Quiz #4 (Ch. 10-15)

_____ deals with reporting to outsiders. _____ accounting deals with the internal operations of the firm. Bookkeeping; Financial accounting Financial accounting; Auditing Auditing; Managerial accounting External accounting; Internal accounting Financial accounting; Managerial accounting

Financial accounting; Managerial accounting

Crown Holdings Inc. manufactures a high-resolution, full color digital inkjet printed cans that allows smaller beverage producers to label the cans as they are needed to be filled rather than keeping a stock of preprinted cans. This is an example of how a beverage company could use: lean production control controlled production Just-in-time materials requirement controls Sigma Six

Just-in-time

_____ management focuses on gathering and sharing an organization's collective knowledge to improve productivity and foster innovation. Knowledge Entrepreneurial Creative Information Productivity

Knowledge

_____ is the process of separating, identifying, and evaluating the layers of a market to design a marketing mix. Market segmentation Market layering Benefit marketing Marketing strategy Marketing division

Market segmentation

_____ is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. Sales Marketing Exchange Production Advertising

Marketing

The ability to manufacture many goods at once is called _____ production. General Mass Centralized Open Aggregated

Mass

A group of two or more computer systems linked together by communications channels to share data and information is called a computer: Database Network Mainframe Combination Conglomerate

Network

_____ is the management of the production conversion process for both goods and services. Total quality control Manufacturing Operations management Specialization Functional management

Operations management

_____ is the process that converts inputs into outputs that can be sold as goods and Marketing Production Mechanization Specialization Operations

Production

A local area network (LAN) connects computers at one site and enables their users to exchange data and share hardware and software from a variety of computer manufacturers. True, False

True

In the product development process, most companies utilize the concepts of brainstorming, screening, and test marketing. True, False

True

Production converts inputs into outputs by changing the inputs in some way. True, False

True

The Sarbanes-Oxley Act redefines the public corporation-auditor relationship and restricts the types of services auditors can provide to clients. True, False

True

_____ are distribution channel members that buy finished products from manufacturers and sell them to retailers. Manufacturers Wholesalers Service providers Market managers Product managers

Wholesalers

A(n) _____ is a yearly document that describes a firm's financial status and usually discusses a firm's financial activities during the past year and its prospects for the future. trial balance firm summary annual report earnings report financial analysis

annual report

Operations managers: control about three-fourths of firm's assets work closely with people in marketing, finance, accounting, and human resources departments help to decide which products the company should produce face the challenge of combining people and other resources to produce high-quality products are accurately described by all of the above

are accurately described by all of the above

The _____ summarizes an organization's financial status at the end of an accounting period. trial balance income statement cash flow statement balance sheet accounts payable ledger

balance sheet

An accountant who has a bachelor's degree, passes a test prepared by the professional organization AICPA, and has a certain number of years of on-the-job training becomes a: certified public accountant certified private accountant professional accountant financial analyst certified tax specialist

certified public accountant

Which of the following is NOT a popular form of sales promotion? Coupons Samples Premiums Advertising Contests

Advertising

_____ occurs when no money is involved in the exchange of goods or services. Image pricing Negotiated pricing Gray marketing Bartering Black marketing

Bartering

Cerner Corporation has created a(n) _____ containing the medical records of more than 400,000 people who received treatment at more than 200 different emergency rooms. It can be used to help emergency room physicians make decisions about what kind of treatment to give their patients. customer relational network Database Spreadsheet information processing network transactional network

Database

_____ is the company's ability to expense fixed assets over their useful life. Amortization Acceleration Depreciation Capital budgeting Maturation

Depreciation

Customer satisfaction: is the same as customer value can occur even if the product does not meet customer expectations is most likely to be achieved by companies that have a production orientation refers to the customer's feeling that a product has met or exceeded expectations is accurately described by all of the above

refers to the customer's feeling that a product has met or exceeded expectations

The _____ is a specific group of consumers toward which a firm directs its marketing efforts. population sample package market demand group target market utility group

target market

Total quality management focuses on: creating buyer/supplier dependence computer-aided design continuous improvement creating transactional relationships stakeholder harmony

continuous improvement

The _____ is a series of marketing entities through which goods and services pass on their way from producers to end-users industrial channel distribution channel consumption channel inventory control process vertical integration process

distribution channel

Another term for owners' equity is: Assets Liabilities net worth gross worth gross sales

net worth

The blend of the marketer's tools is called the five Ps. Which of the following is NOT one of the five Ps? product strategy pricing strategy place strategy possession strategy promotion strategy

possession strategy

Accountants employed within organizations are called: public accountants public auditors private auditors private accountants tax consultants

private accountants

In _____, goods are produced using mass production techniques up to a point. Then production is custom tailored to the needs or desires of individual customers. just-in-time production mass customization individualized production niche manufacturing Production-to-order

mass customization