Intro to Business Exam 1

The _____ reports the financial position of a firm by identifying and reporting the value of the firm's assets, liabilities, and owners' equity. A. statement of cash flows B. profit and loss statement C. statement of retained earnings D. balance sheet.

balance sheet

In face-to-face communication, the verbal content of a message conveys much more meaning to the listener than the tone of voice and body language. True False

false

Dividing the market into smaller groups based on where consumers live is known as _____. A. geographic segmentation B. attitude segmentation C. behavioral segmentation D. industrial segmentation

geographic segmentation

Companies employ _____ when they actively promote the ecological benefits of their products. A. environmental scanning B. social marketing C. green marketing D. mass customization

green marketing

The _____ is a financial statement that reports the revenues, expenses, and net income or loss that resulted from a firm's operations over an accounting period. A. income statement B. cash budget C. statement of cash flows D. balance sheet

income statement

The percentage of a market controlled by a given marketer is known as _____. A. market trend B. market capitalization C. market share D. market value

market share

The blend of marketing strategies for product, price, distribution, and promotion is known as the _____. A. marketing mission B. marketing mix C. marketing plan D. marketing matrix

marketing mix

In the context of active listening, one of the dos for better listening is the use of _____. A. indirect feedback B. nonverbal communication C. in-person presentation D. dynamic delivery

nonverbal communication

In the context of business communication, one should: A. create accountability by using passive voice. B. use words such as "his" and "him" when one does not know the gender of the addressee. C. not use active voice to emphasize key points. D. not use slang in either written or verbal communication.

not use slang in either written or verbal communication.

Paris Hilton declaring, "I am a marketing genius" is an example of _____. A. event marketing B. place marketing C. people marketing D. idea marketing

people marketing

Which of the following communication channels should ideally be used when the content is uncontroversial and a quick response regarding relatively simple issues is required? A. Face-to-face meeting B. Videoconferencing C. Telephone conversation D. Texting

Texting

Your target market is the group of people who are most likely to buy your product. True False

True

_____ is a system for identifying, measuring, and communicating reporting economic information about the financial transactions that affect an organization. A. Accounting B. Budgeting C. Banking D. Financing

Accounting

Which of the following is the accounting equation? A. Net Income = Revenue + Expenses B. Assets = Liabilities + Owners' Equity C. Assets = Liabilities - Owners' Equity D. Net Income = Revenue - Expenses

Assets = Liabilities + Owners' Equity

_____ is a management tool that explicitly shows how a firm will acquire and use the resources needed to achieve its goals over a specific time period. A. Investing B. Budgeting C. Trading D. Auditing

Budgeting

Which of the following practices is recommended for an effective business presentation? A. Introducing key ideas toward the end of the body of the presentation B. Citing trusted sources, specific data, and expert quotations C. Avoiding specific examples and vivid comparisons D. Avoiding graphs and charts in the presentation

Citing trusted sources, specific data, and expert quotations

_____ is the ongoing process of acquiring, maintaining, and growing profitable customer associations by delivering unmatched value. A. Customer relationship management B. Customer-based segmentation C. Customer centricity D. Cognitive dissonance

Customer relationship management

Nelson, the CEO of a company, holds a meeting with the board of directors that includes both male and female members. While addressing them, Nelson is careful to use phrases such as "Welcome board members" and "Dear stockholders" instead of solely using "he" or "she." In this scenario, which of the following biases is Nelson avoiding? A. Age bias B. Gender bias C. Race bias D. Ethnicity bias

Gender bias

Which of the following statements is true of primary data? A. It is customized to meet a marketer's needs. B. It tends to be lower in cost than secondary data. C. It is available to all the competitors of a marketer. D. It is frequently outdated.

It is customized to meet a marketer's needs.

_____ is a form of communication that does not involve the use words. A. Dynamic delivery B. Intercultural communication C. Active listening D. Nonverbal communication

Nonverbal communication

_____ refers to dividing the market based on consumer attitudes, interests, values, and lifestyles. A. Geographic segmentation B. Psychographic segmentation C. Behavioral segmentation D. Demographic segmentation

Psychographic segmentation

______________ is the financial statement that identifies a firm's sources and uses of cash in a given accounting period. A. Statement of Cash Flows B. Net Income C. Balance Sheet D. Income Statement

Statement of Cash Flows

A business email should have a compelling subject line. True False

True

A marketing plan is a formal document that defines marketing objectives and the specific strategies for achieving those objectives. True False

True

The net income of a company is calculated by subtracting expenses from revenue. true false

True

Which of the following statements is true of business messages? A. The use of active voice in a message creates deeper trust between the sender and the receiver. B. The level of education and profession of the receiver is irrelevant when writing a message. C. A message needs to be long and detailed so that the receiver understands it. D. A message is enriched by the use of jargon, slang, and abbreviations.

The use of active voice in a message creates deeper trust between the sender and the receiver.

In the context of the various communication channels, voice mail: a. is used when a sender does not need a record of his or her message. b. requires an immediate response alongside a spontaneous dialogue. c. exhibits a very high channel richness and transmits ample nonverbal cues. d. is the best channel to convey messages with controversial content. Hide Feedback

a. is used when a sender does not need a record of his or her message.

Generally accepted accounting principles (GAAP) is a set of accounting standards that is used in the: A. preparation of a company's tax return B. audit of a company's financial books C. preparation of organizational budgets D. preparation of financial statements

preparation of financial statements

Managerial accounting: A. is the branch of accounting that adheres the most strictly to the generally accepted accounting principles. B. provides managers information about a firm's financial situation on a predetermined schedule. C. provides reports and analysis to managers to help them make informed business decisions. D. provides reports and analysis to external stakeholders to show them the current business state.

provides reports and analysis to managers to help them make informed business decisions.

Assets refer exclusively to: A. the cash payable by a firm. B. the resources owned by a firm. C. the taxes to be paid by a firm. D. the wages payable by a firm to its employees.

the resources owned by a firm.

To strike the right tone while writing a business message, it is suggested that an individual: A. avoids contractions such as "I'll" or "don't" as they are informal. B. uses the active voice to facilitate concise communication. C. avoids the usage of common words to explain a situation. D. uses technical jargon to convey excellent technical knowledge.

uses the active voice to facilitate concise communication.