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BE Final Review
What is a budget?
Your home gas bill is an example of this expense
BE Final Review
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1
Your home gas bill is an example of this expense
wants
variable
supplies
fixed
2
What is a budget?
An estimate of income and expenditure for a period of time
A savings account
A type of fish
A checking account
3
Which side does Debit go on?
Left
Right
Down
Up
4
In a staff meeting the seriousness of an issue was conveyed in Managements voices. The speech element used was
tone
empathy
tempo
enunciation
5
When developing a product or service, a business must do all of the following
except
...
create a need for the product or service
keep records to satisfy government requirements
evaluate the demand for the product or service
obtain start-up and operating capital
6
When communicating, it's important that you
excessively sweat
use jargon
paraphrase often
cross your arms
7
Which is NOT one of the 5 Cs
character
culture
cash flow
collateral
8
A cost benefit analysis looks at
Cost per unit of the benefits
Costs and benefits in non-financial terms only
Costs and benefits in financial terms only
Costs and benefits in both financial and non-financial terms
9
Which accounting method recognizes revenue when the cash is received?
Accrual accounting
Credit accounting
Cash accounting
Debit accounting
10
What should you do first when someone gives you a set of written instructions to follow?
reference the instructions when you get stuck
comprehend what the instructions are telling you
read the instructions in their entirety
11
What is the main category a credit score calculator will look at when determining your credit score? (pie chart)
types of credit
new credit
length of credit history
payment history
12
An organized association of workers formed to protect their rights and interests
Industrial Sector
Labor Union
Union Army
Collectivity
13
What is the accounting equation?
Assets+Owner's Equity= Liabilities
Assets=Liabilities+Owner's Equity
Assets+Liabilities=Owner's Equity
Assets=Liabilities-Owner's Equity
14
Business is any commercial activity that seeks ______ .
Profit
retail
money
goods and services
15
The accrual basis of accounting records revenues when they are...
earned
collected
contracted
readily available for use
16
Define Scarcity
A limited amount of resources compared to prices.
Needs and wants outweigh the amount of resources available.
A social science dealing with people's needs and wants.
A fundamental problem in society.
17
Accrual means:
Cash now
Cash later
18
This type of communication is the most frequent and follows the chain of command.
grapevine
Diagonal Communication
vertical communication
Horizontal communication
19
A good credit score is
800-850
300-579
670-739
20
A variable expense...
Occurs regularly and never changes.
An expense that changes.
21
Creditors are required to inform consumers about ___ before offering them a credit product
the company's history
fees and penalties
their credit scores
the state of the economy
22
Prosperity or Boom, Recession, Depression, Recovery
Inflation & Deflation
Unemployment
Business Cycles
GDP
23
A trademark is.......
an image used to identify a product
a business
a drawing
something everybody owns
24
How can you boost your credit score?
Go over your credit limit.
Miss your payments.
Pay your bills on time.
Keep your balances low.
25
GDP
Gross Domestic Product
Gross Domestic Development
Grass Domestic Product
Gross domestic people
26
What is Direct Deposit?
Action of taking out money from an account.
Electronic transfer of a payment into your account.
Money borrowed
Failure to repay a loan.
27
examining the advantages and disadvantages of each alternative to arrive at a decision
opportunity cost
judgement
cost-benefit analysis
price
28
“You were patient & understanding when responding to customer concerns. Thank you for representing our company well."
Feedback
Pace
tone
empathy
29
Which closing is the most appropriate to use for a businessperson who is sending formal email correspondence
affectionately
greetings
Regards
THX
30
money received, especially on a regular basis
barter
income
goods
industry
31
Resources are items people use to make or get what they want or need
True
False
32
Credit is the ability of a customer to obtain goods or services [answer] payment.
before
after
33
WHAT DOES INTEGRITY MEAN?
BEHAVIOUR THAT IS RESPECTFUL AND CONSIDERATE OF OTHER PEOPLE
DECEITFULNESS SHOWN IN BEHAVIOUR OR CHARACTER.
EXPRESSING THE SPEAKER'S APPROVAL OF SOMEONE OR SOMETHING
THE QUALITY OF BEING HONEST AND HAVING STRONG MORAL PRINCIPLES
34
What is a Partnership defined as?
when each partner is personally liable for all the debts of the business
a business owned by a group of people and authorized by the state in which
a business owned by two or more people
top executives who are hired to manage the business
35
How can you build credit history?
Open a savings account and make regular deposits.
Open a checking account and don't bounce checks.
Establish a steady work record.
Pay bills promptly
36
Is listening active or passive?
active
passive
37
The assignment of different parts of a manufacturing process or task to different people in order to improve efficiency
division of labor
Diversification
Separation of skills
labor union
38
This give average people a share of large corporations
Black Tuesday
Stock Market
Tradeoff
Roth IRA
39
allocating resources($) with the expectation of generating a profit or income.
market
mortgage
investing
budget
40
what are royalties?
A percentage of actual sales
a percentage of union dues
A percentage of expected sales
A percentage of taxes
41
an agreement for a home buyer to borrow money from a lender
tradeoff
mortgage
sale
investment
42
GDP is...
taxes payed by citizens over a specific period of time.
how much a single business produces in a period of time.
value of goods and services produced in a country over time.
a country's unemployment rate over a period of time.
43
revenue and expenses recorded together, keeps them in same period
Cash accounting
accrual accounting
44
Example of a variable expense
The newest tv
Rent
Groceries
Snowboard
45
[answer] is language understood by one profession, but not always understood by others.
slang
Accents
jargon
communication
46
define opportunity cost
the benefits you could have received
the price of a good or service increases
a group of buyers and sellers
total satisfaction received from consuming a good service
47
When communicating, how much of your message is delivered non-verbally?
50%
60%
80%
70%
48
monetary or non-monetary gain
cost-benefit analysis
benefit
opportunity cost
debit
49
The process of identifying, recording, summarizing, and analyzing and entities financial transactions and reporting them
market analysis
intentional marketing
financial accounting
50
What might result if a business fails to maintain positive customer/client relations?
reduction in assets
decrease in sales
lowering of goals
loss of advertisers
51
A consumer is
a person who sells the product
a person who uses the goods or services
a person who develops the product
a person who markets the products
52
Marketing includes distribution, financing, marketing info management, pricing, product/serv. management, promo,selling
False
True
53
This person owns, operates, and accepts the risk of a new business venture.
An entrepreneur
A manager
A corporate CEO
A venturist
