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Study Resources (Business Management)

  35. Compare the legal structure implications of a sole proprietorship and a Subchapter S Corporation for the seven parameters of 1) ownership, 2) liability, 3) taxation issues, 4) profit distribution, 5) voting on policy, 6) life of the legal structure, and 7) capitalization.         .
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  – Essay   Provide detailed and comprehensive information to support your answer. Where applicable, use examples to support your answers.   31. Why are contracts useful to business owners?   32. How is a legal entity, such as a corporation, similar to a person? If you owned a business, why might you want it to.
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    11. Which of the following is the bottom line on a cash flow statement? a. net profit b. cost of goods sold c. taxes d. ending cash balance             12. What are the two steps in making a cash flow projection? a. projecting receipts and paying bills before they are due b. projecting expected cash expenses and subtracting.
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  35. What are the Five "C's" of borrowing?     – True-False   Circle the most appropriate answer to the following questions.   36. The three common ways for a business to raise the capital it needs to grow are with earnings, equity, and debt. a. True b. False   37. The debt lender assumes greater risk than the debt.
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  – Essay   Provide detailed and comprehensive information to support your answer. Where applicable, use examples to support your answers.   31. How could the income statement potentially confuse a business owner?   32. Why would collecting all money owed within 30 days and paying bills in 90 days help protect a business? Is there.
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    11. The data collected from the customers in restaurants about the quality of food is an example of a(n) a. variable study. b. cross-sectional study. c. experimental study. d. observational study.       12. When working with large spreadsheets with many rows of data, it can be helpful to ____________ the data to better find,.
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– Multiple Choice Choose the most appropriate answer to the following questions:   1. Statistics indicate that more than half of all small businesses ________. a. survive ten plus years b. fail after three years c. survive eight or more years d. fail after the first year   2. A share of stock represents _________ in a company. a. interest b..
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      – Essay Provide detailed and comprehensive information to support your answer. Where applicable, use examples to support your answers.   31. Why is it important for an entrepreneur to pay him/herself regularly in a consistent manner out of the business's earnings?     32. You may not be able to afford full-time employees for your.
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  – Essay Provide detailed and comprehensive information to support your answer. Where applicable, use examples to support your answers.   31. Explain the traditional production-distribution chain.       32. Tell how to calculate Reorder Point (ROP) and Economic Order Quantity (EOQ).         .
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  – True-False   36. The limited liability company (LLC) combines the best features of partnerships and corporations and can be an excellent choice for small business with a limited number of owners. a. True b. False   37. Contract drafting and review is something the business owner can do and should do using law books.
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  – Essay Provide detailed and comprehensive information to support your answer. Where applicable, use examples to support your answers.   31. What would be some of the risks involved in loaning a friend money to help start a business?   32. Why might a bank be more willing to loan money to a large.
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- Multiple Choice Choose the most appropriate answer to the following questions:   1. Once you have established your brand, you can develop new products and use the brand to promote it. This marketing strategy is called ________. a. line extension b. branding c. line promotion d. brand extension   2. If you buy a franchise, you must pay.
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  – Essay Provide detailed and comprehensive information to support your answer. Where applicable, use examples to support your answers.   31. Describe three simple methods that can be used to estimate a selling price for a business:     32. Explain replication strategies and harvesting and how they differ.         .
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1. A quantity of interest that can take on different values is known as a(n) a. variable. b. parameter. c. sample. d. observation.       2. A set of values corresponding to a set of variables is defined as a(n) a. quantity. b. event. c. factor. d. observation.       3. The difference in a variable measured over observations (time,.
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    – True-False   36. A pacesetting style of leadership consists of a leader who sets very high personal performance standards and challenges employees to meet them too. a. True b. False   37. When checking a job applicant’s references, you should create a few questions that are pertinent to the job being filled and the.
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    21. Raising money for a business is an aspect of ________, which is the use of money for a purpose. a. comparative advantage b. equity analysis c. surety sequencing d. financing   22. If an investment is not risky, the reward or the potential return will probably be ________. a. around 20% b. high c. low d. around 15%   23. Bonds.
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    31. A better understanding of consumer behavior through analytics directly leads to a. more profits. b. better pricing strategies. c. reduced advertising costs. d. reduced risk.       32. A light bulb manufacturer uses descriptive analytics a. to present supply chain to managers visually. b. to achieve efficiency in delivery of goods. c. to schedule staff and vehicle.
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    11. The three factors included in the calculation of the Reorder Point are ________. a. demand, lead time, and safety stock b. supply, price, and safety stock c. demand, inventory, and price d. supply, demand, and holding costs           12. The family of standards for quality management systems established by the International Organization for Standardization is ________. a..
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    21. ________ insurance compensates employees for loss of income and for medical expenses due to job-related injuries. a. Short-term disability b. Disability c. Injury d. Worker’s compensation   22. ________ insurance is designed to cover in the event that a business (its employees) fails to do something that causes harm to a customer. a. Negligence b. Errors and.
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    21. ________, or spreading out the brand among many products and product lines can increase market share, but it can also ________ the company. a. Product line extension / unfocus b. Alliances / focus c. Diversification / focus d. Diversification / unfocus   22. A ________ is a business that markets a product or service in.
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    11. ________ are forms of gifts or grants to businesses. a. Tax abatements b. Tax credits c. Unpaid labor by friends and family d. All of the above           12. You could borrow money from friends and family who would like to invest in your business, or you could offer them ________. a. equity b. stock c. debt d. a.
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1. The decisions concerning an organization’s goals and future plans are called a. financial decisions. b. tactical decisions. c. strategic decisions. d. operational decisions.       2. Tactical decisions define a. the day-to-day activities of the organization. b. the goals and plans of the organization. c. the domain of operations managers, who are close to the customer. d. the.
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  - True-False   36. The most comprehensive approach to managing inventory is through visual control, safety stock, reorder points, and economic order quantity. a. True b. False   37. The factor-rating for location decisions uses criteria that are prioritized but not weighted. The purpose is to eliminate subjective considerations. a. True b. false     38. Home-based entrepreneurs have special.
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    41. A data ______________ is a request to obtain information with certain characteristics from a database.?     42. Business analytics is the __________________________ process of transforming data into insight for making better decisions.     43. A data __________________ is trained in both computer science and statistics and knows how to effectively process and analyze.
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    11. A(n) ________ is the amount of loss or damage that you agree to cover before any insurance coverage takes over. a. deductible b. carrying cost c. premium d. co-insurance     12. The form of protection offered under U.S. law to the authors of "original works of authorship" is a(n) ________. a. patent b. electronic right c. trademark d. copyright   13. What.
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    21. The ______________________ shows the number of data items with values less than or equal to the upper class limit of each class. a. cumulative frequency distribution b. frequency distribution c. percent frequency distribution d. relative frequency distribution       22. The ________________ is a point estimate of the population mean for the variable of.
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    11. A retail store owner offers a discount on product A and predicts that the customers would purchase products B and C in addition to product A. Identify the technique used to make such a prediction. a. Data query b. Simulation c. Data mining d. Data dashboards       12. ____________________ are used in the.
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Multiple Choice Choose the most appropriate answer to the following questions:   1. The amount of inventory to order that will total the minimum total ordering and holding costs is called the ________. a. Economic Order Quantity (EOQ) b. Economic Reorder Point (ERP) c. Reorder Point (ROP) d. Cost Accounting Point   2., The statistical methods, within Six Sigma,.
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    21. ?Utility theory is the study of the __________________ or relative desirability of a particular outcome that reflects the decision maker’s attitude toward a collection of factors, such as profit, loss, and risk. a. ?total worth b. ?total cost c. ?feasibility d. financial wellness       22. _____________________ refers to the technology that allows data, collected from.
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    11. The standards and rules in businesses that help someone decide right from wrong are called ________. a. corporate governance b. laws c. ethics d. morals   12. A business behavior might be legal but still not be ________. a. invalid b. ethical c. wrong d. profitable   13. Corporate scandals at Enron, WorldCom-MCI, and other firms are examples of failure of.
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    35. What are the tax issues for the various legal structures your business can have?     – True-False   Circle the most appropriate answer to the following questions.   36. Cash flow is the lifeblood of a business. a. True b. False   37. The cash flow statement is: cash flow = cash on hand + credit and cash.
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    – True-False   36. One way to grow your business is to use diversification which is the addition of offerings beyond your core product or service. a. True b. False   37. The benefits of franchising include growth with medium capital investment, lower marketing but higher promotional costs, and royalties. a. True b. False   38. Harvesting means to.
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    21. Every time an entrepreneur spends cash, she or he takes a risk. If one buys ________, then the entrepreneur faces the risk of storage costs and pilfering. a. a computer for your chief financial officer b. capital assets c. inventory d. None of the above.   22. Credit is ________. a. exemplified by purchasing a product.
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– Multiple Choice Choose the most appropriate answer to the following questions:   1. Madam C.J. Walker was an entrepreneur who became ________. a. the first female pharmacist in America b. the first African-American businessperson to become a millionaire c. the first entrepreneur to franchise a business d. the first self-made female millionaire   2. Research indicates that ________.
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    21. A key factor in deciding upon a location for a business is __________. a. access for suppliers b. located near utilities c. proximity to your accountant d. access to adequate labor pool   22. The set of actions that produce goods and services is called ________. a. shipping b. operations c. manufacturing d. processing   23. Manufacturing, warehousing, and _________ firms.
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    31. Compute the 50th percentile for the following data. 10, 15, 17, 21, 25, 12, 16, 11, 13, 22   a. 18.6 b. 13.3 c. 15.5 d. 17.7       32. Compute the third quartile for the following data.   10, 15, 17, 21, 25, 12, 16, 11, 13, 22   a. 21.25 b. 15.5 c. 21.5 d. 11.75       33. Compute the IQR.
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– Multiple Choice Choose the most appropriate answer to the following questions:   1. Which of the three financial statements an entrepreneur prepares is used to guide the day-to-day operations of the business? a. the cash flow statement b. the income statement c. the balance sheet d. tax returns   2. Which statement best describes how the cash flow.
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– Multiple Choice Chose the most appropriate answer to the following questions:   1. Obtain a trademark in order to ________. a. protect your logo b. register your business name c. protect all your intellectual property d. protect your business name   2. Infringement of intellectual property is ________. a. a business tactic b. a crime c. profitable d. legal in some states   3..
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