buisness essentials
Which form of technology creates tangible prototypes and products?
3D printing
Which of the following financial reports provides estimates of when, where, and how much money will come into and out of a business next year:
cash flow statement
What type of accounting method would most likely be used by a small business owner who does not offer credit?
cash method
The overall purpose of accounting is to
control the finances of the business
Marketing links producers to
customers
Which of the following influences the process of determining price:
customers perception of value
The operations function consists mainly of activities that are performed on a __________ basis.
daily
Without marketing, producers and customers would be
disconnected from eachother
Which of the following is an example of one of a business's inputs:
employees
Selling shares in the company to raise money for a new venture is referred to as ___________ funding.
equity
n operations manager must determine the sequence materials will take through the production process. This activity is known as
routing
The process of keeping the financial records of a business is known as
accounting
Money the business owes is known as
accounts payable
Money owed to the business is known as
accounts receivable
What type of accounting method would most likely be used by a large business that has a large number of outstanding loans and customer charge accounts?
accural method
For an accounting system to be useful to the business, the accounting information it contains must be
accurate and up to date
Operations managers must work closely with managers and employees in
all other parts of the business
Which of the following presents the first three steps in the accounting cycle in the correct order:
analyze, journalize, and post
A creditor is most likely to examine a business's financial accounting records if the business is
applying for a bank loan
The cash conversion cycle should be
as short as possible
Which of the following categories of information are found on a balance sheet:
assets, liability, owners equity
The purpose of communicating with customers is to
attract customers interest
In the marketing concept, whose point of view matters most?
buyers
Marketing is described as creating
exchanges
When return on capital is positive, the company is
growing value
The money it takes to keep inventory in stock is called a __________ cost
holding
Which of the following items cannot be marketed:
hopefulness
What accounting record would summarize a business's profit or loss for a previous year?
income statement
The finance function ensures that the company's financial goals are
inline with organizational priorities
The administration of assets refers to decisions about
investments
overall, what does marketing allow us to do?
live our daily lives
Running out of inventory can result in
lost sales
Which of the following is not a main factor in a business's site selection decision:
media
Finance is the business function that involves managing
money
The finance function would definitely be involved in a decision regarding
new business projects and strategies
What provides the basis for all marketing goals and actions?
planning
Operations activities vary depending on a business's
product
The foundation of the operations function is
production planning
The goals of the finance function are to ensure profitability and
reduce risks
Marketing encourages people from different countries to __________ frequently
trade