Into to Business Exam

The Federal Deposit Insurance Corporation (FDIC): 1. is an independent, quasi-public corporation 2. is backed by the full faith and credit of the United States government A. is backed by the full faith and credit of the United States government B. is accurately described by all of these C. insures deposits in commercial banks and thrift institutions up to a ceiling of $250,000 per account D. is an independent, quasi-public corporation

B. is accurately described by all of these

_____ is the action that people take in buying and using goods and services. Group of answer choices

Buyer behavior

The owner of Mercury Appraisal Company held a ribbon-cutting event when he opened his new business. He invited city dignitaries, representatives from all the news media, and anyone who might have need of his services to the event. The goal of his promotion was most likely to:

create awareness

Bo Riley pays his rent and utility bills each month by writing checks. Riley is using a _____ account

demand deposit

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

financial analysts

In 2006, the retail industry voted the Bike Gallery as one of the top 100 bicycle retailers in the United States. It recently purchased a truckload of Thule brand bike racks from the manufacturer. Until the Bike Gallery pays the bill, the purchase will be carried on Thule's books as a(n):

fixed liability

A bank is engaged in _____ when it accepts the farmer's deposit of $127,000, and then makes a business loan of $50,000 to a small business owner. Group of answer choices

intermediary banking

Which of the following is an example of a liability that might be owned by an antique mall?

money owed to utility companies

In August 2006, the manufacturer of Cross pens introduced the golden toned Verve pen as featured in the Stormbreaker film. In James Bond fashion, the Cross pen serves as one of the key gadgets in the film. The use of the Cross pen is an example

product placement

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

Federal Reserve banks must hold a certain portion of their deposits in reserve. This percentage is called the:

reserve requirement

Which of the following terms equals the total profits of a company minus all dividends (distributions of profits) to stockholders?

retained earnings

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

whether it takes title to the product

_____ 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

How do distribution channels improve product distribution?

Distribution channels reduce the number of transactions needed to get the product from the manufacturer to the consumer

Which of the following statements describes an advantage that personal selling has over other forms of promotion?

Personal selling is considerably more effective at creating a satisfied customer than other forms of promotion.

In general, when a business is engaged in environmental scanning, it looks at all of the following external forces that might affect it EXCEPT: political and legal forces demographic forces the economy technology suppliers

Suppliers

_____ are temporary investments of excess cash in bonds and stocks that can readily be converted into cash.

Marketable securities

According to the _____, a firm should first identify consumer needs and then produce the goods and services that will satisfy them.

Marketing concept

Which of the following calculations is a formal expression of the accounting equation?

assets = liabilities + owners' equity

The 7-member Dover family recently purchased a mini-van because the ads for a Plymouth Horizon showed that it could haul 8 or more people and still have room for books, bags, and sports equipment. Plymouth Horizon was using what form of segmentation with its advertising?

benefit

An accountant who has a bachelor's degree, passes a test prepared by the professional organization AICPA, and has a certain number of years of on-the-job training becomes a:

certified public accountant

Which of the following is NOT a step performed by the salesperson during the selling process? demonstrating the product following up on the sale handling objections conducting market research prospecting and qualifying

conducting market research

What are the two distinct markets toward which sales promotions can be targeted?

consumers and members of the marketing channel

The channels through which advertising is carried to prospective customers are advertising:

advertising media

John Sgromolo works for the 20th-largest accounting firm in the United States, but he's not an accountant. He works with hard drives and various other types of computer equipment strewn across several desks. Sgromolo, spends his days culling together bits and pieces of data people think they have erased from existence months, even years, before. His findings have been used in cyber-crime cases and murder investigations. Sgromolo engages in:

digital forensics

One of the major financial burdens for many companies is the need to provide and maintain funds to provide benefits needed by former employees. One of the ways that Delta Airline tried to avoid bankruptcy was by reducing the payout from this fund because returns on investments were not keeping pace with the number of retirees and their benefit demands. This example reflects a problem with:

pension funds

What do the United Way, the Sierra Club, the Girl Scouts of America, and the American Red Cross have in common? They all have a target market. They all engage in not-for-profit marketing. All of these statements describe ways in which the organizations are similar. They all have created a marketing mix They all engage in environmental scanning.

All of these statements describe ways in which the organizations are similar.

There are numerous office supplies manufacturers. U.S.-based Esselte concentrates on selling filing products and desktop products such as staplers and pen sets. Because the Esselte brand is recognized as an innovative leader in the development of filing products and desktop items, the company can be said to have a(n): Group of answer choices

differential competitive advantage

Vegetarians have the upper hand in Mumbai, India, where not eating meat is a centuries-old tradition. In a booming Indian economy, the vegetarians are outnumbering the meat-eaters in many metropolitan areas. In response to this growing vegetarianism (especially among the middle class), franchises like Pizza Hut have created 100 percent vegetarian menus. By eliminating all meat from pizzas, the Indian Pizza Huts have engaged in a _____ strategy.

place

Boulders, building trusses, and lead ingots would not make good mediums of exchange because they lack the key characteristic of:

portability

The _____ is the combination of advertising, personal selling, sales promotion, and public relations used to promote a product.

promotional mix

Ruth Hu recently inherited $200,000. She has invested the inherited money in real estate and government securities. Hu is using her money as a:

store of value

Topik is a product that is sprayed on thinning hair and makes the hair appear thicker. The manufacturer considers its potential market to be blue-collar workers who earn less than $30,000 per year, are divorced, and who like to think of themselves as weekend athletes. The manufacturer of Topik considers this group to be its:

target market

Cerner Corporation has created a(n) ______ that helps emergency room physicians make decisions about what kind of treatment to give their patients. The system contains the medical records of more than 400,000 people who received treatment at more than 200 different emergency rooms. By comparing inputted information about a patient with information stored in the system, doctors can get a diagnosis and suggestions as to possible treatments.

transaction processing system

When compared to the consumer market, the business-to-business market: is more geographically dispersed is accurately described by all of these. bases buying decision more on emotions than rational thought uses more direct channels of distribution is lower in volume

uses more direct channels of distribution

To ensure accuracy and consistency in the way financial information is reported, accountants follow rules known as:

generally accepted accounting principles

By helping to eliminate critical errors and allowing nonprofits to stay focused on their primary missions of improving communities throughout California, nonprofit information specialists play a critical role and have a significant impact on work in the nonprofit sector. The nonprofit information specialist is frequently the first resource that board members, staff, and volunteers of nonprofit organizations, as well as the general public, contact to find answers to their questions. Trained NIS (nonprofit information services) staff must understand nonprofit culture and terminology and know the experts in a field to be able to give questioners appropriate information, community resources, Web sites, or consultant referrals. NIS staff use _____ to improve productivity and foster innovation.

knowledge management

The United States Army retains a history of all equipment acquisition from approval of requirements through funding, authorizing, fielding, and maintenance to equipment retirement. This data would be kept in a(n):

data nugget

Which of the following statements about international banking is true?

International banking is a high-risk business.