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Duplicate of VEI 1st Semester Review Flashcards | StudBud
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Duplicate of VEI 1st Semester Review
Duplicate of VEI 1st Semester Review
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1
Which of the following is the MOST formal communication tool for business to business?
Phone Call
Email
Memo
Business Letter
2
In the VEI portal, where to you go to find basic info (contact info) for other firms?
Firm Directory
Wholesale Marketplace
vei.org
Just Google it
3
Which step of the sale would you most likely be fielding questions from the customer?
Needs Assessment
Closing the Sale
Handling Objections
Approach
4
This tax form is provided to all employees in January, best described as an earnings summary.
1040
W-2
1098
W-4
5
Which area of the VEI portal allows firms to purchase inventory for their goods sold?
Firm Directory
Does not exist
Firm Bank Account
Wholesale Marketplace
6
What step of the sale would the salesperson be likely to ask the customer questions?
Determining Needs
Closing the Sale
The Approach
Handling Objections
7
Which financial statement would show the company's revenues and expenses?
Income Statement
Onwer's Equity Statement
Cash Flow Statement
Balance Sheet
8
Speed Round....which of the following is NOT an SCN VEI firm?
Skyline Entertainment
Star City Sports
Awaken
Clever Contraptions
9
The lines of communication within your firm is represented graphically on the....
Org Chart
Ven Diagram
Break Even Analysis
Firm Directory
10
The money you have to spend after taxes...same as 'Net Pay'
Gross Income
Dispensable Income
Discretionary Income
Disposable Income
11
What form of business is considered it's own legal entity and therefore has less liability?
Sole Proprietor
None of the above
Partnership
Corporation
12
Which department is responsible for employee payroll and updating financial statements?
Sales
Accounting
Human Resources
Marketing
13
Activities involving promotion of products via advertisements and sales promos are done by...
Accounting
Marketing
Sales
HR
14
Which of the following concepts would you find in the Marketing section of a business plan?
Management Functions
Product Promotion
Income Statement
Executive Summary
15
Which tax form do you complete upon hire to state your tax withholding amount?
W-2
1098
1040
W-4
16
Which department would organize personnel files, keep a company calendar and help with benefits
Human Resources
Sales
Marketing
Accounting
17
The following equation describes....Sales - (COGS+expenses) = ?
Equity
Revenue
Expenses
Profit
18
Which VEI event involves promotion, personal selling, networking and invoice processing?
Marketing Plans
Elevator Pitch
B Plan Cometition
Trade Shows
19
Which of the following activities would NOT take place during an employee orientation?
Training
Handbook overview
Benefits Enrollment
Business Plan Writing
20
Which reflects the dollar amount of an employee's salary before taxes?
Tax Deductions
Gross Income
Disposable Income
Net Income