Exam Ch. 11-14

After all expenses have been subtracted from revenues on an income statement, the final figure or bottom line is called the _____ when it is a positive number.

net profit

A computer program that copies itself into other software and can spread to other computer systems is called:

a computer virus

Ennis Worth has a six-month loan for $7,500 that he used to refurbish the fishing boat he uses to earn his living. This loan is an example of:

a current liability

Which of the following statements about knowledge management is true?

None of the above statements about knowledge management is true.

Virtual private networks (VPNs):

connect two or more private networks using a public network

_____ are debts that are to be paid within twelve months.

current liabilities

The acceptable turnover ratio is:

different for each industry

_____ is the efficient management of the acquisition of raw materials to the factory and the movement of products from the producer to industrial users and consumers.

distribution

Companies are adopting enterprise portals because the portals:

do all of the above, (improve communications with customers, suppliers, dealers, and distributors. provide cost savings through the elimination of "information intermediaries", can be used to integrate disparate systems and multiple sets of information)

The ratio of net profit to the number of shares of common stock outstanding is called the:

earnings per share

Which of the following is NOT a typical task performed by a supply chain manager?

hiring packers and deliverers

A(n) _____ is an independent wholesaler who buys related product lines from many manufacturers and sells them to industrial users.

industrial distributer

Which type of information systems is used by both operational managers and middle managers?

information reporting system

A(n) _____ is an information system that uses information technology tools to improve communications throughout an organization.

office automation system

Current assets, such as marketable securities and inventory, usually are expected to be turned into cash within:

one year

_____ pricing is the strategy of increasing the price of a product so that consumers will perceive it being of higher value.

prestige

In which of the following industries are you most likely to find a broker?

real estate

Customer satisfaction:

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

_____ is a strategy that focuses on forging long-term partnerships with customers.

relationship marketing

Products that are bought after comparing price, suitability, quality, and style are called _____ products.

shopping

By limiting the number of times a person can use a type of software before registering as the authorized owner of that software, software firms are dealing with problems associated with:

software piracy

A retailer would separate children's clothing purchased from Carter's into various sizes and types of clothing, such as size 6 shirts, size 2T shorts, and size 4T sun dresses. This process is called:

sorting out

Which of the following is an example of in-store retailing?

the purchase of a bottle of Anna Pavlova perfume that is only available inside Saks Fifth Avenue stores (brick and mortar)

Advertising can be found:

tv, radio, in direct mail, billboards

The categories of heavy, moderate, and light users have to do with which type of segmentation?

volume

What is the primary difference between a merchant wholesaler and an agent?

weather it takes title to the product

A face-to-face sales presentation of a good or service to a prospective customer is called:

personal selling

How does unsolicited and unwanted e-mail pose a security risk to companies?

Viruses spread through e-mail attachments.

The _____ is the person who develops and implements a complete strategy and marketing program for a specific product or brand.

project manager

When Nike donated $25,000 to a low-income area to provide job training, it received free and positive _____ in the news media.

publicity

The Sarbanes-Oxley Act:

restricts the types of nonaudit services auditors can provide audit clients

In new-product development, _____ is the stage at which products that do not meet new-product goals are rejected.

screening

The two main types of operating expenses are:

selling and general and administrative

Which one of the following is a commonly used method for market segmentation?

all of the above (benefit, volume, geographic, psychographic

Which of the following is a step in the new-product development process?

all of the above (develop new-product ideas, create a marketing mix, test the new product, screen ideas)

A _____ product is a product for which consumers may search long and hard and for which they refuse to accept substitutes.

specialty

A(n) _____ is a service company that buys and maintains software on its servers and distributes it through high-speed networks to subscribers for a set period of time and a predetermined price.

application service provider

The _____ summarizes an organization's financial status at the end of an accounting period. (as of a specific point in time)

balance sheet

_____ occurs when no money is involved in the exchange of goods or services.

bartering

Collecting data over a period of time and then processing that data all at the same time is called _____ processing.

batch

In a transaction processing system the database can be updated in two ways. They are _____ processing.

batch and on-line

Which of the following is a consumer durable?

bedroom dresser

_____ is the system used to record a firm's financial transactions in a routine and clerical process.

bookkeeping

_____ has a group think of as many ways as possible to generate new-product ideas, vary a product, or solve a problem.

brainstorming

_____ is the breaking down of large shipments of similar merchandise into smaller, more usable quantities that can be sold to consumers and end users.

breaking bulk

A(n) _____ are go-betweens that bring buyers and sellers together.

broker

Business products are classified into two categories. Large, expensive items with long life spans are called _____ products, and; smaller, less expensive items with short life spans are called _____ products.

capital ; expense

In manufacturing, all costs directly related to production including raw materials, labor, and factory overhead are classified as:

cost of goods sold

_____ is the set of values, ideas, attitudes, and symbols created to shape human behavior.

culture

Which of the following is an example of a data security issue?

unauthorized access and use, software piracy, introduction of a computer virus, deliberate damage

_____ are distribution channel members that buy finished products from manufacturers and sell them to retailers.

wholesalers

A network that connects computers at different sites via telecommunications media is called a(n):

wide area network

Data warehouses may contain many _____, subsets of a data warehouse that each deal with a single area of data.

data marts

Which of the following is an example of a social factor that influences the consumer decision-making process?

family

On an income statement, expenses, such as professional salaries, utilities, office supplies, rent, and insurance, are called _____ expenses.

general and administrative

Office automation decisions are specifically designed to:

improve organizational communications

The two types of retailing are:

in-store and nonstore

A(n) _____ is a summary of what a company has earned and spent over a given period.

income statement

General Electric saves $1.6 billion per year by using its private corporate network that links its 340,000 employees. Another name for this network that operates behind a firewall is a(n):

intranet

Which of the following factors can be used to create an atmosphere in a store that sells sports memorabilia?

life-sized pictures of famous athletes mounted on the wall, bright lights, the rebroadcasting of famous sports events as background noise, store clerks dressed in referee uniforms

A network that connects computers at one site is called a(n):

local area network

The _____ is based on the five P's.

marketing mix

After all expenses have been subtracted from revenues on an income statement, the final figure or bottom line is called the _____ when it is a negative number.

net loss

A(n) _____ is a retail store that sells at prices 25 percent or more below traditional department store prices in spartan environments.

off-price retailer

Accounting provides a framework for looking at:

past performance, financial performances of different firms, current financial health, possible future performance

Accountants employed within organizations are called:

private accountants

The Financial Accounting Standards Board (FASB) is a:

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

Which of the following statements about the accounting profession is true?

Accountants are typically classified as private or public accountants.

Companies that use blogs in their promotions use them because they:

get real-time input from customers and prospects, can focus on specific marketing goals, create and maintain relationships, can have a dialogue with their clients and prospects

How does an executive information system (EIS) differ from a decision support system (DSS)?

EIS is customized for an individual executive, and DSS is not.

_____ are examples of wide area networks (WANs).

Extranets and intranets

Managerial accounting provides information that would probably be most beneficial to:

a middle manager of the company

_____ is any paid form of nonpersonal presentation by an identified sponsor.

advertising

A retail manager who wants to know how his store's sales would be affected if he reduces the number of different national brands the store carries would use what type of information system?

decision support system

Net sales:

deducts sales discount and returns and allowances from gross sales deducting sales discount and returns and allowances from gross sales

Which of the following is NOT an example of a promotional goal?

delivering the product

A basic form of market segmentation that uses such variables as age, education, and income is called:

demographic

Which of the following is NOT an element of the promotional mix?

distribution

_____ is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

marketing

The _____ is the belief that the firm should dedicate all of its planning, policies, operations, and efforts to the satisfaction of the customer.

marketing concept