provide a record that makes it possible to keep track of purchases easily

in order to accumulate capital, young adults are likely to have to

accept a lifestyle that sacrificed some amenities

preparing and living with a personal budget is

similar to activities needed to handle the finances of a small business, your life is a small business

the first step you would take to get control of your personal finance is to

prepare a budget

when you prepare your personal balance sheet, remember that your ______ is equal to your total assets minus any liabilities you may have

net worth (owners equity)

realizing that ironage metalworks stock currently sells for $37 a share, Alex directed her broker to buy 100 shares if and when the proce dropped to $31. alex placed a ___ order with her broker

limit

_____ stocks represent investments in emerging fields that hve the potential to realize better than average increases in the stock's prices

growth

the term_____ refers to investors who anticipate increases in stock prices

bulls

investing online is usually ______ than trading through a traditional stock brokerage firm

less expensive

the investor will receive the face value of the bond on the _____ date

maturity

by issuing bonds with a _______ the corporation retains the right to pay off the bond prior to the maturity date.

call provision (callable bond)

45.

b.

another name for the fixed rate of interest attached to a bond is the

coupon rate

disadvantages to issuing stock to obtain long term financing include

a possible change in management and policies in the company

_____ represents the most basic form of company ownership and includes voting rights and dividends, if and when the firm elects to pay dividends

common stock

two kinds of equity financing are

common and preferred stock

___ are the firm's after tax profits that are distributed to stockholders

dividends

which of the following situations would be considered insider trading?

you hear information from an inside source directly

which of the following legislative acts created securities and exchange commission

the securities and exchange act of 1934

using information not available to the public to unfairly benefit in the stock market represents

insider trading

the largest national electronic stock trading market

NASDAQ

which of the following terms best describes the relationship between the NYSE and the NASDAQ

competitive

most businesses prefer to meet their long term financial needs through

retained earnings

when retained earnings are not enough to meet their long- term funding needs, businesses may be able to raise funds by

selling common stock

the trading of previously issued securities from one investor to another takes place in the

secondary market


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