WorksheetsBA100: Survey of Business - Final Exam Review (ch8-15) 1-40Q
Total questions: 40
Worksheet time: 20mins
1. Stockholders typically want to view a firm's accounting information to:
be aware of possible layoffs in the near future.
understand the workloads of low-level laborer
check if the firm has enough funds to pay for the orders it has placed
know if management has generated a strong-enough return on investment
2.____ work within their organizations to detect problems such as waste, mismanagement, embezzlement, and employee theft
Gazetted officers
Revenue officers
Internal referees
Internal auditors
3. In the United States, the ultimate legal authority to set and enforce accounting standards lies with the _____.
Fund Standards Board
Domestic Banking Association
Internal Revenue Service
Securities and Exchange Commission
4. The major responsibilities involved in financial accounting are the preparation of the:
articles of incorporation, auditor's report, and master budget
journal ledger, cash budget, and company bylaws
statutory license, social audit report, and journal ledger
balance sheet, income statement, and statement of cash flows
5. _____ refers to the claims owners have against their firm's assets
Preferred stock
Owners' liability
Minority interest
Stockholders' equity
6. The Securities and Exchange Commission requires publicly traded corporations to provide _____
a list of their intangible assets
flexible budgets
a statement of retained earnings
comparative financial statements
7.The opportunity cost that arises when a firm uses owner-supplied resources is known as a(n) _____.
out-of-pocket cost
implicit cost
fixed cost
indirect cost
8. _____ is the functional area of business that is responsible for finding the best sources of funds and the best ways to use them
Marketing
Finance
Production
Operation
9. The _____ is computed by dividing a firm's cost of goods sold by average inventory levels.
tradable good quantity
average collection period
inventory turnover ratio
debt-to-assets ratio
10. _____ are the part of a firm's net income it reinvests.
Net liabilities
Counter credits
Retained earnings
Cash dividends
11. Financial managers should focus solely on meeting the financial needs of their firms in the short run, leaving the long-term financial issues to the top management.
True
False
12. Accounts receivable represents what customers who buy on credit owe the firm.
True
False
13. Historically, the most widely accepted goal of financial management has been to:
analyze the risk associated with investments
organize and manage a firm's resources
maximize the value of a firm to its owners
help a firm fulfill its social responsibility
14. Return-on-equity (ROE) and earnings per share (EPS) are both classified as _____.
activity ratios
liquidity ratios
leverage ratios
profitability ratios
15._____ represents what customers who buy on credit owe the firm.
Abandonment value
Apparent consumption
Interbank spread
Accounts receivable
16. _____ is the process a firm uses to evaluate long-term investment proposals.
Concessional financing
Inventory benchmarking
Capital budgeting
Black marketing
17.Financial capital refers to the:
money that a business earns in sales, minus the expenses
costs a business incurs when its expenses are greater than its revenues
funds a firm uses to acquire its assets and finance its operations
returns that a firm pays its owners for their investments in the company
18.In the context of accounting, which of the following best defines cost?
The value of equities a firm has at its disposal
The income from which public expenses are met
The income lost due to unaccountable decision-making
The value of what is given up in exchange for something else
19.In the context of balance sheets, accounts receivable is an example of _____
current liabilities
immovable assets
current assets
depreciated liabilities
20.In the accounting equation, assets are equal to:
liabilities plus owners' equity.
liabilities divided by gross profit
stockholders' equity subtracted from liabilities
owners' equity multiplied by net income
21. Which of the following is most likely to be a first-line management title in a large company?
Division head
Branch manager
Director
Section leader
22. In the context of management skills, top-level managers must demonstrate excellent:
conceptual skills
tactical skills
technical skills
operational skills
23. Maslow's hierarchy of needs theory states that people:
mostly fulfill their unmet needs through unfair means
view their unmet needs as unachievable
are only motivated to fulfill the needs that are achievable
are motivated to satisfy only unmet needs
24.The ultimate benefit that most businesses seek from marketing is _____.
utility
value
long-term profitability
customer satisfaction
25.The campaign "What happens in Vegas stays in Vegas" illustrates _____.
event marketing
idea marketing
people marketing
place marketing
26. The initiative "Don't drink and drive" is an example of _____.
people marketing
idea marketing
event marketing
place marketing
27. The first step in planning a marketing strategy is _____.
customer relationship management
environmental scanning
market segmentation
developing a marketing mix
28.The blend of marketing strategies for product, price, distribution, and promotion is known as _____
market segmentation
the market matrix
marketing divestiture
the marketing mix
29.Which of the following factors is part of the product strategy in the marketing mix?
Customer service
Warehousing
Sales promotion
Shipping
30._____ is the creation of products tailored for individual consumers on a mass basis.
Mass production
Mass marketing
Mass manufacturing
Mass customization
31. Demographic segmentation refers to dividing the market based on where consumers live
True
False
32. Idea marketing is often combined with _____ to market ideas that are meant to change how people think or act.
people marketing
place marketing
event marketing
relationship marketing
33. The uncontrollable environment forces that affect a marketing strategy of a company include the following except:
Business environment
Ecological environment
Technological environment
Cultural environment
34. A firm that seeks customers by means of one product and one marketing product and one marketing program is using:
Undifferentiated Marketing Strategy
Differentiated Marketing Strategy
Concentrated Marketing Strategy
Event Marketing Strategy
35. Keitras is a women's apparel store that specializes in winter clothing. It targets university students aged 20–25 with its trendy collection of sweaters, sweatshirts, stockings, and stoles. In the context of consumer market segmentation, which of the following types of market segmentation does Keitras most likely follow?
Demographic segmentation
Behavioral segmentation
Customer-based segmentation
Geographic segmentation
36. In the context of marketing research data, if the marketer of a company wants to gather secondary data, he or she should use _____.
mall interviews
a focus group
his or her own surveys
the company's product sales history
37. In the context of leadership, _____ share power with their followers.
totalitarian leaders
democratic leaders
authoritarian leaders
autocratic leaders
38. Maslow's hierarchy of needs theory states that people:38. Maslow's hierarchy of needs theory states that people:
mostly fulfill their unmet needs through unfair means
view their unmet needs as unachievable
are only motivated to fulfill the needs that are achievable
are motivated to satisfy only unmet needs
39. According to Maslow's hierarchy of needs theory, social need refers to:
the need to feel connected to others
the need to realize one's fullest potential
the need for self-respect and recognition
the need for basic survival
40. According to Maslow's hierarchy of needs theory, esteem need refers to the need:
for basic survival
to be free of harm and free of fear
for self-respect and respect from others
to realize one's fullest potential
