Business Essentials 4.00-5.00
which of the following is a true statement
Bookkeeping records business transactions.
How does appropriate information management affect a business's relationship with its customers?
Businesses serve customers more effectively.
Computers direct robots and other machines to do specific tasks in a technology known as
Computer Aided Manufacturing
which of the following influences the process of determining price
Customers' perception of value
which of the following is a method of technological information gathering that buisnesss can use to enchance costumer relations
a costumer registers on a company website
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 costumer charge accounts?
accrual method
For an accounting system to be useful to the business, the accounting information it contains must be
accurate and up to date
decision about financing refers to the
acquisition of funds
operations managers must work closely with managers and employees in
all other parts of the business.
A clothing manufacturer builds quality into its operating system, placing responsibility on each employee. This process is known as quality ______
assurance
The purpose of communicating with customers is to
attract customers' interest
Appropriate information management helps a business build a good reputation
being consistent
the finance function is usually responsible for which of the following processes
budgeting
what type of accounting method would most likely be used by a small business owner who does not offer credit?
cash method
of the following, which is a durable good
coffee mug
which of the following is a market activity
communicating with customers
which of the following is the most common reason for businesses to search for ways t make their products better and cheaper?
competition
the overall purpose of accounting is to
control the finances of the business
Marketing links producers to
customers
the operations function consists mainly of activities that are performed on a ________ basis
daily
which of the following actions is part of information management
disseminating information
operation managers have two main goals in mind — efficiency (keeping costs low) and
effectiveness (keeping costumers satisfied)
when a business uses computer technology to manage its money and movie it among different accounts, it is taking advantage of
electronic transfer of funds
which of the following is an example of one of a businesses inputs?
employees
who is responsible for information management
everyone in the organization
a medical professional enters a patients symptoms into a computer program designed to help diagnose illnesses. the program is known as
expert system
which of the following is a benefit that a business receive from using the internet
faster connecting with suppliers
a computers internal processor is part of its
hardware
The money it takes to keep inventory in stock is called __________ cost.
holding
managing information regarding copyrights and trademarks helps a company preserve its
identity
A risk involved with information management is leaving customers unprotected from
identity theft
which of the following groups makes a regular use of businesses managerial accounting information
managers
information management can be a challenge because
many people do not understand what it is.
which of the following is not a main factor in a businesses 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
Accounting is distinct from finance because its main focus is on
record-keeping activities
A benefit of informed decisions is that they
reduce a business's risk
the goals of the finance function are the ensure profitability
reduce risks
which of the following is the measure of how well a business generates cash flow
return on capital
complying with environmental laws is part of which operation activity?
safety and security
technology is a practical application of which of the following studies to society and industry
science
which of the following is a true statement about information
It is data put into a useful form
which of the following is a true statement about a management information system (MIS)
It may be one part of a business's overall information management program.
Checks, receipts, invoices, and purchase orders are examples of
source documents
which of the following is an example of communicating with costumers
sponsoring a charity event
which is the biggest impact of technology on the computer industry
technology created the computer industry
According to the marketing concept, which option shows company commitment?
Setting aside funds to research what customers want
Phil works from his home office on Tuesdays and Thursdays. This is known as
telecommuting
accounting records for a business show that the weeks total sales revenues were $125,000. cash sales accounted $50,000 and credit sales, $75,000. this is an example of
the accrual method of accounting
Marketing encourages people from different countries to __________ frequently.
trade
which of the following is not considered a technological innovation
weather
a company's current balance of assets and liabilities falls under the focus of
working capital management
Why are accurate accounting records important to a business?
They show the business how it is doing
a clothing manufacturer checks one pair or pants out of every shipment to ensure the quality of its product. this process is known as quality __________
inspection
the difference between service providers and manufactures operations activities is that service provides produce ____________ outputs
intangible
