BUAD 105 Exam 3 quiz review

During the industrial revolution, most firms took what kind of marketing approach?

A production orientation

A loan that includes collateral, like a mortgage, is called what?

A secured loan

_____ is the recording, measurement, and interpretation of financial information.

Accounting

is a summary of the firm's financial performance presented to outsiders and is used for filing income taxes, obtaining credit from lenders, and reporting results to the firm's stockholders

Annual report

Which of the following is the Accounting Equation?

Assets = Liabilities + Owner's Equity

Which of these in NOT a type of accountant?

Certified financial accountant (CFA)

_____ relies mainly on checking and savings accounts as sources of funds for loans; whereas ____ is owned and controlled by its depositors, who usually have a common profession

Commercial banks; credit unions

What are the very short-term IOUs issued by only the largest companies called?

Commercial paper

____ is the credit extended by suppliers for the purchase of their goods and services.

Trade credit

When is a total-market approach useful?

When everyone is a potential consumer of your products

_____ is the managing of short-term assets and liabilities.

Working capital management

Cash, accounts receivable, and inventories are all examples of a company's ____; whereas accounts payable, and accrued expenses are examples of ____

assets; liabilities

The buyers of ____ loan the issuer cash in exchange for regular interest payments until the loan is repaid on or before the specified maturity date, like a long-term IOU

bonds

One of the most important jobs performed by the financial manager is to decide what fixed assets, projects, and investments will earn profits for the firm beyond the upfront costs to fund them; this analysis is known as ______.

capital budgeting

Which of these is NOT a function of money?

creation of value

Some businesses sell their accounts receivable to a finance company known as a _____

factor

The _____ financial report that offers one of the clearest possible pictures of the company's overall revenues and costs incurred in generating those revenues

income statement

Things such as cash flows and budgets are examples of (a) ____; whereas the annual report a company releases is an example of (a)

internal uses; external uses

A financial institution that helps other companies create and sell stock and other securities is called a _____.

investment bank

What are high-risk bonds called? serial bonds

junk bonds

A _____ is a group of closely related products that use similar marketing strategies, a _____ are all of the products offered by an organization

product line; product mix

A _____ strategy attempts to force a retailer to sell the products to the customer; whereas a _____ strategy attempts to entice customers to demand the product from the retailer

push; pull

Profits earned by the company that are reinvested in the company are called what?

retained earnings

The ____ takes the cash balance from one year's balance sheet and compares it with the next while providing detail about how the firm used the cash

statement of cash flows

One of the characteristics of money, divisibility is _____

that it must be valued in terms of comparable units

Managerial accounting is about

using accounting information to plan and direct the organizations activities

_____ only uses a small number of available outlets, whereas _____ makes the product available to consumers with as many outlets as possible

Selective distribution; intensive distribution

Which orientation requires understanding what customers are looking for in a product?

A market orientation

Marketing managers may define a ____ as a small number of people within a larger market, or they may define it as the total market.

Target market

_____ decisions are the least flexible when it comes to marketing mix decisions

Distribution

Profits that are paid back to investors are called what?

Dividends

What is the independent agency of the federal government that regulates the nation's banking and financial industry that was established in 1913.

Federal Reserve Board

Which of the following is an example of demographics?

Gender

What are the four stages of the product life cycle (in chronological order):

Introduction, Growth, Maturity, Decline

Firms use _____ as a strategy to divide the total market into groups of people.

Market segmentation

_____ make products available to buyers when and where they desire to purchase them

Marketing channels

Which of these is NOT a way to segment a market?

Multigraphic

A large corporation that targets multiple, specific market segments is using a

Multisegment approach

is owned by their depositors and are similar to savings and loan associations

Mutual savings banks

_____ is an agency that regulates credit unions and insures their deposits

NCUA

Which of these is NOT a tool that the Federal government can use to regulate the money supply?

Offer loans to individuals

_____ includes the owner's contributions to the organization along with the income earned by the organization and retained to finance continued growth and development.

Owner's equity

Which form of promotion is the most flexible?

Personal selling

Which of these is NOT a piece of the promotional mix?

Pricing

Which of the following is NOT a marketing activity?

Producing

Which of the following is NOT a stage in developing new products?

Product distribution

What are the four marketing activities, known as the "marketing mix"?

Product, promotion, price, distribution

When a company offers an item for $19.99 instead of $20.00, this is known as what kind of pricing strategy?

Psychological pricing

A second major responsibility of the Fed is to

Regulate banking institutions that are members of the Federal Reserve System

Which of these is NOT an example of a non-banking financial institution?

Savings and loan assocations