TEXES Business and Finance - Domain I, Business and Finance TEXES Exam - Domain III, TeXes Business and Finance (276) PrepManual & Extras, Business and Finance Domain IV, Business and Finance Domain V, Business & Finance 276, TEXES BUSINESS AND FINAN...
Socialism
the economic system based on idea that some if not most of the basic businesses are owned by the government so that profits are more evenly distributed among the people.
Median
the middle set of numbers.
Mode
the most common number in a data set.
Business Cycle
the periodic rises and falls that occur in economies over time.
Accounting
the process of recording, classifying, summarizing, and interpreting financial events and transactions in an organization to provide management and other interested parties the information they need to make good decisions.
Leverage
The ratio of a company's loan capital (debt) to the value of its common stock (equity)
Mutual Insurance Company
a type of insurance company owned by its policyholders.
Inflation
refers to a general rise in the prices of goods and services.
Central Tendency
the central or typical value for a probability distribution
Risk
the chance of loss, the degree of probability of loss, and the amount of possible loss.
Cost of goods sold
the cost of merchandise sold to customers.
Sole Proprietorship
A business that is owned, and usually managed, by one person
Corporations
A corporation is a state-chartered legal entity that has the authority to act and have liability separate from the owners
Partnerships
A legal form of a business with two or more owners
Ethics
behaviors that are accepted by society right rather than wrong
Statutory Restrictions
control or limits placed on an activity under its ruling legislation
Insurance Adjuster
determine whether a party claiming a loss due to property damage, bodily injury, and etc. are owed a payment under an insurance policy and in what amount.
Equal Employment Act and Equal Pay Act
is a United States labor law amending the Fair Labor Standards Act, aimed at abolishing wage disparity based on sex
Balance Sheet
is a financial report that shows the value of a company's assets, liabilities, and owner's equity on a specific date, usually at the end of an accounting period, such as a quarter or a year
Insurance Sales Agent
sell one or more insurance policies and may also act as a financial planner who sell a wide variety of financial products.
Sarbanes-Oxley Act
set new or expanded requirements for all U.S. public company boards, management and public accounting firms. There are also a number of provisions of the Act that also apply to privately held companies, for example the willful destruction of evidence to impede a Federal investigation.
Stocks
shares of ownership in a company.
Occupational Safety and Health Administration
the administration ensures safe and healthful working conditions for working men and women by setting and enforcing standards and by providing training, outreach, education and assistance
Reserve Requirement
the amount of money in checkings and savings accounts that commercial banks must keep in a cash vault or at the district Federal Reserve bank.
World Bank
was established to finance economic development around the world.
Which of the following needs to be done semiannually for three years?
Pro-forma balance sheet
Which of the following shows the projected operating costs?
Pro-forma income statement
Which of the following shows the projected operating costs?
Pro-forma income statement.
Production operations
Produce products
Income Statement
Produced once a month to ensure expense review and control
Production Quotas
Produces short-term improvements in productivity, they have been less successful over the long-term
Four P's of marketing
Product, place, price, promotion
device drivers
Program files that enable the OS to recognize the hardware device and its properties.
syntax
Programming structure.
Work-Based Learning
Programs that provide internships, mentoring, workplace simulations, and apprenticeships along with classroom-based study.
International Business
Refers to all business activities that involve cross-border transactions of services, goods and resources between two or more nations.
Market economony
Reflects decisions about resource allocations based on supply and demand.
A single, permanent storage location within the computer system's CPU that is used for a particular, defined purpose is which of the following?
Register
United States Department of Agriculture (USDA)
Regulates policies on farming, agriculture, forestry and food.
master budget
Set of interrelated budgets that constitute a plan of action for a specified time period.
quota
Sets a numerical limit on how much of a product can be imported into a country.
International Accounting Standards Board (IASB)
Sets the global standards for international accounting. 16 members; based out of London
Skimming
Setting a high price initially and then lowering it later.
Predatory pricing
Setting a low price to force other rivals out of the business.
Penetration pricing
Setting a low price when launching a new product in order to get established in the market.
Psychological pricing
Setting the price just below a round figure.
Which is the most common language used for querying relational databases?
Structured Querying Language (SQL)
Rasterize
The conversion of vector objects into pixel information. / taking an image described in a vector graphic format (shapes or text) and converting it into a raster image (pixels) so that it can be edited like a photograph.
Doctrine of Indemnification
The ability to financially restore a property as it was prior to the incident
current ratio
The ability to sell current assets to pay current liabilities. Found on the balance sheet. Ratio needs to be equal to or greater than one. assets / liabilities
open communication
The ability to share information in a timely basis, with the right people, and with the appropriate intensity.
priority
The order that creditors are paid in a bankruptcy.
Limited Liability
The owner(s) are only responsible for losses up to the amount that they invest
bus
The paths, or lines, on the motherboard on which data, instructions, and electrical power move from component to component.
Income elastic demand
The percentage change in demand for a product is proportionately greater than the percentage change in income
job design
The process of defining how work will be performed and what tasks will be required to fulfill the position. Purpose is to increase employee motivation and productivity.
encryption
The process of encoding messages so that it can only be viewed by authorized individuals.
Authorization
The process of giving someone permission to do or have something and ensuring that users have permission to perform a particular action.
risk management
The process of identifying, assessing and mitigating risks.
Reprographics
The process of making copies of graphic images, such as printed documents
desktop publishing
The production of a document, usually incorporating both text and graphics.
modern economy
The production, buying, and selling of all goods and services, including the people that work to make these activities happen.
Varied and attainable pay mix
Which of the following types of compensation has the greatest positive effect on employee motivation and productivity?
Salvage value
Which of the following valuations is used to calculate the straight-line depreciation of an asset?
Using supporting material throughout the presentation
adds to both your credibility and underscores the reliability of the information being presented.
A medical insurance plan
an optional benefit that employers may offer as a hiring incentive.
logical operators
and; or; not
Mainboard
another term for motherboard.
Microprocessor
another term for the CPU.
Nonverbal communication
any form of communication besides words, such as gestures, actions, facial expressions, and posture
Wide Area Network (WAN)
any telecommunications network that links across metropolitan, regional, national or international boundaries
Consumer Protection Laws
are designed to protect consumers against unfair trade and credit practices involving faulty and dangerous goods or dishonest claims or tactics
Externships
are experiential learning opportunities, similar to internships but generally shorter, provided by partnerships with educational institutions and employers to give students short practical experiences in their field of study. No pay and no school credit, as they are only shadowing the working professional.
Energy and confidence
are two traits that reflect on an individual's professionalism.
The expenses associated with employee risk management
are unrelated to any of the characteristics that a lending company will be reviewing.
Digital certificates
are used by other forms of encryption.
Schematics
are usually used for illustrating more abstract ideas.
Static Budget Variance
the difference between actual results and the expected results in the static budget
Communism
the economic and political system in which the government makes almost all the economic decisions and owns all the major factors of production.
A data transmission channel that carries messages in both directions, but only one direction at a time is which of the following?
half-duplex channel
Occupational Safety and Health Administration (OHSA)
is the federal agency that regulates workplace safety.
Creditworthiness
is the key determinant of how likely it is that the loan will be repaid.
United States Customs and Border Protection (USCBP)
is the largest federal law enforcement agency in charge with regulating and facilitating international trade, collecting import duties, and enforcing U.S. regulations, including trade, customs, and immigration.
New York Stock Exchange (NYSE)
is the largest stock exchange in the world measured by market capitalization. It is an auction market.
conglomerate merger
is the merger between two firms in different industries.
Physical Noise
is the physical sounds that make it difficult to hear someone's message
Speculation market
is the purchase of an asset (commodities, stocks) with the hope that it will become more valuable in the near future. People in this business are usually buying on margin accounts and engaging in very risky financial transactions in an attempt to profit from short term fluctuations in the market value of a financial instrument.
National Association of Securities Dealers Automated Quotations (NASDAQ)
is the second largest stock exchange in the world by market capitalization. It is a dealer's market.
Peer-2-Peer Network
is the simplest type of network; every computer can communicate directly with every other computer
The entrance of a competitor to the market
is unrelated to the characteristics that a lending company will be reviewing.
A register
is used to hold a binary value temporarily for storage, for manipulation and/or for simple calculations.
Organized Labor Laws
is workers joined through membership in trade unions
Agency bonds
issued by a U.S. government-sponsored agency or federal agency and are backed but not guaranteed by the US government, usually higher yields.
The memory management system has three primary tasks. Which of the following is one of these tasks?
keeping track of memory maintaining queues of programs waiting to be loaded into memory de-allocating a program's memory space when it completes execution all of the above Correct answer : all of the above
labor productivity formulas
labor productivity = total output / total man hours labor productivity = total output / number of workers
Institutional Investors
large organizations such as mutual funds, pensions, and insurance companies that invest their money into their own funds or the funds of others.
The Source-state taxes
the company must pay the source-state taxes regardless of the rate.
Communication
the art of transmitting knowledge, ideas, information and thoughts from one person to another
Barriers to communication
the aspects or conditions that interfere with effective exchange of ideas or thoughts
Unemployment Rate
the number of civilians at least 16 years old who are unemployed and have tried to find a job in the last prior four weeks.
Unlimited Liability
the owner of a business is liable for all debts and damages incurred by the business.
Receiver
the person the sender transmits the message to
Workplace Safety Laws
these laws created the Occupational Safety and Health Administration (OSHA). The purpose of these laws is to assure safe and healthful workplaces by setting and enforcing standard.
GDP (Gross Domestic Product)
the total market value of all final goods and services produced annually in an economy
Patent Laws
were created to protect the product or process of an inventor. They restrict the reproduction of a product for a certain amount of years.
Politics involving international trade.
-Maintaining patience. -Creating relationships with the import country. -Petitioning for help from the government. Utilizing lobbying, coalitions, and campaign contributions.
Factors underwriters review
-Medical history and examinations. -Inspection reports. -Information from MIB
distributed database management system (DBMS)
-Multiple computer network sites are connected by a communication system. -Data at any given site are available to users at other sites. -Data at each site are under control of the DBMS.
Hyperlink
A block of text or a graphic that when mouse-clicked takes the user to a new location to an internal or external page. /
foreign bank branch
A branch of the bank located in a foreign country.
margin account
A brokerage account in which brokers loan money to clients to buy stock.
Franchise
A business established or operated under an authorization to sell or distribute a company's goods or services in a particular area / involves multiple business and are based on common template.
Corporation
A business owned by stockholders who share in its profits but are not personally responsible for company's debts
Business Professional of America (BPA)
A career and technical student organization for students interested in management, information technology, office administration, and similar careers.
Client/Server Network
A central computer, known as a server to facilitate communication and resources sharing between other computers on a network, which are known as clients
certificate of deposit
A certificate issued by a bank. Earns high interest but you can't get to the money easily.
Price elastic demand
A change in price results in a greater change in demand.
Price inelastic demand
A change in price results in a proportionately smaller change in demand.
Expansion cards
A circuit board inserted into a slot on the motherboard to enhance the capability of the computer.
What is an Unsubstantiated Claim?
A claim, accusation, or story that has not been proven to be valid or true.
data warehouse
A collection of databases that work together.
Telecommunication system
A collection of nodes and links that enables the transmission of data over public or private networks
spyware
A small computer program, stored on the user's hard drive, that collects users' habits and transmits that information to a third party, all without the user's consent.
media player
A software application for playing back multimedia files, including audio and/or video.
Quicken
A software application that allows the user to track expenses and income, much like a checkbook.
voice recognition
A software package that can convert digital sound into text.
SQL statement
A specific instruction for the computer to do something.
stock
A stake in the ownership of a company.
Structured Query Language (SQL)
A standard computer language for accessing and manipulating a database.
Uniform Commercial Code
A standard set of business laws that regulate financial contracts.
warranty
A statement indicating the liability of the manufacturer for product deficiencies.
money supply
A stock of safe assets that households and businesses can use to make payments or to hold as short-term investments.
Initial Public Offering (IPO)
A stock or bond sold by a corporation for the first time. Proceeds (money from sale) may be used to retire debts, build new plants or buy new equipment or for additional working capital.
SWOT analysis
A structured process used by an organization in developing a strategic plan for goal and mission accomplishment.
FBLA
A student organization that aspires to ready students for success as leaders in our businesses, government, and communities.
interest
A sum paid or charged for the use of money or for borrowing money
economy
A system of institutions and organizations that either help facilitate or are directly involved in the production and distribution of goods and services.
market
A system of institutions, rules and procedures relating to the exchange of goods and services between persons or organizations.
market economy
A system where pricing decisions are decentralized.
tariff
A tax imposed on imports.
A field-based investigation
A teacher is designing a unit that will engage students in an extended project and connect learning and work. It is most appropriate for the teacher to incorporate which of the following experiences into the unit?
Which of the following best describes a digital footprint?
A technological interaction that can be traced to an individual
data warehouse
A term that describes storing large capacity data, which has information constantly added, that is easily retrievable, and used solely for decision making purposes.
Open-Market Operations (OMOs)
A tool of monetary policy, it involves the Fed's buying (or selling) of securities from (or to) commercial banks and the general public. / government purchasing and selling of government securities (bonds) to affect the size of the money supply (to increase, buys securities)
individual development plan
A tool used to identify and track an employee's personal and professional career goals.
registered trademark
A trademark that is registered through the U.S. Patent and Trademark Office. Registered for 20 years.
Digital footprint
A trail or history left behind by a user's interaction with technology
Random Access Memory (RAM)
A type of computer memory that can be written to and read from. RAM usually pertains to the internal memory of a computer. RAM is usually a fast, temporary memory area where data and programs reside until saved or until the power is turned off
Bilateral Contract
A type of contract that arises when a promise is given in exchange for a return promise.
.jpg
A type of image compression that works best with still images and photographs. The Palette has millions of colors.
key person insurance
A type of life insurance taken out on the key person for the benefit of the company.
Command economy
An economic system in which the government controls a country's economy.
Software application
Any program designed for end user. Productivity software such as MS Office, database programs, web browsers.
Viral marketing
Any strategy that encourages people to pass on messages to others about a product or a business electronically.
trademark
Any word, letter, name, design, or symbol that is used to identify a particular business, particular goods, or particular services.
external threats
Anything from your organization's outside environment that can adversely affect its performance or achievement of its goals.
market
Anything that brings buyers and sellers together.
A CEO during a meeting decides to start his speech with a startling introductory statement. This will be most useful when the other participants are :
Apathetic
An active web page generates new information to be displayed at the computer using the computer's own resources. This is done with software known as:
Applet
online resume
Applicants fill in fields on the computer screen and the resume is stored online.
software as a service (SaaS)
Applications that run from elsewhere.
Closing journal entries'
Are always made in the same time period as the adjusted trial balance.'
Practicums
Are specific to a cluster and combine classroom instruction with learning experiences in a laboratory setting or at an approved training site
Closing entries
Are used in all accounting periods, not just the end of the fiscal year.
financial ratio
Calculated by finding two or more line items from a financial statement, making a mathematical operation, and analyzing the results
government bond section
Calculates the prices and changes in US and international bonds.
Focus Groups
Can be time-consuming and expensive
One-on-one Interviews
Can be time-consuming and expensive'
credit cards
Can be used for anything as long as the amount the person wants to spend falls within the assigned limit.
Adverse effects of tariffs and quotas
Can lead to smuggling and other black-market activity.
equity capital
Capital that comes from the sale of stocks to investors.
debt capital
Capital that has been raised through borrowing from a source outside the company.
Who is MOST likely known for being adverse to risk or avoids risk and chooses alternative options?
Capitalist
All the actual and potential alternatives that a consumer might consider constitute a product's _____________.
Competition
The instantaneous purchase and sale of currency in different markets for profit is known as which of the following?
Currency arbitrage
M1 Money supply
Currency, coins, checking accounts demand deposits.
Lending company examines
Current cash flow, not past liabilities
opt out
Customers have the ability to opt out of receiving the email or text.
A person buys the domain name www.ABC.com which is the trademark of ABC Corp. and later sells it to ABC Corp. for a large amount. What is doing this called?
Cyber squatting
National Business Education Association's (NBEA)
Focuses on business education and encourages students in undergraduate programs in business to join.
National Business Education Association (NBEA)
Focuses on business education and encourages students in undergraduate programs in business to join. / Professional organization devoted exclusively to serving individuals and groups engaged in instruction, administration, research, and dissemination of information for and about business.
expressive leadership
Focuses on maintaining group cohesion. Work to maintain warm, friendly relationships and ensure the collective well-being of the group.
competitive advantage
Focusing on clusters of companies within an industry that can provide a nation with a special advantage.
GAAP
Generally Accepted Accounting Principles The standards by which financial statements are prepared. Ensures that information on financial statements is relevant, reliable, comparable, and consistent.
The computer protocol that is used to transfer data over the web using a secure socket layer for security purposes is which of the following?
HTTPS -Hyper Text Transport Protocol Secure
investment
Gross private domestic investment. The value of all goods produced during a period for use in the production of other goods and services. Also called savings.
collective bargaining
Group process of negotiating work-related issues with the anticipation of coming to an agreement.
Cost to form a cooperative
Group whose members agree on a common need and a strategy for how to meet that need
host-country national
Hired by a foreign company to work in your own country.
RAM (Random Access Memory)
Memory modules on the motherboard containing microchips used to temporarily hold data and programs while the CPU processes both. Information in RAM is lost when the PC is turned off.
Read Only Memory (ROM)
Memory that stores information permanently. Holds all the instructions the computer needs to start up.
A cluster of complementary and closely related goods and services spread across a number of industries is known as which of the following?
Meta-market
Flow charts
Illustrate stages in a process or a step-by-step view of a process.
Which of the following types of printers have mostly disappeared from use?
Impact printers
What is a situation where competitive producers affect a market?
Imperfect competition which occurs outside of the monopolies
Establishing procedures to be used systematically
Implies that the procedures are the same regardless of local conditions and do not acknowledge the need to adapt
benefits of CRM
Improved relationships, differentiation, revenue enhancement, and growing the organization.
Varied Pay Mix
Improves employee motivation and productivity
thrift banks
Institutions that focus primarily on taking deposits and providing mortgages.
underwriting
Insurance company evaluates an applicant's risk by reviewing his/her medical information, etc.
Bodily injury liability coverage
Insurance that protects you against financial loss, including the cost of your legal defense, when you are legally responsible for injuring other people in an automobile accident. It is required by law and is part of your insurance policy that helps pay the other party for medical expenses, legal fees, lost income, pain and suffering and funeral costs resulting from a car accident.
errors and omission insurance
Insures against the negligence of the company's professionals such as its lawyers and accountants.
Service characteristic
Intangibility, inseparability, perishability & variability
A receiver's authority and position will affect ______.
Interests
ISTE
International Society for Technology in Education
ITEEA
International Technology and Engineering Educators Association
representative offices
International banking. Small satellite service offices established by a bank that has a relationship with an overseas correspondent bank.
Web Browsers
Internet Explorer and Google Chrome are two common.........
Periodic Inventory System
Inventory does not become part of the count of goods to be sold
Just-in-time Inventory System
Inventory goods are not on hand until needed
EEOC
Investigates discrimination complaints based on an individual's race, children, national origin, religion, sex, age, disability, sexual orientation, gender identity, genetic information, and retaliation for reporting, participating in, and/or opposing a discriminatory practice.[3]
Federal Trade Commission (FTC)
Investigates unsubstantiated claims, especially when the concern is with health, safety, or performance
According to Holland's Personal Orientations and Related Work Environment, what theme would an architect's personality have?
Investigative
competitive advantgage
Investing in the firm to allow it to stay ahead of the competition by offering better value, products, and services to their customers.
national banks
Investing members of the Federal Reserve System. Offers the same services as commercial banks and global banking services.
infrastructure as a service (IaaS)
Network servers and applications are provided to you by a third party and accessed remotely through an Internet connection for a monthly fee.
accounting
The act of collecting, organizing, and interpreting financial data.
transaction anaylysis
The act of examining a transaction to decide how it affects the accounting equation.
currency
The actual medium of exchange, represented by cash.
interest rate
The cost of using credit.
operating expenses
The costs a company incurs that are not related to the production of a product. Found on the income statement.
laissez-faire decision-making
Lets the group make their own decisions. Least-effective style of leadership decision-making.
What are the member countries of the European Free Trade Association?
Lichtenstein, Norway, Iceland, and Switzerland
Array
Like a list of values and each value is identified by a specific index
practicum
Like an internship but is normally associated with a college course designed to give you practical, supervised experience in the field you are studying.
Which of the following organizational structures is a hybrid of a corporation and a partnership while still offering the advantages of a corporation?
Limited liability company
Which of the following organizational structures is a hybrid of a corporation and a partnership while still offering the advantages of a corporation?
Limited liability company.
The contract clause of the Constitution does which of the following?
Limits state action impairing contracts.
spot exchange rate
The current exchange rate.
distributed database
The database consists of multiple, interrelated databases stored at different computer network sites.
liquidation
The debtor's assets are sold and the proceeds are distributed to his creditors.
monetary policy
The decisions a government makes regarding the money supply and interest rates.
Distribution
The delivery of goods from the producer to the consumer.
The term for marketing which looks at the aggregate flow of a nation's goods and services to benefit society is which of the following?
Macro-marketing
securities market
Market where securities are traded either on physical or electronic exchanges.
The art and science of choosing target markets, and of creating and growing customer relationships by creating and communicating value, is known as which of the following?
Marketing management
Which concept is used to create an income statement?
Matching concept
US Treasury bonds
Maturity of 10+ yrs and pay interest 2ice/ yr
peripheral devices
May be connected by wired or wireless technology to the system unit. Communicate with the interior components of the system unit via installed software.
Focus Groups'
May provide findings that are not statistically significant
One-on-one Interviews'
May provide findings that are not statistically significant'
An obedient employee
May signify lack of independence and personal reflection
support
Means always looking for citations from experts within the source.
Push management style'
Means that employees are not being challenged to develop and do not know if they are adding value to the company'
Push management style
Means that employees have a limited understanding of their role
comparable and consistent (accounting)
Means that information on the financial statements is reported in the same manner for every publicly-traded company.
Launching sales initiatives that conform to a corporate calendar
Means that the sales initiatives are developed independently of what might be most appropriate for a given region
wildcard symbol
Means the name of the field can be anything.
Boolean operators
Means there are only two values: true and false.
profitability ratios
Measures a company's efficiency in generating a profit.
safeguards
Measures that are taken to prevent someone or something from an undesirable outcome.
operating profit ratio
Measures the percentage of profit earned on each dollar of sales. Calculated by taking profit divided by sales.
Optional benefit that employers may offer as a hiring incentive..
Medical insurance plan..
Federal law requires businesses to provide..
Medical leave for childbirth.
Which type of oral presentation makes reaction to feedback difficult?
Memory
video memory
Memory chips embedded on a video card.
stocks
Offer a share of the ownership of a company.
Line of Credit
Offer buyers credit toward the products and services they purchase, presents each buyer with a monthly invoice, which is then paid via check or bank transfer.
career management and development systems
Offer programs, counseling, planning, and workshops to help employees manager their careers.
What is a bar graph?
Offers a visual representation of large changes over a space.
currency trading
Often referred to as foreign exchange or Forex. The purchase and selling of currencies in the foreign exchange marketplace, done with the objective of making profits.
traditional economy
Oldest type of economy. Based upon a people's belief and customs.
Payment terms
The conditions under which a seller will complete a sale. Typically, these terms specify the period allowed to a buyer to pay off the amount due, and may demand cash in advance, cash on delivery, a deferred payment period of 30 days or more, or other similar provisions.
information systems
The intersection of technology, people, and processes within an organization.
Creditworthiness
The key determinant of how likely it is that the loan will be repaid
CEOs of companies often misuse their powers to use shareholders' funds to buy themselves expensive products and indulge themselves. This problem is called:
Principal agent problem
Stock Insurance Company
a type of insurance company owned by stockholders.
Probability
the likelihood of something happening or being the case.
Accounting Systems
the method used to record and summarize accounting data into reports.
Financial Market
A financial market is a market in which people trade financial securities, commodities, and goods at prices that reflect the supply and demand.
Annual Report
A yearly statement that explains the financial condition, progress, and expectations of a company.
Economics
the study of how society chooses to employ resources to produce goods and services and distribute them among various competing groups and individuals.
Gross Domestic Product
the total value of final goods and services produced in a country in a given year.
Limited Liability Company (LLC)
An LLC is a corporate structure where members of the company cannot be held personally liable for the company's debts or liabilities.
Insider trading
the unethical practice where a person takes unfair advantage of information that they know about a company that the public does not in order to further their own fortunes.
Debt to Equity Ratio
Compares the total debt of the firm with the owner's equity
Assets
Economic resources, or things of value, owned by a person or business.
Recession
two or more consecutive quarters of decline in the GDP.
Efficiency Ratio
Financial ratios that indicate how effectively a company uses its resources to generate sales
Leverage Ratio
Financial ratios that show how and to what degree a company has financed its own assets
Profitability Ratios
Financial ratios that tell how much of each dollar of sales, assets and owner's investments in net profit
Liquidity Ratio
Financial ratios that tell how well a company can pay off its short-term debts and meet unexpected needs for cash
Asset Turnover Ratio
Indicated the number of dollars in sales the firm generates from each dollar it has invested in assets
Acid Test/Quick Ratio
Indicates a firm's ability to quickly liquidate assets to pay off current debts
Debt-to-Assets Ratio
Measures to what degree the assets of the firm have been financed with borrowed funds
Acquisitions
One company purchases the property and obligations of another company.
Audit
Reviewing or evaluating the information about a company in order to create financial statements.
Discount Rate
The Fed loans money to member banks at a discounted rate.
Premium
an amount paid for an insurance policy.
mixed economy
an economic system that has characteristics of capitalism and socialism.
Rule of indemnity
an insurance person or organization cannot collect more than the actual loss from an insurable risk.
Mergers
Two firms come together to form one company.
Dividends
part of a firm's profits that may distributed to stockholders as either cash payments or additional shares of stock.
Ledgers
a book or other collection of financial accounts of a particular type.
Inventory
a complete list of items such as property, goods in stock, or the contents of a building.
Bonds
a corporate or government certificate indicating that a person has lent money to a firm.
Money Market Account
a interest-bearing account that typically pays a higher interest rate than a savings account, and which provides the account holder with limited check-writing ability
NASDAQ
a nationwide electronic exchange that connects dealers so they can buy and sell securities electronically.
American Depository Receipts
a negotiable certificate issued by a U.S. bank representing a specified number of shares (or one share) in a foreign stock traded on a U.S. exchange
Credit score
a number assigned to a person that indicates to lenders their capacity to repay a loan.
Confidence Interval
a probability that a value will lie within a certain parameter or standard deviation.
Underwriting
sign and accept liability under an insurance policy, thus guaranteeing payment in case of loss of damage occurs.
Consumer Price Index
monthly statistics that measure the pace of inflation or deflation.
Capitalism
most of the factors of production and distributions are privately owned and operated for profit.
Mean
the average for a data set.
coincident indicator
A measurement that shows the current state of the economy.
commercial banks
Accepts deposits and offer business and consumer loans.
Desirable character traits
Independence and personal reflection
Database Software
Is used to organize, manipulate and analyze data
software
Set of instructions written to direct the computer to execute specific tasks.
Inflation
an increase in the price level
The book value of a firm ...
is the equity that the investors have in the firm.
Type of Hyperbole
"Eat our burgers; they are the best in the world"
Type of Unfinished Claim
"Our apple juice gives you more."
Type of Hyperbole'
"Our diamonds are the finest"
What is the validity used in classroom assessment?
"Test Validity"
Type of Unsubstantiated Claim
"Using our cream guarantees no more wrinkles."
State regulations regarding securities laws commonly are referred to as which of the following?
"blue sky" laws.
Technical words
"jargon"; words that have special meaning
What is the FDIC insurance protection limit on deposits made in American banks?
$250,000.
In January the cost of a house was $250,000 and the rates of property in the particular locality were rising by 2.5% every month. If a man bought the house in January how much could he expect to sell it off at in May?
$275,953.20
'Closing journal entries
'Are based on the account balances in an adjusted trial balance.
'Firewall
'Do not provide complete confidentiality because two firewalls might be from the same manufacturer
'Equal Employment Opportunity Commission (EEOC)
'Does not regulate the actual number of employees based on gender, but doe regulate against gender discrimination.
'Mass marketing
'It advertises or promotes a product, good or service to a wide variety of audiences with the expectation of appealing to as many people as possible.
'Push management style
'Means that employees limited understanding of problems and their solutions can be frustrating and make an employee less productive
'Replacement Value
'Not used in a straight-line depreciation
McGregor's Theory X
(1) most people dislike work and will avoid it to the extent possible, therefore (2) they must be continually coerced, controlled, and threatened with punishment to get the work done, and that (3) they have little or no ambition, prefer to avoid responsibility, and choose security above everything else.
McGregor's Theory Y
(1) physical and mental effort are natural and most people find work to be a source of satisfaction, (2) on their own motivation, exercise self-control, self-direction, creativity, and ingenuity in pursuit of individual and collective (company) goals, (3) either seek responsibility or learn to accept it willingly, and that (4) their full potential is not tapped in most organizations.
Social marketing orientation
- the idea that an organization exists not only to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individuals' and society's long-term best interests
advantages of electronic communication
-Ability to communicate directly with consumers, which results in instant feedback. -Ability to customize and tailor messages to individuals.
Ways to succeed in cross-cultural communication:
-Become proficient in the language. -Need to understand if it is high-context or low-context. -Become familiar with cultural differences in nonverbal communication. -Understand the power distance.
How to adapt your message to an audience:
-Choose your appeal (educational, humorous, detailed.) -Ensure that you provide the ability for the audience to respond and offer immediate feedback. -Prepare a clear, focused delivery of the message using visuals to offer support.
disadvantages of electronic communication
-Data overload. -Expense. Potential for invasion of privacy.
Benefits of open/free trade:
-Increased resources. -Overall improved quality of life. -Excellent foreign relations. -Better production efficiency.
Drawbacks of open/free trade:
-Poor working conditions. -Environmental damage. -Loss of jobs.
Classifications of risk
-Preferred -Approved Standard -Approved Substandard or Rated -Declined
How to analyze the audience:
-Their knowledge about the topic. -Demographics. -Attitudes, values & beliefs.
audio formats
.aiff; mp3; wav; wma
video formats
.avi; .mp4; .mkv; mov; wmv
Symbol indicates that lowercase should be used.
/ line
long-term expatriate assignment
1 - 5 years
Food and Drug Administration (FDA) regulates
1) Regulates development of equipment that emits radiation 2) Regulates the distribution of dietary supplements
Occupational Safety and Health Administration (OSHA) regulates
1) Regulates noise in the workplace that can affect a person's health. 2) Regulates the condition for workplace walking surfaces that can cause employee accidents. 3) Regulates electrical requirements and standards in the workplace that affect the worker's environment and prevent accidental electrocutions. 4) Regulates commercial diving to protect employees who repair equipment underwater or dive for commercial seafood.
Six elements of a contract
1. An offer. 2. Acceptance 3. Consideration (money) 4. Capacity to enter in the contract. 5. Intent of both parties to carry out their promise. 6. Legally enforceable terms and conditions.
Steps to Business planning
1. Becoming aware of an opportunity or problem. 2. Define a clear and verifiable objective. 3. Develop the premises of their future plans - forecasting changes in market, assessing population growth and changes in price level. 4. Consider the various means of getting the job done, weigh alternatives. 5. Selecting a course of action. 6.Develop the supporting plans for the great plan to be completed.
Three main ingredients of the investment component of GDP
1. Business expenditures 2. New residential homes constructed. 3. Changes in business inventories.
Nine steps of accounting cycle
1. Collection and analysis. 2. Journalizing the transactions 3. Post to the general ledger 4. Unadjusted trial balance. 5. Five adjustments. 6. Adjusted trial balance. 7. Financial statements. 8. Close accounts 9. Post-Closing trial balance.
Five elements of negligence
1. Def. owed a duty of care. 2. Def. did not act with care. 3. Plaintiff was injured. 4. Injury caused actual damages. 5. Def's actions caused the injury.
Three elements of a tort
1. Defendant had a duty to act in a certain way. 2. Plaintiff must prove Def.'s behavior did not conform to the duty. 3. Plaintiff suffered a loss.
Factors for Equal Pay
1. Do the jobs require the same level of skill. 2. Do the jobs requires the same level of physical or mental effort. 3. Do the jobs require the same general level of responsibility. 4. Do the jobs have the same basic type of working conditions. 5. The prohibition against pay discrimination generally only applies to people in the same establishment.
Five Forces to entering the market
1. If there is enough competition among suppliers to get you a fair deal on products. 2. If any other companies are entering the market. 3. How competitive the market is currently. 4. If companies are healthy. 5. If buyers can really deal with another firm.
four functions of managerial accounting
1. Planning 2. Decision making 3. Monitoring and controls 4. Accountability
According to the Individuals with Disabilities Act of 2004, what are the requirements for an Individualized Education Program?
1. The IEP has to be created before special education services are provided. 2. The IEP should be accessible by all teachers who interact with the student. 3. It is usually created for a single year. 4. The recommendations of parents are also considered as they have a good idea of the level of the student's disability.
The supply factors in economic growth include all of the following;
1. The quantity and quality of a nation's natural resources. 2. The quantity and quality of its human resources. 3. The stock of capital facilities; and 4. Technology.
Developing Business Education Programs
1. conduct a needs assessment with a gap analysis 2. needs assessment to identify priorities, problems and solutions , 3. develop teaching plans, 4. develop long range plans-closely related to state standards for grading period, semester or school year (example: year at a glance) 5. weekly schedules , 6. lesson plans (should be made with recent assessments in mind)
The expectancy theory of motivation's basic features can be described with three concepts:
1. effort - performance expectancy 2. reward expectancy; and 3. reward attractiveness or valence.
Three types of torts
1. intentional torts 2. negligence torts 3. strict liability torts
five categories of wealth
1. mass market (35-75,000) 2. emerging affluent (75-150,000) 3. mass affluent (150,000+) 4. high net worth (over 1,000,000) 5. ultra high net worth (over 30,000,000)
training portfolio mix
1. rising stars - low political; high impact 2. proven performers - high political, high impact 3. wooden spooners - low political, low impact 4. bread and butters - high political, low impact
What is the minimum age for employment as set by the Department of Labor?
14
What is the maximum term that a person on the Board of Governors of the Federal Reserve System can serve?
14 years
If an Internet service provider provides you with a download speed of 2 Megabytes per second, it is equivalent to how many megabits of data per second?
16 megabits per second
If an Internet service provider provides you with a download speed of 2 Megabytes per second, it is equivalent to how many megabits of data per second?
16 megabits per second ( 1 byte is 8 bits -- and one megabyte = 8 megabits -- therefore a download speed of 2 MB per sec is equivalent to 16 megabits per second)
Securities and Exchange Commission (SEC)
1934, is a federal agency that regulates the securities markets, including stock exchanges, brokerage firms, dealers, investment advisors and various investment funds.
American Institute of Accounts (AIA)
1934; Examined the formation of financial statements and introduced the concept of GAAP.
Fair Credit Reporting Act
1970, A federal law that established procedures that consumer-reporting agencies must follow in order to ensure that records are confidential, accurate, relevant and properly used.
Financial Accounting Standards Board (FASB)
1973; Replaced the Committee on Accounting Procedure. 7 members; 5 year terms; maximum of 10 years; must leave job to take the position.
prepare (collective bargaining)
1st step of process. Both groups prepare for the negotiations.
A mother buys diapers for her kids in packs of 5 which cost $2.50, the same can also be bought as a pack of 50 for $20. What is the saving in buying the larger packs?
20%
exchange-traded fund
A basket of funds that can be traded like stock.
discuss (collective bargaining)
2nd step of process. Parties meet to talk about the issues at hand.
short-term expatriate assignment
3 - 12 months
propose (collective bargaining)
3rd step of process. One or both parties formally recommend a solution to the issue at hand.
bargain or negotiate (collective bargaining)
4th step of process. Involves making offers and counter-offers. Each party will present their rationale for the solution.
settle (collective bargaining)
5th and final step of process. Hope to come to an agreement on the issue. Both parties do not always settle.
comparison operators
= equal to <> not equal to > greater than >= greater than or equal to < less than <= less than or equal to
arithmetic operators
=; -; *; /
effective communication
A 2-way information sharing process that strengthens the workplace by helping employees understand directions, complete tasks, and become successful.
Accounting Equation
A = L + Contibuted Capital (Preferred Stock + Common Stock +Pd in Capital) + Retained Earnings (RE Beg. of Period + Net Income (Rev for period - Exp for period) + Dividends)
Accounting Equation for a Partnership
A = L + Member's Equity
Accounting Equation for a Sole Proprietorship
A = L + Owner's Equity
Accounting Equation for a Corporation
A = L + Stockholder's Equity
Equation to calculate Simple Interest Rate
A = P(1+rt)
PowerPoint
A MS application that allows a user to create presentation documents used to display information.
excel
A MS application that allows a user to create spreadsheet documents.
access
A Microsoft application used to create a database.
subsidiary bank
A bank that is formed in a foreign country and is either completely or partially owned and controlled by a bank from a different company.
affiliate bank
A bank that is partially owned by a foreign bank., but the foreign bank does not control it.
Federal Open Market Committee (FOMC)
A committee within the FED that designs and executes the particulars of monetary policy/ 12 members.
Ethernet
A common way of networking computers in a Local Area Network (LAN). Can handle about 10 million bits per second, and can be used by almost any computer system.
polycentric staffing
A company hires host-country nationals for positions in the company from mail clerk all the way up to the executive suites.
Source-State Tax
A company must pay this type of tax regardless of the rate.
Loss of standing among consumers and in the market can occur due to
A company offering inferior products and services
social responsibility
A company, person, or organization that, during the course of its business dealings, works with the benefit of society as a whole in mind.
Limits the data that can pass through it and protects a networked server or client machine from damage by unauthorized users.
A computer firewall
private industrial network
A computer network owned by a company that allows its suppliers to communicate and coordinate with the company regarding its supply chain needs.
computer server
A computer system that provides a service over a network.
Nodes
A connection point that can receive, create, store or send data along distributed network routes.
HUB
A connectivity device that retransmits incoming data signals to its multiple ports ; typically used for star topologies and use twisted pair cabling
Article 2
A contract for sale of goods may be made in any manner sufficient to show agreement.
Express Contract
A contract in which the terms of the agreement are fully and explicitly stated in words, oral or written.
Implied Contract
A contract that comes about simply from actions of the parties.
Unilateral Contract
A contract that results when an offer can be accepted only by the offeree's performance.
Personal Area Network (PAN)
A convenient, one person network.
query
A database object that lets you ask the database about the data it contains.
Doctrine of Contribution
A defendant who has paid more than his/her share of the award has a claim against other jointly liable parties for the excess payment
Modem
A device or program that enables a computer to transmit data over, for example, telephone or cable lines.
Router
A device that examines each packet of data it receives and then decides which way to send it towards its destination
product and information sales
A direct way for online businesses to generate revenue, as long as they identify the right markets and set appropriate and competitive prices.
stock split
A division of shares of a company into a larger number of shares. A 2 for 1 split allows a shareholder to double the number of shares but worth one half of their previous value.
Zip file
A document that has been compressed to take up less space on a computer and to make it quicker to download.
The Environmental Protection Agency (EPA)
A federal agency established in 1970 for the regulation of water and air pollution, toxic waste, pesticides, and radiation. Its purpose is to protect human health and the environment.
EEOC
A federal agency that administers and enforces civil rights laws against workplace discrimination.
Equal Employment Opportunity Commission' (EEOC)
A federal agency that regulates discrimination against more than sex gender, and religion'
capital
A financial asset, such as money.
foreign exchange market
A financial currency market made up of many buyers and sellers that is open nearly 24 hours a day during the week.
Income Statement
A financial statement showing the revenue and expenses for a fiscal period.
360 degree feedback
A form of feedback about an employee's performance from many people within the company and outside the company.
CRM strategy
A game plan implemented by the organization that uses information about customers to gain insights into their wants, needs, and behaviors in order to offer products and services that suit them.
Internet
A global network connecting millions of computers, making it possible to exchange information.
Management by Objective (MBO)
A goal-setting program based on interaction and negotiation between employees and managers coined by Peter Drucker; improves relationship and employee commitment; disadvantage is focusing on end results
fiscal policy
A government's decisions regarding spending and taxing.
What is a pie chart?
A graphic representation of quantitative information by means of a circle divided into sectors, in which the relative sizes of the sectors correspond to the relative sizes or proportions of the quantities of the whole.
MS Office
A group of Microsoft applications that includes word processing, database, spreadsheet, and presentation software, as well as others, depending upon the package choices.
Chipset
A group of chips on the motherboard that controls the timing and flow of data and instructions to and from the CPU.
virtual team
A group of individuals working together from dispersed geographic locations whose members telecommute.
banking system
A group or network of institutions that provide financial services.
computer network
A grouping of computer stations connected in some manner that allows for sharing of resources.
general journal
A journal where all financial transactions are recorded in chronological occur as they occur.
bankruptcy
A legal process to get out of debt when you can no longer make all your required payments
export credit
A line of credit given to an importer by a bank in the exporter's country.
menu
A list of options on screen
target market
A market segment whose needs and demands a company wishes to serve and satisfy.
Security Exchange
A marketplace where member brokers who represent investors meet to buy and sell securities.
cost-benefit analysis
A means of decision-making where the costs and benefits of a proposed activity or project is assessed and oftentimes compared against alternative choices.
labor productivity
A measure of how much value a business can create with its workforce.
lagging indicator
A measurement that occurs after an economic event.
leading indicator
A measurement that predicts economic activity that will occur in the future.
DECA
A national association of marketing education students, provides teachers and members with educational and leadership development activities to merge with the education classroom instructional program.
LAN
A network of devices that are connected on a network that spans a relatively small area and small number of computers that share common resources or responsibilities.
WAN
A network that covers a very large geographical area.
MAN
A network that covers a whole town or city.
Gateway
A node on a network that serves as an entrance to another network.
International Society for Technology in Education (ISTE)
A nonprofit professional organization that focuses on improving teaching and learning through effective integration of technology in pre k-12 and teacher education.
Network Operating System (NOS)
A operating system designed for the sole purpose of supporting workstations, database sharing, application sharing and file and printer access sharing among multiple computers in a network
acceptance
A party can accept an offer in any manner and by any medium reasonable in the circumstances.
business cycle
A pattern of expansions and contractions in an economy.
confidence interval
A range of values that expresses the uncertainty associated with a parameter.
Definition of disability
A person is considered to be disabled if her or she has a physical or mental impairment that substantially limits one or more major life activities, has a record of such impairment, or is regarded as having such an impairment.
series 7 license holder
A person must obtain a license to sell securities. Series 7 is the same as stockbrokers and requires an exam and sponsorship from a firm.
broker
A person or company that buys and sells securities for a client.
Entrepreneur
A person who organizes, manages, and takes on the risks of a business.
Job Shadow
A person will follow and learn from a regular employee.
Doctrine of Insurable Interest
A person will suffer financial or other kinds of loss when they lose or damage a particular property
computer file
A place on a computer where information is stored in a package.
e-commerce revenue model
A plan for generating revenue for an online business.
budget
A plan of anticipated income and expenses.
debt management plan
A plan to repay the debt in a way that is manageable for the client.
Mouse
A pointing and input device that allows the user to move a cursor around a screen and select items with the click of a button.
European Union
A political union based on the Maastricht Treaty, that envisions the eventual establishment of common economic, foreign, security, and justice policies.
National Business Education Association (NBEA)
A professional organization for Business Educational Professionals and works to help members grow professionally and develop their skills in business education.
Browser
A program that allows the user to find and view pages on the world wide web.
Work-study
A program that provides employment to college students to help defray expenses.
Graphical User Interface or GUI
A program that takes advantage of the computer's graphics capabilities to make the program easier to use. Uses pictures or graphics to identify programs or photos for example the icons on your desktop
database management system (DBMS)
A program used to create, process, and administer a database.
Bond
A promise to pay a sum of money by a certain day or after a certain condition. Contracts and Loan Agreements.
offer
A proposal intended to create a contract if the other party agrees to that proposal.
Prepaid' Insurance
A refund could be requested for the unused portion
Asset
A resource that is owned and has value
scannable resume
A resume that can be easily read or scanned by a computer program.
Optional benefit that employers may offer as a hiring incentive.
A retirement plan.
accounting cycle
A series of steps for the collection, processing and reporting of financial transactions. Usually takes 12 months to complete.
process
A series of steps undertaken to achieve a goal.
The name of a restaurant like Burger King fits into which of the following categories?
A service mark
Hypertext Markup Language (HTML)
A set of rules for marking up blocks of text so that a Web browser knows how to display them. It uses a series of tags that defines the display of text on a Web page.
protocol
A set of rules governing the exchange or transmission of data between devices.
program
A set of step-by-step instructions to a computer. Some are burned directly into chips, while others are stored as program files. Programs are written in languages such as BASIC and C++.
Job-shadowing
A short-term experience that allows the student to follow an experienced worker and see the day-to-day activities of a particular career.
VPN
A type of private network built over public infrastructure
bonds
A way of loaning a company money in exchange for interest.
Apprenticheship
A way to learn job skills. Individuals will learn from someone who is skilled in a trade or vocational job and will typically get to practice it.
Java
A widely used programming language expressly designed for use in the distributed environment of the internet. It is the most popular programming language for Android smartphone applications and is among the most favored for edge device and internet of things development.
trace
A wire on a circuit board that connects two components or devices.
parody
A work that ridicules another, usually well-known, work by imitating it in a comic way.
cash method
Accounting method that reports income when it receives payment and will deduct expenses when they are paid.
accrual method
Accounting method whereby companies report income when it obtains the right to collect it and deducts expenses when they have an obligation to pay them.
fund accounting
Accounts for how money is spent rather than how it is earned. Involves managing a set of funds.
Cybersquatting
Acquiring a domain name that refers to a firm, individual, product, or trademark, with the goal of exploiting it for financial gain.
IT asset management
Acquiring, distributing, maintaining, and eventually disposing of IT assets.
Fair Labor Standards Act of 1938
Act which provided for minimum wage and restricted shipments of goods produced with child labor.
Using supporting material throughout the presentation
Adds to both your credibility and underscores the reliability of the information being presented.
Step 6 - Accounting Cycle
Adjusted Trial Balance - Determine whether the accounts balance after making the adjustments in the previous steps.
Step 5 - Accounting Cycle
Adjustments - Make sure that all income earned and expenses incurred are recorded before proceeding to the next step.
The statute of frauds does not apply to which contracts?
Admission of the existence of a contract by the defendant under oath.
planning function of managerial accounting
All about estimating future financial performance. Tools used are the cash flow forecast, profit and loss statement, and balance sheet.
Lines of credit
Agreements made by a bank to lend money at a stated interest rate whenever the owner needs it. A fee is charged for the privilege whether the money is used or not, and interest is charged on any money that is used.
open trade
Aka trade. Occurs when governments do not place any restrictions on imports or exports.
full disclosure principle
All information that is relative to the business be reported either in the content of the financial statements or in the notes to the financial statements.
record
All the data put together.
The supply factors in economic growth include all of the following EXCEPT:
Allocative efficiency
Chambers of Commerce
Allow local businesses to band together to work for the benefit of the business community as a whole.
Garn-St. Germain Depository Institutions Act
Allowed more freedom to thrift banks leaving them almost entirely deregulated. It provided the ability to do commercial lending, along with new accounts that could compete in the mutual funds market.
Amendments to the Bank Holding Company Act
Allowed the consumer banks to begin making commercial loans. Was among the first small moves towards deregulation.
Income Statement'
Allows a company to determine how much money is coming in and how it's being spent
subscription based services
Allows customers to access a library of information or entertainment, join a community, or receive an on-going service for a set fee. Netflix
cafeteria plan
Allows employees the option to pick which benefits they would like to receive.
Federal Copyright Act
Allows for an injunction, money damages and attorney's fees should any of the author's copyright privileges be violated.
Effective employee evaluation
Allows the employee to adjust and improve his/her performance, thus improving productivity
screeners
Allows users to search for companies that meet certain financial criteria.
Mass marketing'
Also called undifferentiated marketing'
managerial accounting
Also known as cost accounting, Focuses on measuring, analyzing, interpreting, and communicating financial information to accomplish organizational goals and objectives.
A person is using various programs at the same time and wants to quickly move from using one to using another. Which keyboard shortcut can be used for this?
Alt+Tab
biometrics
An automated method of recognizing a person based on behavioral or physiological characteristics.
profit
Amount of money left over after all expenses are paid.
Withdrawal of money from account via ATM
Amt is deducted from the customer's account balance
PDF (Portable Document Format)
An Adobe software product that comes in two parts: a free reader and a software product with which to create documents.
word
An MS application that allows a user to create word processing documents.
publisher
An MS software program that allows the user to perform desktop publishing functions to create different documents.
moral agency
An ability to choose the best ethical path within an organization.
Uniform Commercial Code (UCC)
An act that covers sales and other commercial transactions.
intentional tort
An act that is intentionally committed against another person with the aim of causing harm.
In parallel data mining
An algorithm is applied to the entire data set.
Krumboltz's Social Learning Theory of Career Choice
An approach based on social learning and people choose their careers based on what they have learned. The four main factors that influence career choice are genetic influences, environmental conditions and events, learning experiences and task approach skills.
Super's Life-Span/Life-Space Theory
An approach that attempts to account for the various important influences on a person as they experience different life roles and various life stages. Every individual has potential and care development is life long and occurs throughout five major life stages: Growth, Exploration, Establishment, Maintenance, and Disengagement.
Constructivist Theory/Models of Caree Development
An approach that believes that individuals create their own meaning/reality of the world through the experiences they have. People create themselves and the world around them through the interpretations they make and the actions they take.
Holland's Career Typology Theory
An approach that focuses on individual characteristics and occupational task. It expanded the concept of personality types and hypothesized that personalities fall into six broad categories: realistic, investigative, artistic, social, enterprising and conventional.
Trait Theory
An approach to the study of human personality. Theorists are primarily interested in the measurement of habitual patterns of behavior, thought, and emotion.
Mass marketing
An attempt to appeal to an entire market with one basic marketing strategy utilizing mass distribution and mass media.
correspondent bank
An international bank that provides services for another bank.
The U.S. Federal ESIGN Act
An electronic signature as an "electronic sound, symbol or process, attached to or logically associated with a contract or other record and executed or adopted by a person with the intent to sign the record."
customer relationship management (CRM)
An enterprise business system that organizations utilize to acquire, enhance, and retain relationships with customers.
debit
An entry on the left side of an account that signifies an increase in the balance of an asset account and a decrease in the balance of a liability or owner's equity account.
credit
An entry on the right side of an account that decreases the balance of an asset account and increases the balance of a liability or owner's equity account.
forward exchange rate
An exchange rate that is quoted and traded today but for delivery and payment on a specific future date.
flexible exchange rate
An exchange rate that is set by market forces of supply and demand between different countries for each other's currencies.
Network Card
An expansion board you insert into a computer so the computer can be connected to a network.
debt
An expense, or money owed.
.tif
An image file saved in a high-quality graphics format. It is often used for storing images with many colors, such as digital photos and includes support for layers and multiple pages. Can be saved in an uncompressed (lossless) format or may incorporate .JPEG (lossy) compression.
expansionary fiscal policy
An increase in government purchases of goods and services, a decrease in net taxes, or some combination of the two for the purpose of increasing aggregate demand and expanding real output. / combats a recession by either lowering taxes or increasing government spending.
big data
An information set so large that traditional methods for analyzing it are not possible.
keyboard
An input device that enters data with letters, numbers, symbols, and special function keys.
letter of credit
An instrument that a buyer can request from his bank that guarantees that the bank will make a payment for goods purchased once the conditions found in the letter are met.
indemnity principle
An insured party is only entitled to the value of the loss suffered.
Video Card
An interface card installed in the computer to control visual output on a monitor. Also called display adapter or graphics card.
United Nation (UN)
An intergovernmental organization that was tasked to maintain peace and security among nations.
First-in, First-out (FIFO) method'
An inventory costing method which assumes that the first items placed in inventory are the first sold. Thus, the inventory at the end of a year consists of the goods most recently placed in inventory.
Last-in, First-out (LIFO) method'
An inventory valuation method which assumes that the last items placed in inventory are the first sold during an accounting year.
Liability
An obligation that is due and is unrelated to the sale of a product or service
Business Professionals of America (BPA)
An organization devoted to helping high school students successfully enter the business community / is a national student organization for student enrolled in business, office management, technology education programs at the middle school, secondary school and post secondary school levels.
learning organization
An organization that facilitates learning throughout the organization to transform itself and adapt.
stock exchange
An organization that provides the marketplace where stocks are traded.
market profile
An overview of the unique characteristics of the residents of a particular geographic region. Demographics, lifestyle patters, consumer needs and preferences and median income for the area.
What types of claims does the FTC act upon?
An unfinished claim, hyperbole, unsubstantiated claim
debenture
An unsecured debt obligation, such a promissory note or a corporate bond, that a corporation offers to investors in exchange for a loan.
Supply management
Another term for Traditional Purchasing Department
securities
Another term for short-term and long-term financial assets.
Convertible' Securities
Another type of bond or stock
This citation does not include a reference to a specific page within a specific section.
Anthony Sorbo, Handbook of Trust Law (1987).
economic entity assumption/business entity assumption/separate entity assumption
Any activities of a business must be kept separate from the activities of the business owner.
Peripherals
Any auxiliary device such as a computer mouse or keyboard that connects to and works with the computer in some way.
fair use
Any copying of copyrighted material done for a limited and transformative purpose, such as to comment upon, criticize, or parody the copyrighted work.
transaction
Any event that involves goods, services, or money changing hands.
Clinical Experiences
Are used primarily in the health and medical career areas but they can also be in the human resource and legal career areas. To meet the needs of students enrolled in academic and occupational courses that require clinical training, experiences in this setting incorporate school-based learning in a simulated laboratory for mastery of clinical skills necessary for each student's' preferred clinical course of study
Closing journal entries
Are used to move trial balances into temporary accounts.
clearinghouse
Arrange for the purchase and delivery of goods from a third party.
corporation
Articles of incorporation. Elects board of directors and appoints corporate officers. Corporate bylaws. Provides limited liability for shareholders. Can have perpetual existence. Double-income taxation.
Balance Sheet'
Ascertains the financial position of the company on a particular date. Personal & real accounts are shown.
situational interview
Asks candidates how they would react in a specific situation and based upon critical incident.
exempt assets
Assets not sold in the bankruptcy process.
AECT
Association for Educational Communications and Technology
ARBE
Association for Research in Business Education
First-in, First-out (FIFO) method
Assumes that the goods are sold (by merchandising companies) or materials are issued to production department (by manufacturing companies) in the order in which they are purchased. In other words, the costs to acquire merchandise or materials are charged against revenues in the order in which they are incurred. The ending balance of inventory represents the most recent costs incurred to purchase merchandise or materials.
Last-in, First-out (LIFO) method
Assumes that the last costs incurred to purchase merchandise or direct materials are first costs charged against revenues. In other words, it assumes that the cost of merchandise sold (in a merchandising company) or the cost of materials issued to production department (in a manufacturing company) is the cost of most recent purchases.
budgeted income statements
Attempt to predict how much a company will earn from sales and how much it will pay in expenses related to those sales.
terms of computer communication channels, signal loss (reduction of a signal that occurs in a medium as a function of the physical length of a channel) is called:
Attenuation
The stages a buyer passes through in making choices about which products and services to buy is the purchase decision process. Which of the following is NOT a part of this process?
Attitude formation
In an entrepreneurial venture, the revenue rate will be larger than the _____.
Average growth of the industry average
Junior bonds
Backed by promise/ no collateral
In terms of bankruptcy of insolvent firms, which of the following statements is LEAST accurate?
Bankruptcy courts tend to encourage liquidation of the insolvent firm.
Marquette v. First of Omaha
Banks had the right to make loans in the states that they were not headquartered in. They moved to states with the least regulation.
offshore banking centers
Banks manage accounts that are external to the country. They offer lower regulations and taxes.
Edge act banks
Banks that operate pursuant to the Edge Act that amended the Federal Reserve Act. Allow federally chartered bank subsidiaries to engage in international banking activities even when physically located in the U.S.
Theory X
Based on a pessimistic view of employee motivation and behavior. Employees dislike work, are not ambitious, want to avoid responsibility, dislike change, and are self-centered.
Theory Y
Based on an optimistic view of employee motivation and behavior. Assumes that employees enjoy work for organizational goals or causes they believe in. Assumes that employees are capable of creativity, ingenuity, and self-direction.
command system
Based on goals passed down from a central ruler or ruling class.
Market Value
Bases its price on a supply and demand of the item
instrumental leadership
Focuses on achieving goals. Work to maintain productivity and ensure that tasks are complete.
'First-in, First-out (FIFO) method
Batch 1 = Qty 2,000 Cost to produce $8,000 Unit cost for each 4.00 Batch 2 = Qty 1,500 Cost to produce $7,000 Unit cost for each 4.67 Batch 3 = Qty 1,700 Cost to produce $7,700 Unit cost for each 4.53 Total = Qty 5,200 Cost to produce $22,700 Unit cost for each 4.37 Sold 4,000 Batch 1 = Qty 2,000 Unit cost for each $4.00 Total = $8,000 Batch 2 = Qty 1,500 Unit cost for each$4.67 Total =$7,005 Batch 3= Qty 500 Unit cost for each$4.53 Total =$2,265 Total Cost = Qty 4,000 Amount $17,270
'Last-in, First-out (LIFO) method
Batch 1 = Qty 2,000 Cost to produce $8,000 Unit cost for each 4.00 Batch 2 = Qty 1,500 Cost to produce $7,000 Unit cost for each 4.67 Batch 3 = Qty 1,700 Cost to produce $7,700 Unit cost for each 4.53 Total = Qty 5,200 Cost to produce $22,700 Unit cost for each 4.37 Sold 4,000 Batch 1 = Qty 800 Unit cost for each $4.00 Total = $3,200 Batch 2 = Qty 1,500 Unit cost for each $4.67 Total =$7,005 Batch 3 = Qty 1,700 Unit cost for each $4.53 Total = $7,701 Total Cost = Qty 4,000 Amount $17,906
Average Cost
Batch 1 = Qty 2,000 Cost to produce $8,000 Unit cost for each 4.00 Batch 2 = Qty 1,500 Cost to produce $7,000 Unit cost for each 4.67 Batch 3 = Qty 1,700 Cost to produce $7,700 Unit cost for each 4.53 Total = Qty 5,200 Cost to produce $22,700 Unit cost for each 4.37 Sold 4,000 * 4.37 Total Cost = $17,461.53
MS-DOS
Became the standard operating system on IBM-compatible computers.
willful and wanton
Behavior not specially meant to cause fear or injury.
High pay level at beginning salary
Beneficial to hiring but not to improve employee motivation and productivity
Clusters of computers designed to provide high performance at low cost are called:
Beowulf clusters
implied in-fact contract
Binds parties together through a mutual agreement and intent, but there are no expressed terms of the agreement. 1. An unambiguous offer and acceptance. 2. Mutuality of both parties to be bound to the contract. 3. Consideration
six levels: 1. knowledge - one right answer, recall memory 2. comprehension - understanding a concept and explaining 3. application - use knowledge in a different way or different situation 4. analysis - taking apart info and making a response (compare questions) 5. synthesis - putting info together in a new creative way (predicting) 6. evaluation - making value judgments (justify, why)
Bloom's Taxonomy
Senior bond
Bonds backed by claims on issuers property
Corporate Bonds
Bonds issued by a firm, not by a government or a municipality.
Debenture bonds
Bonds that are unsecured (i.e., not backed by any collateral such as equipment).
operating system
Boots up computer, makes sure various elements are working properly. Balances memory, file management, defragmenting disks to optimize hard drive storage, keeps track of power supply.
What determines how much money a company needs to make in order to pay for the cost of staying open?
Break even analysis
economic indicators
Broad statistical measurements of activity that show how a large economy is operating.
This citation does not include the name of an author or a specific page within a specific section.
Brown's Law Dictionary 602 (10th ed. 2008).
time period assumption
Business activities can be reported in distinct time intervals.
major stock indexes
Calculate the value of stock in various market segments.
mutual funds
Buy a preset ratio of pre-chosen stocks.
funds
Buy some, many, or all of the stocks on the market.
dealers
Buy stock or sell stock for their own account.
Net 30 (N/30)
Buyer must settle his or her account within 30 days of the date listed on the invoice.
unregistered trademark
Claiming a trademark by simply using the logo, or the mark.
Optional benefit that employers may offer to former employees.
COBRA
disposable assets
Cash or property that can be converted or sold for cash quickly.
Same pay increases
Causes dissatisfaction among employees because all are being rewarded equally, regardless of performance
Federal Reserve System
Central banking system of the US - created in 1913 by the Federal Reserve Act - quasi public system.
Which of the following sources for innovative opportunity lies within the enterprise?
Changes in industry structure
In which of the bankruptcies can the corporation re-emerge as a healthy organization?
Chapter 11 bankruptcy
5 Cs of Credit
Character, Capacity, Capital, Collateral, Conditions.
Trial Balance'
Checks arithmetical accuracy in recording and postings. Personal, real & nominal accounts are shown.
This citation refers to an editor but not an author and to a page but not a section.
Children and the Law 24 (Connie L. Hercot ed., 1992).
Symbol that means to close up the space.
Circle with space left on left and right sides
expatriate
Citizen of company's home country working in a foreign country.
third-country national
Citizen of one country but is working in another country for company that is headquartered in a third country.
What is an Unfinished Claim?
Claim is one in which the ad claims the product is better, or has more of something, but does not finish the comparison.
Work-Based Learning
Classroom instruction is linked to workplace skills through placements outside of the school that allow students to experience first-hand what adults do in jobs.
margin call
Client is required to put money or securities into the account to bring it up to a set minimum value.
Step 8 - Accounting Cycle
Close Accounts - At end of accounting period, whether it is monthly, quarterly, or annually. Closed out to make sure revenue and expenses for each time period stays with its time period. Net balances from the closed accounts are transferred to the owner's equity account. Only accounts carrying forward: asset, liability and owner's equity accounts.
Balance' Sheet
Closing stock is considered, is part of the financial statement
Step 1 - Accounting Cycle
Collection and Analysis - Collect and analyze all of the financial transactions of the company.
managerial accountant
Collects, analyzes and communicates financial information to people inside the organizational to help them make decisions.
Debt
Comes from taking loans and selling bonds
euro
Common currency of Europe.
selling expense budget
Commonly follows the sales budget. Records the estimated income and predicts expenses directly related to the sale of goods.
electronic data interchange (EDI)
Communication between computers using a standardized message format. One business can send another business a purchase order that can be automatically processed and then shipped out by employees.
Distributed data mining
Communication occurs among multiple process units.
Electronic Communication
Communication using electronic media
internal communications
Communications with a company's outside stakeholders, state agencies, and employees.
build to order
Companies only produce a product when it is purchased, instead of having a warehouse full of finished products.
online advertising
Companies or organizations buy advertising space on your site.
What is a line graph?
Comparing the qualities to two variables to clearly show the changes over time.
Google.com/Finance
Comprehensive section on 20+ industry sales data by month. News and articles on investing. Free stock screener and portfolio tracker.
Marketwach.com
Comprehensive site on US and international markets. Provides free securities and commodity screeners. Breaking news section. Investment data on more than stocks, bonds, and mutual funds, and have investing strategies in real estate. Free online stock market game. Portfolio tracker and premium newsletters.
If a customer of a bank that has the word National in its name or the initials N.A. appear after its name has a complaint with the bank, which Federal Agency should she contact for redress?
Comptroller of the Currency
Service operation that manages resources
Conducts negotiations
One of the top three traits sought by employers
Confidence
Most groups reach a decision in a predictable fashion. Which of the following phases of the decision-making process involves discussion of positions and airing all of the pros and cons fully?
Conflict phase
Internship
Consist of an exchange of services for experience between the student and an organization. Job training for white collar and professional careers.
money market
Consists of buyers and sellers who purchase and sell short-term securities, such as CDs, commercial paper, and U.S. treasury bills.
What type of validity looks at an assessment and how it compares to other variables predicted by a particular theory?
Construct
The consumer has a strategic role in determining the types and quantities of goods produced. This is called:
Consumer sovereignty
Chapter 13 bankruptcy
Consumers and sole proprietors restructure. Creates a plan with the court explaining how the company will pay back its debts. Amount paid is based on debt, income, and assets. Can keep non-exempt property in exchange for monthly payments to creditors. Can't refile for six years.
operating budget
Contain a sales, selling expense, and general administrative budget.
What type of validity that deals with the extent to which test content matches objectives?
Content validity
Multilateral Contracts
Contract that stipulates a minimum price at which importers will purchase guaranteed quantities from the producing nations and a maximum price at which producing nations will sell guaranteed amounts to importers
The legal right to an artistic or written work, including software, is known as which of the following?
Copyright
Chapter 11 bankruptcy
Corporate - Reorganization. Trustee determines how to pay back creditors. Management runs day to day. Court must approve any major business decisions. If company still fails it must liquidate its assets.
investment banks
Corporate level. Handles commodities, foreign transactions, and securities. May be involved in acquisitions and mergers or trading derivatives.
general and administrative budget
Costs such as a facility rentals, administrative personnel salaries, etc.
When developments in a country's legal or political system expose a firm to potential danger or losses, the firm is said to be experiencing which of the following?
Country risk
Farm Credit Administration (FCA)
Created in 1933 by President Franklin D. Roosevelt, the mission is to ensure a safe, sound, and dependable source of credit and related services for agriculture and rural America
Environmental Protection Agency
Created to protect human health and the environment from unethical business practices.
page hijacking
Creating a rogue copy of a popular website that shows contents similar to the original to a Web crawler; once there, an unsuspecting user is redirected to malicious websites
CARS checklist
Credibility, Accuracy, Reasonableness, Support
revolving credit
Credit card that allows you to use the credit card as long you make payments and has an available credit limit.
unsecured debt
Credit cards and medical bills.
A credit card is stolen and used to make several purchases.
Criminal action occurred (classified as Civil Law)
What type of validity that considers the extent to which test scores agree with or predict an external standard?
Criterion validity
business cycle
Expansion - peak - recession - trough
financing
Decisions about what external resources should be brought into the business to be used for investment.
capital budgeting
Decisions about what investments a business will make with its resources.
invest in employees
Dedicate resources to hiring the best staff and ensuring great employee satisfaction.
strict liability
Defendant may be liable for damages even if the defendant was not negligent. Ex. dog bite law
international market
Defined geographically as a market outside the international borders of a company's country of citizenship.
marketing myopia
Defining a business in terms of goods and services rather than in terms of the benefits customers seek.
If you are writing a letter of request, which of the following steps would NOT be part of the process?
Demand for specific action on the request
population standard deviation
Denoted by Sigma symbol.
population mean
Denoted by the symbol mu.
Depository Institutions Deregulation and Monetary Control Act
Deposit insurance increased to $100,000 and the limitation on interest rates for deposit accounts was eliminated. Provided authority to thrift banks.
Income
Derived from the sale of a good or service
business impact
Describes the amount of performance improvement that the product or service under question is producing.
registered copyright
Designated with a circle r. Allows the author or creator the exclusive right to control the use of the material for his or her entire lifetime plus 70 years.
Plan-Do-Check-Act (PDCA)
Developed by W. Edwards Demning; Collect feedback, analyze the feedback, respond to the feedback, then gather more feedback.
Peripheral device
Devices that communicate with the CPU but are not located directly on the motherboard, such as the monitor, floppy drive, printer, and mouse.
Connection between savings and investment
Direct connection between the amount of savings and the amount of investment in a nation.
When a country's government intervenes to keep the value of its currency from fluctuating too much, it is said to be engaging in which of the following?
Dirty float, also known as managed float
discharge
Discharging debts.
Civil Law
Disputes between private parties, or negligent acts that cause harm to others.
Code of Federal Regulations
Divided into 50 titles that represent broad areas that are subject to federal regulation
Functional Management Structure
Divides the parts of the business by what they do. Production, Acctg, marketing, etc.
14 principles of management
Division of work; authority; discipline; unity of command; unity of direction; individual interest are insubordinate to organization's; proper pay and benefits; decision making; scalar chain of authority; coordination of people and materials; equity; stability of tenure; initiative; esprit de corps
Firewalls
Do not check all incoming data for viruses because there are too many file formats, and often files are sent in compressed form.
Expert Reviews
Do not provide the same quality of insight as real end-user testing does
Most teachers
Do not receive the training needed to meet the needs of digital learning.
Temporary Inventory System
Does not account for inventory errors
Developing a set of fixed responses
Does not allow the flexibility to adapt differently if the situation deviates from what has been anticipated
Launching sales initiatives that conform to a corporate calendar'
Does not make it possible to adapt to local calendars or needs
A National Business Education Association (NBEA)
Does not manage teacher evaluation processes.
National Business Education Association's (NBEA)'
Does not manage teacher evaluation processes.
Firewall-
Does not replace host security procedure, but provides some security not complete.-
unsecured
Does not require collateral for a loan.
10 basic accounting principles
Economic Entity Assumption Monetary Unit Assumption Time Period Assumption Cost Principle Full Disclosure Principle Going Concern Principle Matching Principle Revenue Recognition Principle Materiality Conservatism
Enterprise Value
Economic value of a company
securities
Either stocks or bonds. A type of asset that is purchased for investment purposes and can be traded.
implied in-law contract or quasi-contract
Elements are not specifically written or expressed. Used as a remedy in a situation when one party to the quasi-agreement received unjust enrichment resulting from not paying for a product or service.
non-qualified defined contribution pension plan and supplemental executive retirement plan
Employer-sponsored plans that let a company provide an extra retirement benefit to its top employees.
affiliate marketing
Enables you to earn revenue by marketing or offering another product for sale on your site.
Fair Labor Standards Act (FLSA)
Enacted during the Great Depression. Established a federal minimum hourly wage and child labor laws.
Lanham Act
Enacted in 1946. Provides the most extensive protection for both registered and unregistered marks. Must prove: You have a valid and legally protected mark. You own the mark. Someone's use of your mark to identify goods or services caused a likelihood of confusion.
Symbol for transpose or switch around.
Encasing the words lines
Free Trade Zones
Encourage trade by establishing areas where goods are treated as if they are from the country to which they are being imported, thereby reducing duty and tax costs and streamlining production and processes.
fixed exchange rate
Exchange rate that is set by officials, and the government commits to buying and selling currencies at that fixed rate.
democratic decision-making
Encourages group discussion and believes in decision-making through consensus.
Traits that reflect on an individual's professionalism
Energy and confidence
Equal Employment Opportunity Commission (EEOC)
Enforces federal employment discrimination laws.
international bank
Engages in banking transactions in several different countries.
Equal Employment Opportunity Commission (EEOC)'
Ensures equal pay, but does not require employers to pay absent employees a specific rate.
Children's Online Privacy Protection Rule (COPPA)
Ensures that businesses are not contact children under 13 via websites without certain restrictions.
structured training
Ensures that employees have a consistent background, knowledge, and experience.
Who are well known risk takers in business?
Entrepreneurs
Replacement Value
Equals the cost to replace an asset at market price
The category of corporate bonds that are serial bonds issued by transportation companies that are secured by the equipment purchased with the proceeds of the loan is which of the following?
Equipment trust certificates
stock
Equities or shares, is an ownership interest in a company.
What is Not a framework that a business model provides?
Equity
This citation includes references to a specific page within a specific section as well as the name of the author.
Eric James, Civil Procedure § 2.3, at 124 (8th ed. 2012)
dependent events
Events in which the previous attempts affect the outcome of subsequent events.
prima facie case
Evidence is strong enough on face value to convince a court to rule in favor of the plaintiff.
What is a Hyperbole?
Exaggerated statements or claims not meant to be taken literally.
obvious use
Exception to copyright. Copyright work is permitted in a parody, in order to allow a successful comedic moment.
Cost to form a corporation
Expensive and requires extensive documentation
comprehensive benefit plan
Expensive. Provides an incentive to retain talent beyond just base pay.
Externship
Experiential learning opportunities provided by educational institutions to give students short practical experiences in their field of study for a few weeks to a few months.
The seizure of foreign-owned property by a government is called:
Expropriation
Digital technologies
Facilitate more individualized instruction.
Demand and supply determine the ...
Factor market
marketing communications
Fair, accurate, and non-deceptive marketing and advertising when communicating to their customers and clients.
piece work rate
Fixed amount of money paid for each unit or action performed regardless of the time it takes.
FERPA
Family Educational Rights and Privacy Act - In place to safeguard against the misuse of student records.
Title VII
Federal statute included as part of the Civil Rights Act of 1864. Prohibits employment discrimination based on a person's race, color, religion, sex, or national origin.
credit management
Figuring out how to pay the bills. Two components: credit counseling and debt management planning
local file access
Files that are stored on your computer that you can access.
Step 7 - Accounting Cycle
Financial Statements - Use date recorded in the general ledger to prepare the financial statements. Financial statements will be used to determine the financial position of the company.
long-term securities
Financial assets that the investor intends to hold for a period greater than one year.
short-term securities
Financial assets that the purchaser or investor intends to hold for a period of one year or less or that will mature, or expire, in one year or less.
capital market
Financial market where buyers and sellers trade long-term securities, such as stocks and bonds.
Debugging
Finding and fixing errors in programs/software
The par value of a common stock is relevant for which of the following?
Finding the dividend that a stockholder will receive
Establishing the server connection
First step that must occur for a process to begin
If the government consumes much more than what it can collect through taxes or companies operated by it, what does it lead to?
Fiscal Deficit
double-entry accounting system
For every one transaction at least two accounts will be affected.
quantitative forecasts
Forecasts that return numerical data.
Which amendment to the Constitution protects individuals and corporations from unreasonable searches and seizures?
Fourth Amendment
Shareware
Free for the trying, with a send-payment-if-you-keep-it honor system. / software that is available free of charge and often distributed informally for evaluation, after which a fee may be requested for continued use.
Europe
Free market economy based on the movement of capital. Agriculture is subsidized. Service industry - 73%. Manufacturing - 25.2%
What is the kind of unemployment that occurs when people are changing jobs?
Frictional unemployment
When customers are purchasing an adequate number of the products available in the marketplace, they are exhibiting which of the following?
Full demand
Total spending does not affect the GDP if there is ____.
Full employment
Management Structure
Functional, territorial, product and matrix
real interest rate
Given rate at the financial institution (nominal rate) minus the rate of inflation. Nominal rate (rate given at institution) - the rate of inflation.
financial goals
Goals you set that revolve around finances or money.
Legal and ethical
Going beyond the law to preserve the environment
The legal principle used by courts to uphold the decisions of corporate directors and officers is which of the following?
Greenfield investment
group polarization
Happens when a dominant view crystallizes as a result of a group discussion.
limited liability company
Has characteristics of both partnerships and corporations. File articles of organization. Owners are called members. Governed by an operating agreement. Can be member-managed or manager-managed.
Supply Management'
Has evolved into a position of greater importance and esteem with a company'
Traditional Purchasing Department
Has evolved into a position of greater importance and esteem within a company
Wall Street Journal
Has online and print versions. Info on portfolio prices, analysis, statistics on US and international securities and commodities, interactive tools, investment calculators and webinars on investing. Sends breaking news mobile alerts.
Temporary accounts
Have a zero balance at the start of the next period.
low-context culture
Have direct, individualistic employees who tend to base decisions on facts. They want specifics noted in contracts and may have issues with trust.
Less than 20% of teachers
Have the network capacity in the classroom needed for lessons.
The average school and home
Have the same amount of Internet connectivity.
.gif
Have the unique ability to display a sequence of images, similar to video, simple animations, graphics with flat colors, and graphics without gradients. Maximum 256 colors.
restitution
Have to pay for things received as a result of unjust enrichment.
limited partnership
Have to register with the state. General partner manages and is personally liable. Limited partner does not manage and is not liable.
limited liability limited partnership
Have to register with the state. General partner is not personally liable for the wrongdoing of another general partner. Limited partners are not liable for wrongdoing.
maxed out
Having no available credit to spend.
objectivity
Having the ability to rely on documented information to record financial information.
HIPAA
Health Insurance Portability and Accountability Act - In place for the protection, security, and confidentiality of patient records and files.
credit couseling
Helping clients understand credit and their specific situation.
investment banker
Helps companies either raise money through IPOs or restructure through mergers and acquisitions where one company may purchase and merge with another company.
The country under whose laws a company operates is known as its______________.
Home country
regiocentric staffing
Host country nationals staff each foreign subsidiary. Company offices and facilities are grouped into regions and work as a single unit with a fair degree of autonomy from home headquarters.
secured debt
Houses and cars.
equity ratio
How much of a company's assets are financed with shareholder's equity. total equity / total assets High equity ratios encourage other potential shareholders to invest in the company.
debt ratio
How much of the company's assets are financed through debt. total liabilities / total assets
management
Human resource. Employees who oversee and manage the masses of workers engaged int he production process.
labor
Human resource. One of the classic factors of production, along with capital and land, discussed by economists for well over a century.
Equation to calculate Interest
I = Prt
What studies behavior in the workplace?
I/O: Industrial/Organizational Psychology
names of quality management systems
ISO 9001, Six Sigma, Total Quality Management (TQM)
Socratic Seminar
Ideas are examined in a question and answer format. Question posed by leader at the beginning of the seminar and discussed by participants.
IT life cycle
Identification - Takes into account business requirements. Production - IT is purchased and put into production. Management - Repairs, etc. Disposal
What is a diagram?
Identifying the parts of a subject and their spatial or functional relationship.
drive theory
If someone believes a task to be easy, or that they are better than their competitor, they will perform better. If the task is too much of a challenge, productivity will decrease.
Ad valorem tariffs
Increase the price of imported goods, making them less competitive with domestic goods.
Adding a fixed fee to a particular imported good
Increases its price and reduces its competitiveness with domestic goods.
cost
In accounting, the amount of cash given up to acquire a specific item.
benefits of expanding internationally
Increased revenue. More job opportunities. Aid financial situation of foreign country. Build good relationships with partners oversees. Continue business if business at home has slowed. Diversity Good local and global image. Hire employees at a lower rate. Lower costs of doing business. Build relationships with nearby countries. Open to bringing in new ideas and concepts.
Medical payments coverage
In the event you are hurt in an accident and taken to the hospital, Medical Payments Coverage pays for your initial medical expenses related to the accident, regardless of who is at fault. The passengers in your car are also covered, as well as family members living with you if they are injured as pedestrians or when riding in another person's car.
decisional role (managerial)
Includes being an entrepreneur, disturbance handler, resource allocator and a negotiator.
informational role (managerial)
Includes collecting information, receiving information, and disseminating information.
International Business'
Includes commercial transactions conducted electronically over the Internet. (called E-commerce)
Pay Mix
Includes merit pay plans and incentives for groups, departments, and individuals
financial budget
Includes the cash budget, budgeted income statement, and budgeted balance sheet.
sales budget
Includes the expected number of sales and projected income for the upcoming period in months, quarters, or years.
systems software
Includes the programs that are dedicated to managing the computer itself, such as the operating system, file management utilities, and disk operating system.
supply chain management
Includes the storage of the materials used to make the product and any in-process and finished goods.
pass-through taxation
Income and losses are ignored at the entity level for tax purposes.
cash flow
Income you have coming in and what payments you have going out.
inspection report
Independent information on the applicant's financial situation and lifestyle.
Promissory Note
Indicates a loan and debt financing to raise capital
What are goods that see a reduction in consumption with an increase in income called?
Inferior goods
Processed and organized facts and figures that can be used to make decisions is known as which of the following?
Information
CRM systems
Information systems designed to support an organization's CRM strategy. Rely on identifying customer touch points and consolidating customer data.
reliable (accounting)
Information that can be verified as accurate.
relevant (accounting)
Information that has an impact on the financial status of a company.
In a closed economy, savings are equal to which of the following at the equilibrium level of income?
Investments
Franchises
Involve multiple businesses and are based on a common template.
cross-cultural communication
Involves an understanding of how people from different cultures speak, communicate, and perceive the world around them.
job redesign
Involves changing an existing job design. Eliminates monotonous tasks that office and factor workers had performed.
multigenerational planning
Involves creating a plan for a client's money after death. Pass the wealth and minimize taxes. Gifting, trusts, and succession plans.
conditional probability
Involves finding the probability of an event occurring based on a previous event already taking place.
Job-shadowing
Involves following a person throughout a workday to see what the job involves.
management by objectives (MBO)
Involves management and employee collaboration on goal setting.
financial accounting
Involves preparation of financial information for public consumption.
short position
Involves selling borrowed stock that you think is going to go down in value and buying it back when it actually drops in value.
bond market
Involves the trade of debt securities. Instead of becoming owners of the company, the investors become creditors of it.
stock market
Involves the trade of equity securities, which are ownership interests of a company commonly known as shares.
Foreign Exchange
Involves trading currencies
Cost to form a joint venture
Involves two or more business pooling their resources and expertise to achieve a particular goal
financial statement analysis
Involves using two or more line items from a financial statement which forms a ratio, to make calculations and interpret results.
When customer purchase of a product varies on a seasonally, weekly, monthly, or even hourly basis, which of the following is being exhibited?
Irregular demand
Tort law
Is a civil wrong that causes someone else to suffer loss or harm resulting in legal liability for the person who commits the act
Lease Agreement
Is a contract between two parties, the lessor and the lessee
Allowing the residence state to mitigate the tax
Is a long-standing international tax agreement that prevents a company from being subject to double taxation when doing business in two countries.
Uniformity
Is absolute, or very high degree of, comparability between two or more alternatives, processes, products, qualifications, sets of data, systems. etc.
Public Key
Is calculated on demand using a cryptographic algorithm, and are not stored on servers.
Data
Is considered plural when working with databases and can contain basic facts or values
A digital footprint
Is data collected about actions and communications online, can not be earsed
'Prepaid Insurance
Is expensed only as it is used
Damage control
Is expensive and may not work
Client relationship
Is in part of one type of service characteristic
A digital identity
Is information on an entity used by computer systems to represent an external agent. That agent may be a person, organisation, application, or device.
industry consortium
Is like an exchange as it is also a vertical market, but it is owned by a specific industry.
Recording a transaction
Is only an intermediate step between closing the entries and transferring the balances to retained earnings.
reasonableness
Is tested by looking for objectivity, consistency, and fairness.
Cooperative Education
Is the most common available form of work based learning that is designed to assist students in transitions to carers. This features an agreements between schools and employers to provide on the job experiences that relate to a student's career focus
Market segmentation
Is the process of dividing an entire market up into different customer segments. Divide potential customers into groups, or segments, based on different characteristics.
Digital Certificate
Is used by other forms of encryption.
Why has purchasing changed to rational?
It has been discovered that relationships with suppliers can lead to cooperation so that mutual benefit occurs
Uniformity'
It implies consistency in lack of variation between the items being compared, over a long period and across a wide range.
Treasury bills
It is a short-term debt obligation backed by the US Treasury Department with a maturity of less than one year, sold in denominations of $1,000 up to a maximum purchase of $5 million. Usually issued to help pay off national debt.
Which of the following is NOT true of free floating currency?
It is always adjusted at a pre-announced rate
What is embedded marketing?
It is the placement of products in movies or TV shows. An example of this would be the drinks placed for judges to drink during reality shows.
The module of a computer operating system that contains the most important operating system processing functions is which of the following?
Kernel
Step 2 - Accounting Cycle
Journalizing the Transactions - Recording each transaction in the general journal.
Some jurists believe that the power to review laws passed by the legislature should be used whenever the needs of society justify its use. This is called:
Judicial activism
continuous training
Keeps employees on the cutting edge of industry developments.
In distributed data mining'
Knowledge differs between data sets and the global unit, and must be examined to find a uniform pattern in order to give a solution'
Four types of ethical problems in business
Lack of integrity; organizational relationship problems; conflicts of interest; misleading advertising
trademark dilution
Large brands that are well-known can claim that any use of their trademark weakens the value of their trademark.
life insurance companies
Large holders of individual savings; assets of life insurance company are earned by selling policies for much more money than the likely cost of death benefits to be paid out at the time they are sold. Insurance companies typically invest their assets in corporate stock, corporate stock bonds and home mortgages.
Committee on Accounting Procedure (CAP)
Late 1930's; Created the first set of GAAP standards.
When customers share a need that cannot be satisfied by any existing product, they are demonstrating which of the following?
Latent demand
A one-year contract is terminated by the renter before it ends.
Lease
One of the National Business Education Association's (NBEA) endeavors.
Legislative advocacy
Cost to form a partnership
Less expensive than the cost to form a corp., joint venture, or cooperative
Chapter 7 bankruptcy
Liquidation bankruptcy. Occurs when their assets are of little value and the debts are so large that reorganizing the company is not possible. Only includes non-exempt property. Can keep clothing, household items, and in some cases, vehicles & home. Can't refile liquidation bankruptcy again for 8 years. Those that make too much are not eligible.
Trial Balance
List and total of all the debit and credit amounts of the GL for an entity for a given period. Two-column schedule with all the debit balances list in one column and the credit balances listed in another
Dow Jones Industrial Average
Listed on most online investment resources. The oldest index and provides the average price and daily movement on the 30 largest US publicly traded companies.
A table
Lists of data presented in rows and columns. Figures are any other visual depiction.
installment credit
Loan for a purchase. Additional money cannot be borrowed.
Subprime loans
Loans offered to those who typically are not eligible for prime loans. These borrowers are not qualified for a typical loan due to a low credit score of show signs of being likely to default on a loan. Offered at a higher interest rate than normal loans.
The share of a business that is owned by people in the host country is known as which of the following?
Local participation
financial planning
Looking ahead at your future expectations for income, expenses, both in the near and far term, and making a plan to meet your goals.
behavior description interview
Looks at your past behavior in other jobs or job-related situations. Judging the future by looking at the past.
M2 Money Supply
M1 plus balances in most savings accounts and money market mutual funds.
Medical Insurance Bureau
Maintains the applicant's medical information that the underwriter uses to make a decision about the application.
Bits that are combined (usually in groups of 8)
Makes a byte
authoritarian decision-making
Makes all the major group decisions and demand compliance from the group members. Good for quick decisions.
Americans with Disabilities Act (ADA)
Makes it illegal for employers to discriminate against job applicants or employees based upon a disability. The EEOC enforces the ADA.
The animation tool
Makes it possible to arrange the text, graphics, audio and video in the presentation.
The design tool
Makes it possible to choose a template.
The insert tool
Makes it possible to import a graphic, text, audio, and video.
The edit tool
Makes it possible to make changes to the presentation.
Expectations that exceed employees job description or background knowledge
Makes the employee feel unprepared and diminish that employee's performance
Sponsorship
Making a financial contribution to an event in return for publicity.
Changing strategies to accommodate local conditions indicates
Management's willingness to adapt to local environments
decision making function of managerial accounting
Managers use the financial data to make decisions about costing, cost-volume-profit analysis, investment appraisals, and profitability analysis.
monitoring and controls function of managerial accounting
Managers will measure performance by using a budget. Will gauge spending and purchasing decisions.
Sarbanes-Oxley Act of 2002
Mandates that top-level executives in a company must certify that financial information is accurate. Established what types of financial records must be kept and for how long. Made the penalties for noncompliance more severe than ever before. SEC
SQL operator
Manipulates individual data items and returns a result.
The increase in taxes paid as additional income is obtained, divided by that increase in income is which of the following?
Marginal tax rate
Which market has a public sector and a private sector?
Mixed
mixed economies
Mixture of market and command economies. Accounts for most of the economic systems that exist in the world.
cash/revenue
Money coming into the organization either from investors or direct business activity and serves as the resource to pay expenses.
M3 Money Supply
Money includes M2 and long term purchase agreement.
savings account
Money is relatively easy to get to but pays very little in interest.
credit
Money that is borrowed to make purchases.
An inquisitive employee
More likely to anticipate and adjust to future changes.
User Surveys'
Most appropriate way for answering the desired question
express contract
Most common type. All elements are specifically stated, either written or orally. Acceptance and consideration must occur and both parties must understand the terms and conditions.
top-down appraisal
Most common. Involves an employee evaluation by a direct supervisor and is based on the completion of pre-set goals set by management.
GATT (General Agreement on Tariffs and Trade) requires member countries to abide by certain rules of trade. It prohibits discrimination in national regulations covering imports and prevents the establishment of import quotas. This is known as which of the following?
Most-favored Nation status.
commuter expatriate
Moves in to address a specific need, usually just across the border and returns home.
financial leverage
Multiples a company's financial strength with regard to common stockholders, allowing them to provide those stockholders with a larger return than they could have without leverage.
limited liability partnership
Must register with the state. All partners have a degree of limited liability. Partial-shield: partners are only free from personal liability caused by wrongful acts of other partners. Full-shield: partners are fully protected from wrongful acts of other partners, as well as contractual obligations.
NBEA
National Business Education Association- Professional organization devoted exclusively to serving individuals and groups engaged in instruction, administration, research, and dissemination of information for and about business.
Same pay increases'
Negative effect on employee motivation and productivity'
Which of the following is NOT a key element to establish fraud or intentional misrepresentation?
No reason for the plaintiff to believe the misrepresentation offered by the defendant.
land
Nonhuman resource. A classic factor of production. All real estate and all natural resources on or in it.
captial
Nonhuman resource. Classic factor pf production. Includes anything made by human beings that can be used in the production of goods or in providing services.
financial resources
Nonhuman resource. Intangible resources (non-physical) and derive their value from social convention.
technology
Nonhuman resource. The use of scientific and technical concepts and techniques that help you improve the quantity and quality of the production of goods and services you provide.
s-corporation
Not subject to double taxation.
general partnership
Not subject to federal income taxation. All profits and losses are passed through the partnership to the individuals who report them on their income tax. All partners are personally liable for the debts and obligations of their partnership.
Enterprise Value'
Not used in a straight-line depreciation'
Market Value'
Not used in straight-line depreciation
credit unions.
Not-for-profit organizations owned by members and overseen by a board of directors.
FTC Specific Principles and Provisions
Notice of collection of personal information. Choice of sharing information. Security of information. Enforcement
Embedded image
Object copied and pasted into a word processing document
crowdfunding
Obtaining financing by providing
Customer's access privilege
Occurs after the server connection has been established and the verification that the customer holds an account has occurred
inside insurance fraud
Occurs when an agent of an insurance company commits an unethical practice, such as denying valid claims or issuing worthless insurance policies, for financial gain.
long position
Occurs when an investor buys a stock believing that it will increase in value over time.
acquisition
Occurs when one business gains control of another through holding a controlling amount of the company's stock.
outside insurance fraud
Occurs when someone makes a false insurance claims for financial gain.
liability insurance fraud
Occurs when someone wrongly holds another party liable for damages.
In parallel data mining'
One algorithm can be applied to a data set so that the information returned is uniform and more reliable.'
public debt
One cause of currencies fluctuating. Large and consistent public debt encourages inflation and devalues the currency.
inflation rates
One cause of currencies fluctuating. Lower inflation rates = increased currency values Higher inflation rates = depreciation in currency values
terms of trade
One cause of currencies fluctuating. The relationship between a country's export prices and its import prices.
Megahertz (MHz)
One million Hz, or one million cycles per second.
A legislative advocacy
One of the NBEA endeavors.
Finance.Yahoo.com
One of the few free online resources. Historical data includes interactive charts and graphs. Real-time stock prices and company financial data and ratios. Calendar for stock splits, earnings, IPOs, mergers, and acquisitions. Library of articles.
Better Business Bureau (BBB)
One of the oldest nonprofit organizations that establishes self-regulation among businesses.
data
One piece of a record.
Gigahertz (GHz)
One thousand MHz, or one billion cycles per second.
monetary unit assumption
Only activities that can be expressed in dollar amounts can be included in accounting records.
best efforts basis
Only promising to use their best efforts to sell the stock for the price a new company wants.
This is a tool of monetary policy
Open Market Operations
Trial' Balance
Opening stock is considered, not part of the financial statement
The statement of cash flows reports the amount of cash collected and paid out by a company in which of the following activities?
Operating, investing and financing.
The activity whereby resources flowing within a defined system are combined and transformed in a controlled way to add value in accordance with organizational objectives is which of the following?
Operations management
Work-based learning
Opportunities for students to consider different careers and industries, learn basic workplace behavior, develop specific skills within an industry, and apply academic and occupational skills in the workplace.
barcode
Optical patterns that represent data. It can be used to count products so businesses can keep track of their inventory.
application software
Or applications, are often called productivity programs or end-user programs because they enable the user to complete tasks, such as creating documents, etc.
Business strategies
Overall plans that take into consideration such external factors as trends in the marketplace or actions of the competitors. Course of action.
Equity
Ownership in stock or other securities
index fund
Owns bits of every company that is traded on a given exchange.
Equation to calculate Principal Amount
P = I /rt
Prepaid Insurance'
Paid in advance and hold value
Federal Reserve Notes
Paper currency issued by the Federal Reserve.
data consolidation
Part of CRM. Gathers and stores data relating to customers.
startup BIOS
Part of system BIOS that is responsible for controlling the PC when it is first turned on. Startup BIOS gives control over to the OS once it is loaded.
Cash on Delivery
Payment is due at the time when products are delivered. Should the buyer fail to make a payment at this time, the seller is legally able to repossess his or her goods.
Payable on Receipt
Payment is due at the time when products are delivered. Should the buyer fail to make a payment at this time, the seller is legally able to repossess his or her goods.
pay-per-click or pay-per-view
Pays a set fee for each person who clicks on a link or views a page related to the advertiser.
What is a market competition that occurs in oligopolies?
Perfect competition
License
Permission to use software, not ownership.
online banking
Permits customers to review their account information at their convenience. It allows for automatic deposits, automatic ill payments and online electronic transfer of funds from different accounts.
The inventory is updated every time there is a purchase or debit. What system is this?
Perpetual inventory
cash
Physical bills and coins.
To speed up processing, modern computers overlap instructions so that more than one instruction is being worked on at a time. This method is known as:
Pipelining
Four functions of managers
Planning, organizing, leading, controlling Staffing has been added to some lists.
succession plans
Plans for passing a business to a person of a younger generation.
secured
Pledging an asset as collateral for the loan.
What are hardware devices that can be attached to any computer and used without installing any new software called?
Plug and play
plug and play
Plug in a device using a cable and the OS will automatically install the right driver and the device is ready to use.
European Union
Political and economic union of 28 European countries, allowing those countries to work together on political and economic issues, including the promotion of free trade between member countries. Biggest: Germany, France, UK
A central political apparatus that coordinates the economic, social, and political policy of its member states is known as which of the following?
Political union
real estate investment trust
Popular option for investing in real estate through securities. Can collect a portfolio of properties to manage and share the profits with shareholders.
Portable document format, Adobe's native file format that is read by a program called Adobe Acrobat
An investment that does not involve the holder obtaining any degree of control of a firm or interest is known as which of the following?
Portfolio investment
Step 3 - Accounting Cycle
Post to General Ledger - Transactions are posted to the general ledger which is organized by account. The list of accounts is called a chart of accounts.
Step 9 - Accounting Cycle
Post-Closing Trial Balance - Makes sure that all revenue and expense accounts have been closed and the balance sheet accounts consisting of assets, liabilities and owner's equity are in balance.
Which of the following is a lagging indicator?
Prime rate
'Trial Balance
Prepared at EOM, Qtr, Half year, Financial year. Internal Use.
'Balance Sheet
Prepared at the end of Financial year. External use.
Which of the following keyboard shortcuts can be used to close open programs?
Pressing the Alt and F4 keys together
secondary capital market
Previously purchased securities are resold to other investors.
Competitive pricing
Pricing strategies based on prices charged by rivals.
partially flexible exchange rate
Primarily set by supply and demand forces but is sometimes influenced by the government strategically buying and selling currencies to influence the prices of their currency.
Restore Online Shopper's Confidence Act
Prohibits businesses from transferring consumer data to a third-party for the purpose of engaging in post-transaction marketing on the merchant's websites.
Future Business Leaders of America (FBLA)
Promotes the development of leadership skills, career goals, as well as civic and personal responsibilities
Individual computers can store and process data in any arrangement that they want. These arrangements are known as:
Proprietary format
Environmental Protection Agency (EPA)
Protects human health and the environment.
Americans with Disabilities Act (ADA) 1992
Protects rights of disabled individuals in employment and public accommodation; requires reasonable accommodation that enable disabled persons to work with dignity
National Labor Relations Act
Protects the rights of employees and employers
TCP/IP
Protocol that connects computers to the Internet. Tells computers how to exchange information over the Internet.
external opportunities
Provide an organization with a means to improve its performance and competitive advantage in a market environment.
Manufacturing
Provide products
exchange
Provides a marketplace that is focused on service one vertical market. More narrowly focused then e-procurement.
systems thinking
Provides a model of decision-making that helps organizations effectively deal with change and adapt.
budgeted balance sheet
Provides a summary of the company's expected financial status at a future date.
analytical CRM
Provides business intelligence by collecting customer data and transaction histories, analyzing and interpreting the data, and then using the information to make solid business and customer-focused decisions.
director and officers insurance
Provides insurance coverage for the company's directors and top-level officers.
Internship
Provides on-the-job experience for only a short time.
Single Audit Act
Provides provisions for entities that receive federal funds
The expectancy theory of motivation focuses on the expectations people have about their work. The basic features of this theory involve all of the following EXCEPT:
Punishment
underwrite
Purchase all the stock on the primary market and guarantee a certain price.
E-procurement
Purchasing through electronic connections between buyers and sellers - usually online.
capitalist systems
Pure market economies.
Equation to calculate Interest in Percent
R = r * 100
Initial Public Offering (IPO)
Raises capital through equity financing
The theory that contends that businesses, consumers and workers understand how the economy functions and effectively use available information to protect or further their own self-interests is which of the following?
Rational expectations theory
The "you" point of view focuses on analyzing the _____.
Receiver
Delegation is the process by which managers assign tasks and the authority and responsibility to complete them. Classic management urges three guidelines for delegation. Which of the following is NOT one of these guidelines?
Receptiveness
At which part of the business cycle does the GDP drop and unemployment rise?
Recession
Perpetual Inventory System
Records actual costs affiliated with inventory using a physical count
Waste minimization
Reducing the quantity of resources that are discarded in the production process.
cost principle
Refers to the historical cost of an item that is reported on the financial statements.
going concern principle
Refers to the intent of a business to continue operations into the foreseeable future and not to liquidate the business.
matching principle
Refers to the manner in which a business reports income and expenses. Requires that businesses use the accrual form of accounting and match business income to business expense in a given time period.
materiality princple
Refers to the measure of importance of a misstatement in accounting records.
power distance
Relates to how power is distributed in an organization. American companies are usually low power. Managers ask for feedback from employees and may socialize with them.
User Surveys
Relatively quick and inexpensive way of gathering and quantifying public opinion and monitoring change over time
Parallel data mining
Relies on data partitioning and global blending.
Gramm-Leach-Bliley Act
Repealed the Glass-Steagall Act. In response, a flood of mergers between banks, insurance, and security companies occurred.
A line graph
Represent continuous processes.
unregistered copyright
Represented by the circle c designation. Allows an author the exclusive right to reproduce, sell, and perform his or her copyrighted work. Can only seek an injunction for infringement.
Common Stock
Represents ownership in a publicly held company which entitles owners to dividends (if declared by the company's Board of Directors), voting rights on matters affecting the company, and in the elections of Boards members.
meaningful political support
Represents the level of visible support received by key decision makers and stakeholders.
Packaging regulations (especially those that differ from those of the exporting countries)
Require additional processing and raise the price of the goods, thereby decreasing their competitiveness with domestic goods.
conceptual skills
Require the ability to visualize the organization as a whole and deal with ideas and abstract relationships.
blue sky laws
Requires a real estate agent to register an investment offering and provide detailed information on the plan to the SEC.
complex business transaction
Requires a series of events before completion. Buying a house.
2/10 Net 30
Requires buyers to pay within no more than 30 days of receipt. However, this payment type offers a discount of 2% for clients who submit payment within 10 days.
Section 406 of the Sarbanes-Oxley Act
Requires filing a code of ethics with the SEC and ensuring that financial officers are aware of the policy
An Identity-Based Encryption (IBE)
Requires no key management or key infrastructure as do other forms of encryption.
Equal Pay Act of 1963
Requires that an employer pay male and female employees equal pay for equal work. Enforced by the EEOC.
controller
Responsible for accounting activities, such as reporting and analysis of the company's earnings, expenses and overall financial position. Also deals with regulatory reporting.
trustee
Responsible for liquidating the estate.
Consumer Product Safety Commission
Responsible for product safety.
Food and Drug Administration (FDA)
Responsible for the safeguarding of public health by monitoring drugs, medical devices, and cosmetics.
When does it become necessary for an employer to pay a non-exempt employee for the time when breaks are given?
Rest breaks of less than 30 minutes
An insurer is sending details of an insurance policy taken by a client and wants to have them received only by the client. Which of the following services provided by the United States Postal Service should be used?
Restricted Delivery
Firewall
Restricting how data exits the system
qualitative forecasts
Return non-numeric answers.
internal controls
Rules and regulations that are put into place to guard assets owned by a person or a company.
In distributed data mining
Searches using algorithm has to be applied to the different data sets, analyzed and combined to form an answer
The federal agency that insures investors against failure by brokerage firms is which of the following?
Securities Investor Protection Corporation (SIPC)
Reasons why there can pay differentials between men and women.
Seniority, merit, quantity or quality of production, or a factor other than sex.
Glass-Steagall Act
Separated the business of investing and trading by banks from the business of providing services, like checking or savings accounts, to consumers.
Utility programs
Serve as tools for doing system maintenance and repairs the operating system
Federal Reserve
Serves as the central bank for the U.S.
application software
Set of instructions installed in a computing device that lets you do something.
The goal of the presentation
Should be stated up front so the audience understands what to expect.
functional resume
Showcases strengths and skills relevant to the job.
base currency
Shown on the left of the currency pair.
quote currency
Shown on the right of the currency pair.
balance statement
Shows a company's assets, liabilities, and shareholder equity. Reveals what a company owns and owes, and the amount of shares that are owned by shareholders.
circular flow chart
Shows how goods and services move through an economy.
gross profit margin
Shows how much of each dollar of sales is left over to pay selling and administrative expenses. gross profit / sales
profit and loss statement
Shows revenue, costs and expenses during a given time period. Helps managers make revenue generating or cost cutting decisions.
debt ratio
Shows what percentage of assets is financed with liabilities. The lower the ratio the better. liabilities / assets
Bit
Signifies the basic unit of information that is generally 0 to 1.
Oral defamation of a person is known as which of the following?
Slander
Which of the following visual aids would be most helpful in a formal speech to an audience of several hundred people?
Slides
cookies
Small data files that are written and stored on the user's hard drive by a website when that user visits the site with a browser. Shares pages visited, items examined, and dates of visits.
firewall
Software and hardware set up between an internal computer network and the internet.
video editing software
Software for the post-production of video editing.
enterprise resource planning (ERP)
Software that helps businesses to manage and automate many back office tasks. Keeps track of inventory.
digital audio editor
Software to record and edit audio.
Operating System (OS)
Software used to control the computer and its peripheral equipment. Keeps hardware running efficiently and to make the process of communication with that hardware easier.
IT assets
Software, information, computer hardware and network infrastructure.
cracker
Someone who intentionally breaches security to break into someone else's computer or network for a malicious purpose.
actuary
Someone who uses their math skills to help insurance companies assess uncertainty and risk so the company can decided whether it wants to offer insurance and at what price.
expatriate
Someone who works in a foreign country, one where the person doesn't have citizenship.
Bond
Sometimes called a debenture, is a debt instrument, which is a promise to repay a debt.
Securities Act of 1933
Source federal law that requires registration with the SEC. Came about due to Great Depression. Deals with full disclosure.
Management Problems.
Span of Management - too many immediate subordinates to be effective. Job assignments unclear.
hedge fund investments
Specialized type of investment product that requires a minimum investment of $500,000+ and generally invest in securities.
A exchange rate offered on the condition that the promised currency be delivered in two days is known as which of the following?
Spot rate
Symbol means to delete.
Squiggly line crossing out the word
ethnocentric staffing
Staffing the most important positions in foreign subsidiaries with expatriates from the company's home country.
World Trade Organization (WTO)
Started by Marrakech Agreement. / is an intergovernmental organization that is concerned with the regulation of international trade between nations. It provides a forum for negotiations and for settling trade disputes.
illusory promise
Statement that is not legally enforceable because it is too vague or even impossible to fulfill. (lottery promise)
Balance Sheet
Statement which shows the assets, liabilities and equity of the company. Assets, Equity & Liability headings.
law of large numbers
Statistical probability - as the numbers increase, the closer you get to the mean.
hacking
Stealing a business' information.
Bull market
Stock market experiences a general rise in prices and stock trading volume for shares over a period of time.
Bear market
Stock market that experiences a general decline in prices of stock. Not all stocks experience a decline in value, but most do.
Convertible Securities'
Stock or bond, that can be converted to another type of security
Corporate Governance
Stockholders elect the members of a board of directors who oversee the operations of the corporation. Real power held by management group not stockholders who cooperate with a few major stockholders to ensure they remain in power.
What is Not sold in the debt securities market?
Stocks
Classes
Stored data is used to locate data in predetermined groups. For example, a restaurant chain could mine customer purchase data to determine when customers visit and what they typically order. This information could be used to increase traffic by having daily specials
Standards for trademark infringement:
Strength, or length of use of the mark. Proximity of the two businesses or goods. Similarity to the protected mark. Evidence of real consumer confusion. Marketing channels used by each business. Types of goods and how much care a consumer is likely to take in selecting the goods. Intent of the infringing party. Likelihood that the product lines or businesses will be expanded.
Morningstar.com
Strictly online. Wealth of free articles and worksheets on topics like investing in retirements, stocks, bonds, and college funding. Stock tracking. Interactive discussion forum. Comprehensive reports, stocks and bonds comparison screeners, interactive tools, earnings call transcripts and premium newsletters.
c-corporation
Subject to double taxation.
Traditionalism trait
Suggests resistance to change and innovation
Quality of goods and services decrease due to
Suppliers constantly forced to reduce prices
operational CRM
Supports front office operations that deal with customer interactions. Direct sales, call centers, websites, direct mail, ad any other method for communicating with the customer.
Which country is NOT party to the European Free Trade Association?
Sweden
Bits
Symbols of a binary code are commonly represented by the digits 0 and 1. These digits that can only take on one of two values are known as:
Central Processing Unit
Takes data and instructions from the storage unit and makes all sorts of calculations based on the instructions given and type of data. It is then sent back to the storage unit
A résumé that is organized to focus attention on what you can do for a particular employer in a particular position is called a(n):
Targeted resume
Which of the following is most important to consider when developing a technology plan for schools in a district?
Teachers in general need more training to integrate technology in their lessons.
job rotation
Teaches current employees how to do various jobs over time.
The forecast that estimates when scientific breakthroughs will occur is which of the following?
Technological forecast
cash flow forecast
Tells a manager how much cash is available at a given time.
statement of cash flows
Tells how much money came in and was paid out of a specific time period.
statement of retained earnings
Tells how much money that was made was reinvested into the company.
income statement
Tells how much money was made or lost in a given time period.
network
The ability to connect to many different companies without driving or flying to their actual locations.
An unsubstantiated claim about a product affecting the health of the consumer would probably prompt who to act?
The FTC
Carl D. Perkins Vocational and Applied Technology Act Amendments of 1990
The Perkins Act was rewritten in 1990 to shift focus away from training for one specific occupation in favor of broader academic and occupational preparation. The Act emphasized two related approaches: (a) Integrating vocational and academic education so that students gain strong basic and advanced academic skills in a vocational setting, and (b) Providing students with strong experience in and understanding of all aspects of the industry they are preparing to enter. Specific funding was provided to develop and operate coordinated Tech Prep programs leading to an associate degree or certificate.
Countries with pegged exchange rates most often use which of the following as their peg value?
The US Dollar
Doctrine of Subrogation
The ability of one person to take the place of another in regard to a lawful claim/ demand or right against a third party
Legally binding agreement
The agreement must be in writing and signed by both parties.
interest
The amount charged for receiving the loan.
Bandwidth
The amount of data that can be transmitted over a network in a given amount of time.
net income
The amount of income after taxes.
gross income
The amount of income before taxes.
face amount
The amount of insurance coverage for which the applicant is applying.
taxable income
The amount of money the government uses to decide how much you owe in taxes.
principal
The amount you borrowed.
Capital
The assets available for use in an investment
Telecommunications
The assisted transmission of data
ethnocentric perspective
The belief that one's culture is more dominant than that of another culture.
Federal Reserve (the Fed)
The central bank of the U.S.
transactions fees
The charges a company pays for using their service. Ebay; Amazon
bookkeeping
The collection, sorting and recording of the financial transactions of a business.
Current Ratio
The comparison of a firm's current assets to current liabilities.
Primary Storage
The computer's main memory, which consists of the random access memory (RAM), cache memory, and the read-only memory (ROM) that is directly accessible to the CPU / Temporary storage on the motherboard used by the CPU to process data and instructions.
inflation
The erosion of the value of money.
source documents
The evidence that the financial transactions has occurred and include such things as receipts and invoices.
foreign exchange
The exchange of one country's currency for the currency of another.
Punishment.
The expectancy theory of motivation focuses on the expectations people have about their work. The basic features of this theory involve all of the following EXCEPT:
Data mining
The extraction of hidden predictive information from large databases
economic resources
The factors used in producing goods or providing services.
Occupational Safety and Health Administration (OSHA)
The federal agency that regulates workplace safety.
balance sheet
The financial statement that lists all the assets, liabilities, and owner's equity of the company.
initial public offering (IPO)
The first public offering of a corporation's stock.
initial public offering (IPO)
The first public offering of a corporation.
accounting principles
The generally accepted rules which govern the way accounting information is recorded.
domestic market
The geographic region within the national boundaries of a company's home country.
Network Topology
The geometric arrangement of the actual physical organization of the computers and other network devices in a network
creditors
The institution that is owed money.
globalization
The interaction of businesses operating in multiple countries.
Federal Funds Rate
The interest rate banks pay to borrow money from the Federal Reserve.
Bankruptcy
The legal process that an individual, government, or business are unable to meet their financial obligations and is relieved of some of those obligations. The courts divide the assets amongst creditors. This allows the creditors to get part of their money back and free the debtor from the rest of the debt.
intellectual property rights
The legal protection of the original works of inventors, authors, creators, and performers under patent, copyright, and trademark law. Such rights became a contentious area of trade negotiations in the 1990s.
Why do candidates who send Prospecting Letters to clients stand a chance of getting a job?
The management might decide to create a new job posting for the candidate.
Requesting user surveys
The marketing department of a small business wants to obtain information about how and why a product continues to be successful after many years. Which of the following research techniques will be most effective?
Statistical Analysis
The mathematical analysis used to draw conclusions about data.
capital
The money necessary to start and expand businesses.
Monitor
The most commonly used output device for displaying text and graphics on a computer.
financial market
The place where short-term and long-term financial assets are bought and sold.
Although the question and answer period should follow the presentation
The presentation should end with a brief closing to summarize the main points.
equilibrium
The price at which the quantity demanded by consumers is equal to the quantity that's supplied by suppliers.
Market Price
The price determined by supply and demand.
Equilibrium
The price when the supply and demand in the economy are equal.
Which of the following shows the amount investors are willing to pay for each dollar of earnings?
The price-earnings ratio
conservatism
The principle that calls for potential expenses and liabilities to be recognized immediately if you are unsure whether they will actually occur or not, but potential revenue not to be recognized until it is actually received.
data mining
The process of analyzing data and summarizing it to produce useful information.
Supply
The quantity of products that manufacturers or owners are willing to sell at different prices at a specific time.
Demand
The quantity of products that people are willing to buy at different prices at a specific time.
Components of a forecast
The question posed. The data gathered. The outcome recommended by that data.
conditional expression
The question you want to ask.
currency pair
The quotation and pricing structure of currencies traded on the Foreign Exchange (FX) market.
margin of error
The range of percentage points in which the sample accurately reflects the population.
exchange rate
The rate at which one country's currency can be trade for another country's currency.
return on investment (ROI)
The ratio of a profit or loss made in a fiscal year expressed in terms of an investment. net profit / total investment x 100= roi
Decoding
The receiver completed the communication process by interpreting and assigning meaning to the message
What is the preliminary registration statement that must be filed with the SEC describing a new issue of stock and the prospects of the issuing company called?
The red herring prospectus
Price elasticity of demand
The responsiveness of demand to a change in price.
Income elasticity of demand
The responsiveness of demand to change in income
Income elasticity of demand
The responsiveness of demand to change in income.
revenue recognition principle
The revenue is realized when it is earned, regardless of when it is received.
Distribution channel
The route taken by a product from the producer to the customer.
clock speed
The speed, or frequency, expressed in MHz, that controls activity on the motherboard and is generated by a crystal or oscillator located somewhere on the motherboard.
piracy
The stealing of software by copying it and giving or selling it to another person./ the unauthorized use or reproduction of another's work
Cloud
The storing and accessing data and programs over the Internet instead of your computer's hard drive
Which of the following is TRUE of Competency-based education?
The student continues with the program until he or she proves mastery over the objectives. Competency statements are specific and measurable. Content is based on the goals of the learner. Several different types of instructional techniques are used.
Ergonomics
The study of how people interact with their environment and the equipment they use often in the workplace.
groupthink
The tendency for a cohesive group to move toward consensus and conformity, rather than what may be the best plan of action.
extension
The three-letter (or more) addition to the name of a file indicating the type of file.
Which of the following statements about making innovation the norm for a business is LEAST accurate?
The time frame for innovation need not be defined.
accuracy
The timeliness of the information and whether it is true and factual.
revenue
The total amount of money made in a business over one year.
quality management system
The totality of organizational processes, people, internal controls, resources, and goals focused on producing a given output that meets defined specifications.
information technology
The use of computer hardware and software to manage data.
visual communication
The use of drawings, illustrations, or electronics to communicate a message.
Exchange Rate
The value of one nation's currency relative to the currencies of other countries.
net worth
The value of someone's assets minus their liabilities.
standard deviation
The variability of individual observations around their mean.
URL
The web address of a website and brings users to their desired website.
expected value
The weighted payoff based on probabilities.
Trademark Laws
These are legally protected names, symbols, or designs that identify a good or service of one seller and distinguishes them from their competitor
National Environmental Policy Act
This act created the EPA which ensures that businesses must follow certain regulations depending on their business to protect the environment.
Federal Trade Commission Act
This act created the Federal Trade Commission (FTC) whose mission is the promotion of consumer protection and the elimination and prevention of anticompetitive business practices, such as coercive monopoly. The FTC plays a huge role in managing e-commerce transactions.
Over-the-Counter (OTC) Market
This is an exchange where unlisted stocks, American Depository Receipts, and bonds are traded.
Fair Labor and Standards Act
This law provides employers and employees with information about federal minimum wage, overtime, child labor and, and record keeping.
Verification that a customer holds an account
This must occur before a withdrawal can occur
cable modem
This provides high-speed Internet connections through the cable television network.
What is Not a function of operating systems?
Time sharing.
Bankruptcy Code
Title 11 section of US Code. Governs the bankruptcy process.
According to the Sarbanes Oxley Act of 2002 who should sign the company tax return?
Title X of the Sarbanes Oxley Act makes it necessary for the CEO to sign the company tax returns.
Legal but unethical
To import goods from other countries, to buy and sell goods produced by child labor in unsafe conditions
casualty insurance
To insure against risk of loss to persons and property.
Purpose of closing journal entries
To move revenue, expense, and capital withdrawal (dividend) accounts from temporary accounts to permanent accounts.
query
To search, to question, or to find.
separation of duties
To separate one big job into smaller jobs, with a different individual performing each.
Illegal and unethical
To use questionable accounting practices to manipulate a company's stock price for financial gain
A firework spark lands on a neighbor's tree and burns it down.
Tort has occurred
equity multiplier
Total assets divided by total common equity.
Return on investment (ROI) (marketing)
Total sales - Cost of campaign ---------------------------------- Cost of campaign
capital expenditures budget
Track any money that a business receives from selling large plant assets and buying new equipment to carryout out production schedules.
cash budget
Tracks the expected income and spending of cash over an upcoming period of time to ensure that a company has enough cash on hand to meet future needs.
protectionist strategies
Trade policies that restrict the importation of goods and services produced in foreign countries. tariffs, quotas, and embargoes
Trade Secret
Trade secrets consist of information and can include a formula, pattern, compilation, program, device, method, technique or process. To meet the most common definition of a trade secret, it must be used in business, and give an opportunity to obtain an economic advantage over competitors who do not know or use it.
floor trading
Traditional method of trading stocks at an exchange where traders buy and sell stock in an auction-like setting on the trading floor.
basic literary training
Training for things like reading, writing, and problem-solving skills.
technology training
Training on computer software and hardware offered to specific crew members depending on their position.
problem-solving training
Training on how to analyze problems and make decisions.
diversity or sensitivity training
Training on how to deal with people of different races, ethnic backgrounds, genders, sexual preferences or disabilities.
interpersonal skills training
Training on how to maintain positive relationships, communicate better, resolve conflicts, and build trust.
high-leverage training
Training practice that links training to strategic business goals, has top management support, relies on an instructional design model, and is benchmarked to programs in other organizations.
E-Commerce
Transactions conducted electronically over the internet.
Investment spending by American business firms is called the gross private domestic investment. All of the following are part of investment spending EXCEPT?
Transfer of paper assets
Field-based investigations
Transform classroom studies by engaging students in fieldwork and contact with adults who have expertise in the area of study.
high-context culture
Trust is the most important part of business dealings. Focus on interpersonal relationships. More concerned about business teams and group success rather then individual achievement.
In terms of consumer protection, the law that requires suppliers of consumer credit to fully disclose all credit terms is which of the following?
Truth-in-Lending Act
When positioned ergonomically, the knees of a worker seated in a chair should be in which of the following positions?
Two inches from the seat of the chair When seated, a worker should have 2 inches of clearance between her knees and the chair seat. Feet should be placed firmly on the floor as well.
simple business transaction
Typically a singular transaction which may or may not happen again. Buying a cup of coffee.
ongoing business transaction
Typically involve a contract. You and your bank.
fault-tolerant technology
When a network server has fail-over parts built in so if one part goes down, the server keeps working.
negligence
When a party fails to demonstrate the kind of care a prudent person would take in the same situation and an injury occurred.
Benefits of tariffs and quotas.
Ultimately leads to higher prices of goods and fewer choices or quantity of imported goods for the consumer. It is good for domestic companies because of less competition and the ability to charge higher prices. Other benefits: ability to limit unfair trade practices and enhanced national security.
Step 4 - Accounting Cycle
Unadjusted Trial Balance - For every debit entry, there should be a credit entry. Debits are recorded on the left side of the account and credits are recorded on the right side. They must balance.
Americans with Disabilities Act
Under this Act, discrimination against a disabled person is illegal in employment, transportation, public accommodations, communications and government activities.
unjust enrichment
Unfairly receiving a benefit. 1. One party was enriched. 2. On party was impoverished. 3. A connection between the two parties exist. 4. There was no justification for the enrichment. 5. No remedy was provided.
Which of the following is not a type of contract?
Unreasonable is not a type of a contract
Expenses associated with employee risk management
Unrelated to any of the characteristics that a lending company will be reviewing
Entrance of a competitor to the market
Unrelated to the characteristics that a lending company will be reviewing
accountability function of managerial accounting
Use due diligence when measuring and reporting financial information to others.
Salvage Value
Used as a component of the depreciation calculation
geocentric staffing
Used by businesses and other organizations that have a completely integrated global strategy. The best person for the job is hired regardless of the employee's country of origin.
Personal Operating Systems
Used on individual computing device that can run without being part of the network. For example: Windows, Mac, Linux.
cost-volume-profit analysis
Used to analyze how costs and volume affect operating income and net income.
Financial Institutions Reform and Recovery Act
Used to assist in the creation of the Resolution Trust Corporation to assist in dealing with the failed thrift banks.
BIOS setup bit
Used to change some settings on the motherboard.
costing
Used to estimate the cost of products, by comparing the overhead expenses needed to produce a single product. This information is used to make decisions about raw materials, process changes, or modifications and pricing.
investment appraisal
Used to evaluate the value of an investment in terms of rate of return. Might use this technique for the purchase of new equipment or even when hiring additional staff.
Direct Stock Offerings
Used to raise capital by equity financing
Convertible Securities
Used to raise capital by way of equity financing
Identity-Based Encryption (IBE)
Uses an algorithm to calculate and generate the public key automatically on an as needed basis which is much faster and more secure than other methods.
radio-frequency identification (RFID)
Uses electromagnetic fields to wirelessly identify and track tags. Great for keeping track of your supplies and inventory because items can be scanned by the hundreds.
subjective probability
Using a rough estimate to figure out probability.
objective probability
Using actual data to figure out probability.
insurance fraud
Using deceptive practices in paying or collecting on insurance claims.
Ethical sourcing
Using materials, components and services from suppliers that respect the environment, treat their workforce well and generally trade with integrity.
quantitative analysis
Using mathematics to solve business issues with measurements based on verifiable information.
Schematics
Usually used for illustrating more abstract ideas.
In terms of a new entrepreneurial venture rather than one in an existing business, which of the following would be the least likely requirement?
Vagueness in the definition of the entrepreneur's role in the business
mark-to-market
Values an asset according to its current market level.
customer touch points
Various types of diverse interactions that companies have with their customers.
Breach of contract
When a party fails to live up to its obligations under the contract
service mark
When a trademark is used only to identify services.
trusts
Vehicle for passing money and property in an estate tax and income tax efficient manner.
bonds
Very similar to a loan. Pays an interest rate every year, but only pay off the principal, or amount originally invested, once.
Firewall'
Viable component of network security.'
Offer
Voluntary but conditional promise submitted by a buyer or seller (offeror) to another (offeree) for acceptance, and which becomes legally enforceable if accepted by the offeree.
The internet service that finds information about a domain name or IP address is which of the following?
WHOIS
public domain software
Web sites, user groups, and other sources free for the taking./ Any software that is available for use by the public without restriction except that it cannot be copyrighted
Regulary scheduled pay raises
Welcomed by employees, but does not improve employee morale and productivity
A person finds that on printing a brochure a few pictures that had been added appear as boxes of different colors and not like the picture seen when it was added to the word document printed out. What is the reason for this?
When an image has a low resolution it is made with a small number of pixels.
investment
When an individual puts money to work in hopes of making more money in the future.
Debt Securities
a type of security that is traded as bonds and debentures.
international expansion
When a business takes the borders of their market outside of the country in which it was originally established.
leveraged
When a company's debt ratio is high.
public domain
When a copyright expires, the work then becomes a part of the public domain. Works in the public domain may be used by anyone and for any reason.
licensing
When a copyright owner gives permission to a particular party to use the copyrighted work for a specific reason.
international trade
When a country exchanges goods beyond national borders.
evening out the ranks
When companies have employees work multiple jobs.
business analytics or business intelligence
When data mining is used in business applications.
outsourcing
When firms in a developed country transfer some of their activities abroad in order to take advantage of lower labor costs in foreign countries.
project partnering
When people collaborate on a common project in other parts of the world.
default
When the borrower does not pay back the loan.
merger
When two businesses become one business.
loan
When you receive money from a friend, bank, or financial institution in exchange for future repayment of the principal, plus interest.
secondary market
Where investors go to buy stocks and bonds from other investors.
primary capital market
Where investors purchase newly issued securities
primary market
Where new stocks or bonds are initially sold to the public.
secondary money market
Where one investor sells the short-term asset to another investor before the asset's maturity date.
critical incident
Where questions are developed based upon hypothetical incidents related to the job.
primary money market
Where short-term securities are first issued.
medieval feudal system
Where the lord provided the land for growing crops.
arm's length transaction
Where the people involved in the transaction is one where the people involved in the transaction are not personally related.
Income inelastic demand
Where the percentage change in demand is proportionately less than the percentage change in income.
electronic trading
Where traders buy and sell stock through a computer system.
credibility
Whether the argument is presented with valid evidence and the information came from a reliable source.
Using our cream guarantees no more wrinkles.
Which of the following advertising claims is most likely to prompt an inquiry by the Federal Trade Commission?
Establishing the presenter's credibility at the beginning of the presentation
Which of the following approaches is best to use when creating a business presentation?
Promissory notes
Which of the following best identifies the use of debt financing to raise capital?
Doctrine of Subrogation
Which of the following doctrines prevents a person from insuring a neighbor's house?
The perpetual inventory system
Which of the following inventory systems is designed to record the actual costs associated with the inventory using a physical count?
Prevents another company from using the same name throughout the world.
Which of the following is not an advantage of federal registering of your trademark?
A line that looks like a knot in it
Which of the following proofreaders' marks mean to "delete"?
Wireless networking uses radio wave technology as a transmission medium. Typical short-range, local area networking is which of the following?
Wi-Fi
Federal Trade Commission (FTC)
Wielded a weapon against antitrust. Protects consumers from unfair, deceptive, illegal, or unethical business practices.
Establishing credentials and authority at the beginning of the presentation
Will make the audience be more accepting and open to what the presenter has to say.
double meanings
Words having two different, potentially confusing meanings.
The Federal Trade Commission (FTC)
a federal agency established in 1914 to investigate and stop unfair business practices; it has competition and consumer protection jurisdiction
Treaty
a formally concluded and ratified agreement between countries
Federal law requires businesses to provide...
Workers' compensation.
tort
Wrongdoings that are done by one party against another.
Inflation
a general increase in prices and fall in the purchasing value of money.
rate of return on bonds
Yield is a figure that shows the return you get on a bond. The simplest version of yield is calculated using the following formula: yield = coupon amount/price. When you buy a bond at par, yield is equal to the interest rate. When the price changes, so does the yield.
apprenticeship
You work with one expert in a field to learn a skill.
All entries in the balance of payments between the U.S. and all other countries should collectively sum up to ...
Zero
Negligence
a behavior that cause unintentional harm or injury.
Bits and Bytes
a bit- short for binary digit- is a digit that can be 1 or 0. A bit is the smallest unit of information that a digital electronics device can manipulate. a group of eight bits is called a byte.
Zero Based Budgeting
a budgeting approach in which each department starts from zero every year and must justify every item in the budget, rather than simply adjusting the previous year's budget amounts.
cooperative
a business organization owned and operated by a group of individuals to achieve some common goals. Example: credit unions, retail consumer groups, residential organizations, and marketing associations.
Sole Proprietorship
a business owned and managed by a single individual
Uniform Commercial Code (UCC)
a collection of laws that governs various types of business transactions.
Depreciation
a decrease in price or value
Deflation
a decrease in the general level of prices
patent
a document granting an inventor sole rights to an invention
Copyright
a document granting exclusive right to publish and sell literary or musical or artistic work
Equity Securities
a type of security that is traded as stocks
Federal Communications Commission (FCC)
a government agency created in 1934 to regulate American radio stations, and later expanded to regulate television, wireless communications technologies, and other broadcast media.
appreciation
a increase in price or value
Contract
a legally enforceable agreement between two parties.
Quota
a limited quantity of a particular product that under official controls can be produced, exported, or imported.
Total Quality Management (TQM)
a management philosophy that focuses on satisfying customers through empowering employees to be an active part of continuous quality improvement / A company-wide effort to continually improve the ways people, machines, and systems accomplish work.
Consumerism
a movement advocating greater protection of the interests of consumers
Trademark
a name, symbol, or other device identifying a product; it is officially registered with the U.S. government and its use is legally restricted to its owner
Distributive Education Clubs of America (DECA)
a national association of marketing education students, provides teachers and members with educational and leadership development activities to merge with the education classroom instructional program.
Delta Pi Epsilon
a national graduate honorary society for professionals who support and promote scholarship, leadership, and cooperation toward advancement of education for and about business. Established in 1936 at New York University.
Intranet
a network designed for the exclusive use of computer users within an organization that cannot be accessed by users outside the organization
Desktop Publishing requires which of the following as a basic component to start with?
a page composition software
Texas right-to-work law
a person cannot be denied employment because of membership or non-membership in a labor union or other labor organization
Sovereign Immunity
a principle of customary international law, by virtue of which one sovereign state cannot be sued before the courts of another sovereign state without its consent
Standard Deviation
a quantity calculated to indicate the extent of deviation for a group as a whole.
Journals
a record of financial transaction ordered by date.
Stockbroker
a registered representative who works as a market intermediary to buy and sell securities for clients.
Securities and Exchange Commission (SEC)
a regulatory agency that is in charge or regulating the various exchanges.
Chronological resume
a resume format that draws attention to your work experience, which list the most recent position first, and it continues in reverse chronological order through the rest of your work history.
Statutory Rights
a right granted under its ruling legislation.
Depression
a severe recession coupled with deflation.
Secondary Source
a source of information is one that was created later by someone who did not experience first-hand or participate in the events or conditions you're researching.
Claim
a statement of loss that the insured sends to the insurance company to request payment.
Income Statement
a statement that reports a company's financial performance over a specific accounting period.
Actuary
a statistician who has expertise in evaluating various types of risk.
Tariff
a tax or duty to be paid on a particular class of imports or exports.
Phishing
a technique to gain personal information for the purpose of identity theft, usually by means of fraudulent e-mail
Fractional Reserve
a type of banking refers to the fact that banks keep only a small portion of their deposits on hand.
Multilateral Trade Agreement
agreements are agreements on trade issues between three or more countries
Targeted resume
aiming for a specific position and showing how you qualify
Visual aids are often used in presentations. A valid reason for using visual aids includes which of the following?
all of the above (to simplify, to impress , to attract)
subrogation rights
allow an insurer to take action against a negligent third party (and that party's insurance company) to obtain reimbursement for payments made to an insured
Tort
an injury to another person's body, property, or reputation.
escrow account
an account where money is held in trust until it can be delivered to a designated party
Levy
an act of levying a tax, fee, or fine.
joint venture
an agreement between two or more companies to share a business project
accounting equation
assets = liabilities + owner's equity
ALOE
assets, liabilities, owner's equity
Municipal bonds
bonds issued by state and local governments and interest income is tax free.
The sum of the common stock, additional paid-in capital and retained earning is known as which of the following?
book value
Import
bring (goods or services) into a country from abroad for sale
Partnerships
business owned and operated by two or more principals for the purpose of making a profit. Jointly provide capital and labor in exchange for shared profit or loss. No govt permission is required for a partnership, business affairs do not have to be shared beyond partners., as a business form is not required to pay income taxes. Disadvantages: unstable, hard to dissolve if one partner is found to be incompetent.
primary responsibilities of human resources
c - compensation h - human resource development e - employee and labor relations s - safety and health s - staff
When US dollar depreciates or is weak...
can lead to lower imports or goods purchased from foreign countries. Foreign consumers see US products as cheaper, increasing demand for US products and exports.
The task of economic theory is to systematically arrange, interpret and generalize facts. Part of this is assuming all other variables except the one under consideration to be constant. This is called:
ceteris paribus "other things being equal"
Who has the rights to vote at the general meetings of companies?
common stockholders
CD-ROM
compact disc-read-only memory
Secondary Storage
consists of equipment designed to store large volumes of data for long-term storage
What are the three main types of Test Validity?
content, criterion, and construct
comprehensive insurance
covers your car for reasons other than a collision, such as theft, fire, vandalism
fiscal policy
created and implemented by the federal government in the hopes of increasing the gross national product, raising employment and stabilizing price and money.
Monetary Base (MB)
currency outstanding and total reserves at the Fed
Which of the following methods of pricing is a competition-based method of pricing?
customary pricing
Works
database and spread sheet program considered simpler than Excel.
tortfeasor
defendant
General resume
description of your qualifications that can be used for any job related to your career objective and sent to more than one employer
Authentication
determining that users are who they claim to be and verifying the identity of the person or device attempting to access the system
Encoding
developing an idea into a message
Free-trade zones
encourage trade by establishing areas where goods are treated as if they are from the country to which they are being imported, thereby reducing duty and tax costs and streamlining production processes.
Equal Employment Opportunity Commission (EEOC)
enforces federal employment discrimination laws. They regulates discrimination against more than sex, gender and religion. They ensure equal pay, but does not require employers to pay absent employees a specific rate. The EEOC does not regulate the actual number of employees based on gender. They do, however, regulate against gender discrimination.
Domestic
existing or occurring inside a particular country; not foreign or international.
Risk
expose to a chance of loss or damage
Digital technologies
facilitate more individualized instruction.
Workers' compensation and Medical leave for childbirth
federal law requires employers to provide to their employees.
Matrix structure
functional and product structures - both financial and production oversee a project
Equity financing
funding that comes from the business owners contributing capital to buy "shares" of the company. In return for the shares of the company the contributor gains a percentage of the profit
three key elements of of ethical understanding
goals - what you want the end result to be means - how to communicate outcomes - consequence of the decision
Business Objectives
goals or end points to where the business is aiming.
Under inflationary conditions FIFO method will lead to ...
higher profits
The Keynesian range of the aggregate supply curve is:
horizontal
Flow charts
illustrate stages in a process or a step-by-step view of a process.
problem child
in the portfolio matrix, a business unit that shows rapid growth but poor profit margins
Oral communication
implies communication through the spoken word, or using your mouth
When US dollar is strong...
imports are less expensive and will lead to higher imports. Decreases exports because US products seem more expensive to foreign consumers.
social facilitation
improved performance on simple or well-learned tasks in the presence of others
Ad valorem tariffs
increase the price of imported goods, making them less competitive with domestic goods.
types of coincident indicators
industrial production; number of employees by sector; personal income; gross national product
According to the latest research, one of the skills that almost all jobs require is ...
information technology skills.
Disposable Personal Income (DPI)
is the amount of money that households have available for spending and saving after income taxes have been accounted for. It is often monitored as one of the many key economic indicators used to gauge the overall state of the economy.
collision insurance
insurance that covers damage to your vehicle when it is involved in an accident
Prime rate
interest rate charged by banks to their favored clients.
types of leading indicators
interest rates; exchange rates; price of gold; price of oil; stock market; inventory rates; retail sales; building permits; unemployment rate; business license applications
Free Trade
international trade left to its natural course without tariffs, quotas, or other restrictions.
LIFO
inventory accounting in which the most recently acquired items are assumed to be the first sold; method is supposed to create the lowest ending inventory in a period of rising prices. Also create a lower taxable income, lower gross profit.
FIFO
inventory accounting in which the oldest items (those first acquired) are assumed to be the first sold; creates a higher ending inventory and lower cost of goods sold, higher gross profit and higher taxable income.
A franchise
involves multiple businesses and are based on a common template.
World Bank
is a UN agency created to assist developing nations by loans guaranteed by member nations. Its goal is the reduction of poverty.
National environmental policy 1967
is a United States environmental law that established a U.S. national policy promoting the enhancement of the environment and also established the President's Council on Environmental Quality
Securities
is a certificate or other financial instrument that has monetary value and can be traded. These are classified as equity or debt security.
Restricting how data exits the system
is a characteristic of firewalls and demonstrates that a firewall is a viable component of network security.
Future Business Leaders of America - Phi Beta Lambda
is a dynamic organization of young people preparing for success as leaders in business, government, and communities.
Allowing the residence state to mitigate the tax
is a long-standing international tax agreement that prevents a company from being subject to double taxation when doing business in two countries.
European Union
is a political and economic union of 28 member states that are located primarily in Europe. It has internal single market system policies that aim to ensure the free movement of people, goods, services and capital within the internal market.
Law of Large Numbers
is a principle that if a large number of people are exposed to the same risk, a predictable number of losses will occur during a given period of time.
Conflict of laws
is the differences between the laws of two or more countries that have a legal interest in a case
National Business Education Association (NBEA)
is a professional organization devoted exclusively to serving individuals and groups engaged in instruction, administration, research and dissemination of information for an about a business. They encourage students in undergraduate programs in business to join. They focus on business education, not all United States Department of Labor clusters.
An applet
is a small application which needs the help of the browser to work. The web server contacted sends a program to the computer instead of a document. The web browser then enlists the aid of the computer to run the program and display the new information.
Dow Jones Industrial Average (DJIA) "DOW"
is a stock market index that indicates the value of 30 large, publicly owned companies based in the United States.
A sales tax
is a tax that usually the seller collects funds for the tax from the consumer at the point of purchase.
A digital footprint
is a trail or history left behind by a user's interactions with technology. It is NOT an image embedded in a word processing document. IT IS A DATA collected about actions and communications online. It is NOT erasable.
North American Free Trade Agreement (NAFTA)
is a trilateral trade agreement signed by Canada, Mexico, and the United States.
A Value-Added Tax (VAT)
is a type of tax used by other UN member countries except the United States, which uses a sales tax system instead.
Firewall
is a viable component of network security. It restricts how the data exits the system. It has limited confidentiality and cannot provide complete security for a system. It is NOT a replacement for good host security practices and procedures.
What is a holographic will?
is a will and testament that has been entirely handwritten and signed by the testator.
S&P 500
is an American stock market index based on the market capitalizations of 500 large companies having common stock listed on the NYSE, NASDAQ, or the Cboe BZX Exchange.
A tax levy
is an administrative action by the IRS to seize property to satisfy a tax liability.
National Association for Business Teacher Education (NABTE)
is an educational division of NBEA that provides leadership for the business teacher education and promotes business teachers education.
Excise tax
is an indirect tax "hidden" in the price of listed items like; alcohol, tobacco, fuel
COBRA (Consolidated Omnibus Budget Reconciliation Act)
is an optional benefit that employers may offer to former employees.
An inquisitive employee
is more likely to anticipate and adjust to future changes.
A punishment
is not a motivating factor in the expectancy theory of motivation.
Bilateral Trade Agreement
is one made between two contracting parties, and a regional trade agreement is one made between two or more contracting parties that share some common denomination known conceptually as "region."
Legislative advocacy
is one of the National Business Education Association's (NBEA) endeavors.
Identity-based encryption (IBE)
is preferable to other forms of encryption because it uses an algorithm to calculate and generate the public key automatically on an as needed basis which is much faster and more secure than other methods. It does not require public-key servers; there is no storage needed for the public key because it is calculated on demand using a cryptographic algorithm.
Confidence
is rated as one of the top three traits sought by employers.
A cyber squatting
is registering, trafficking in, or using a domain name with bad faith intent to profit from the goodwill of a trademark belonging to someone else.
interpersonal role (managerial)
liaison between the manager and people both inside and outside the organization
What is the term for a written defamation, or defamation published over radio or television?
libel
Patents
licenses that give an inventor the exclusive right to make, use, or sell an invention for a set period of time
Table
lists of data presented in rows and columns. Figures are any other visual depiction.
The animation tool
makes it possible to arrange the text, graphics, audio and video in the presentation.
The design tool
makes it possible to choose a template.
Insert tool
makes it possible to import a graphic, text, audio, and video.
Edit tool
makes it possible to make changes to the presentation.
Management style-Exploitative/Authorative
managerial decisions are imposed on subordinates and management has greater responsibility; little communication overall on the hierarchy; Employees very dependent on jobs and exploited by management. Ex: bad factories. Ineffective
The residence state
mitigates the tax, because the companies pay taxes to the source state.
Semantic Noise
occurs when you have a hard time understanding the words, language, or grammatical structure of a message
Illegal but ethical
of pharmacists to charge the same prices because of the rising costs of prescription medicines
Consideration
offering something of value.
omit
omit
Territorial structure
operations are spread out over a variety of areas each operating independently
Single Market
point at which the economies of the co-operating states become so integrated that all barriers to the movements of labour, goods and capital are removed
Unfair Trade Practices Law
prevents large companies with market power from selling products at very low prices to drive out their competition.
Disinflation
price increases are slowing and the inflation rate is declining.
Deflation
prices are decreasing and inflation is declining.
Stagflation
prices continue to rise despite a slowdown in the economy.
Economic Integration
process by which different countries agree to remove trade barriers between them
Regional Integration
process by which two or more nation-states agree to co-operate and work closely together to achieve peace, stability and wealth
types of lagging indicators
profits; spending; consumer price index; balance of trade; duration of employment; inflation; prime rate; wages; layoffs; financial statements
Which of the following financial controls involves combining the costs associated with a specific activity and all other costs associated with the overall program into one document?
program budget
Cooperative Education
programs that allow students to enhance classroom learning with part-time work related to their majors and interests.
The federal government taxes corporations. In terms of this taxation, which of the following is a tax in which the rate remains unchanged as the tax base increases?
proportionate tax
Copyright Laws
protect a creator's rights of materials such as paintings, cartoons, photos, articles, and books.
Fair Credit Billing Act of 1975
protect consumers from unfair billing practices and to provide a mechanism for addressing billing errors
Functional resume
provides info in a format that emphasizes qualifications categorized by skills and accomplishments
Internship
provides on-the- job experience for only a short time. / Allows the student the opportunity to observe and participate in activities related to a career field; supervised by school personnel and related to the student's career choice. May be paid or unpaid
Commercial finance companies
purchase the accounts receivable of a business at a discount but seller pays if default. Make loans on business inventory or machinery and equipment. Charge higher rates than commercial banks due to higher risk involved.
present value formula
pv = future value required / ((1+periodic rate of return)^number of periods)
When one party is unjustly enriched at the expense of another, the law may imply a duty on the first party to pay the second party even though there is no contract between the two parties. This is called a(n):
quasi-contract
Equation to calculate Interest in Decimal
r = I / Pt
International business
refers to all business activities that involve cross-border transactions of services, goods and resources between two or more nations, including commercial transactions conducted electronically over the Internet, which is considered E-Commerce (Electronic Commerce).
Physiological Noise
refers to things like sickness, hunger, fatigue, headache, allergies, stress, or internal noise that prevents us from giving our full attention.
Psychological Noise
refers to things that are going on in your head as you engage in the communication process
Market economy
reflects decisions about resource allocations based on supply and demand.
Food and Drug Administration (FDA)
regulates distribution of dietary supplements and development of equipment that emits radiation.
Federal Communications Commission (FCC)
regulates interstate and international communications by radio, television, wire, satellite and cable in all 50 states, the District of Columbia and U.S. territories.
The United States Department of Agriculture (USDA)
regulates policies on farming, agriculture, forestry, and food.
The theory of entrepreneurship encompasses all of the following EXCEPT:
reliance on classical economics.
Line graph
represents continuous processes.
Packaging regulations, especially those that differ from those of the exporting countries
require additional processing and raise the price of the goods, thereby decreasing their competitiveness with domestic goods.
Statutory
required, permitted, or enacted by statute
Family Medical Leave Act of 1993
requires employers with 50 or more workers to grant up to 12 weeks of unpaid leave a year to allow workers to take time off to help care for a new born baby or an ill family members without fear of losing their jobs.
Truth in Lending Act/ Consumer Credit Protection Act
requires sellers and lenders to disclose credit terms or loan terms so that individuals can shop around for the best financing arrangements
Sarbanes-oxley act 2002
requires that the CEO and CFO of large companies that have publicly traded stock personally certify that financial reports made to the SEC comply with SEC rules and that info in the reports are accurate.
Unilateral Trade Agreement
retaliatory measure which is imposed by a country without invoking WTO dispute settlement procedures or other multilateral international rules and procedures, and basing its decision solely upon its own criteria.
how shareholders calculate the value of their stock investment
roi=(net income + (current value - original value)) / Original value x 100
Export
send (goods or services) to another country for sale.
Culture
set of values, beliefs, rules, and institutions held by a specific group of people.
The date by which payment for the purchase of securities must be made is which of the following?
settlement date
processor
short for microprocessor unit or CPU
The goal of the presentation
should be stated up front so the audience understands what to expect.
peer-to-peer (P2P)
software that permits direct Internet-based communication or collaboration between two or more personal computers while bypassing centralized servers (Napster, Skype), Often referred to simply as peer-to-peer, or abbreviated P2P, a type of network in which each workstation has equivalent capabilities and responsibilities.
Seasonal unemployment
state of being out of work because of the time of year.
Business Policies
statements of purpose that will define the way a business goes about achieving its goals. A successful set of policies set limits to business activity and encourage initiative.
Act of state doctrine
states that every sovereign state is bound to respect the independence of every other sovereign state, and the courts will not sit in judgment of another government's acts done within its own territory
Initial Public Offering' (IPO)
stock that is considered equity for the buyer'
SWOT
strengths, weaknesses, opportunities, threats
Traditionalism
suggests resistance to change and innovation.
Equation to calculate Time
t = I / Pr
Normal Distribution or Bell Curve
tells us about how data is spread around a mean.
comparative advantage
the ability of an individual, a firm, or a country to produce a good or service at a lower opportunity cost than competitors
Sales orientation
the ideas that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits
software piracy
the illegal copying or use of computer programs
Channel
the method the sender will transmit the message through
Discount rate
the minimum rate of interest charged by the Federal Reserve to member banks for loans.
Diversification
the process of buying several different investment alternatives to spread the risk of investing.
Interest Rate
the proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.
Currency Exchange Rate
the rate at which one currency will be exchanged for another. It is also regarded as the value of one country's currency in relation to another currency.
social loafing
the tendency for people to put less effort into a simple task when working with others on that task
.png
this format can act as a hybrid between the .jpg and the .gif, it allows users to compress either non/continuous tone color images, and allow you to put the on a web page with a clear background
retrieve
to recover; to find and bring back; to get back
debt-to-equity ratio
total liabilities / total equity
Field-based investigations
transform classroom studies by engaging students in fieldwork and contact with adults who have expertise in the area of study.
Cyclical unemployment
unemployment caused by economic downturns, the business cycle during recession period.
Structural unemployment
unemployment that occurs because individuals lack skills valued by employers
Frictional unemployment
unemployment that occurs when people take time to find a job
Activity Based Management (ABM)
using activity-based cost information to make decisions that increase profits while satisfying customers' needs / eliminate activities that are not valuable to the company.
Par value
value assigned to a share of stock and printed on the stock certificate
forms of big data
volume; multiple formats; velocity
Marrakesh Agreement
was an agreement signed in Marrakesh, Morocco, by 124 nations on 15 April 1994, marking the culmination of the 8-year-long Uruguay Round and established the World Trade Organization (WTO).
Environmental Protection Agency
was established in December 1970 under United States President Richard Nixon and is an agency of the United States federal government whose mission is to protect human and environmental health
International Monetary Fund
was established to assist with the smooth flow of money around the world.
Uruguay Round
was the 8th round of multilateral trade negotiations (MTN), that led to the creation of the World Trade Organization (WTO).
The lending company
will be examining current cash flow, not past liabilities.
Sender
will begin the communication process by developing an idea into a message
Establishing credentials and authority at the beginning of the presentation
will make the audience be more accepting and open to what the presenter has to say.
Initial Public Offering (IPO)
the first public offering of a corporation's stock.
Stock Exchange
an organization where members can buy and sell securities for individuals or a company.
Insurance Underwriters
analyze insurance applications and determine whether they should be accepted or rejected.
Asset Valuation
assessing the value of a company, property, or any other item worth money that may produce cash flow.
Open market Operations
consist of buying and selling of bonds to increase the money supply.
