BMAN FINAL
the three countries participating in NAFTA are
Canada, Mexico, and the United States
what does double taxation mean
Companies must pay taxes on their earnings, and then stockholders pay taxes on their dividends.
which of the following represents the largest floor based stock exchange in the world
NYSE Euronext
When starting a corporation, people submit articles of incorporation to
a secretary of state
delaware aluminum uses its stock of unsold aluminum products as collateral for a short term loan. this arrangment represents
a secured loan
the balance sheet is composed of the following types of accounts
assets, liabilities, and owners' equity
The top governing body of a corporation is known as the
board of directors
the number of units that must be sold for the total revenue to equal the total cost is called the _________ quantity.
breakeven
a detailed written document that describes the nature of the business, the target market, the firm's competitive advantages, as well as the owner's resources and qualifications is a
business plan
the line of authority that moves from the top of a hierarchy to the lowest level is called the
chain of command
the most important impact of the Hawthorne studies was that it
changed the direction of research away from Taylor's scientific management toward the study of human-based management
_____ represents the most basic form of company ownership and includes voting rights and dividends, if and when the firm elects to pay dividends
common stock
by definition, every country has a _______ advantage in some product
comparative
_____ is the management function that involves determining whether an organization is progressing towards its goals, rewarding employees for doing a good job, and taking corrective action when they are not
controlling
Location is very important in the marketing of ________ because consumers desire to purchase these goods with a minimum of shopping effort.
convenience goods
Zorn Enterprises, a successful property management firm in Pennsylvania donates all reusable and recyclable goods left by past tenants...
corporate social responsibility
Greenwave Garden Centers is a national chain of discount gardening stores. The top management...
decentralized
the assignment of part of a manager's work and authority to a worker is called
delegation
Lois walked into ABC Company to pick up an application for a secretarial job. When she asked about the duties and working conditions, the busy receptionist handed her a document that gave her a clear picture of the position. The receptionist gave Lois a job
description
often in business the greater the risk, the
greater the potential reward
a merger between two firms that make and sell similar products in similar markets is known as a
horizontal merger
Purchasing products or materials in other nations and bringing them into one's own country is
importing
a firm's ____ reports the profit or loss for the firm over a specified time period
income statement
the executive summary section of the business plan contains
information that will capture the attention of bankers and other investors who receive many business plans everyday
in which order do the stages of the product life cycle occur
introduction, growth, maturity, decline
what is the significance of the name "preferred stock"
its claims on dividends are paid before those of common stock
_________ is the process of establishing and maintaining contacts...
networking
Usually, the human resources department administers a(n) ____ program to introduce new employees to the organization.
orientation
The customers, employees, stockholders, suppliers, creditors, and others who stand to gain or lose by the policies and activities of a business represent the firm's:
stakeholders
what are the two types of costs associated with inventory
stock-out costs and holding costs
generally speaking, a narrow span of management implies that the height of the organization will be _____; a wide span of management implies that the height of the organization will be_____
tall; flat
a market segment toward which a company directs its marketing effort is called a
target market
Tom stormed into the office, exclaiming, "That's the last straw! I've experienced unethical behavior at this company one time too many. I'll be calling the press immediately." It appears that Tom is about to engage in
whistle-blowing
___________ are the firm's after tax profits that are distributed to stockholders.
dividends
which of the following is not a disadvantage of sole proprietorship
double taxation
Due to a recession in the United States and abroad, ski resorts have suffered from a lack of guests during the peak season. These ski resorts have felt a direct impact from ____ forces.
economic
which of the following statements is the best description of how scientific management viewed employees
employees are like machines that must be programmed to perform in a certain way
_____ means giving employees the authority and responsibility to respond quickly to customer requests
empowerment
the resources that contribute to the creation of wealth are known as
factors of production
planning, organizing, leading/motivating, and controlling make up the
four basic functions in the management process
______ involves creating a vision for others to follow, establishing corportate values and ethics, and transforming the way an organization does business so that it is more effective
leadership
the fundamental accounting equation is: assets=
liabilities+owner's equity
_____ is a contractual agreement where one firm gives another permission to produce and market its product and brand name in exchange for a fee
licensing
_____ refers to how quickly an asset can be converted into cash
liquidity
Borrowed money that will be used for more than one year is called
long-term financing
an economic system in which individuals and businesses make the decisions about what to produce and what to buy, and the market determines how much is sold and at what prices, is called a ______ economy
market
the hierarchy of human needs was developed by
maslow
the idea that satisfaction and dissatisfaction are distinct dimensions is referred to as
motivation-hygiene theory
the arizona jean co brand of jeans, owned by jc penny is a _____ brand
private
Borden, Inc. makes pasta, dairy items, and adhesives. These different types of products are referred to as Borden's:
product mix
the elements of the marketing mix are
product, price, distribution, promotion
fern motors is offering a rebate on cars purchased this month. this activity involves the ______ ingredient of the marketing mix
promotion
economists define a _____ as two consecutive three-month periods of decline in a country's gross domestic product
recession
Important provisions of the Sarbanes-Oxley Act:
require the CEO and CFO of corporations to certify the accuracy of financial reports.
the us economy is now characterized as a ________ economy
service
in the control process the first step is to
set clear and appropriate standards
which of the following government agencies is responsible for encouraging the development of small business
small business administration
Unlimited liability means
the owner is responsible for all business debts
if the demand for a product declines, what happens to the price of the product?
the price decreases
when demand exceeds capacity, all of the following are reasonable options for the firm except
turning away some long-time customers
All employers are required by law to provide certain benefits to their employees. An example of such a benefit would be
unemployment insurance
what is the primary disadvantage of both a sole proprietorship and a partnership that a corporation overcomes
unlimited liability
the board of governors of the federal reserve system determines
us monetary policy
all of the following are sources of external recruiting except
using recommendations of present employees