WorksheetsFinal Exam - BM1
Total questions: 120
Worksheet time: 1hrs 28mins
Determine the Model for starting your design
firm: A few firms Kohn Pedersen Fox being one of
the best known--got off the ground due in large part
to the exceptional sales skills and client
relationships of one or more of the founders.
Sponsor
.Supersalesperson
Golden Handshake
Spin-off
Determine the offices organized under foreign
laws:
Allows the parent company to maintain direct
control over operations in a different location
Representative Office
Regional Headquarter
Branch Office
Regional Operating Headquarter
Which is not an accounting report used in a
company?
Profit and Loss
Declaration of Asset
Cash Flow
Balance Sheet
Determine the offices organized under foreign
laws: A specialized type of office that not only
oversees and manages regional operations but
also provides specific services such as logistics,
technical support, and shared services to affiliates,
subsidiaries, or branches in the region.
Regional Headquarter
Representative Office
Branch Office
Regional Operating Headquarter
Determine the factors that affects the industry of
architecture: Most competitive firms have already
transitioned to BIM modeling. But that's just the
start. The incorporation of 3D virtual reality (VR)
experiences via fully immersive VR headsets,
wherein the client can walk through a full scale
building even prior to the start of construction, is
already possible.
Technology
Demographics
The architect’s role
Revenue
Determine the type of business organization:
Easy and inexpensive to set up and operate
Sole Proprietorship
Corporation
Partnership
Stock Corporation
.Determine the type of business organization:
Can raise significant capital by issuing shares.
Partnership
Corporation
Sole Proprietorship
Stock Corporation
Determine the factors that affects the industry of
architecture: The buying of smaller or even equal
sized firms by other firms in an effort to get a
foothold in either a new building type or geographic
area has been an active trend for the past several
years.
Revenue
The Architect's Role
Technology
The Shrinking Marketplace
Determine the Model for starting your design
firm:
More typically, the founders of a new firm
spend their early years rising to senior positions
below partner level in their former firms, and while
there build strong personal reputations and
reference lists, as well as a modest base of
"moonlight" clients too small for their former
employers. Then they break away.
Supersalesperson
Spin-off
Sponsor
Golden Handshake
Determine the factors that affects the industry
of architecture: Does architecture school truly
prepare one to work as an architect upon
graduation?
The Architect's Role
Revenue
Technology
Academia versus workplace
Determine the Model for starting your design
firm: Many of the best-known, design firm
principals have relied on their teaching positions to
provide them with the basic income, time,
credibility, and exposure to lay the foundations of a practice
House for Mother
Major client as first stage booster
Academic Incubator
the Better Mousetrap
Determine the offices organized under foreign
laws:
Enhances strategic control and coordination
over regional operations.
Representative Office
Branch Office
Regional Operating Headquarter
Regional Headquarter
Determine the offices organized under foreign
laws: Provides a presence in the market for
customer service and marketing purposes.
Regional Headquarter
Regional Operating Headquarter
Branch Office.
Representative Office
What is considered the realities of the market of
the Architecture More construction, more jobs for
architects
More construction, lesser jobs for architects
lesser construction, more jobs for architects
More construction, more jobs for architects
lesser construction, no effect on architects
Determine the Model for starting your design
firm: The firm is founded. or taken beyond the start
up with the support of a single client willing to
gamble on a young firm.
Academic Incubator
House for Mother
the Better Mousetrap
Major Client as First-Stage Booster Rocket
What is considered a factor that affects the
industry of architecture?
Economic Pressure
Engineer's Role
Site Development Planning
Academia versus Workplace
Why has the Architecture industry considered
having an identity problem
We inform the public of what we do
We know how to market our profession
Tig drawing notion
Because we coordinate with engineering field
Determine the type of business organization:
Composed of 2 or more but less than 5 business
owners.
Partnership
Corporation
Sole Proprietorship
Stock Corporation
Determine the Model for starting your design
firm: Some firms see an unmet need and set out to
fill it. In past years, this has included firms that first
focused on specialties, such as recycling historic
structures, or smaller projects in communities not
served by enough strong local designers, or,
currently, sustainable design.
House for Mother
the Better Mousetrap
Academic Incubator
Major Client as First-Stage Booster Rocket
Determine the offices organized under foreign
laws: An office established by a company to
conduct market research and promote the
company's products and services but not to
engage in direct sales or revenue-generating
activities.
Regional Operating Headquarter
Branch Office
Representative Office
Regional Headquarters
Determine the factors that affects the industry
of architecture: Thus far since 2016, the discipline
has been steadily growing overall, with the
Architectural Billings Index creeping upward since
January of last year. Signs are indicating that the
profession has weathered the storm and is slowly
bouncing back to the revenue highs prior to the
2007 recession.
Technology
Revenue
Demographics
The Architect's Role
Determine the Model for starting your design
firm. For some new firms, the booster rocket
comes in the form of a project for a family member
or one completed using family money.
House for Mother.
the Better Mousetrap
Academic Incubator
Major Client as First-Slags Booster Rocket
Determine the type of business organization:
Conflicts between partners can disrupt business
operations.
Partnership
Corporation
Sole Proprietorship
Stock Corporation
Determine the type of business organization.
The owner has complete control over all business
decision
Stock Corporation
Sole Proprietorship
Corporation
Partnership
Determine the factors that affects the industry
of architecture: Mich the emergence and
subsequent wide spread adoption of three
dimensional technologies. like Google Earth and
SketchUp software, the profession has become
prime fodder for a technological revolution.
The Architect's Role
Technology
Revenue
Demographics
Determine the offices organized under foreign
laws: An office that manages and oversees the
operations of the company's other offices or
subsidiaries in a specific geographic region. It
coordinates regional strategy and operations.
Regional Headquarter
Branch Office
Regional Operating Headquarter
Representative Office
Determine the factors that affects the industry
of architecture: Records from the Bureau of Labor
Statistics Indicate that there were 112,600
architecture jobs in the United States in 2014. An
NCARB survey however, shows that there are only
107,581 licensed architects.
Demographics
The Architect's Role
Revenue
Technology
Determine the factors that affects the industry
of architecture: The last 20 years of the
architectural industry have seen the diminishing
responsibility of the architect in the design and
construction process as other professionals enter
the picture.
Revenue
Demographics
The Architect's Role
Technology
What is considered not a factor that affects the
industry o architecture?
Revenues
Technology.
The Architect's Role
Civil Engineering Work
Determine the type of business organization: A legal entity separate from its owners
(shareholders). It can own property, incur liabilities, and sell stock.
sole Proprietorship
Corporation
Partnership
Branch Office:
Determine the offices organized under foreign
laws Cannot engage in direct commercial or
revenue-generating activities.
Regional Headquarter
Branch Office
Regional Operating Headquarter
Representative Office
Determine the type of business organization:
Shareholders' liability is limited to their investment
in the corporation
Corporation
Partnership
Sole Proprietorship
Branch Office
Determine the type of business organization: A
corporation that does not issue shares of stock and
typically operates for non-profit purposes
Stock Corporation
Corporation
Non-Stock Corporation
Sole Proprietorship
Determine the Model for starting your design
firm: When Brad's grandfather had to leave his
position as head of the drafting room of Burnham
and Root in the contraction after the 1893
Columbia Exposition, Daniel Burnham helped get
him his first commission.
Spin-off
Sponsor
Golden Handshake
Supersalesperson
In a stock corporation, they are authorized to
distribute these to shareholders as surplus profits
on the basis of shares held
Dividend
Certificate of Ownership
Land Title
Stock
Determine the type of business organization:
Profits are taxed only once at the owner's personal
income tax rate.
Stock Corporation
Corporation
Sole Proprietorship
Non-Stock Corporation
Determine the type of business organization.
The business does not continue if the owner dies
or becomes incapacitated
Sole proprietorship
stock corporation
non-stock corporation
Determine the factors that affects the industry
of architecture: Salary.com indicates that the mean
salary for an entry level Architect position is
$47,639, This is in comparison to 885,014 for
Mechanical Engineer I and $68, 144 for Electrical
Engineer I. Even from matriculation, the value of
the architect is not seen as equivalent to the
engineering subconsultants that they hire.
Revenue
Technology
The Architect's Role
Demographics
Determine the Model for starting your design
firm: This model is very complex because—as at
JFPA—it involves assuming substantial financial
liabilities, an established image, and an
established senior organizational structure.
Phoenix
Golden Handshake
Supersalesperson
Sponsor
Determine the offices organized under foreign
laws: An extension of the parent company that
conducts business activities similar to those of the
parent company. If is not a separate legal entity but
rather an extension of the parent company
Representative Office
Regional Operating Headquarter
Regional Headquarter
Branch Office
Determine the means of listening to clients:
workable structure for a professional firm user
group is as follows. A small (five to seven
participants) group of respected clients is asked
whether it would be prepared to attend periodic
meetings (two or three times a year) to discuss the
firm's service offerings in a particular area.
Senior partner visits
User groups
Market research
Attending client industry meetings
Reverse seminars
Determine what is feels like to be a client/buyer:
I'm not sure I know how to detect which of the
finalists is the genius, and which is just good. I've
exhausted my abilities to make technical
distinction.
I'm feeling threatened.
I'm taking a personal risk.
I'm impatient.
I'm feeling insecure.
The term Unique Selling Proposition or USP is
a term developed by whom?
Rosser Reeves of Ted Talks
Rosser Reeves of Ted Bates and Company
Roger Sleeve of Ted Blake
Roster Jack of Ted Blake and Co
Determine the client service quality program
front: many firms have, particularly in recent years,
instituted various means of obtaining feedback
from clients, including such approaches as
engagement team debriefings, occasional
managing partner visits, and so on.
Training
Measurements
Management
Rewards
Tips and tools
What is the First Law of Service?
Satisfaction equals Expectation minus Perception
Perception equals Satisfaction plus Expectation
Expectation equals Perception minus Satisfaction
Satisfaction equals Perception minus Expectation
Determine what is feels like to be a client/buyer:
Whoever I hire, I'm going to have to reveal some
proprietary secrets, not all of which are flattering. I
will have to undress.
I'm impatient
I'm taking a personal risk
I'm exposed
I'm feeling insecure
Determine the practice development steps:
Effective word of mouth only results when the
client is delighted and eager to work with the
individual again.
Istening
Courting
Nurturing
Broadcasting
Superpleasing
Determine the basic marketing strategies known
as the A'Ps: Is there a demand for the product or
service?
Promotion
Product
Place
Price
Determine the client service quality program
front: each partner and member of the
engagement team receives a cop of their client's
response. The managing partner should examine
each response and discuss the individual relies
with the engagement partner (or engagement
team).
Training
Rewards
management
tips and tools
Measurements
Determine the practice development steps:
otherwise known as "gathering market intelligence”
Listening
Broadcasting
courting
nurturing
Determine the practice development steps:
Clients do not like to be taken for granted, and they
expect their "suppliers" to invest visibly in the
relationship to earn future business.
Listening
Superpleasing
Courting
Nurturing
Which of the following is part of the first team as
marketing tactics?
Direct mails
Brochures
Publicity
Proprietary research
Determine the means of listening to clients: A
valuable opportunity to listen to clients talk about
their challenges, interests and needs is to go
where they go to discuss such subjects, that is, to
their industry or trade meetings.
Market research
Reverse seminars
Senior partner visits
attending client industry meetings
Determine the basic marketing strategies
known as the 4'Ps: Can the company make a profit?
price
product
place
promotion
Which does not form among the 5 rules in
choosing a company name?
A winning company name may include
information about what your company does.
A winning company name should have a
positive connotation.
A winning company name has to be fairly long.
A winning company name needs a visual
element
Determine the client service quality program
front: Skill-building programs will require the
identification of classic client situations, the
development of role-play scripts, and the design of
materials. In some firms, these include a critique of
current programs on "how to handle a meeting."
"presentation skills," and the like
Rewards
training
management
tips and tools
Determine the client Service quality program
front: many firms have, particularly in recent years,
instituted various means of obtaining feedback
from clients, including such approaches as
engagement team debriefings, occasional
managing partner visits, and so on.
management
tips and tools
training
measurements
In Generating Leads. this forms part of what
marketing channels: family and friends
Personal networks
Pro bono
social media
writing
Determining the marketing tactics: If the goal
of marketing is to demonstrate that you have
something to offer that your competitors do not,
conducting research on topics of interest to
prospective clients is an obvious, if neglected, tool.
Proprietary research
Seminars (small-scale)
Articles in client oriented (trade) press
Speeches at client industry meetings
Determine the practice development steps:
includes all those activities that generate leads,
enquiries, and opportunities with new clients
Nurturing
Broadcasting
Courting
Listening
Determine the basic marketing strategies known
as the 4'Ps: Storage. Warehousing. Transporting
Promotion
Product
Price
Place
According to the journal article written by Adedapo Oluwatayo, which among the following is not part of the consideration in choosing an architect?
Acquaintance with the Architect
Construction Budgeting
Budget
Prominence of the Architect
Determine the practice development steps:
Highest ROl, which caters to existing clients,
aware of a new need
Nurturing
listerning
superpleasing
courting
Determine the means of listening to clients: A
major, and common, form of listening to clients is
a more or less formal program of visits to key
clients by senior partners of the firm
Attending client industry meetings
Reverse seminars
Senior partner visits
User groups
Determine the practice development steps:
This activity is traditionally called selling and
proposing, but such words fail to capture what is
truly required.
Courting
Listening
Superpleasing
Nurturing
Which of the following is part of the first team
as marketing tactics?
Seminars (small-scale)
Community/civic activities
Networking with potential referral sources
Newsletters
Determine the means of listening to clients: If
a seminar is where the professional firm invites a
group of clients together and talks to them, where
the firm invites the client executive to come and
talk to the members of the firm.
Reverse seminars
User groups
Market research
Senior partner visits
According to the journal article written by Adedapo Oluwatayo, which among the following is not part of the consideration in choosing an architect?
Responsiveness of the Architect
Personality of the Architect
Service Quality of the Architect
Prominence of the Architect
Determine the basic marketing strategies
known as the 4'Ps: Distribution is getting the right
product to the right place at the right time in the
right amount and in the right condition
Place
Promotion
Price
Product
Determine the client service quality program
front: The final step in a full-service quality program
is ensuring that those who excel in this area (as
revealed by client satisfaction scores) are
rewarded, and those who do not are penalized in
some way
tips and tools
training
rewards
measurements
According to the journal article written by Adedapo Oluwatayo, personal relationship as a variable is part of which variable?
Budget
Responsiveness of the Architect
Prominence of Architect
Personality of Architect
In Generating Leads, this forms part of what
marketing channels: Google AdWords, print
Directory listings
Paid Advertising
Design Competition
Personal networks
Determine the client service quality program
front: each partner and member of the
engagement team receives a copy of their client's
response. The managing partner should examine
each response and discuss the individual replies
with the engagement partner (or engagement
team).
training
Tips and tools
Measurements
Management
Determine what is feels like to be a
client/buyer: This is my area of responsibility, and
even though intellectually I know I need outside
expertise, emotionally it's not comfortable to put
my affairs in the hands of others.
I'm impatient.
I'm feeling threatened.
I'm feeling insecure.
I'm taking a personal risk.
Determine the practice development steps:
Lowest ROl which caters to prospective client, not
aware of a new need
Listening
Courting
Broadcasting
Broadcasting
Which of the following is not part of the second
string as marketing tactics?
Networking with potential referral sources
Community/civic activities
Newsletters
Advertising
Determine the practice development steps: By
definition, broadcasting, activities, which include
such things as seminars, articles, newsletters, and
speeches, have more than one person in the
audience.
Courting
Broadcasting
Listening
Superpleasings
Determine the client service quality program
front: Skill-building programs will require the
identification of classic client situations, the
development of role-play scripts, and the design of
materials. In some firms, these include a critique of
current programs on "how to handle a meeting,"
"presentation skills," and the like
training
measurement
rewards
tips and tools
In Generating Leads. this forms part of what
marketing channels: Facebook, Pinterest, Houzz,
Social Media
Professional Networks
Publications
Design Competition
Determine the client service quality program
front: The final step in a full-service quality program
is ensuring that those who excel in this area (as
revealed by client satisfaction scores) are
rewarded, and those who do not are penalized in
some way
Management
Measurements
Rewards
training
Accounting method that recognizes revenue
when payment is received in cash, and that
recognizes expense when cash is disbursed.
Cash Accounting
Accrual Accounting
Projectile Accounting
Financial Management
What happens to the company's asset, liabilities, and owners equity in the following
scenario: The contractor purchases equipment on an installment basis
Asset increases, liability increases
Asset increases, Equity increases
Asset decreases, liability decreases
Asset decreases, equity decreases
Determine if Asset, Liabilities, or Equity:
Investment by Owner
Liability
equity
asset
asset
What happens to the company's asset, liabilities, and owners equity in the following
scenario: The principal architect withdraws cash to purchase gaming chair for the architectural firm
Asset decreases, asset increases
Asset increases, no effect in liability and equity
Asset decreases, equity decreases
No effect
What happens to the company's asset,
liabilities, and owners equity in the following
scenario: The principal architect receives
downpayment from client without presenting any
plans or drawings.
Asset decreases, equity decreases
Asset increases, Equity increases
Asset increases, liability increases
Asset decreases, liability decreases
Which is not a source of capital?
Loans from relative
small business administration
none of the above
Personal savings
Project related expenses that, by agreement
with the client are to be directly reimbursed.
Direct expense
. Reimbursable Expense
Indirect Expense
The junior architect request cash to print a
tarpaulin for a specific project. What do you call
this expense?
Direct expense
Reimbursable expense
Indirect expense
Miscellaneous expense
Expense items paid in operating the business
that are not chargeable to specific projects;
collectively often called overhead.
Expense
Indirect expense
Direct expense
Reimbursable expenses
The junior architect request cash to purchase.
A3 sized paper for their presentation the next
morning. What do you call this expense?
Indirect expense
Direct Expense
What happens to the company's asset,
liabilities, and owners equity in the following
scenario: The junior architect request cash to
purchase A3 sized paper for their presentation the
next morning.
Asset increases, equity increases
Asset decreases, liability decreases
Asset decreases, equity decreases
Asset increases, liability increases
Value generated by the firm's employees,
excluding value attributable to consultants or to
nonlabor project expenses for reproductions,
travel, and so on.
Net worth
Liabilities
Net revenues
Income Statement
An engineer is paid for his consultation on a
certain project. What do you call this expense?
Indirect expense
direct expense
reimburssable expense
How long is advised duration to convert
account receivable into cash in an architectural firm?
30 Days
13 Days
30 Months
13 Months
How do you treat the utilities expense in
accounting?
Direct expense
Indirect expense
Revenue remaining after direct and indirect
expenses.
Operating Cost
Operating Income
Which is not a source of capital?
None of the above
PAG-IBIG loan
personal credit cards
commercial loans
Which is not a consideration when preparing
for a capital?
legal and accounting assistance
b. None of the above
Acquisition of office space
Furniture, fixtures, and equipment
When the draftsman made use of the
company's car to visit 3 project, how do you treat
the expense in accounting?
Direct expense
Indirect expense
Determine if Asset, Liabilities, or Equity:
Accounts Receivable
equity
liability
asset
Determine if Asset, Liabilities, or Equity: Notes
Payable
asset
liability
equity
Costs that can be charged to specific projects.
Included are the costs of staff working on the
project, outside consultants, and other costs
associated with the project such as printing, travel,
and long distance communication.
expense
indirect expense
direct expense
reimbursable expense
The junior architect requested cash for
company car's fuel as he will visit a project in
Bukidnon. What do you call this expense?
direct expense
indirect expense
When the draftsman made use of the
company's car to visit his assigned project, how do
you treat the expense in accounting?
direct expense
indirect expense
.What happens to the company's asset,
liabilities, and owners equity in the following
scenario: The principal architect earns profit as a
researcher for an institution.
Asset decreases, equity decreases
no revenue recorded
Asset decreases, no effect in equity
Asset increases, no effect in equity
Determine if Asset, Liabilities, or Equity:
Equipment
asset
liabiloity
equity
What happens to the company's asset,
liabilities, and owners equity in the following
scenario: A new partner joins the company and
puts 100,000 pesos in cash as an investment
Asset decreases, equity decreases
Asset increases, equity increases
Asset increases, equity decreases
Asset decreases, equity decreases
The value of the owners' equity in the firm;
basically, assets less liabilities: in a proprietorship,
the proprietor's capital account; in a partnership,
the total of the partners' capital accounts; in a corporation, the total of capital stock, plus paid in
capital, plus retained earnings.
Net Revenues
Income statement
Net worth
Determine if Asset, Liabilities, or Equity: Cash
asset
liability
equity
What happens to the company's asset,
liabilities, and owners equity in the following scenario: A withdrawal by the owner at the end of the moth ending December 2024
Asset increases, equity decreases
Liabilities increases, equity decreases
Asset decreases, equity decreases
Liabilities decreases, equity decreases
Which is not shown in the income statement?
Accounts Receivable
Expenses
Disbursement
Revenue
Accounting method that recognizes revenues
as having been earned when services are
performed and that recognizes expenses when
they are incurred, without regard to when cash is
received or disbursed.
Financial Management
Projectile Accounting
Cash Accounting
Accrual Accounting
Which is not shown in the balance sheet?
Revenue
Asset
Liability
Networth
The junior architect requested cash for
company car's fuel as he will visit 5 sites later.
What do you call this expense?
Direct expense
Indirect expense
What is a method established to reflect the true
financial performance of a firm during a specific
period of time by matching revenue earned with
expenses incurred.
Accrual Accounting
Cash Accpunting
Determine if Asset, Liabilities, or Equity: Salary
Expense
Liability
Asset
Equity
The cost to operate the firm, including salaries,
rent, supplies, and so on, usually expressed as a
monthly total.
Accounts Payable
Operating Cost
Direct Expense
Indirect expense
Determine if Asset, Liabilities, or Equity:
Unearned Revenue
Liability
Asset
Equity
How do you treat the consultants' fee when
running an architectural firm?
expense
revenue
How do you treat the office draftman's salary in
accounting?
Direct expense
Indirect expense
