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Study Resources (Business Management)

  98.Describe the mechanics of a cash flow statement.   99.Briefly explain cost-volume-profit (CVP) analysis.  100.Briefly discuss the different types of budgets that make up the master budget.  101.What are some of the common management decisions that can be aided by the use of accounting information and procedures? Explain.      .
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  True / False Questions  1.A vending machine is a form of direct sales method.  2.A direct mail approach needs major inventory investment.  3.Creating and distributing a catalog online saves the cost of printing and mailing.  4.Consumers find telemarketing to be an agreeable method of selling a product or service.  5.Radio advertisements provide both geographic and.
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  41.Which of following survey methods is the most expensive?  A.Mail B.Telephone C.In person D.Online 42.Which of the following survey methods has the lowest return rate and does not allow for much flexibility?  A.Mail B.Face To Face C.Telephone D.Internet 43.By using multiple screens of questions in online surveys, respondents can select the screen they will see based on their responses to.
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  31.Legal obligations to give up things of value in the future are known as _____.  A.assets B.borrowings C.liabilities D.owners' equity 32.Which of the following is true of accounting equation?  A.It is used to place records into understandable categories that are useful for managing a business. B.It assumes that a successful business will stay in business and this.
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  81.In a marketing plan, a business should typically consider its _____ as the key component of its situational analysis.  A.creditors B.board of directors C.shareholders D.competitors 82.In the situational analysis of a marketing plan, companies that provide the same product or service are referred to as _____.  A.supporting industries B.direct competition C.stakeholder industries D.indirect competition 83.Warm Wish, a maker of woolen.
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  71.When an existing firm with the correct production capabilities makes your product for you, it is referred to as _____.  A.contract manufacturing B.a sheltered workshop C.e-tailing D.freight forwarding 72.A(n) _____ is a nonprofit organization or institution that provides business services by using handicapped or rehabilitated workers.  A.contract manufacturer B.e-tailer C.sheltered workshop D.fulfillment center 73._____ businesses have diverse operations and three.
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  Multiple Choice Questions   21.A _____ systematically articulates a business's product, price, distribution, and promotion strategy, and it also clearly identifies the business's target market and competition.  A.marketing plan B.balance sheet C.documentary draft D.mission statement 22.Creating a _____ is the first step in putting together a business plan.  A.codicil B.marketing plan C.technical plan D.capital plan 23.Mark has a brilliant business idea.
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  71.Which of the following best exemplifies personality segmentation?  A.Shoe Soul, Inc. produces three lines of sport shoes that cater to the high-end, mid-end, and low-end customers. B.Shoe Soul, Inc. makes different shoes for customers from the hilly areas and for those from the plains. C.Shoe Soul, Inc. segments its shoes as adventure shoes,.
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  31.Which of the following primary research methods is the least expensive for small businesses?  A.Conducting in-person surveys B.Conducting formal focus group interviews C.Using online survey services D.Hiring marketing research firms 32.Data gathered by simple observation that involves seeing what customers do rather than asking them refers to _____ research.  A.focus group B.survey C.ethnographic D.secondary 33.A manufacturing company is planning to.
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  31.Which of the following statements is true of catalogs?  A.Catalogs do not target particular types of consumers. B.Creating and disseminating catalogs online increases company costs. C.Most part-time entrepreneurs typically use existing catalogs for their products. D.Catalogs do not focus on any particular types of products. 32.A(n) _____ refers to a set of goods or services.
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  True / False Questions  1.One reason why accounting is important to a small business is that it shows how much your business is worth.  2.Financial accounting is forward-looking and attempts to predict the results of management decisions.  3.The accounting equation is simply stated as Assets = Liabilities - Owners' Equity.  4.Expenses are the value.
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  61._____ are specialists in export-related activities including tariff schedules, shipping, insurance, packing, transportation arrangements, customs clearing, and other export details.  A.Born internationals B.Freight forwarders C.Contract manufacturers D.Traffic generators 62.Which of the following can be exercised only when presented with specified shipping records?  A.A documentary draft B.A letter of credit C.A mail order D.A codicil 63.A _____ is a document issued.
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  41.Which of the following forms of direct response advertising allows very specific targeting and is appropriate for business-to-business selling?  A.Television B.Radio C.Magazine D.Billboard 42.A(n) _____ allows specific geographic segmentation.  A.newspaper B.magazine C.e-mail D.video 43._____ advertisements provide both geographic and demographic segmentation with a highly distracted audience.  A.Television B.Radio C.Magazine D.Newspaper 44._____ is a form of direct response advertising that reaches local people but does not.
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  82.In the case of existing customers, _____ gives the information on the date and type of contact, since in many sales situations, it can take repeated contacts before a sale is made.  A.channel data B.performance data C.intercommunication data D.sales data 83._____ is a type of CRM report that segments by customer or customer group on.
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  51.Questions that allow respondents to express themselves as they choose are called _____ questions.  A.open-ended B.categorical C.dichotomous D.scalar 52._____ questions provide data that are difficult to tabulate and compare.  A.Categorical B.Open-ended C.Scalar D.Dichotomous 53.When compared to open-ended questions, close-ended questions:  A.can be answered in many ways. B.provide data that are more difficult to tabulate. C.limit the information a researcher gets. D.take considerably more time.
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  52.Due to which of the following characteristics a news story is most likely to get public recognition?  A.Trendiness B.Cultural resonance C.Power D.Currency 53.Trendiness refers to:  A.a concept in public interest which alludes to events with a broad appeal within the market or population. B.a concept in public recognition which alludes to the impact level of the issue.
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  81.A _____ is a concession which covers the time while you prepare your location prior to opening.  A.rent-free use period B.leasehold improvement C.construction allowance D.hidden charge 82.Which of the following is true of leasing issues?  A.Landlords do not have the right to move a business elsewhere at their discretion. B.It costs more to limit the landlord's ability.
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  11.Brochures and flyers are types of promotional novelties.  12.Advertising costs are usually based on cost per hundred.  13.When it comes to promoting a small business that is just starting out, spreading the news by word-of-mouth is one of the surest ways to build a client base.  14.Most service providers get business usually through.
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  Multiple Choice Questions  21.Wholesalers and retailers who connect manufacturers to consumers are referred to as _____.  A.traffic generators B.manufacturing agents C.distribution channels D.business franchisors 22._____ refers to selling goods or services to consumers without intermediaries, typically to select customer groups and typically with tracking of the results.  A.Nondirect distribution B.Direct marketing C.Benchmarking D.Contract manufacturing 23.Which of the following is usually the.
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  81.The quantity of items sold times the price expected to be paid for each product is the calculation used for the:  A.overhead budget. B.sales budget. C.purchases budget. D.cost of goods sold budget. 82._____ is an accounting method which assigns costs based on the different types of work a business does in order to sell a.
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  32.How much of each message conveyance a business owner uses to sell his or her product as well as his or her objective in using each one is known as:  A.promotional mix. B.marketing mix. C.AIDA. D.CRM. 33._____ is often used to support the corporate identity and value propositions that are established through public relations efforts.  A.Personal.
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  11.Up-front cash payment by a consumer, prior to shipment of a product, is a payment risk to a company.  12.The primary areas for conflict resolution in exporting include nonpayment and contract default issues.  13.Doing business in a different location other than the hometown is comparatively less expensive.  14.There are three typical locations for.
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  Multiple Choice Questions  22.People who receive a promotional impression and who give some thought to buying the product are referred to as _____.  A.sales leads B.qualified leads C.prospects D.target segments 23.Which of the following terms refers to a rule of thumb about how many prospective customers it takes to find one who will actually make a.
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  11.Liquidity is a measure of the ability of a business to meet both short-term and long-term obligations.  12.Financial flexibility of a business is a matter of judgment, whereas financial strength is an objective assessment.  13.Cash flow statements can be either direct statements or indirect statements.  14.Expendables are necessarily fixed costs.  15.Variable costs decrease if.
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  51.A(n) _____ is a middleman business which buys and sells to businesses rather than consumers.  A.manufacturer B.agent C.wholesaler D.retailer 52.Wholesalers, retailers, distributors, agents are commonly referred to as ______.  A.freight forwarders B.intermediaries C.born internationals D.traffic generators 53.A(n) _____ refers to a middleman business which represents a manufacturer's products or services to other business-to-business middleman firms.  A.retailer B.wholesaler C.manufacturer D.agent 54.Which of the following statements is.
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  Essay Questions  91.Define value proposition. How can a business owner develop a value proposition?  92.What is segmentation? What are the typical ways of dividing the market into different segments?  93.Briefly describe any two ways by which business owners convey their promotional message.      .
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  62.Which of the following is an advantage of personal selling?  A.It helps in easily establishing and promoting a favorable opinion by the media. B.It helps business owners in generating finance for their business. C.It allows business owners to find out the buyers' main concerns and address them. D.It increases business owners' publicity. 63.In which of.
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  True / False Questions   1.A marketing plan is not required if a person plans to use his or her own personal savings and direct marketing.  2.The easiest way to find selling prices for products these days is on the Internet.  3.Hiring marketing research firms is a much more inexpensive option than online.
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  42._____ are the terms included in the hidden portions of a web page which are used by search engines to describe a website and evaluate its focus and category placement.  A.Domain names B.Keywords C.Search terms D.Embeds 43._____ is an electronic equivalent of word-of-mouth advertising.  A.Viral marketing B.Ambush marketing C.Sales promotion D.Trendiness 44.Mentions of a company or products in the media.
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  Multiple Choice Questions  21.An accounting method that is specifically intended to be used for planning, directing, and controlling a business is called:  A.tax accounting. B.managerial accounting. C.benchmarking. D.forensic accounting. 22._____ is a formal, rule-based set of accounting principles and procedures intended for use by outside owners, investors, banks, and regulators.  A.Tax accounting B.Managerial accounting C.Financial accounting D.Forensic accounting 23._____ is an.
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  72.Which of the following is true of customer retention?  A.It focuses on increasing customers' cognitive dissonance. B.It focuses on satisfying prospective customers to make a sale successful. C.It handles problems that crop up after a sale. D.The CRM aspect of customer retention is based on short-term monitoring of customers. 73._____ is a strategy whose goal.
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  True / False Questions  1.Sales leads who actually make some sort of effort to learn more about the product, service, or business in anticipation of a possible purchase are known as prospects.  2.The term "value proposition" refers to small business owners' unique selling points that will be used to differentiate their products.
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  61.If a firm is able to create a premium image in its customer's mind by offering a custom product or extra service, it should typically claim _____ as its pricing strategy and use it as a differential advantage.  A.loss leader B.penetration pricing C.going rate D.prestige pricing 62.While most cosmetic brands sell their products in specialty.
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