BM 2 1.01 Vocab (CW)

Multiple Choice

Balance sheets, break-even analysis, and cash flow analysis are all examples of controls relating to

• technology

• human resources

• marketing

• finance.

Multiple Choice

What is an audit?

• The process of reviewing company policies

• The process of verifying financial accounts and records

• The process of marketing a product

• The process of hiring new employees

Multiple Choice

Which financial statement captures the financial condition of a business at a specific moment?

• Income statement

• Balance sheet

• Cash flow statement

• Statement of Owner's Equity

Multiple Choice

What is the primary goal of break-even analysis?

• To calculate net income

• To determine the level at which revenues equal costs

• To predict future revenue

• To analyze return on investment

Multiple Choice

What does cash flow analysis determine?

• The amount of profit a business will make

• The amount of cash a business has to work with at a given time

• The long-term financial growth of a business

• The value of assets owned by the business

Multiple Choice

What are concurrent controls?

• Mechanisms used before tasks occur

• Mechanisms used after tasks are completed

• Mechanisms used to monitor and regulate tasks as they occur

• Mechanisms used to improve employee motivation

Multiple Choice

What is the purpose of controlling as a management function?

• To motivate employees

• To manage the company's financial statements

• To monitor and guide work efforts

• To decide the company's marketing strategies

Multiple Choice

Which of the following is an example of feedback controls?

• Reviewing past performance to make future adjustments

• Setting goals before starting a project

• Creating plans for future activities

• Providing initial guidance before tasks begin

Multiple Choice

Feedforward controls are used to:

• Control tasks after they are completed

• Monitor and regulate tasks before they occur

• Correct issues after they happen

• Improve employee satisfaction

Multiple Choice

What is a financial ratio used for?

• To track employee performance

• To analyze relationships between financial data in statements

• To determine the overall health of a company's employees

• To calculate future income projections

Multiple Choice

What is the purpose of financial statements?

• To display a company's financial activities

• To provide marketing data

• To forecast future sales

• To track customer complaints

Multiple Choice

A guarantee typically involves:

• Free shipping for customers

• The company returning money if a product is unsatisfactory

• Increasing product prices

• Offering limited product warranties

Multiple Choice

To motivate someone means to:

• Increase their salary

• Make them feel involved and prompt them to take action

• Monitor their work performance

• Assign them new tasks without feedback

Multiple Choice

What does return on investment (ROI) measure?

• The number of products sold

• The net profit in relation to the investment

• The total revenue for the company

• The number of employees hired

Multiple Choice

Which of the following best describes sustainability in business?

• Ensuring the company has the highest short-term profits

• Managing long-term financial, social, and environmental risks

• Maximizing the return on investments annually

• Minimizing costs without concern for environmental impact

Multiple Choice

Test marketing is used to:

• Advertise new products globally

• Introduce a product to a small market to gauge acceptance

• Train employees for new product launches

• Predict future sales trends based on historical data

Multiple Choice

A warranty is a promise made by a seller to:

• Ensure the product will increase in value

• Replace or repair a product that does not perform as expected

• Refund the full purchase price at any time

• Provide product updates for free

Multiple Choice

What is an example of a concurrent control?

• Analyzing financial performance after the quarter

• Adjusting work processes while they are happening

• Planning sales targets for next year

• Reviewing past performance to make changes in the next quarter

Multiple Choice

The purpose of a balance sheet is to show:

• The future profits of a company

• The current financial condition of the company

• The overall employee satisfaction

• The company's future financial projections

Multiple Choice

Which of the following is an example of feedforward control?

• Reviewing employee performance after a project

• Preparing forecasts before a project starts

• Conducting market analysis after a product launch

• Adjusting plans after customer feedback

Multiple Choice

What does controlling as a management function involve?

• Creating new marketing strategies

• Monitoring, guiding, and correcting work processes

• Setting up new training programs for employees

• Expanding the company's reach into new markets