Business Final

its warehouses

For which of the following assets would a wholesale company use depreciation?

agency

In a(n) _____ shop, the worker does not have to join the union but must pay dues to cover union expenses.

personal selling

In the newspaper comics, Cathy is often seen talking to a department store clerk who is trying to persuade her that she needs to buy a new wardrobe. The clerk is engaged in:

performance appraisals

Like many other companies, Robert Mondavi Winery uses _____ to systematically compare the actual performance of each employee with his or her expected performance.

management

Making sure that enough cash is on hand to pay bills as they come due and to meet unexpected expenses is called cash:

sales and profits

Of all forms of business ownership, corporations account for the largest share of both:

developing diversity management plans

One of the three basic functions performed by the Equal Employment Opportunity Commission is:

private organization that is responsible for establishing financial accounting standards in the United States

The Financial Accounting Standards Board (FASB) is a:

critical path method

The _____ is an important scheduling tool for large projects. It breaks the projects into a sequence of events and smaller tasks.

stakeholders

_____ are all the individuals or groups to whom a business has a responsibility.

credit terms

_____ are specific repayment conditions as to how long customers have to pay bills and the amount of cash discount allowed.

Empowerment

_____ contributes to an employee's self-worth, which, in turn increases productivity and reduces absenteeism.

ratio analysis

_____ involves calculating and interpreting financial ratios taken from the firm's financial statements in order to assess its condition and performance.

empowerment

_____ means giving employees increased autonomy and discretion to make decisions as well as control over the resources needed to make those decisions.

corporate culture

_____ refers to the core values and beliefs that support the mission and the business model of the firm and guide employee behavior.

common

_____ stock is a security that represents an ownership interest in a corporation and has voting rights.

home shopping network

Which of the following is an example of non-store retailing.

formation of the partnership is simple

Which of the following statements about the partnership as a form of business ownership is true?

conglomerate

U.S. Lumber Company's purchase of EnviroPlastics, a manufacturer of plastic cutlery, is an example of a _____ merger.

is difficult to implement because it is hard to tell how one decision will impact a large number of people

Utilitarianism:

social responsibility

Wal-Mart has announced that it will only sell fresh and frozen fish that come from environmentally sound sources and bear the label of the Marine Stewardship Council. Wal-Mart's size gives it a unique opportunity to improve the fishing industry. This concern for _____ is one of many initiatives Wal-Mart is introducing to improve our enviroment.

Bike Shops, Sports Stores, & Department Stores

What are the three distribution channels all firms will use?

Mountain bikes: Road bikes: Kids bikes

What are the three market segments in this bicycle industry simulation?

Regulation FD

What is the name of the SEC regulation that requires public companies to share information with all investors at the same time?

conducting market research

Which of the following is NOT a step performed by the salesperson during the selling process?

unlimited liability

Which of the following is an example of a disadvantage associated with a partnership?

The employee reported to his supervisors that a co-worker had misappropriated company funds

Which of the following is an example of an ethical business activity?

sets major corporate goals and policies

A corporation's board of directors:

get discounts on the company's product or service

A firm's stockholders have the right to do all of the following EXCEPT:

economic

A homebuilder who disposes of asbestos shingles by burying them on his own property may please the home owner because it is a less expensive means of disposal but will be punished by various legal agencies if any become aware of his crime. At which stage of the social responsibility pyramid is the builder most likely operating?

convenience

A relatively inexpensive item that requires very little shopping effort is called a _____ product.

empowered its employees to help customers

A retailer that allowed its employees to handle a customer complaint without having to ask for permission or direction from management would have:

justice

Another factor influencing business ethics is _____, or what is fair according to prevailing standards of society.

2

Assume a company has inventory values at $50,000, its total current assets, including this inventory, total $90,000. Its total current liabilities total $20,000. Its quick ratio is:

outsourcing

Beyond all the publicity around a recent government audit about the lack of oversight by the Federal Aviation Administration (FAA) is another problem that has not received much publicity. Quality control is not being maintained when an airline engages a contractor to work on an engine, who in turn signs up a subcontractor to work on one part of the engine. This example represents a problem with:

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

Customer satisfaction:

net sales

Gross sales for Nevada Silver, a retailer of silver jewelry was $120,000 for the month of May. Sales discounts amounted to $18,000. There were no returns. The difference, $102,000, is Nevada Silver's:

referent

Hassan Nasrallah, the leader of Hizbullah: grew up very poor but very smart, and although he wears the robes of a minor Shiite cleric, he is a world-class politician. He has been called the most charismatic figure in the Muslim world. Nasrallah exerts _____ power over his followers.

5

How many "rollovers" will we do once in multi-player mode?

middle

Plant manager Peter Kwillen receives the master budget from divisional headquarters and breaks it down for the three shift managers. He coordinates with other plant managers and manages lower-level managers. Kwillen is a(n) _____ manager.

the manufacturer of plasma television screens

Point-of-sale (POS) terminals would NOT be helpful in which of the following businesses?

corporations have an enhanced ability to attract financing

Rebecca Siddoway own and operate Country Candies. Siddoway specializes in making rich, creamy toffees that she packages in attractive gift boxes and sells through the mail. What would be the advantage to Siddoway if she decides to incorporate her business?

participative

Steve Miller, group managing director of the Royal Dutch/Shell Group of Companies, uses what has been labeled as "grassroots leadership." He devotes more than 50 percent of his work time to getting input from the company's front-line employees. By listening to their suggestions, the company has increased its productivity and placed an emphasis on quality. His leadership style is:

corporate culture

The founder and current CEO of Whole Foods Markets wears cut-off jeans to work. He is a vegetarian, an outspoken proponent of green marketing, and a person who believes in eating organic food. His views and beliefs have shaped the _____ of the supermarket chain, and all employees are expected to agree with these tenets.

satisfies customer wants and needs legally and responsibly

The marketing concept:

maximize the value of the firm to its owners

The primary goal of the financial manager is to:

consensual leaders, democratic leaders, and consultative leaders

The three types of participative leaders are:

strategic giving

Kraft Foods Inc. joined with the National Latino Children's Institute to announce Salsa, Sabor y Salud - a first-of-its-kind healthy lifestyles educational program designed by Latinos for Latinos. The program was created by NLCI in partnership with Kraft to support Hispanic families, a population particularly at risk for obesity and accompanying health problems. Kraft donated $2 million to the program's startup. This donation is an example of:

legal

Laws have curtailed smoking, and as a result, the sale of cigarettes is down. Rather than fighting the law, the cigarette industry is looking for ways to take their business beyond cigarettes. Many experts believe that the cigarette producers have found a way around the law with the promotion and distribution of smokeless tobacco, which has shown consistent sales gains over the last decade. In terms of the social responsibility pyramid, at which level is the cigarette industry operating?

test marketing

Life Savers Gummies Fruit Splosions, liquid-filled gummies combined with a burst of real fruit juice, are a new product for The Wrigley Co.. Before marketing the product nationwide, Wrigley gave out samples of the candy at several rock concerts and then recorded consumers' feelings about the candy, its taste, and its name. In which stage of the new-product development process would this have happened?