Aviation Management Midterm Review
Break-Even Analysis is one of the best tools for ensuring that a company has a continuous cash flow at any time during a financial period
False
Over time, the simulation of business scenarios has proven to not be effective to help the manager make effective decisions
False
The National Transportation Safety Board (NTSB) is the primary regulatory and safety agency for the aviation industry
False
The income statement depicts the financial status of a business by showing both the operating account and the capital account
False
When it comes to marketing, as long as a business has a solid plan and strategy there is no need to be marketing oriented
False
Which of the following would not be useful in analyzing the business activities of a department?
File Control
Which of the following is not considered as one of the phases of the financial process for a business organization
Forecasting
Which of the following is not one of the main components of the aviation industry in the US?
International Civil Aviation Organization
________ entry is the first accounting record of transactions that occur inside the business. It serves as a 'financial diary' in the business accounting systems
Journal
Which of the following would be a good approach to market the convenient goods to your consumers?
Mass Promotion
Which agency of the federal government is responsible to monitor the incidents and accidents that occur in the aviation industry?
National Transportation Safety Board
When it comes to directing and controlling, which one of these traits tends to be a problem for most managers?
Poor Delegation
When writing a business plan, the first thing to think about and write down would be your:
Product or Service
Which of the following would not be classified as a variable expense for a business?
Rent for the Aircraft Hangar
Jaguar Aviation, a FBO company operating in the Amazon forest in Brazil, plans to engage in the community activities by donating $200,000 towards the building of a village hospital. To achieve that, the company is setting aside a portion of the profit obtained during the financial year 2019-2020 to donate towards the cause. What profit objective would be the best for the organization?
Social Responsibility
Which of the following is not one of the four functions of management described in your textbook?
Time Management
A Business with a good forecasting regression model will have to continue reviewing the model over time as the relationships among the variables may change
True
Aircraft operators are still expressing the need for cost-effective aircraft
True
As a manager you can have as many business plans for your product lines and/or services that you of plan to offer
True
Cash Flow tendency has been shifting towards the credit market/economy compared to previous years where most business operated with real cash
True
Depending on the nature of the company, the manager might decide to reserve some roles and not delegate those to the other staff
True
During the budgeting processes, the business will have to prepare both Capital and Annual Operational Budgets
True
General Aviation can serve as means of transport and also means of accomplishing an activity while in the air
True
One of applications of a Management Information Systems in a company is the ability to track the financial and marketing performance
True
One of the challenges facing the generation aviation sector is the retaining of pilots as most of them continue up the rank into more sophisticated areas of aviation
True
Planning in Management is very crucial because is at this stage when the manager gets to develop the business plan
True
Sampling techniques have proven to be effective in aviation to help the managers obtain customers' opinion regarding the products and services
True
Setting up profit centers within the business means that each revenue-generating area of the business will be treated as its own mini-business
True
Sport Pilot Certificate Program is one of the events that have encouraged more pilots to obtain their pilot certificates and be engaged with general aviation
True
The balance sheet is mainly made up of three main sections which are Assets, Liabilities, and Stockholders' Equity
True
Which of the following indicator is used by the investors to determine whether or not the company is efficient in collecting its debts from the customers?
Accounts Receivable Turnover
Which of the following is not one of the sources of aviation forecasting data
Aerospace Industrial Forecast Magazine
Public airports that are categorized as 'essential' are funded through what program of the Federal government?
Airport Improvement Program
Which of the following should we use when we are trying to price a product based on the amount of money we spent producing it?
Cost-Based
Which of the following is not necessarily a specific data requirement to consider while establishing a data system for the business?
Data Manipulation
Which of the following would not qualify as an external source of finance for an organization?
Deferred Taxes
Which one of these is not included in the FAA's definition of FBOs services?
Ground Transportation