Exam 1 BUSAD 250

Matrix structure

A structure in which employees are assigned to both a functional group and a project tea, simultaneously is called a(n) _______

Demand curve

A(n) _______ shows the relationship between the amount of product that buyers will purchase at various prices, all after factors being equal

Contribution margin

Sales - total variable costs =

Communism

The economic system that allows individuals the least degree of economic freedom is ______

Capital intensive

Businesses that need very large amounts of money, equipment, or other material resources in order to get stared are

Quick ratio

Which of the following ratios is used to measure a firm's short term liability?

Financial analysis

Which of the following refers to evaluating a company's performance and the economic implications of strategic decisions such as product pricing, employee benefits, and business acquisition?

Audit

Which of the following terms refers to a formal evaluation of the fairness and reliability of a client's financial statements?

Stakeholders

All groups affected by a company's activities are referred to as its

Capital

The money, equipment, and buildings that a business needs in order to produce goods and services are called

Span of management

The number of workers that a manager directly supervises is called the manager's _____

Net income

The profit earned or the loss incurred by a firm, determined by subtracting expenses and taxes from revenues us referred to as the

Recession

The term ______ is defined as having two consecutive quarters of decline in the country's gross domestic product

Cyclical

When demand for goods and services drops, businesses reduce production, thereby requiring fewer workers. The unemployment resulting because of this phenomenon is known as ________ unemployment

Debt-to-equity ratio

Which of the following is a leverage ratio?

Service business

A _____ creates values by performing activities that provide benefit to the customer

$195,000

A company has $20,000 in cash, $100,000 worth of land and other assets of $300,000. The firm has an outstanding loan of $200,000 and other liabilities adding up to $25,000. What is the owner's equity of the company?

Long term liability

A company issues $50,000 in bands to generate money for expanding its business. The money is an example of a(n)

Agile organization

A company whose structure, policies, and capabilities allow employees to respond quickly to customer need and changes in the business environment is tested as a(n)

Organization chart

A diagram that shows how employees and tasks are grouped and where the lines of communication and authority flow is called a(n)

Performing

According to Tuckman's model of team development, in the ______ stage of team development, members of the team are fully committed to the teams objectives and the team achieves its full potential in terms of task accomplishment

Core competencies

Are those activities in which a company excels and has the potential to create competitive advantages.

Functional

Grouping workers according to their similar skills resources use, and expertise is called ____ structure

Conflict can increase the involvement of team members and generate creative ideas for problem solving

How can conflict can be a positive experience for group members?

To determine creditworthiness

How do banks and suppliers use the accounting information generated by an organization?

Moral hazard

If individuals and companies believe they can pursue rewards without facing... that should be attached to those pursuits, they are more likely to engage in... and even unethical behavior. This situation is known as a(n)

Free-market system

In a _______, companies can decide what to produce, how to produce, whom to sell to, and at what price to sell

Business model

Is a framework of how a business intends to generate revenue

Chain of command

Is defined as a pathway for the flow of authority from one management level to the next

Professionalism

Is the quality of performing at a high level and conducting oneself with ..... and pride.

Economics

Is the study of how a society uses scare resources to produce and distribute goods

Pure competition

Occurs when no single firm is large enough to influence prices and distort the workings of the free market system

Opportunity cost

Of all alternatives not selected the one with the highest value represents the _______ of the action taken

Centralized organizations

Organizations that focus decision-making authority near the top of the chain of command are said to be ____

Fiscal

Policy involves changes in the government's revenues and expenditures to stimulate a slow economy or dampen a growing economy that is in danger overheating and causing inflation

Monetary

Policy involves increasing or decreasing interest rates to control the nation's money supply

Market environment

Refers to a company's target customers, the buying influences that shape the behavior of those customers, and competitors the market similar products to those customers.

Competitive advantage

Refers to some aspects of a product or company that makes it more appealing to target customers

Technological

The _____ environment refers to forces resulting from the practical application of science to innovations, products, and processes

Income statement

The _______ is a financial record that represents a company's revenues, expenses and profits over a given period of time

Balance sheet

The analyze a firm's financial strengths in terms of its overall assets and liabilities, which of the following reports is best suited to estimate this on a particular date?

Economic

The conditions that affect the cost and availability of goods, services and labor, and the behavior of buyers and sellers are BEST described as the _____ environment

Business cycle

The term ________ is used to characterize the fluctuations in an economy's rate of growth over a period of several years

Groupthink

Uniformity of thought that occurs when peer pressures cause individual team members, to withhold contrary or unpopular opinion is called

Posting critical comments regarding the employer in a personal blog

Which of the following activities is most likely to be considered unprofessional?

Disagreement are discussed in the interest of task accomplishments

Which of the following is a characteristic of effective teams?

It's formed to work on a specific activity with a completion point

Which of the following is a defining-characteristic of a task force?

Teams improve the ability, and responsiveness

Which of the following is an advantage of working in a team?

Lagging indicates

Which of the following is an indication of an economic change that has happened in the past?