Intro to Business Final Exam
________ is an accounting method in which revenue is recorded when payment is received and an expense is recorded when money is paid.
Cash basis
________ rate is the rate a bank charges its best loan customers.
Prime
Which of the following reflects the percentage of the labor force currently without work?
Unemployment rate
In a(n) ________, one company buys a controlling interest in the voting stock of another company.
acquisition
Break-even analysis is a method of ________.
calculating the minimum sales needed to cover all costs
The organized network that moves a product from the producer to the customer is known as the ________.
distribution channel
The point at which the demand and supply curves intersect—the point at which the quantity demanded and supplied are balanced is called the ________.
equilibrium point
Balanced scorecard is a method of ________.
monitoring a company's performance from multiple perspectives
A(n) ________ is a specific, short-range target to help reach a goal.
objective
Money serves as a ________ when it is used as a way of accumulating wealth until it is needed.
temporary store of value
"Do what's right, respect others, care for customers, and perform with excellence." This is likely to be an organization's ________ statement
values
________ is an agreement to use another company's brand on its products for a fee.
A license
Which of the following is a source of long-term debt financing?
Corporate bond
Which of the following is a characteristic feature of economic contraction?
Decreased consumer spending
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 acquisitions?
Financial analysis
What type of exposure to financial liability is there in a sole proprietorship?
Financial liability is unlimited and the owner's personal responsibility.
Who oversees the work of nonmanagerial employees?
First-line managers
Who are those responsible for investigating financial crimes?
Forensic accountants
Which of the following handles the initial public offerings of stocks and bonds?
Primary market
At the federal level, small businesses can apply for loans backed by the ________
Small Business Administration (SBA)
Which of the following tracks how much money a company has generated over time and where it went?
Statement of cash flows
What is the most essential role of middle managers?
Translating strategic goals into action
What is the advantage to opening a franchise instead of starting a business from the ground up?
You can work for yourself and have the advantages of being a part of an established organization.
Under ________ leadership, subordinates have little or no freedom to make decisions, deviate from plans, or provide contrary input.
autocratic
Margin trading occurs when a ________.
buyer borrows money from the broker to buy stock
Net sales - cost of goods sold = ________.
gross profit
The profit earned, or the loss incurred by a firm, determined by subtracting expenses and taxes from revenues, is referred to as the ________.
net income
Prototypes are ________.
preproduction samples of products
_______ refers to the resources or capabilities a company must have before it can start competing in a given market.
Barriers to entry
________ refers to the categorization of customers according to their relationship with products or response to product characteristics.
Behavioral segmentation
Which of the following combines the benefits of independent business ownership with the support of a large organization?
Buying a franchise
Which of the following is a key difference between depreciation and amortization?
Depreciation applies to tangible assets, whereas amortization applies to intangible assets.
________ skills are required to understand, motivate, and lead others effectively.
Interpersonal
________ is the process of influencing and motivating people to work willingly and effectively toward common goals.
Leading
________ consists of the four key elements of marketing strategy: product, price, distribution, and customer communication.
Marketing mix
Which leadership role is developed based on long-term relationships between senior and junior members of an organization?
Mentoring
________ are organizations, often not-for-profit, that lend smaller amounts of money to business owners who might not qualify for conventional bank loans.
Microlenders
Which of the following activities is most likely to be considered unprofessional?
Posting critical comments regarding the employer in a personal blog
What are long-term partnerships between companies to jointly develop or sell products or services?
Strategic alliances
A deep and prolonged recession is known as ________.
a depression
A ________ merger occurs when a parent company buys one or more companies in unrelated industries.
conglomerate
The ability to define and solve problems and form judgements about a situation is referred to as ________.
critical thinking
Microeconomics includes the study of ________.
economic behavior among consumers and businesses
The goal of GAAP is to ________.
enable outsiders to make confident analyses and comparisons
The positive, forward-thinking desire to create a profitable, sustainable business is called ________.
entrepreneurial spirit
Stock exchanges are organizations that ________.
facilitate the buying and selling of stock
An S corporation is allowed to have _______.
fewer than 100 investors
Research and development is carried out usually during the ________ stage of product development.
introductory
The Sarbanes-Oxley Act outlaws ________.
loans by corporations to their own executives
A(n) ________ is an unincorporated company owned by two or more people
partnership
Which of the following is an example of a current asset?
Accounts receivable
What makes a great team player and is often an indication of management skills?
Being able to make others more effective
Where can small business partners find help in making an existing company more attractive to investors?
Business incubators
________ help an entrepreneurial team develop an idea into a workable business model.
Business incubators
Which of the following requires less work and less risk because there is an established customer base?
Buying an existing business
What part of the market environment shapes the behavior of customers?
Buying influences
What key aspect of running a business includes the ability to offer valuable goods and services while contributing to society?
Corporate social responsibility
________ ratio is calculated by dividing current assets by current liabilities.
Current
________ is an arrangement in which a financial institution makes money available for use at any time after the loan has been approved.
Line of credit
What is a company faced with when it doesn't have enough cash to meet short term needs?
Liquidity crisis
Which of the following refers to a graphical representation of a brand?
Logo
In the money supply, what represents the cash held by the public and money deposited in checking accounts?
M1
What is corporate governance?
Policies, procedures, and systems used to oversee the organization
Co-branding is ________.
a partnership to closely link brand names for a single product
Cost-based pricing ________.
adds a markup to the cost of producing goods to determine selling price
With most bond issues, a corporation retains the right to pay off the bonds before maturity. Such bonds are called ________.
callable bonds
In a(n) ________, two companies create a new, third entity that then purchases the two original companies.
consolidation
A(n) ________ shows the relationship between the amount of product that buyers will purchase at various prices, all other factors being equal.
demand curve
The study of the statistical characteristics of a population is called ________.
demographics
A company that licenses elements of its business system to other companies is called a(n) ________.
franchisor
Private equity refers to ________.
ownership in a privately held company
________ is an accounting method in which revenue is recorded when a sale is made, and an expense is recorded when the company uses an asset to produce revenue.
Accrual basis
________ skills refer to technical skills in information gathering, data analysis, planning, organizing, and other aspects of managerial work
Administrative
A management accountant is likely to be responsible for which of the following activities?
Assessing the manufacturing costs of new products
Which of the following terms refers to a formal evaluation of the integrity and reliability of a company's financial statements?
Audit
Who is responsible for reviewing the long-term plans and major strategic decisions of an organization?
Board of directors
________ refers to using a successful brand name on new products in the hopes that the reputation of the existing product will help sales of the new product.
Brand extension
Which of the following is generated through management accounting rather than financial accounting?
Budget reports
If stock prices have been increasing over an extended period of time, what type of market is being experienced?
Bull market
How are taxes paid in a partnership?
By each partner based on their individual profit.
What must public accountants obtain before they are eligible to conduct a company's audit?
CPA licensing
Which is the highest-ranked officer of a corporation?
Chief executive officer
________ intelligence involves reasoning, problem solving, memorization, and other rational skills.
Cognitive
What type of leadership work to foster participative management within the organization, seeking input from anyone who can add insight to the decisions-making process?
Collaborative
________ is considered to be the most important and pervasive interpersonal skill that managers use.
Communication
________ refers to some aspect of a product or company that makes it more appealing to target customers.
Competitive advantage
________ skills refer to the ability to visualize organizations, systems, markets, and solution, and understanding the relationship of parts to the whole.
Conceptual
________ is the management function of keeping a company's activities on track toward previously established goals.
Controlling
________ are everyday individual goods and services that people buy frequently without much conscious planning.
Convenience products
________ can be exchanged at the investor's option for a certain number of shares of the corporation's common stock.
Convertible bonds
________ is the total cost of using various debt and equity sources.
Cost of capital
Which of the following is an example of a fixed cost?
Cost of insurance premiums
________ are not-for-profit, member-owned cooperatives that offer deposit accounts and lending services to consumers and small businesses.
Credit unions
________ is a combination of private and public financing, in which an entrepreneur invites people to fund a share of a new business venture or a new product.
Crowdfunding
________ are unsecured bonds, backed only by the corporation's promise to pay.
Debentures
Which of the following refers to the amount of a good or service that customers will buy at a given time at various prices?
Demand
________ is an accounting procedure for systematically spreading the cost of a tangible asset over its estimated useful life.
Depreciation
________ are contracts whose value is determined based on the value of some other entity such as stocks pools of debt or currencies.
Derivatives
________ is/are the study of how a society uses scarce resources to produce and distribute goods.
Economics
Which of the following gives employees the authority to make decisions that apply to their specific areas of work?
Employee empowerment
Which of the following activities would be a part of facilities management?
Ensuring that the office building adheres to safety standards
________ is/are led by innovation, initiative, and the willingness to take the risks in creating and operating businesses.
Entrepreneurship
Which of the following functions is typically performed by top managers of an organization?
Establishing the structure for the organization
Which of the following should be developed to present a concise overview of a business plan to investors?
Executive summary
A business plan indicates that investors will be able to sell their investment through a public stock offering, or participate in a buyback of the investors' interest. This is an example of which of the following elements of a business plan?
Exit strategy
________ verify the financial reports of public companies as required by law.
External auditors
The ________ is the federal agency responsible for protecting money in customer accounts and managing the transition of assets whenever a bank fails.
Federal Deposit Insurance Corporation
Who is responsible for ensuring franchisors disclose accurate relevant information to potential franchisees?
Federal Trade Commission (FTC)
Which of the following positions would be responsible for establishing the long-term financial goals of the company, investing funds, and raising capital?
Finance officer
The ________ oversees GAAP compliance in the United States.
Financial Accounting Standards Board (FASB)
Which of the following is a key difference between financial accounting and management accounting?
Financial accounting creates information for outsiders, whereas management accounting is for insiders.
________ refers to combining accounting and investigating skills to assist in legal and criminal matters.
Forensic accounting
What is the name of the small business owner who contracts to buy a franchise?
Franchisee
What is one major advantage of a small firm over a large firm?
Freedom to innovate and move quickly
_______ unemployment is the natural movement of workers into and out of jobs, such as when a person quits one job without first lining up a new job.
Frictional
Which of the following refers to people and their individual talents and capabilities?
Human resources
Why is inflation a concern for businesses and consumers?
Inflation affects the amount of goods and services you can buy for a given amount of money.
Which of the following verify the efforts of an organization's accounting department and look for ways to improve efficiency and cost-effectiveness?
Internal auditors
Which of the following is a component of a firm's working capital account?
Inventory
Which of the following is an example of a company's asset?
Inventory in the warehouse
Which of the following is an advantage of buying into a franchise system?
It comes with an established business system.
Preparing a business plan serves which of the following functions?
It helps persuade lenders and investors to finance the business. Your answer is correct.
Which of the following is a key advantage of operating a business as a sole proprietorship?
It is easy to establish and requires less paperwork than other structures.
Why is an innovative spirit harder to have in a larger company?
Large firms are more analytical and careful as they mature.
Which of the following is one of the negative aspects of holding a position on a board of directors?
Legal liability for the misdeeds of the company
________ is the technique of increasing the rate of return on an investment by financing it with borrowed funds.
Leveraging
_______ refers to a company's target customers, the buying influences that shape the behavior of those customers, and competitors that market similar products to those customers.
Market environment
In which section of the business plan do you explain your business and what you wish to accomplish?
Mission and objective
An HR specialist is most likely to be responsible for which of the following activities?
Motivate and train diverse workforces
Which of the following best describes the department where the company's products are made, or its service is performed?
Operations
In a SWOT analysis, which term is used to describe the possibility of generating new revenue through positive situations?
Opportunities
________ is the process of arranging resources to carry out an organization's plans, and is one of the major functions of managers.
Organizing
Which of the following is a quality that a successful entrepreneur is most likely to have?
Passion for a new product or idea
________ refers to designing a company's offerings and messages in a way so the company and their products occupy a particular place in the minds of target customers.
Positioning
Which of the following is a key difference between private corporations and public corporations?
Private corporations are owned by a few people, whereas public corporations can be owned by anyone who has the means to buy stake.
When considering a product-line extension, what is one of the risks that marketers need to consider carefully?
Product cannibalization
Which of the following is a key difference between product mix and product line?
Product mix includes all products from a single manufacturer, whereas product line contains a group of similar products from the manufacturer.
Which of the following is referred to as the bundle of value offered in a marketing exchange, for the purpose of satisfying a need or want?
Products
________ is the quality of performing at a high level and conducting oneself with purpose and pride.
Professionalism
________ is the term used to describe the difference between revenue and expenses.
Profit
________ is an element of the marketing mix that refers to a wide variety of persuasive techniques used by companies to communicate with their target markets and the general public.
Promotion
Which of the following authorizes management to vote on behalf of a shareholder in a corporation?
Proxy
________ occurs when no single firm is large enough to influence prices and distort the workings of the free-market system.
Pure competition
________ is a measure of how closely activities or outcomes conform to predetermined standards and customer expectations.
Quality
Which of the following ratio is considered to be a better indicator of a firm's ability to pay creditor because it leaves out inventories?
Quick ratio
________ is a term used to represent the effort of companies to create customer lifetime value while seeking long-term profitability and other goals.
Relationship marketing
________ activities are intended to identify new ideas and designs that have the potential to result in new goods and services.
Research and development
________ refers to sums of money (equal to a certain percentage of their deposits) that banks are legally required to keep on hand.
Reserves
________ is money that an organization brings in through the sale of its goods and services.
Revenue
In addition to receiving funding from the initial cost of a franchise purchase, how does a franchisor make money?
Royalties on a percentage of sales revenue
What is the difference between secured and unsecured loans?
Secured loans are backed by collateral.
Which of the following is a major advantage of equity financing through the sale of shares of ownership?
Selling shares of ownership has tremendous potential to fuel organizational growth.
________ are fairly important individual goods and services that people buy less frequently.
Shopping products
Which of the following pricing methods is characterized by charging a high price for a new product during the introductory stage and lowering the price later?
Skim pricing
How do small businesses help to support the needs of larger organizations?
Small businesses act as serving agents and suppliers to larger corporations
________ are particular brands that the buyer especially wants and will seek out regardless of location or price.
Specialty products
________ is comprised of individual stock exchanges and the over-the-counter market that facilitates the buying and selling of company stock.
Stock market
________ plans outline the firm's long-range (often two to five years) organizational goals and set a course of action the firm will pursue to reach its goals.
Strategic
________ refers to the quantities of a good or service that producers will provide on a particular date at various prices.
Supply
When extending a product to an overseas market, what type of governmental influences must be considered?
Tariffs and trade barriers
Which of the following skills refer to the ability and knowledge to perform the mechanics of a particular job?
Technical skills
________ is a product development stage in which a product is sold on a limited basis to gauge its market appeal.
Test marketing
Which of the following is characteristic of a country with a planned economic system?
The economy is largely controlled by the government and freedom of choice is limited in order to accomplish government goals.
Which of the following best describes a brand?
The identity that is encompassed in a product or company
Which of the following is a disadvantage for those with the entrepreneurial spirit when considering a franchise?
The lack of control over many decisions
How do the roles of top managers differ from middle managers?
The magnitude of the decisions being made
Why is starting a business as a sole proprietorship easier than starting as a corporation?
There are very few legal requirements as a sole proprietorship.
Which of the following is a disadvantage of a sole proprietorship?
They usually have fewer financial resources and fewer ways to get funds from lenders or investors.
How do banks and suppliers most often use the accounting information generated by an organization?
To determine creditworthiness
________ refer to brands that have been given legal protection so that their owners have exclusive rights to their use.
Trademarks
Which of the following is an example of a fixed asset?
Transportation equipment
________ is a method of setting prices based on customer perceptions of a product's worth.
Value-based pricing
On the management pyramid, who would be at the top?
Vice presidents
A vertical merger occurs when ________.
a company purchases a complementary company at a different stage or levels
The maturity stage of product life cycle is ________.
a stage where the market is saturated and sales begin to level off
The exchange of value between parties is referred to as ________.
a transaction
Public accountants are professionals who provide ________.
accounting services to businesses and individuals for a fee
A(n) ________ is a form of "group mentoring" in which you assemble a team of people with subject-area expertise or vital contacts to help review plans and decisions.
advisory board
In a general partnership, ________.
all partners have joint authority to make decisions
a company purchases a complementary company at a different stage or levels
an initial public offering (IPO)
In a sole proprietorship, the owner ________.
and the business are legally inseparable
Private individuals who put their own money into start-ups, with the goal of eventually selling their interest for a profit, are called ________.
angel investors
Capital structure is ________.
a firm's mix of debt and equity financing
Generating a(n) ________ indicates a company's financial position on a particular date.
balance sheet
The portion of the brand that can be spoken and can include words, letters, or number is referred to as the _______.
brand name
A ________ is a planning and control tool that reflects expected revenues, operating expenses, and cash receipts and outlays.
budget
The term ________ is used to characterize the fluctuations in an economy's rate of growth over a period of several years.
business cycles
A(n) ________ is a framework of how a business intends to generate revenue.
business model
The summary section of a business plan should include a(n) ________ which defines how it will generate revenue and produce a profit.
business model
Well-known examples of ________ include Taco Bell, Pizza Hut, The UPS Store, and Curves fitness centers.
business-format franchises
The money, equipment, and buildings that a business needs in order to produce goods and services are called ________.
capital
The ________ outlines expenditures for real estate, new facilities, major equipment, and other such investments.
capital budget
Businesses that need very large amounts of money, equipment, or other material resources in order to get started are ________ businesses.
capital-intensive
Because of the increasing importance of the field, most companies now employ ________ to oversee the development of IT strategies for the organization.
chief information officers
Transferring net revenue and expense account balances to retained earnings for the period is referred to as ________.
closing the books
An S corporation ________.
combines limited liability of a corporation with the federal taxation advantages of a partnership
When setting performance standards, benchmarking refers to ________.
comparing performance data with industry leaders
The ________ measures the rate of inflation by comparing changes in the prices of a representative basket of goods and services such as clothing, food, housing, and utilities.
consumer price index (CPI)
A(n) _________ is responsible for overseeing all accounting functions in a company, reports to the CFO or company president, and is the higher ranking accountant in a company.
controller
Total liabilities divided by total assets will yield the ________ ratio.
debt-to-assets
Choosing a candidate from several job applicants is an example of the ________ role of managers.
decisional
Demand curves typically slope downward. This implies that a(n) ________.
decrease in price will increase the quantity demanded
Because they fundamentally change the nature of an industry, ________ can be powerful enough to create or destroy entire companies.
disruptive technologies
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.
economic
A company strategy of providing fewer products and selling more of each of those products can lower production costs through ________.
economies of scale
Intrapreneurship refers to ________.
entrepreneurial efforts within a larger organization
The expected norms of behavior in a particular situation are referred to as ________.
etiquette
Independent accounting firms that provide auditing services for public companies are called ________.
external auditors
A company sells its accounts receivable to an intermediary. The intermediary collects the receivables from the customer. This is an example of ________.
factoring
Using a brand name on a variety of related products is known as ________.
family branding
Successful financial management starts with an outline of funds needed for a period of time, along with sources and intended uses of those funds, referred to as a(n) ________.
financial plan
Profits of sole proprietorships ________.
flow directly to the owners
Predicting when events will occur and their impact on the organization should be done through ________.
forecasting
In a ________, companies can decide what to produce, how to produce, whom to sell to, and at what price to sell.
free-market system
The _______ stage of the product life cycle is marked by a rapid increase in sales.
growth
A company that is highly leveraged is considered to have ________.
high debt
Activity ratios analyze ________.
how well a company is making use of its assets
The ________ function of a business involves the recruiting, hiring and support of its personnel.
human resources
The ________ is a financial record that represents a company's revenues, expenses, and profits over a given period of time, typically one year.
income statement
Managerial roles are grouped into three main categories: interpersonal, decisional, and ________.
informational
Most countries outside of the United States use ________ to standardize their accounting practices.
international financial reporting standards (IFRS)
Providing leadership to employees is an example of a(n) ________ role of management.
interpersonal
A disadvantage of the corporate structure is that it ________.
involves strict reporting requirements
According to the Small Business Administration, a small business is defined as a company that ________.
is any independent firm with fewer than 500 employees
A sole proprietorship ________.
is owned by only one person
A potentially significant disadvantage of a partnership is that _______
it has more potential for disagreement and conflict
The policies and practices of government bodies would shape the ________ environment for a business.
legal and regulatory
Joint ventures ________.
let companies create tightly integrated operations without disrupting the original companies
A ________ occurs when someone purchases a company's publicly-traded stock primarily by using borrowed funds, sometimes using the target company's assets as collateral for these loans.
leveraged buyout
A ________ is a partnership in which each partner has unrestricted accountability only for his or her own actions and at least some degree of responsibility for the partnership as a whole.
limited liability partnership
The ________ function of an organization coordinates the incoming flow of materials and the outgoing flow of finished products.
logistics
A loan that is paid back in installments over an extended period of time is an example of a ________.
long-term loan
Prime rate is the ________.
lowest rate of interest that banks charge for short-term loans
Grouping customers with similar characteristics, behaviors, and needs is known as ________.
market segmentation
Creating branding and advertising strategies to communicate with potential customers would fall under the ________ function of a business.
marketing
The _______ includes all other budgets to present a complete and comprehensive view of the company's financial position.
master budget
The ________ requires that expenses incurred in producing revenues be deducted from the revenue they generated during the same accounting period.
matching principle
In order to be effective, a business goal should be ________.
measurable
Money serves as a(n) ________ to simplify transactions because a buyer can trade it for a good or service.
medium of exchange
In a ________, two companies join to form a single entity either by pooling their resources or by one company purchasing the assets of the other.
merger
A(n) ________ is a brief declaration of why the organization exists and how it will conduct itself as it pursues its goals.
mission statement
The ________ economic system allows individuals to own and operate the majority of businesses with limited economic intervention by the government.
mixed
If individuals and companies believe they can pursue rewards without facing the risks that should be attached to those pursuits, they are more likely to engage in irresponsible and even unethical behavior. This situation is known as a(n) ________.
moral hazard
Bonds issued by cities and states to fund public projects are known as ________.
municipal bonds
Consumer ________ arise(s) from a gap between the consumer's actual state and their ideal state.
needs
An organization that seeks to operate efficiently and effectively to achieve its goals without focusing on profit as a motive is a ________.
nonprofit organization
When the number of competitors in a market is small, and competitors influence each other through production and pricing decisions, a situation known as ________ is created.
oligopoly
Short-term financing is financing that will typically be repaid within ________.
one year
A company can use a(n) ________ to identify all sources of revenue and coordinate the spending of those funds throughout the coming year.
operating budget
The value given up when a different opportunity was pursued is referred to as ________.
opportunity cost
Entrepreneurs often have a talent for inspiring others, and are driven by a(n) ________ to succeed.
passion
A callable bond allows the issuer to ________.
pay off the bond before maturity
The economic system that allows individuals the least degree of economic freedom is ________.
planned
Developing strategies, establishing goals and objectives for the organization, and translating those strategies and goals into action plans is part of the ________ function of management.
planning
With a ________, a targeted company invokes some move that makes it less valuable to the potential raider, with the hope of discouraging the takeover.
poison pill defense
The value captured from customers in exchange for the value offered in a product determines ________.
price
The sensitivity of consumer's to changes in the price of a product is reflected in ________.
price elasticity
During the final stage of development, large-scale production and distribution of the product begins the process of ________.
product launch
A ________ gives a franchisee the right to sell goods and services as part of a franchisor's distribution system
product-distribution franchise
A business plan is a written document that summarizes the ________.
proposed business venture, goals, and plans for achieving those goals
Asset allocation is performed to ________.
protect against significant declines in any one investment vehicle
Businesses use ________ to classify people by focusing on why they behave the way they do by examining such issues as brand preferences, media preferences, values, attitudes, self-concept, and opinions.
psychographics
The term ________ indicates two consecutive quarters of decline in the country's gross domestic product.
recession
Bookkeeping refers to ________.
recording the economic activities of the business
When a downward swing or recession is over, the economy enters into a period of ________.
recovery
In a publicly held corporation, the board of directors is ________.
representatives of the shareholders
Money used or needed to set up a new business is ________.
seed money
Expenses incurred through marketing and distributing a product are referred to as ________ expenses.
selling
Equity financing refers to arranging funding by ________.
selling ownership shares
All groups affected by a company's activities are referred to as its ________.
stakeholders
The criteria against which performance is measured are referred to as ________.
standards
Those positive internal factors that contribute to a company's success are referred to as ________.
strengths
Performing at a high level, and continuing to improve is an indication of ________ in one's pursuit of professionalism.
striving to excel
A corporation primarily or wholly owned by another company is known as a(n) ________.
subsidiary
The ________ depicts the relationship between prices and quantities that sellers will offer for sale, regardless of demand.
supply curve
The overall strategic plan of an organization might be supported by plans from functional areas, such as research and development, manufacturing, and marketing. The plans from these functional areas are called ________ plans.
tactical
The term ________ refers to forces resulting from the practical application of science to innovations, products, and processes.
technological environment
The maturity date is the date on which ________.
the debt must be repaid
Machine learning refers to _______.
the general capability of computers to learn
Accounts receivable refers to ________.
the money owed to a firm by its customers
Movement along the supply curve typically slopes upward because ________.
the quantity that the sellers are willing to supply rises with an increase in price
Corporate officers are the ________.
top executives who run a corporation
With the ________ tactic, a third company is invited to acquire a company that is in danger of being swallowed up in a hostile takeover.
white knight
A public corporation refers to a corporation ________
whose stock is sold to the general public
A company has the following assets: (1) Fixed assets worth $30,000 and (2) investments worth $6,000. The company's total liabilities amount to $25,000. What is the owners' equity of the company?
$11,000
