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Study Resources (Business Management)

    21. Cash flow ________ be negative before debt and equity infusions and ________ be negative after them. a. can, cannot b. cannot, cannot c. cannot, can d. can, can   22. Income statement projections realistically ________ in the first few months of operations. a. show losses b. show profits c. breakeven d. marginal profits   23. Ratio analysis can help business owners.
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– Multiple Choice Choose the most appropriate answer to the following questions:   1. Which of the following is one of the four Ps of marketing? a. population b. publicity c. product d. packaging   2. What is the smartest price strategy? a. Choose a pricing strategy that incorporates the psychology of pricing. b. Pick a pricing strategy that is different.
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  35. What are the seven rules for building a successful business?       – True-False   36. An entrepreneur is a person who assumes the risks of organizing and managing a business for the sake of reducing stress from the “rat race.” a. True b. False   37. Benefits of becoming an entrepreneur include independence, satisfaction, financial reward,.
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– Multiple Choice Choose the most appropriate answer to the following questions:   1. Products are tangible, meaning ________. a. you can't actually touch them b. you can sell them c. you can touch them d. you can see them   2. In the United States half of the private workforce is represented by ________. a. small business owners and.
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  35. How does Philip Kotler distinguish needs, wants and demands?   – True-False   36. A business that markets is the same as a market-driven business. a. True b. False   37. Your best option in market research is generally primary rather than secondary research. a. True b. False   38. The product life cycle compares gross profit to sales as.
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– Multiple Choice Choose the most appropriate answer to the following questions:   1. Psychographic analysis and behavioral analyses are examples of methods of ________. a. market research b. market segmentation c. marketing d. positioning   2. Nike sells sneakers, but it also markets sneakers, using ________ to get its message out to customers. a. publicity b. advertising and publicity c. advertising d..
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    21. What type of business buys in bulk from a manufacturer and sells smaller quantities to a retailer? a. consumer driven b. broker c. wholesaler d. service firm   22. A ________ is a group of people who would be interested in buying a given product or service. a. market b. consumer c. customer d. target   23. The business definition has.
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    51.Which of the following was the primary argument by proponents of agriculture which Alexander Hamilton refuted? a.The United States had a comparative advantage in agriculture b.The British would prevent the growth of manufacturing in the United States which military force if necessary c.Agriculture had to create economic value which covered the cost of.
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  35. Steve has heard that formulating a common-sized statement for analysis is a good practice. Explain what he needs to do.   – True-False   Circle the most appropriate answer to the following questions.   36. The power of the income statement is that it will tell you whether you are fulfilling the formula of.
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– Multiple Choice Choose the most appropriate answer to the following questions:   1. Entrepreneurs use a ________ to track assets and liabilities. a. income statement b. cash flow statement c. balance sheet d. profit and loss   2. The last line of an income statement shows a business's ________. a. gross profit or gross loss b. profit or loss c. net.
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– Multiple Choice Choose the most appropriate answer to the following questions:   1. A(n) ________ is a document that thoroughly explains a business idea and how it will be carried out. a. resume b. marketing plan c. analysis d. business plan 2. Bankers and other potential investors will often refuse to see an entrepreneur who does not.
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    11. Everything that a business does to keep its customers happy is called ________. a. customer service b. customer appreciation c. post-sale service d. customer satisfaction             12. Joe Girard's Law of ________ states that just a few unhappy customers can keep a great many other customers away from your business. a. 250 b. Sales c. 200 d. sales averages   13..
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    41.In All Men Are Brothers, Mahandas Gandhi wrote, “I must confess that I do not draw a sharp line or any distinction between economics and ethics.” This means that: a.Economic activity is devoid of ethics. b.The study of economics cannot include the study of ethics. c.Human values and commercial activity cannot be separated. d.Gandhi.
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    21. Good marketers know that a(n) __________ is the heart of the marketing plan. a. researching suppliers b. sales forecast c. analysis of the market d. price/profit schedule   22. New entrepreneurs often feel they should sell their product or service at the lowest price they can afford. However, ________. a. purchasers of luxury goods may want.
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    21. Fixed Operating Costs ________. a. are not included in COGS b. are not direct costs of creating each product c. include expenses like the DSL bill and rent d. All of the above.   22. ________ is the general rise in the price of goods and service in an economy. a. Recession b. Deflation c. Inflation d. Hyperinflation               23. Business.
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- Multiple Choice Choose the most appropriate answer to the following questions:   1. The bedrock principle of business is that it should __________. a. please its customers b. advertise better than its competitors c. earn a profit d. continually improve   2. Which two categories below are used for business costs? a. materials and labor b. gross and net c. fixed.
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    21. There is a subtle difference between the ________ and the ________ of a product.  One is a fact while the other is a perception. a. revenue / costs b. sales / marketing c. features / benefits d. None of the above.   22. Research carried out indirectly through other existing resources is called ________. a. secondary.
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– Multiple Choice Choose the most appropriate answer to the following questions:   1. If you decide to pay yourself a commission from your business, you will be earning _______. a. a percentage of your business profit. b. a percentage of each sale. c. a set salary. d. a bonus   2. Entrepreneurs ________ constantly, not just to customers,.
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    11. Successful entrepreneurs use their financial records to prepare ________ income statements that show sales and costs for the previous period. a. monthly b. quarterly c. yearly d. All of the above.             12. To create a same size analysis, calculate each line item as a percentage of ________. a. sales b. income c. costs d. profit   13. Income statements can.
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  35. Discuss the concept of fixed costs and the types of fixed costs.  Can fixed costs vary?     - True-False   Circle the most appropriate answer to the following questions.   36. You should create your total product or service concept early on. a. True b. False   37. Although there are numerous pricing strategies to use in the.
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  35. Briefly describe a product or service idea, e.g., a bookstore, and describe how you might create a competitive advantage.   – True-False   36. A solid business definition has three elements: 1) the offer 2) target market 3) production and delivery capability. a. True b. False   37. Your company’s vision defines the work environment. a. True b..
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    21. In the United Kingdom the income statement is called the ________. a. profit and loss statement b. balance sheet c. cash flow analysis d. None of the above.   22. Ideally you want to have a positive "double” bottom line. This means ________. a. you are achieving a profit and meeting your mission b. you have twice.
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  – Essay   Provide detailed and comprehensive information to support your answer. Where applicable use examples to support your answers.   32. A business that makes an excellent gross profit isn't necessarily profitable, but a business that does not show a gross profit cannot be profitable. Explain or disagree.   33. Jenny is worried because.
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    11. The ________ addresses the roles of the community, region, nation, and world in a business. a. business analysis b. environmental analysis c. industry analysis d. proof of market           12. Target market segments are defined by common factors such as ________. a. psychographics b. geography c. demographics d. All of the above.   13. A(n) ________ competitor provides a substitute product.
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  – Essay Provide detailed and comprehensive information to support your answer. Where applicable use examples to support your answer.   31. Before you can start your business, you must define it. Describe the questions the business definition answers and its three elements.   32. Describe the six factors of competitive advantage.     .
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  – Essay Provide detailed and comprehensive information to support our answer. Where applicable use examples to support your answers.   30. Explain 3 reasons why a start-up organization would have a written business plan.     31. What is the importance of having a professional, polished business plan?         .
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  34 What are the types of financial information to include in a business plan and why are they important?                 – True-False   35. A feasibility analysis is a study to assist in making a go/no go decision based upon a close examination of product/service, market, industry, and financial data in a sufficient.
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    35. Discuss the eight step sales call. Answer 1)Preparation - Prepare yourself mentally. Visualize the call in your mind. 2)Greeting - Greet the customer politely and graciously. Keep a two way conversation going. 3)Show the product or service - Personalizing it for the prospect or customer. 4)Listen to the customer - In successful sales.
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    11. Marketing is the satisfying of customer needs ________. a. regardless of profit b. with no attention to profit c. at no profit d. at a profit             12. An entrepreneur's market is ________. a. people who like your product b. the same as competitors’ markets c. a three square-block area surrounding his or her location d. the group of.
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  36. Explain the concept of payback period.   – True-False   37. A critical cost for a beginning business is the seed capital a. True b. False   38. It is wise to keep a reserve equal to one-fourth of the start-up investment. a. True b. False 39. Fixed operating costs can change over time. a. True b. False   40. Inflation is not.
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  – Essay Provide detailed and comprehensive information to support your answer. Where applicable, use examples to support your answers.   31. Explain how entrepreneurs can add value to scarce resources, and what signal they use to determine whether or not they are succeeding in doing so.     32. Describe three potential rewards of becoming.
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    11. The reward for satisfying a customer need is earning a ________. a. business b. discount c. profit d. referral         12. Profit is a sign that an entrepreneur has added value to the "scarce" ________ that he or she is using. a. goods b. employees c. resources d. customer service   13. Most of the world's businesses are ________ businesses. a. small b..
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  – Essay Provide detailed and comprehensive information to support your answer. Where applicable, use examples to support your answers.   31. How does a debt-to-equity ratio help describe the financial health of a company?       32. Define debt and equity and explain the difference between them. Where does each appear on financial statements?       .
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  – Essay Provide detailed and comprehensive information to support your answer. Where applicable, use examples to support your answers.   31. Why have so many successful entrepreneurs started out in sales?   32. Describe three sales call behaviors used by successful salespeople.       .
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1. To succeed, a business must satisfy a consumer need ________. a. at a price that covers the business’s costs b. at a price that provides the business with a profit c. at a price consumers can afford d. at a price competitor can’t match   2. What type of business produces a tangible product? a. wholesale b..
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