buisness essentials

Which form of technology creates tangible prototypes and products?

3D printing

Which of the following financial reports provides estimates of when, where, and how much money will come into and out of a business next year:

cash flow statement

What type of accounting method would most likely be used by a small business owner who does not offer credit?

cash method

The overall purpose of accounting is to

control the finances of the business

Marketing links producers to

customers

Which of the following influences the process of determining price:

customers perception of value

The operations function consists mainly of activities that are performed on a __________ basis.

daily

Without marketing, producers and customers would be

disconnected from eachother

Which of the following is an example of one of a business's inputs:

employees

Selling shares in the company to raise money for a new venture is referred to as ___________ funding.

equity

n operations manager must determine the sequence materials will take through the production process. This activity is known as

routing

The process of keeping the financial records of a business is known as

accounting

Money the business owes is known as

accounts payable

Money owed to the business is known as

accounts receivable

What type of accounting method would most likely be used by a large business that has a large number of outstanding loans and customer charge accounts?

accural method

For an accounting system to be useful to the business, the accounting information it contains must be

accurate and up to date

Operations managers must work closely with managers and employees in

all other parts of the business

Which of the following presents the first three steps in the accounting cycle in the correct order:

analyze, journalize, and post

A creditor is most likely to examine a business's financial accounting records if the business is

applying for a bank loan

The cash conversion cycle should be

as short as possible

Which of the following categories of information are found on a balance sheet:

assets, liability, owners equity

The purpose of communicating with customers is to

attract customers interest

In the marketing concept, whose point of view matters most?

buyers

Marketing is described as creating

exchanges

When return on capital is positive, the company is

growing value

The money it takes to keep inventory in stock is called a __________ cost

holding

Which of the following items cannot be marketed:

hopefulness

What accounting record would summarize a business's profit or loss for a previous year?

income statement

The finance function ensures that the company's financial goals are

inline with organizational priorities

The administration of assets refers to decisions about

investments

overall, what does marketing allow us to do?

live our daily lives

Running out of inventory can result in

lost sales

Which of the following is not a main factor in a business's site selection decision:

media

Finance is the business function that involves managing

money

The finance function would definitely be involved in a decision regarding

new business projects and strategies

What provides the basis for all marketing goals and actions?

planning

Operations activities vary depending on a business's

product

The foundation of the operations function is

production planning

The goals of the finance function are to ensure profitability and

reduce risks

Marketing encourages people from different countries to __________ frequently

trade