Business Final Review

What type of tax is a common source of revenue for most state and local governments?

Four elements of a marketing mix.

An example of a non-renewable resource would be

A plan where employees receive regular compensation plus portion of company's earnings.

Generic products are less expensive than other items because

The most important responsibility consumers have is to be

The financial institution most likely to charge the highest rate for a loan would be a

In which of the following economic systems is the government's role greatest?

The first step of the budgeting process is to 

Product costs + operating expenses + profit = 

Which of the following is NOT generally a goal of a business budget?

The way a manager treats and involves employees is called

The phase of the business cycle in which unemployment is highest is

Sending work from one company to another company that can complete it at a lower cost is called

Location is important to small retail businesses because

A business will make a profit if

A payment for rent represents

Additions and improvements to a basic product are considered

Signing a promissory note occurs when using

John has 2 hours before his part-time job. Does he study for math or take a nap? He chooses nap

Which of the following is a direct channel of distribution?

The value of collectibles is most influenced by

A key difference between advertising and publicity is

A recently added new ingredient to a current product giving cleaning power is an example of

A limit a government puts on the quantity of a product exported/imported during a given period.

Small business have an advantage over big businesses when customers

All of the following would be considered expenses EXCEPT

All of the following is NOT a major responsibility of a company's human resource department?

What are the 3 C's of credit?

Personal selling is usually done

Large purchases (such as appliances and automobiles) are commonly bought using

Which of the following is investing for current income?

Comparison shoppers usually evaluate which of the following?

A major purpose of a budget is to

An operating budget is usually planned for

Due to an error in pricing a bar code what legal action is appropriate for those overcharged?

A reputation for paying bills on time relates to a person's 

if you start a new business you need information about

Which of these statements best describes preferred stock?

All leaders need to be dependable, which means that they

The form of ownership that gives one person sole control over all business decisions is the

Which of the following is one of the service-producing industries?

The major policy and financial decisions makers for a corporation are called

An income statement usually covers

The making, buying, and selling of goods and services within a country is called

Most valuable number to consider when comparing credit among various borrowing sources is the

Which of the following constitutes fraud by a salesperson?

Human resources

Which of the following is NOT a long term asset?

The final step in the financial decision-making process is to 

Type of financial record identifying amount of assets has decreased in value due to their age.

The combined use of tactical and strategic management is known as

All the following are part of the planning/staffing function of human resources EXCEPT

Which of the following is NOT a cultural/social factor that affects international business?

The most successful small business owners

What's the first document that must be completed when opening a checking account?

Savings accounts and a home are examples of

Which of the following would an economist most likely classify as a need?

A tax that government places on certain imported products is called a(n)

The person who reports on the value of a home is a(n)

In simple terms what does a company own?

Employers must make matching contributions to 

The first step in the consumer decision-making process is to

Which of the following isn't an important human relations skill needed by leaders and managers.

Total revenue - total expenses =

Difference between amount of money coming into a country and amount that goes out is called the

A typical characteristic of entrepreneurs is that they

All of the following are blue-collar workers EXCEPT

A code of ethics is designed to 

Goods and services sold to other countries are called

Which of the following scenarios will most likely result in comparatively low prices?