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
