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98 Cards in this Set
- Front
- Back
If am employee is involved with transforming resources into goods and services, then he is in |
Operations management |
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Downsizing is an effective way to |
Gain the advantages of small businesses |
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The process of spreading the costs if long-lived assets such as buildings and equipment over the total number of accounting periods in which they are expected to use is called |
Depreciation |
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If a company pays its workers additional compensation at the end of the year as a thank you for good work, this monetary reward would most likely be categorized as a |
Bonus |
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The oldest and largest of all financial institutions are |
Commercial banks |
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The primary business of savings and loan associations (S&L) is to |
Offer savings accounts |
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The Federal Reserve Board was established by Congress in 1913 to |
Regulate the banking industry |
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Finance companies |
Offer short-term loans |
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(BLANK) refers to a firm's shared beliefs, traditions, philosophies, rules and role models for behavior. |
Organizational Culture |
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A forensic accountant |
Analyzes financial documents in search of fraudulent entries or financial misconduct |
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The two biggest stock markets in the United States are the |
New York Stock Exchange and the NASDAQ market |
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What motivated employees to perform on the job is the focus of (BLANK), which is the study of the behavior of individuals and groups in organizational settings |
Human relations |
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Apple Inc, a leading manufacturer of cell phones and tablets, hires Taiwan's Foxconn Technology Group, who's subsidiary assembles Apple devices in factories in China. What is the business arrangement? |
Contract Manufacturing |
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(BLANK) are very short-term plans that specify what actions individuals, work groups or departments need to accomplish in order to achieve the tactical plan and ultimately the strategic plan. |
Operational plans |
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Asset utilization ratios are used to measure |
How efficiently the firm uses its assets to generate $1 in sales |
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Which of the following adds tasks to a job instead of treating each task as a separate job? |
Job enlargement |
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An income statement shows |
Revenues, expenses and net income over a period of time |
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Which of the following characteristics of money refers to the ability of a dollar bill to be handled hundreds of times without significant wear and tear? |
Durability |
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Human resources departments strive to |
Minimize losses due to separations and transfers |
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The first step in quality control for any organization is |
Establishing standards |
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Which of the following is a current asset? |
Accounts receivable |
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A firm's (BLANK) resources are also known as labor. |
Human |
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Information found on the company's income statement and balance sheet is extracted from these documents and examined more closely through the use of |
Ratio analysis |
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If a firm issues a poison pill when facing a hostile takeover attempt, |
It allows stockholders to buy shares of stock at prices lower than the market value |
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The form of communication that attempts to facilitate a marketing exchange by influencing people, groups or organizations is known as |
Promotion |
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A money marker account differs from an interest-bearing checking account in that the owners of a money market account |
Can write only a limited number of checks each month |
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The main focus of the process of management is |
Coordinating resources to achieve objectives |
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Which of the following accurately describes intrapreneurs? |
Individuals in large firms who take responsibility for the development of innovations within the organizations |
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All activities involved in obtaining and managing raw materials and component parts, managing finished products, packaging them and getting them to customers are part of |
Supply chain management |
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Which of the following statements is NOT true of the marketing concept philosophy? |
A business must first develop its product service or idea and then find out what consumers desire |
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Production and operations managers are concerned with |
Transforming resources into goods and services |
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When a retailer announces a discount sale on all its products, |
Consumers will demand more products |
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A nonbanking financial institution that buys and sells stocks, bonds, and other securities for its customers is called a |
Brokerage firm |
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(BLANK) is the single most important source of capital for most new companies |
Common stock |
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A (BLANK) is a group of employees responsible for an entire work process or segment that delivers a product to an internal or external customer |
Self-directed work team |
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Which of the following behavior is an example of ethical consideration within the purview business relationship? |
Keeping company secrets |
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The financial document that has been likened to a snapshot of how the company's finances are doing at that moment is called a |
Balance sheet |
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(BLANK) is the goal of the marketing concept |
Customer satisfaction |
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The effective translation of product names can be crucial to the success in foreign markets because of |
Cultural barriers |
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Accounting refers to a process of |
Recording, measuring and interpreting financial data |
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(BLANK) is an account showing money owed to a company by its clients or customers |
Accounts receivable |
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A check |
Can be rendered worthless in case of suspected forgery |
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The (BLANK) is the interest rate commercial Bank lenders charge their best customers for short-term loans |
Prime rate |
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(BLANK) is usually preferred when the decisions of a company are very risky and low-level managers lack decision-making skills |
Centralization |
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(BLANK) are benefits and/or recognition that receive from someone else. |
Extrinsic rewards |
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When a company wants to place a value on a physical asset for its balance sheet, it must |
Reduce the value by the amount the asset gas depreciated |
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The (BLANK) Act criminalized securities fraud and toughened penalties for corporate fraud |
Sarbanes-Oxley |
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A debit card |
Looks like a credit card but works like a check |
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Suppose Coca-Cola allows a Mexican firm to use its name, formula, and brands in return for a royalty. This arrangement is |
Licensing |
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Which of the following would help reduce the incidence of unethical behavior in an organization? |
Limiting opportunity for misconduct by providing punishments for violations of the rules |
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An example of a product distributed from the producer to the consumers through the retailer is |
An automobile |
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A license to sell another's products or to use another's name in business, or both, is called a |
Franchise |
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Marketing activities best create value by |
Allowing individuals and organizations to obtain what they need and want |
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(BLANK) is a partnership formed to create competitive advantage ana worldwide basis |
A strategic alliance |
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which of the following is a reason why companies use a lockbox? |
To speed up cash collection from customers |
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Credit cards |
Allow cardholders to pay for transactions at a later date |
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A finance company that buys other companies' accounts receivable is known as a |
Factor |
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Diet Coke is a |
Brand name |
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To carry out its function of controlling the supply of money in the economy, the Federal Reserve Board |
Uses monetary policy |
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One challenge that digital media has created for businesses is |
Employees wasting time surfing the internet |
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The term social (BLANK) refers to a business's obligation to maximize its positive impact and minimize its negative impact on society |
Responsibility |
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In the realm of business ethics, making claims about dietary supplements or the health benefits of certain unproven ingredients is an issue related to |
Communication |
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Organizations such as NASA and the US Postal Service that are owned by the federal, state, or local governments are known as |
Quasi-public corporations |
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(BLANK) is the primary goal of business |
Profit |
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When a company invests a lot of money in a particular project, it is concerned about the amount of risk involved. In general, if the expected life of a project is longer, its potential risk is |
Greater |
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A marketing manager is primarily responsible for |
Planning, pricing, and promoting products and overseeing their distribution |
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(BLANK) allows financial institutions to reduce costs by facilitating "paperless" transactions |
Automated teller machine |
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Which of the following organizational forms is the most expensive to set up? |
A corporation |
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(BLANK) allows consumers to perform an ever-widening array of financial transactions from their personal or work computers |
Online banking services |
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A company that has departments for marketing, finance, personnel, and production is organized by |
Function |
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Job rotation attempts to reduce the boredom created by specialization of tasks by |
Giving workers a variety of tasks to do on a regular basis |
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Cash, investments, accounts receivable, and inventory are |
Current assets |
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Dan bought 3 new trucks with a loan obtained from the First National Bank. If he fails to repay the loan, the bank will repossess the trucks. The trucks typically represent |
Collateral |
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What are the fundamentals of the accounting process? |
The accounting equation and the double-entry bookkeeping system |
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Allowing some employees to work at home part-time is |
A flexible scheduling strategy |
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When used to accumulate wealth, money functions as a |
Store of value |
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Which of the following elements is the most flexible variable in the marketing mix? |
Price |
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(BLANK) are websites where users can add to or edit the content of posted articles. |
Wikis |
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The principles and standards that determine acceptable conduct in business organizations are referred to as |
Business ethics |
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(BLANK) involved taking someone else's work and presenting it as your own. |
Plagiarism |
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Which of the following types of bonds offer relatively high rates of interest because they have higher inherent risks? |
Junk bonds |
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What is the last step that must be done before a firm's books can be closed for an accounting cycle? |
A CPA must attest that good principles were used in the preparation of the document |
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Which of the following forms of business ownership is the easiest to establish? |
Sole proprietorship |
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(BLANK) is the process of analyzing what fixed assets, projects, and investments will earn profits for a firm beyond costs necessary to fund them |
Capital budgeting |
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What is meant by the term owners' equity? |
All the money that the firm has that does not need to be paid back |
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(BLANK) is best described as the lack of funds to operate a business normally |
Undercapitalization |
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Corporations usually employ (BLANK) to help sell their securities in the primary market. |
Investment banking firms |
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All of the following are major management functions EXCEPT |
Advertising |
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A (BLANK) is a web-based meeting place for friends, family, coworkers, and peers that lets users create a profile and connect with other users for a wide range of purposes |
Social network |
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The (BLANK) is a federal agency established by the Civil Rights Act of 1964 and dedicated to increasing job opportunities for women and minorities in eliminating job discrimination based on race, religion, color, sex, national origin or handicap |
Equal Employment Opportunity Commission |
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Which of the following products is most suitable for selling through a total-market approach? |
Salt and sugar |
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The functions of organizing, staffing, cleaning, and controlling are most closely associated with |
Managers |
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(BLANK) is the most flexible elements of the marketing mix. |
Price |
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The Federal Reserve Board is primarily responsible for |
Creating a stable environment for economic growth |
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Long-term liabilities are |
Debts that will be repaid over a number of years |
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A primary reason for using standardization is to |
Reduce production costs |
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Which of the following needs is at the top of Maslow's hierarchy of needs? |
Self-actualization |
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The owners' contributions to a company and learnings retained to finance continued growth and product development are |
Owners' equity |