Which of the following organizations would be considered a nonbank institution?

Which of the following organizations would be considered a nonbank institution?a) Educational Employees Credit Unionb) Missouri Public School Retirement...

Internal audits are important because:

Internal audits are important because:a) the firm needs to keep a constant look out for employees and suppliers who may be committing fraud.b) internal...

Short-term forecasts are based on:

Short-term forecasts are based on:a) sales revenues and future tax policies.b) predictions of future performance of the firm's new products.c) capital...

One of the consequences of the recent financial crisis was ________.

One of the consequences of the recent financial crisis was ________.a) increased confidence in the financial services marketsb) more government scrutiny...

If your job is to compare actual expenses incurred by your company with financial projections previously created, you are performing the task of ________.

If your job is to compare actual expenses incurred by your company with financial projections previously created, you are performing the task of ________.a)...

Commercial finance companies accept more risk than banks, and the interest rates they charge are usually ________ than commercial banks.

Commercial finance companies accept more risk than banks, and the interest rates they charge are usually ________ than commercial banks.a) about the sameb)...

Rachael Straub works in finance for a small microbrewery. This week Rachael is working on a budget for the next 12 months. She has been doing research to determine prices for the new equipment they will need in the next 12 months to stay competitive in this market. Which of the steps in financial planning is Rachael involved in?

Rachael Straub works in finance for a small microbrewery. This week Rachael is working on a budget for the next 12 months. She has been doing research...

Idle Time Gaming, Inc., knows that its stockholders expect a return on their investment. The expected return that stockholders anticipate translates into the company's ________. Essentially, this is the amount that the investment funds are costing the firm.

Idle Time Gaming, Inc., knows that its stockholders expect a return on their investment. The expected return that stockholders anticipate translates into...

Accepting bank credit cards represents one way to decrease:

Accepting bank credit cards represents one way to decrease:a) equity financing.b) the expense of collecting accounts payable.c) capital expenditures.d)...

Issuing stock as a source of funding is referred to as ________.

Issuing stock as a source of funding is referred to as ________.a) short-term financingb) venture capitalc) equity financingd) bond tradingAnswer:...

Companies must have a carefully constructed inventory policy in order to:

Companies must have a carefully constructed inventory policy in order to:a) increase demand for their products.b) reduce the need for long-term funds.c)...

Marco's Italian Gardens, an authentic Italian restaurant in suburban Chicago, worked with a local bank for a ________. This unsecured source of funds was available for Marco to tap into if he needed immediate funds for the business. He liked the fact that he had a cushion and only used it if he fell short of funds.

Marco's Italian Gardens, an authentic Italian restaurant in suburban Chicago, worked with a local bank for a ________. This unsecured source of funds...

Which of the following is a major reason why businesses fail financially?

Which of the following is a major reason why businesses fail financially?a) Expense controls are too rigid.b) Poor use of marketing mix.c) Undercapitalization.d)...

Financial managers examine the financial data prepared by ________ and make recommendations to top executives about strategies for improving the financial strength of a firm.

Financial managers examine the financial data prepared by ________ and make recommendations to top executives about strategies for improving the financial...

The Credit Card Responsibility Accountability and Disclosure Act of 2009 did very little to protect ________ from increases in credit-card interest rates and fees.

The Credit Card Responsibility Accountability and Disclosure Act of 2009 did very little to protect ________ from increases in credit-card interest rates...

The financial manager for Bellandro Bay Brewery is working with the firm's marketing department to bring out a new line of pumpkin ale. The new product development and subsequent production will require a long-term investment of funds by the company. Which of the following sources of financing would be representative of such a long-term funding requirement?

The financial manager for Bellandro Bay Brewery is working with the firm's marketing department to bring out a new line of pumpkin ale. The new product...

Which of the following is a long-term debt obligation of a corporation or government?

Which of the following is a long-term debt obligation of a corporation or government?a) promissory noteb) stockc) bondd) equityAnswer:...

What is the major problem with selling on credit?

What is the major problem with selling on credit?a) A sizeable portion of a firm's assets could be tied up in accounts receivable.b) You can't legally...

Taxes represent ________.

Taxes represent ________.a) accounts receivable liabilityb) equity liabilityc) cash inflowd) cash outflowAnswer:...

The time value of money means that:

The time value of money means that:a) it is better to have money in your pocket now, than later.b) it is better to make big purchases now, rather than...

One advantage in using retained earnings as a long-term source of funds is ________.

One advantage in using retained earnings as a long-term source of funds is ________.a) there is no advantage because retained earnings are only used for...

Debt financing:

Debt financing:a) refers to funds raised through various forms of borrowing.b) refers to funds raised through selling ownership in the firm.c) requires...

Backstreet Books, Inc., an eclectic book and music store near a large college campus, is a reseller. The operation buys books almost every day. Deliveries are constantly part of the day-to-day operation of the firm. The transportation company that delivers to Backstreet Books provides this service on trade credit terms of 3/5, net 30. This means the firm ________.

Backstreet Books, Inc., an eclectic book and music store near a large college campus, is a reseller. The operation buys books almost every day. Deliveries...

Financial controls are designed to help managers to:

Financial controls are designed to help managers to:a) manage the day-to-day cash needs of a business.b) identify variances from the financial plan and...

Guillermo is currently in the process of projecting how much his firm will have to spend on supplies, travel, rent, advertising, and salaries for the coming financial year. Guillermo is working on the:

Guillermo is currently in the process of projecting how much his firm will have to spend on supplies, travel, rent, advertising, and salaries for the...

Jackie Jones is a finance manager for Pretty Poseys, a wholesale florist. As finance manager, which of the following would be one of Jackie's responsibilities?

Jackie Jones is a finance manager for Pretty Poseys, a wholesale florist. As finance manager, which of the following would be one of Jackie's responsibilities?a)...

Which of the following is true of the use of computers in accounting?

Which of the following is true of the use of computers in accounting?a) Computers can free up accountants to do important tasks, such as financial analysis...

Which of the following would be considered a current asset?

Which of the following would be considered a current asset?a) Accounts payableb) Copyrightsc) Buildingsd) Accounts receivableAnswer:...

If you were one of Beck's accountants and you were asked to evaluate if the firm has enough funds to pay its bills that are coming due in the next few months, how would you respond?

The following information is listed on Beck's Bicycles, Inc.'s balance sheet as of 12/30/2015.Assets LiabilitiesCurrent Assets Current LiabilitiesCash...

Celia's boss asked her to determine if their company is operating with too many borrowed funds. Which ratio will Celia utilize to help her with her decision?

Celia's boss asked her to determine if their company is operating with too many borrowed funds. Which ratio will Celia utilize to help her with her decision?a)...

Ledgers are used to compile information to complete which of the following?

Ledgers are used to compile information to complete which of the following?a) Departmental checks and balancesb) A gross margin balancec) A trial balanced)...

Which of the following describes an activity associated with accounting?

Which of the following describes an activity associated with accounting?a) Forecasting demand for a new product.b) Developing strategies for entering...

A Certified Public Accountant (CPA) is ___________ .

A Certified Public Accountant (CPA) is ___________ .a) basically the same as a certified management accountant, since both have passed a series of examsb)...

The accounting cycle is a six-step process that results in:

The accounting cycle is a six-step process that results in:a) the compilation of financial statements and their analysis.b) the independent audit.c) the...

Accumulated earnings from a firm's profitable operations that are kept in the business and not paid out to stockholders are called _____________.

Accumulated earnings from a firm's profitable operations that are kept in the business and not paid out to stockholders are called _____________.a) appreciated...

Darby's company reported net income after taxes of $2,000,000, on sales of $225 million. Her boss asked her to calculate the earnings per share for stockholders. Darby noted that the company's balance sheet showed 44 million shares outstanding. To explain to him that her calculation is correct, Darby's correct response is __________.

Darby's company reported net income after taxes of $2,000,000, on sales of $225 million. Her boss asked her to calculate the earnings per share for stockholders....

Which of the following is most helpful in analyzing the financial performance of a company?

Which of the following is most helpful in analyzing the financial performance of a company?a) The trial balanceb) Financial ratiosc) The customer base...

A debt to equity ratio of over 100% would mean:

A debt to equity ratio of over 100% would mean:a) the company has more debt than equity.b) the company is in too much debt, and should restructure.c)...

In order for information to be meaningful, a firm's accounting processes and procedures should be certified as accurate by acceptable accounting standards. Companies hire ________ to provide unbiased opinions about the accuracy of a firm's financial statements.

In order for information to be meaningful, a firm's accounting processes and procedures should be certified as accurate by acceptable accounting standards....

A specialized accounting book in which information is accumulated into specific categories and posted so managers can find all information about one account in the same place is a:

A specialized accounting book in which information is accumulated into specific categories and posted so managers can find all information about one account...

In a private company's accounting system, inputs are _______________ and outputs are _________.

In a private company's accounting system, inputs are _______________ and outputs are _________.a) transactions such as sales, payroll, and other expenses;...

If you were working as a bookkeeper, the first action you would take is to:

If you were working as a bookkeeper, the first action you would take is to:a) record transactions into a ledger.b) prepare an income statement.c) develop...

The fundamental accounting equation is ________.

The fundamental accounting equation is ________.a) assets = liabilities + owner's equityb) owners' earnings = assets - revenuesc) assets = liabilities...

Small businesses that are just getting off the ground often have problems with the difference between cash coming into the business and cash going out of the business. For example, if the company allows far too lenient credit sales terms, customers do not pay on time, which could cause cash to come in too slowly. That's why all businesses must keep a careful watch on their ________.

Small businesses that are just getting off the ground often have problems with the difference between cash coming into the business and cash going out...

__________ accounting is used to provide information and analysis to managers within the firm to assist them in decision making.

__________ accounting is used to provide information and analysis to managers within the firm to assist them in decision making.a) Financialb) Taxc) Accruald)...

Buying and selling goods, acquiring insurance and using supplies represent __________ transactions.

Buying and selling goods, acquiring insurance and using supplies represent __________ transactions.a) resource tradingb) managementc) financiald) marketingAnswer:...

The primary purpose of accounting is to:

The primary purpose of accounting is to:a) make sure a business is paying its taxes.b) allow for government tracking of business activities.c) help managers...

Which of the following assets would be considered to be the most liquid (able to convert easily to cash) assets?

Which of the following assets would be considered to be the most liquid (able to convert easily to cash) assets?a) Intangible assetsb) Current assetsc)...

If Beck's Bicycles, Inc.'s income statement shows gross profit of $350 million, with operating expenses of $120 million, and if Beck's tax rate is 30%, what is the firm's net income after taxes?

If Beck's Bicycles, Inc.'s income statement shows gross profit of $350 million, with operating expenses of $120 million, and if Beck's tax rate is 30%,...

This legislation created new government reporting standards for publicly traded companies.

This legislation created new government reporting standards for publicly traded companies.a) The Sarbanes-Oxley Actb) The Clayton Actc) The Robinson-Patman...

Jim Hopson is an accountant who works for a number of businesses as a consultant. He has helped to design an accounting system, provides accounting services, and has analyzed the financial strength of many of his clients. Jim is working as a:

Jim Hopson is an accountant who works for a number of businesses as a consultant. He has helped to design an accounting system, provides accounting services,...

How do consumers benefit from advertising?

How do consumers benefit from advertising?a) They pay less for the product because the different companies that are advertising similar products must...

A benefit of utilizing social media to deliver advertising messages is ____________.

A benefit of utilizing social media to deliver advertising messages is ____________.a) it can reach a much wider audience than other media due to the...

Viral marketing is:

Viral marketing is:a) an online form of notification of a potential computer virus or problem.b) a function that evaluates public attitudes and executes...

When Marmalade's Cupcake Closet is not jammed with happy customers, one or two of its sales associates stand out front and provide tastes of Marmalade's sumptuous goodies, in the form of miniature-sized treats. The company owners know that ________ is a very powerful form of promotion.

When Marmalade's Cupcake Closet is not jammed with happy customers, one or two of its sales associates stand out front and provide tastes of Marmalade's...

As an attorney who advocates for disabled children, Patty created a(n) ________ to provide expert opinion and other resources to a targeted group who needed her services.

As an attorney who advocates for disabled children, Patty created a(n) ________ to provide expert opinion and other resources to a targeted group who...

Promotion is one of the four Ps of marketing. The promotion mix is:

Promotion is one of the four Ps of marketing. The promotion mix is:a) any form of communication that uses electronic media.b) all the various paid media...

When Beck's Bicycles, Inc., volunteered to send its expert riders up mountainous terrain to rescue a lost dog that was unable to free himself from a cliff, it received accolades not only from other bicyclists, but from the general public as well. Beck's marketing director insisted that the company show a video of the search and rescue on its social media site and online advertising. The effort quickly turned into an important _____________ campaign for the firm.

When Beck's Bicycles, Inc., volunteered to send its expert riders up mountainous terrain to rescue a lost dog that was unable to free himself from a cliff,...

A fast-growing form of media for the delivery of advertising messages is __________. Some firms boast that they have several million followers on social media sources like Twitter and Facebook.

A fast-growing form of media for the delivery of advertising messages is __________. Some firms boast that they have several million followers on social...

It is the responsibility of the public relations department to:

It is the responsibility of the public relations department to:a) have a presence at trade shows and conventions.b) work with the sales staff to develop...

When Fountain of Youth Tea Company (FYT) wanted to secure shelf space in high-end grocery stores, it found that it had a lot of competition. In order to get the attention of retailers, FYT directed its promotion toward the consumer who desired a refreshing tea drink, as opposed to carbonated beverages. Due to a successful campaign, it compelled the grocers to feature it in the stores. FYT used a(n) _______ strategy to get their product in the grocery stores.

When Fountain of Youth Tea Company (FYT) wanted to secure shelf space in high-end grocery stores, it found that it had a lot of competition. In order...

When using various forms of promotion to carry the promotion message, it is important that the recipients of the message interpret it in the same way. Creating a unified promotional message, where potential customers perceive the same message, whether it is in a TV commercial, or on a billboard, or in a blog, is called ____________.

When using various forms of promotion to carry the promotion message, it is important that the recipients of the message interpret it in the same way....

Which of the following statements about personal selling is true today?

Which of the following statements about personal selling is true today?a) The objective of an initial sales call is to make a sale immediately.b) Salespeople...

What is the first step in the B2B personal selling process?

What is the first step in the B2B personal selling process?a) Prospect and qualifyb) Make presentationc) Approachd) Pre-approachAnswer:...

The first step in developing a typical promotion campaign is:

The first step in developing a typical promotion campaign is:a) identify a target market.b) develop a unifying message.c) define the objectives for each...

Which of the following is the first step in developing a good public relations program?

Which of the following is the first step in developing a good public relations program?a) Listen to the public.b) Hire well-known public figures who will...

________ is an unpaid form of promotion. It can have positive and negative effects on the recipient. For example, when you log onto CNN and read that four auto assembly-line plants are closing, it is not good news for our economy. However, on the same site, if you read about a company's water recycling effort targeted toward good stream management, you are usually impressed.

________ is an unpaid form of promotion. It can have positive and negative effects on the recipient. For example, when you log onto CNN and read that...

While doing an online search for a music venue, Darcy ran across a performance of Lady Gaga that featured her hair neatly wrapped in Coca-Cola cans. The venue did not visibly identify the sponsor in any other way. Marketers would categorize this form of advertising as _________________.

While doing an online search for a music venue, Darcy ran across a performance of Lady Gaga that featured her hair neatly wrapped in Coca-Cola cans. The...

Some products and services lend themselves to ______________ better than others. For example, youth in Southeast Asia, youth in Bosnia, youth in Alaska, and youth in Brazil may desire the same products, in the same form.

Some products and services lend themselves to ______________ better than others. For example, youth in Southeast Asia, youth in Bosnia, youth in Alaska,...

One of the best ways to reduce negative word of mouth is to:

One of the best ways to reduce negative word of mouth is to:a) run continuous positive advertising campaigns.b) mount an aggressive publicity campaign...

Personal selling, as a form promotion, differs when the effort is a B2B (business to business) sales effort rather than a B2C (business to consumer) sales effort. B2B personal selling requires ______________.

Personal selling, as a form promotion, differs when the effort is a B2B (business to business) sales effort rather than a B2C (business to consumer) sales...

Newer, nontraditional forms of promotion include:

Newer, nontraditional forms of promotion include:a) personal selling and advertising.b) social networking, blogging and podcasting.c) sales promotion...

When Mary Lynn went to the grocery store last week, she took with her several coupons she had received in the mail that week. While at the store, Mary Lynn was offered samples of several food items and she actually bought a few of those, using the in-store coupons. She also bought a particular brand of toothpaste, because the tube came with a free toothbrush. Mary Lynn is taking advantage of:

When Mary Lynn went to the grocery store last week, she took with her several coupons she had received in the mail that week. While at the store, Mary...

In personal selling, the relationship must continue for a long time, as the salesperson responds to new requests for information from current customers. This is an important part of the ______step in personal selling.

In personal selling, the relationship must continue for a long time, as the salesperson responds to new requests for information from current customers....

If the sender in a nonpersonal, paid promotion is identified, we define it as advertising. If the sender is not readily identified, we label it ____________.

If the sender in a nonpersonal, paid promotion is identified, we define it as advertising. If the sender is not readily identified, we label it ____________.a)...

Sun-2-Shade is a company that makes self-darkening windshields for cars and trucks. Which of the following would not be included as part of Sun-2-Shade's promotion mix?

Sun-2-Shade is a company that makes self-darkening windshields for cars and trucks. Which of the following would not be included as part of Sun-2-Shade's...

A survey company used a dollar value to measure the ___________ of Ben and Jerry's Ice Cream, as compared to some of its worthy competitors. Essentially, the survey firm evaluated Ben and Jerry's by measuring net value of several components that would comprise the brand's perception and image to ice cream customers.

A survey company used a dollar value to measure the ___________ of Ben and Jerry's Ice Cream, as compared to some of its worthy competitors. Essentially,...

Differentiating your product so that it will appeal to additional market segments occurs most often at which stage of the product life cycle?

Differentiating your product so that it will appeal to additional market segments occurs most often at which stage of the product life cycle?a) Growthb)...

Upscale retailers, such as Nordstrom, feature customer service as their significant point of difference and use that difference to compete with less expensive stores. This is known as ___________ competition.

Upscale retailers, such as Nordstrom, feature customer service as their significant point of difference and use that difference to compete with less expensive...

Fountain of Youth Tea Company changed their glass bottles to streamlined thermos-like, blue sports bottles that fit nicely on bicycles and in car holders. A packaging innovation such as this could actually be perceived by the buyer as a _____________.

Fountain of Youth Tea Company changed their glass bottles to streamlined thermos-like, blue sports bottles that fit nicely on bicycles and in car holders....

Soho Bottling was started in a kitchen in Brooklyn, New York, and makes soft drinks. After going through the various steps in the new-product development process, when the company finally entered the commercialization stage of the new product development process, they knew to succeed they would have to:

Soho Bottling was started in a kitchen in Brooklyn, New York, and makes soft drinks. After going through the various steps in the new-product development...

If fixed costs are $100,000, variable cost per unit is $40, and the selling price is $60, how many units must be sold for the firm to break even?

If fixed costs are $100,000, variable cost per unit is $40, and the selling price is $60, how many units must be sold for the firm to break even?a) 5,000b)...

The importance of the product life cycle is that:

The importance of the product life cycle is that:a) all products go through the product life cycle in the same length of time.b) in the growth stage,...

The process of taking a product idea to consumers to test their reactions is known as:

The process of taking a product idea to consumers to test their reactions is known as:a) product screening.b) concept testing.c) business analysis.d)...

Rollerblade is working to make sure that when people refer to inline skating, they don't use the name Rollerblade to refer to the sport. Rollerblade is afraid that their brand name will become a:

Rollerblade is working to make sure that when people refer to inline skating, they don't use the name Rollerblade to refer to the sport. Rollerblade is...

Which of the following would be considered a convenience good?

Which of the following would be considered a convenience good?a) A microwave ovenb) An evening gownc) An automobile batteryd) A candy barAnswer:...

The purpose of the product life cycle is it serves as a(n) __________.

The purpose of the product life cycle is it serves as a(n) __________.a) tool for measuring the forces of competition and the companies' break-even pointb)...

Old Navy jeans are sold exclusively at Old Navy stores. This is an example of a(n) _________ brand.

Old Navy jeans are sold exclusively at Old Navy stores. This is an example of a(n) _________ brand.a) generic brandb) custom coded brandc) private-label...

When Nintendo reentered the video game market with the Wii, they priced the product lower than the newest Sony Playstation system in order to capture a large share of the market quickly. This strategy is called a:

When Nintendo reentered the video game market with the Wii, they priced the product lower than the newest Sony Playstation system in order to capture...

Sony and other makers of high-definition television sets have made the prices of these products more competitive, have increased the number and kinds of stores in which they are available, have offered a variety of choices, and are advertising extensively. These products appear to be in the ___________stage of the product life cycle.

Sony and other makers of high-definition television sets have made the prices of these products more competitive, have increased the number and kinds...

Idea generation represents the first stage of _______________.

Idea generation represents the first stage of _______________.a) pricing analysisb) commercializationc) new-product developmentd) government screeningAnswer:...

Products that the consumer buys only after comparing value, quality, price, and style from a variety of sellers are known as ____________ goods and services.

Products that the consumer buys only after comparing value, quality, price, and style from a variety of sellers are known as ____________ goods and services.a)...

Products that the consumer purchases like insurance, burial services, or emergency car-towing are known as ___________ goods and services because they are not products that consumers regularly evaluate and consider purchasing.

Products that the consumer purchases like insurance, burial services, or emergency car-towing are known as ___________ goods and services because they...

Most new-product ideas come from:

Most new-product ideas come from:a) employees.b) suppliers.c) research and development.d) competitors.Answer:...

Priceline and Expedia are two online travel companies. Both are known to utilize ___________ of services such as airline flights and hotel stays to entice customers to purchase both at the same time, for a more reasonable price than what they would pay separately for each of these services.

Priceline and Expedia are two online travel companies. Both are known to utilize ___________ of services such as airline flights and hotel stays to entice...

When Panasonic considers how to price a new product, they determine what price they think their customers will pay, and then identify what profit the company needs. From there they determine the features they can offer on this product. This method of determining price is known as:

When Panasonic considers how to price a new product, they determine what price they think their customers will pay, and then identify what profit the...

New packaging technology that allows companies to track products through radio frequency identification is referred to as ____________.

New packaging technology that allows companies to track products through radio frequency identification is referred to as ____________.a) FOIDb) FDIRc)...

A legally protected brand is a _______________.

A legally protected brand is a _______________.a) trademarkb) mark to marketc) brand patentd) brand equityAnswer:...

Volvo is a well-known quality manufacturer of cars, trucks, and SUVs. Volvo dealers also provide financing to their customers. These products and services are part of Volvo's product _____________.

Volvo is a well-known quality manufacturer of cars, trucks, and SUVs. Volvo dealers also provide financing to their customers. These products and services...

Schnucks Supermarket promotes products like milk, eggs and other daily essentials at very low prices in order to attract consumers into their stores. This type of pricing strategy would be an example of using pricing to:

Schnucks Supermarket promotes products like milk, eggs and other daily essentials at very low prices in order to attract consumers into their stores....

One of the ways that restaurants often adapt their product offerings to address changes in competition is to ____________.

One of the ways that restaurants often adapt their product offerings to address changes in competition is to ____________.a) change the organization design...