Intro to Business Final Review

Question 1

A ____ is a record of credit history and financial behavior for a business or individual.

Accepted Answer

credit report

Question 2

A nonprofit financial institution that is privately owned and provides banking services for its members is called a ____

Accepted Answer

credit union

Question 3

The four Ps of marketing are product, price, place, and ____.

Accepted Answer

promotion

Question 4

The party extending credit is known as the ____.

Accepted Answer

creditor

Question 5

A(n) ____ is a savings account that requires a deposit of a fixed amount of money for a fixed period of time or term.

Accepted Answer

certificate of deposit

Question 6

A ____ credit card is one that can only be used only in the stores of the company that issued it.

Accepted Answer

proprietary

Question 7

A ____ is a picture, design, or graphic image that represents a brand.

Accepted Answer

logo

Question 8

An expense that can go up and down during the budget period is a(n) ____.

Accepted Answer

variable expense

Question 9

A prearranged amount of credit that is available for a business to use as needed is a ____.

Accepted Answer

line of credit

Question 10

The variety of products and services offered to customers by financial institutions are called ____.

Accepted Answer

banking products and services

Question 11

____ is a service offered by some banks in which money is immediately transferred from one person to another.

Accepted Answer

P2P payments

Question 12

A ____ is a numerical measure of a loan applicant’s creditworthiness at a particular point in time.

Accepted Answer

credit score

Question 13

A(n) ____ loan is a loan for a specific amount of money that is repaid with interest in regular payments.

Accepted Answer

installment

Question 14

A(n) ____ buying decision is when a consumer purchase made with no planning or research.

Accepted Answer

impulse

Question 15

An investment created by pooling the money of many people and investing it in a collection of securities is called a ___

Accepted Answer

mutual fund

Question 16

Applying communication skills that promote goodwill between a business and the public is called ____.

Accepted Answer

public relations

Question 17

The ____ represents the cost of a loan and is expressed as a percent of the amount borrowed.

Accepted Answer

interest rate

Question 18

Credit granted to individual consumers by a retail business is ____ credit.

Accepted Answer

consumer

Question 19

The coordination of marketing communications to achieve a specific goal is called a ____.

Accepted Answer

promotional campaign

Question 20

All the goods and services that a business sells is the ____.

Accepted Answer

product mix

Question 21

A ____ is an individual retirement account to which individuals contribute after-tax income.

Accepted Answer

Roth IRA

Question 22

A process used by individuals to manage limited income to meet personal unlimited needs and wants is called ____.

Accepted Answer

personal financial management

Question 23

Any organization that provides services related to money is a ____.

Accepted Answer

financial institution

Question 24

A ____ is an amount that is subtracted from adjusted gross income, which further reduces taxable income.

Accepted Answer

tax deduction

Question 25

Purchasing a financial product or valuable item with the goal of increasing wealth over time is called ____.

Accepted Answer

investing

Question 26

A strategy for using money to reach important goals and to advance financial security is called a(n) ____ plan.

Accepted Answer

savings

Question 27

An expense that is equal in amount each budget period is a(n) ____.

Accepted Answer

fixed expense

Question 28

Credit granted to a business by a financial institution or another company is ____ credit.

Accepted Answer

business

Question 29

____ is income received from employment or from self-employment.

Accepted Answer

Earned income

Question 30

A collection of securities and other assets a person owns is called a(n) ____.

Accepted Answer

investment portfolio

Question 31

A(n) ____ is a record of checks, ATM transactions, deposits, and charges on an account.

Accepted Answer

bank statement

Question 32

Promotion that focuses on a company rather than its products is called ____.

Accepted Answer

institutional promotion

Question 33

An amount that a taxpayer can claim for each person who is dependent on that person’s income is a(n)

Accepted Answer

exemption

Question 34

A(n) ____ is a signature on the back of a check.

Accepted Answer

endorsement

Intro to Business Final Review

Questions 34

Intro to Business Final Review

Questions 34