WorksheetsMarketing Applications 2.00
Total questions: 22
Worksheet time: 11mins
What should Jason avoid doing to shorten his sales cycles?
Avoid answering objections
Rely on other team members for product knowledge
While reviewing financial information, Troy noted that the company earned $245,956 in January, $248,122 in February, and $252,878 in March. Which most likely summarizes the financial situation?
Sales are steadily increasing.
Accounts receivable exceed accounts payable.
The price of raw materials used in manufacturing a product doubled what had been projected for the year. What can the business determine by analyzing its financial information?
Supply and demand
Variances
Errors in forecasting
A manager is most likely to use financial information for which situation?
In determining resources available to fund a new project
For researching the demographics of a new target market
For calculating the number of on-the-job injuries in the past year
In establishing lines of authority within an organization
During its 20 years of operation, the Normandy Company has made very few changes to its accounting methods and system. As a result, its financial information is likely to be in which condition?
Comparable
Consistent
Reliable
Conservative
Emma is reviewing the sales budget in relation to the actual sales generated for a set time frame. How is Emma using financial information in this situation?
To analyze the impact of aging accounts
To establish new quality standards and benchmarks
To identify external economic trends
To compare estimated performance with actual performance
Which is a way a business can use financial information?
To identify trends
To select selling strategies
To conduct focus groups
To create an economic system
A business estimates that its cash flow from sales during the upcoming season will be higher than it was for the same period last year. The estimate is possible based on this financial information and which other sources?
Realistic goals
Future earnings
Potential costs
Industry trends
Which is an example of current liabilities that a business should include in its balance sheet?
Owner's equity
Accounts receivable
Employees' salaries
Mortgage loans
What are the categories that a business uses to summarize information on their balance sheets?
Cash, budget, and credit
Equity, budget, and cash
Liabilities, equipment, and sales
Assets, liabilities, and equity
Why would a company need a flow of money?
ABD
To borrow
To exist
To sell
To invest
One reason why a business compares its income statement figures with those of competitors is to find out how it is doing in relation to which factors?
Industry standards
Research projections
Economic forecasts
Marketing procedures
What are often the largest sources of money flowing out of a business?
Payroll and benefits
Accounts receivable
Profit and loss
Goods and services
Which category of an income statement indicates total profit?
Bottom line
Cash flow
Gross profit
Net profit
An established business receives its primary flow of money from which source or sources?
Loans
Credit
Fees
Sales
The reason why a business prepares a balance sheet is to determine which factor?
The estimated annual income
The average cash flow
The current financial situation
The future sales goal
During economic fluctuations, taxes serve which purpose for the economy?
ABCD
Destroying
Reducing
Expanding
Stabilizing
The government decides to pass a new law requiring certain standards of air cleanliness be met. They will levy a tax on the production of automobiles that generate gas emissions above a certain limit. However, they also will provide tax incentives to automobile manufacturers for research and development of new cars with lower gas emissions. This is an example of which activity or activities?
Direct controls
Transfer payments
Hidden costs
Rent seeking
Gary believes that the upper class should pay a higher income tax rate than the middle and lower classes. What tax structure does Gary favor?
ABCD
Proportional
Regressive
Progressive
Exclusive
In the United States, how are public schools are usually funded?
Through corporate taxes
Through tariffs on imported goods
Through local property taxes
Through tax-exempt donations
Which is a function of some taxes?
ABCD
Decrease employee liability
Limit business profit
Control employee compensation
Regulate business activity
Which is a characteristic of taxes?
ABCEncouraged by consumers
Restricted to businesses
Levied by governments
Encouraged by consumers
Applied only to tangibles
