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business culminating Flashcards | StudBud
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business culminating
business culminating
38 terms
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38 questions all about what we learnt in class
Flashcards
38 cards
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38
Answers
1
what is the goal on not for profit business'
give to people in need, with zero cost. employees are not payed either
give everyone free products because im a nice person
same as a normal business, make a profit.
help the community
2
how does a person move to the top of the hierarchy?
one must succesfully fulfill all previous levels before moving to the next
you go from top to bottom, not bottom to top
whats the point?
you can get to the top automatically, if you are smart enough
3
what does it mean "limit" on your credit card
it means theres unlimited amount of money on your card
it shows you how much you spent each month
it doesnt mean anything, spend it all
none of the above
4
movie theatres expenses are... the movies, food and drinks, bills
False
True
5
3 liabilities a business has are loans, mortgages and any type of debt
False
True
6
why is it good to research foreign business etiquette before hand?
so that you can learn their entire language before going there!
act like yourself so they can experience a real canadian person.
this shows you care, learn how they eat, dress and even speak is respectful
7
why is professional attire important?
it's not, wear whatever you want.
business etiquette, it shows you are respectful and that you care.
so you're always stylish, style is important.
8
an income statement shows the rvevenue your business has made over a year long period
False
True
9
what is the role of an HR department?
responsible for hiring, firing & training employees. help employee benefits
buying any products they need, handling money etc.
all of the above
deal with complaining employees
10
movie theatres forms of income are... tickets, food sales, advertisement
True
False
11
why are branding, logos and slogans all important to a business
its fun to do
it makes customers happy and laugh
it gives people something good to remember about your business
12
supply and demand is how much people want vs how much you have, equilibrium is when supply & demand balance out
False
True
13
the AIDA formula in order is... awareness, intent, desire, alphabet
False
True
14
if assets equal $175 000 and liabilities equal $50 000, what is the owners equity?
$225,000
$175,000
$125,000
$50,000
15
what is the purpose of a balance sheet
none of the above
this is used to show your work to life balance, and how you're handling it
a balance sheet shows you your business' financial position at any time.
16
how do you calculate net profit
gross profit minus operating expenses and taxes
you get the net profit as its own statement, you dont need to calculate
operating expenses and taxes plus gross profit
17
if owners equity equal $80 000 and liabilities equal $35 000, how much are the assets?
$115,000
$80,000
$35,000
$45,000
18
what is the diff between account receivable and accounts payable
there is no difference
none of the above
payable is the liabilities, recievable is what is expected from customers
recievable is the bills they get, payable is the money they pay it with
19
eCommerce is the action of buying or selling products exclusively online
False
True
20
business etiquette is the expectations of your behavior, clothing, manners etc when in a business setting
True
False
21
how to improve your credit score
make a plan, track your spending, make payments on time
spend all your money, fast!
avoid certain loans, manage your bank accounts
both red and blue
22
int. business Pro:cheap labour, unique locatation Con:tariffs, expensive returns
False
True
23
5 traits of an entrepreneur
bossy, motivated, bad work ethic, untrained
all of the above
work ethic, motivation, creativity, passion for their job, friendlyness
24
how can a company practice corporate social responability
all of the above
dont greenwash your business
make sure your business is environmentally friendly
set good rules of ethics
25
5 important skills an employer looks for when hiring
problem solving, team work, work ethic, leadership, communication skills
problem solving, team work, bad manners, leadership, communication skills
26
what is the difference between a need and a want?
cheese
an expensive bag is a need
food and water is a want, i dont need it to survive
a need is required to survive, a want makes you happy but isnt necessary
27
what is the primary goal of every business
be your own boss
have fun and make friends, who cares if i go bankrupt
make a profit, while having succesful business and good customers
get rich and famous
28
the 4 P's of marketing are... product, price, place, promotion
True
False
29
what are the 5 stages in Maslow's Hierarchy of needs in order (bottom to top)
physiological, esteem, safety, love and belonging, self actualization
self actualization, esteem, love and belonging, safety, physiological
physiological, safety, love and belonging, esteem, self actualization
none of the above
30
3 assets a business would have is, the location, food and their customers
False
True
31
liabilities are the profits a business makes off of their customers
False
True
32
the 5 sections of a resume are name, phone number, interests, facts and pictures
True
False
33
whats the most valuable/expensive resource a company has
the employees
all of their stocks they bought
their assets
their liabilities
34
what is a transferable skill?
something you can hold, thats why its called transferable
a skill you picked up at a past job, that could be useful in the future
35
5 strategies of promotion are, advertisement, celebrity using product in a video, personal selling, online ads
False
True
36
what is the difference between a trend and a fad?
a fad is super popular for super long, a trend dies down really fast
this is not relevant
they are the same thing
a trend is popular for a long time, a fad get popular fast and dies fast
37
what is the primary goal of marketing
generate revenue
to have fun
go bankrupt
make friends with the customers
38
if owners equity equal $80 000 and liabilities equal $35 000, how much are the assets?
$80,000
$45,000
$35,000
$115,000
