BUSA Final Exam Study Questions

________produces economic documents to aid investors and creditors

financial accounting

which of the following uses information from a firms overall corporate strategic plan financial statements and external financial environment to identify the amounts and types of capital the company will need in the short term and long term?

financial plan

__________includes determining if a company's financial assets are working efficiently evaluating what kind of financing strategy is best or choosing a way to obtain needed funds

corporate accounting

________utility is when a company produces a product from raw materials and the product takes on a form that is useful to the customer

form

the first step in the new product development process is________

idea generation

which of the following involves borrowing to finance an investment with the anticipation that the profits from it will be far greater than the interest needed to pay on the money?

leverage

which of the following offers information and analyses to managers within an organization in order for them to make informed business decisions?

managerial accounting

A________ includes operating costs for an entire organization including inventory sales purchases manufacturing marketing and operating expenses

master budget

_________has contributed to the decline in US manufacturing and the increase in unemployment

offshoring

to remain competitive in the global economy US manufacturers should improve their_______so that they become more customer focused quality driven economically efficient and technology savvy

operations and production processes

what process can be used to extend a product's life?

creating a new vision

which term describes the process of establishing long term relationships with individual customers to foster loyalty and repeat business?

customer relationship management

________utility exists when the product is made available for purchase at a place that's convenient for buyers

place

which of the following involves a company borrowing money that is legally obligated to repay with interest by a specified time?

debt financing

which of the following is the term for funds that can be withdrawn at any time and do not require prior notice?

demand deposits

______is the third step in the new product development process and it involves determining the demand for a product and it's financial feasibility

product analysis

the process of getting goods and services to customers through a series of related activities is known as________

production

the nature of marketing has evolved over five eras. which era took place during the industrial revolution and used an approach that a good quality product would sell itself?

production era

all businesses whether they produce strictly manufactured products strictly services or a combination of both utilitize_________

production processes

A__________ is prepared to identify the costs needed to accomplish an endeavor that has specific start and end dates

project budget

__________is the process of selling accounts receivable for cash instead of using them as collateral for a loan

factoring

which of the following includes investment instruments such as bonds or stocks?

securities

what type of financing is repaid within a year or less?

short term financing

a theoretical model describing a products sales and profits over the course of its lifetime is known as________

the product life cycle

which term describes the ability of a firm to purchase goods and services from a supplier in credit without paying interest?

trade credit

what do you call investments in a company by a group of outside investors who take active roles in management decisions regarding the company?

venture capital

what is the name for the activity set of institutions and processes for creating communicating delivering and exchanging offerings that have value for customers clients partners and society at large?

Marketing

__________includes reviewing and evaluating the accuracy of financial reports

auditing

which of the following includes reviewing and evaluating the accuracy of financial reports

auditing

A_________ outlines the financial needs for purchases such as real estate manufacturing equipment plant expansions and technology as a part of a company's long term plans

capital budget

A___________ is an estimate of a company's short term cash inflows and outflows

cash flow budget

which of the following includes any form of security that assures a lender that the borrower has additional ways of repaying a loan?

collateral

which term refers to unsecured short term debt that matured in nine months or less and does not need to be registered with the SEC?

commercial paper