Exam Ch. 11-14
After all expenses have been subtracted from revenues on an income statement, the final figure or bottom line is called the _____ when it is a positive number.
net profit
A computer program that copies itself into other software and can spread to other computer systems is called:
a computer virus
Ennis Worth has a six-month loan for $7,500 that he used to refurbish the fishing boat he uses to earn his living. This loan is an example of:
a current liability
Which of the following statements about knowledge management is true?
None of the above statements about knowledge management is true.
Virtual private networks (VPNs):
connect two or more private networks using a public network
_____ are debts that are to be paid within twelve months.
current liabilities
The acceptable turnover ratio is:
different for each industry
_____ is the efficient management of the acquisition of raw materials to the factory and the movement of products from the producer to industrial users and consumers.
distribution
Companies are adopting enterprise portals because the portals:
do all of the above, (improve communications with customers, suppliers, dealers, and distributors. provide cost savings through the elimination of "information intermediaries", can be used to integrate disparate systems and multiple sets of information)
The ratio of net profit to the number of shares of common stock outstanding is called the:
earnings per share
Which of the following is NOT a typical task performed by a supply chain manager?
hiring packers and deliverers
A(n) _____ is an independent wholesaler who buys related product lines from many manufacturers and sells them to industrial users.
industrial distributer
Which type of information systems is used by both operational managers and middle managers?
information reporting system
A(n) _____ is an information system that uses information technology tools to improve communications throughout an organization.
office automation system
Current assets, such as marketable securities and inventory, usually are expected to be turned into cash within:
one year
_____ pricing is the strategy of increasing the price of a product so that consumers will perceive it being of higher value.
prestige
In which of the following industries are you most likely to find a broker?
real estate
Customer satisfaction:
refers to the customer's feeling that a product has met or exceeded expectations
_____ is a strategy that focuses on forging long-term partnerships with customers.
relationship marketing
Products that are bought after comparing price, suitability, quality, and style are called _____ products.
shopping
By limiting the number of times a person can use a type of software before registering as the authorized owner of that software, software firms are dealing with problems associated with:
software piracy
A retailer would separate children's clothing purchased from Carter's into various sizes and types of clothing, such as size 6 shirts, size 2T shorts, and size 4T sun dresses. This process is called:
sorting out
Which of the following is an example of in-store retailing?
the purchase of a bottle of Anna Pavlova perfume that is only available inside Saks Fifth Avenue stores (brick and mortar)
Advertising can be found:
tv, radio, in direct mail, billboards
The categories of heavy, moderate, and light users have to do with which type of segmentation?
volume
What is the primary difference between a merchant wholesaler and an agent?
weather it takes title to the product
A face-to-face sales presentation of a good or service to a prospective customer is called:
personal selling
How does unsolicited and unwanted e-mail pose a security risk to companies?
Viruses spread through e-mail attachments.
The _____ is the person who develops and implements a complete strategy and marketing program for a specific product or brand.
project manager
When Nike donated $25,000 to a low-income area to provide job training, it received free and positive _____ in the news media.
publicity
The Sarbanes-Oxley Act:
restricts the types of nonaudit services auditors can provide audit clients
In new-product development, _____ is the stage at which products that do not meet new-product goals are rejected.
screening
The two main types of operating expenses are:
selling and general and administrative
Which one of the following is a commonly used method for market segmentation?
all of the above (benefit, volume, geographic, psychographic
Which of the following is a step in the new-product development process?
all of the above (develop new-product ideas, create a marketing mix, test the new product, screen ideas)
A _____ product is a product for which consumers may search long and hard and for which they refuse to accept substitutes.
specialty
A(n) _____ is a service company that buys and maintains software on its servers and distributes it through high-speed networks to subscribers for a set period of time and a predetermined price.
application service provider
The _____ summarizes an organization's financial status at the end of an accounting period. (as of a specific point in time)
balance sheet
_____ occurs when no money is involved in the exchange of goods or services.
bartering
Collecting data over a period of time and then processing that data all at the same time is called _____ processing.
batch
In a transaction processing system the database can be updated in two ways. They are _____ processing.
batch and on-line
Which of the following is a consumer durable?
bedroom dresser
_____ is the system used to record a firm's financial transactions in a routine and clerical process.
bookkeeping
_____ has a group think of as many ways as possible to generate new-product ideas, vary a product, or solve a problem.
brainstorming
_____ is the breaking down of large shipments of similar merchandise into smaller, more usable quantities that can be sold to consumers and end users.
breaking bulk
A(n) _____ are go-betweens that bring buyers and sellers together.
broker
Business products are classified into two categories. Large, expensive items with long life spans are called _____ products, and; smaller, less expensive items with short life spans are called _____ products.
capital ; expense
In manufacturing, all costs directly related to production including raw materials, labor, and factory overhead are classified as:
cost of goods sold
_____ is the set of values, ideas, attitudes, and symbols created to shape human behavior.
culture
Which of the following is an example of a data security issue?
unauthorized access and use, software piracy, introduction of a computer virus, deliberate damage
_____ are distribution channel members that buy finished products from manufacturers and sell them to retailers.
wholesalers
A network that connects computers at different sites via telecommunications media is called a(n):
wide area network
Data warehouses may contain many _____, subsets of a data warehouse that each deal with a single area of data.
data marts
Which of the following is an example of a social factor that influences the consumer decision-making process?
family
On an income statement, expenses, such as professional salaries, utilities, office supplies, rent, and insurance, are called _____ expenses.
general and administrative
Office automation decisions are specifically designed to:
improve organizational communications
The two types of retailing are:
in-store and nonstore
A(n) _____ is a summary of what a company has earned and spent over a given period.
income statement
General Electric saves $1.6 billion per year by using its private corporate network that links its 340,000 employees. Another name for this network that operates behind a firewall is a(n):
intranet
Which of the following factors can be used to create an atmosphere in a store that sells sports memorabilia?
life-sized pictures of famous athletes mounted on the wall, bright lights, the rebroadcasting of famous sports events as background noise, store clerks dressed in referee uniforms
A network that connects computers at one site is called a(n):
local area network
The _____ is based on the five P's.
marketing mix
After all expenses have been subtracted from revenues on an income statement, the final figure or bottom line is called the _____ when it is a negative number.
net loss
A(n) _____ is a retail store that sells at prices 25 percent or more below traditional department store prices in spartan environments.
off-price retailer
Accounting provides a framework for looking at:
past performance, financial performances of different firms, current financial health, possible future performance
Accountants employed within organizations are called:
private accountants
The Financial Accounting Standards Board (FASB) is a:
private organization that is responsible for establishing financial accounting standards in the United States
Which of the following statements about the accounting profession is true?
Accountants are typically classified as private or public accountants.
Companies that use blogs in their promotions use them because they:
get real-time input from customers and prospects, can focus on specific marketing goals, create and maintain relationships, can have a dialogue with their clients and prospects
How does an executive information system (EIS) differ from a decision support system (DSS)?
EIS is customized for an individual executive, and DSS is not.
_____ are examples of wide area networks (WANs).
Extranets and intranets
Managerial accounting provides information that would probably be most beneficial to:
a middle manager of the company
_____ is any paid form of nonpersonal presentation by an identified sponsor.
advertising
A retail manager who wants to know how his store's sales would be affected if he reduces the number of different national brands the store carries would use what type of information system?
decision support system
Net sales:
deducts sales discount and returns and allowances from gross sales deducting sales discount and returns and allowances from gross sales
Which of the following is NOT an example of a promotional goal?
delivering the product
A basic form of market segmentation that uses such variables as age, education, and income is called:
demographic
Which of the following is NOT an element of the promotional mix?
distribution
_____ 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.
marketing
The _____ is the belief that the firm should dedicate all of its planning, policies, operations, and efforts to the satisfaction of the customer.
marketing concept