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Bfound
Bfound 2
66
Business
Undergraduate 1
05/06/2011

Additional Business Flashcards

 


 

Cards

Term

which of the following is not an asset

 

a. cash 

b. equipment

c. goodwill

d. revenue

Definition
revenue
Term

the standards developed by professional accounting organizations to identify appropriate accounting reporting standards are known as...

Definition
generally accepted accounting principles
Term

payroll checks can be considered as...

 

a. output

b. process

c. input

d. feedback

Definition
output
Term

which of the following is properly classified as a financing activity?

 

a. purchase of equipment

b. sale of inventory

c. collection of accounts receivable

d. payment of loan principal

Definition
payment of loan principle
Term

in economic terms, when demand and supply meet, the price of the product or service is establised. 

 

this is the point of...

Definition
equilibrium
Term

personal selling, advertising, public relations, and sales promotions are decisions made when planning the ___ strategy

Definition
promotion
Term

examples of internal control procedures include all of the following EXCEPT

 

a. accounting records should be cerified independently 

b. record keeping responsibilities should be separated           fromphysical control over resources

c. limit access to accounting records to top management

d. use pre numbered documents and forms

Definition
limit access to accounting records to top management
Term

a single set of hardware, software, databases, telecommunications, people and procedures that are configured to collect, manipulate, store, and process data into information is called a...

Definition
computer-based information system
Term

a ___ system could be used to cailitate business related exchanges such as sales to customers

Definition
transaction processing
Term

a collection of related data fields on a particular person, event, or object is called...

Definition
record
Term

short term loans

 

a. have a maturity of one year or longer

b. are always secured

c. are shown as a liability on the balance sheet

d. do not require any collateral

e. are shown as a capital expenditure on the balance sheet

Definition
are shown as a liability on the balance sheet
Term

the terms "risk" and "return" are related in that...

 

a. risky investments always generate low returns

b. when one oes up the other usually goes up

c. they generally rise and fall somewhat inversely

d. smaller investments usually incur smaller risk but            generate higher returns

Definition
when one goes up the other usually goes up  
Term

capsim foundation, before making decisions on the finance spreadsheet, you should make...

Definition
all R&D marketing and production decisions first
Term

which of the following statements is a DISADVANTAGE inherent in equity financing

 

a. the company is not required to repay equity

b. interest is tax deductible

c. equity has no maturity date

d. a firm has no obligations to pay dividends

e. equity owners have residual claim on income

Definition
equity owners have residual claim on income
Term

which of the following is NOT one the stages in the product life cycle?

 

a. maturity

b. introduction

c. decline

d. development

e. growth

Definition
development
Term

if thomas invested $20,000 to start athletic works and earned a profit of $1,600 what would be the return on the investment?

Definition
8%
Term

which of the following is NOT an example of a fringe benefit?

 

a. insurance program

b. pension plan

c. vacation plan

d. paid sick leave

e. commission

Definition
commission
Term

organizations that sell consumer goods that are produced by other companies are...

Definition
merchandising/retailing companies
Term

when kellogg's designed a new package for its special K plus cereal, it decided to make it look like a milk carton to emphasize the product's calcium content.  

 

this type of decisions was made as part of the __strategy

Definition
product
Term

a __ is a study of the tasks required to do a particular job well

Definition
job analysis
Term

for most organizations, __ supprot the routine, day-to-day activities that occur in the normal course of business

Definition
transaction processing system (TPS)
Term

the sales begin with the salesperson locating companies or people who are most likely to buy the seller's offerins. 

 

this activity is called...

Definition
target marketing
Term

which of the following statements about internal control is NOT true

 

a. an internal control system consists of policies and        procedures designed to protect an organization's          assets

b. an internal control system that helps ensure the           reliability of an organizations's accounting records

c. effective internal controls reduce the likelihood of          errors, omissions of misstatements in financial              statements

d. internal control systems apply only to somputerized       accounting systems

Definition
internal control systems apply only to computerized accounting systems
Term

identifying consumr needs and then producing the goos and services that will satisfy them while making profit for the organization is known as the...

Definition
marketing concept
Term

___ is a collection of facts organized in sich a way that they have additional value beyond the value of facts themselves.

Definition
data
Term

which of the following is NOT normally included in a US corporate annual report

 

a. the aduitors report

b. notes to the financial statements 

c. stakeholder statement

d. management's discussion and analysis

Definition
stakeholder statement
Term

what is the potential drawback to the use of debit financing?

Definition
debt financing increases the risk of not being able to make payments of principal and interests
Term

self checkout at walmart is a good example of a...

 

a. customer integrated system

b. enterprise resource planning system

c. management information system

d. decision support system

Definition
customer integrated system
Term

the occupational safety and health act requires...

Definition
employers to provide a safe and healthful workplace
Term

capsim foundation, what trend can be explicitly observed in the industry your company is operating in?

Definition
products become smaller and smaller
Term

capsim foundation, what are some effects of an increase in automation?

 

a. a decrease in labor hours

b. lower material cost

c. longer repositioning period in R&D

d. both a and c

e. a, b, and c are all effects of an increase in automation

Definition

both a and c

 

a decrease in labor hours

longer repositioning period in R&D

Term

in most situations, revenue is recognized at the time when...

Definition
goods or services are delivered to the customer
Term

which of the following is NOT on of the main activities for a human resouce manager

 

a. recruiting and selecting employees

b. training and developing employees

c. coordinating marketing and production activities

d. performance planning and evaluation

e. organizational careet management

Definition
coordinating marketing and production activites
Term

normally a decrease in the price of a product will cause...

Definition
an increase in the quantity demanded of the product
Term

which of the following is an element of the promotional mix

 

a. advertising

b. personal selling

c. public relations

d. sales promotion

e. all of the above

Definition

all the above

 

advertising

personal selling

public relations

sales promotion

Term

in a database, which attributes would make the best primary key?

 

Definition
social security number
Term

capsim foundation, when scheduling the number of products you want produced each year you will enter the data...

Definition
in the production schedule cell of the production spreedsheet
Term

capsim foundation, the perceptual map shows

Definition
the acceptable areas to the consumer concerning the size of the product and its performance
Term

capsim foundation, the promtion budget affects...

Definition
awareness
Term

which of the following is NOT a characteristic of valuable information

 

a. timeliness

b. accuracy

c. flexibility

d. complexity

Definition
complexity
Term

when stouffer's decided to sell its french bread pizza in convenience stores, supermarkets, and vending machines, it was involved with determining ___ strategy

Definition
place
Term

__ is a flexible manufacturing technique in which mass-market goods and services are tailored to the unique needs of the individuals who buy them

Definition
mass customaization
Term

the blackboard system that is used at the uofa is a good example of a 

Definition
enterprise resource system
Term

assets are...

Definition
resources owned/controlled by an organization
Term

the securities and exchange commission (SEC) is responsible for overseeing

Definition
external financial reporting by publicly traded companies
Term

which of the following most typifies a record

 

a. mary hones, jim smith, horace james

b. horage james, 820 union blvd., modesto, ca

c. name, address, city, state

d. part number 1

Definition
horage james, 820 union blvd., modesto, ca
Term

human resources management is the process of...

Definition
hiring, developing, motivating, and evaluating employees to achieve organizational goals
Term

reliance computers received a bank loan of $25,000.  which of the following statements is true?

 

a. the cash account would increase by $25,000

b. liabilities would increae by $25,000

c. the bank loan was a financing activity

d. all of the above are true

Definition

all of the above are true

 

 

the cash account would increase by $25,000

liabilities would increae by $25,000

the bank loan was a financing activity

 

Term

what are the 2 main types of external equity financing for a typical corporation

Definition
common stock and bonds
Term

the interrelated elements of the information system include all of the following except

 

a. input

b. processing 

c. output

d. resource planning

Definition
resource planning
Term

in a relational database, the customer record contains information regarding the customer's last name, the last name is a ...

Definition
attribute/field
Term

a strategy of charging a high introductory price for a new product that invities eventual competition is called price...

Definition
skimming
Term

which of the following is used to uniquely distinguish records so that they can be accessed, organized, and manupulated

 

a. character

b. attribute/field

c. primary key

d. entity/record

Definition
Term

inventory of $900 was purchased on credit.   proper entry to record this event in the accounting system would...

Definition
increase total assets, and increase total liabilities
Term

which one of the following well known national comapnies is PRIMARILY  a merchandising retailing firm

 

a. dell computers

b. first USA bank 

c. home depot 

d. harley davidson

Definition
home depot
Term

which financial statement reports the financial position of a firm at a specific point in time

Definition
balance sheet
Term

what will affect a company's contributed capital

Definition
the issuance of stock
Term
the primary reason most owners invest in business is in order to 
Definition
receive a return on their investments from profits earned by the business
Term

__ assets are cash or other resources expected to be converted to cash or consumed during the next fiscal year

Definition
current
Term

customer satisfaction

Definition
refers to the cusomer's feeling that a product has met or exceeded expectations
Term

expenses resuly when a business

Definition
consumes resources during the sale of goods
Term

primary purpose of accounting is to...

Definition
help people make decisions about economic activities
Term

capsim foundation, the primary buying criteria for each segment is...

Definition
price for low tech and positioning for high tech
Term

goal fo inventory managment is to....

Definition
minimize the costs and maintain accurate levels of inventory
Term

operating expenses should be reported on the icome statement after

Definition
cost of goods sold and before earnings per share
Term

capsim foundation, MTBF measures what

Definition
reliability
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