Business Final Review

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

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

An income statement usually covers

Goods and services sold to other countries are called

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

A major purpose of a budget is to

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

All of the following would be considered expenses EXCEPT

The most successful small business owners

A key difference between advertising and publicity is

Product costs + operating expenses + profit = 

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

Personal selling is usually done

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

Four elements of a marketing mix.

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

Additions and improvements to a basic product are considered

Employers must make matching contributions to 

Which of the following is NOT a long term asset?

All of the following are blue-collar workers EXCEPT

Total revenue - total expenses =

Signing a promissory note occurs when using

An example of a non-renewable resource would be

Location is important to small retail businesses because

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

The first step of the budgeting process is to 

Which of the following is a direct channel of distribution?

A payment for rent represents

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

The combined use of tactical and strategic management is known as

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

What are the 3 C's of credit?

Generic products are less expensive than other items because

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

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

The way a manager treats and involves employees is called

All leaders need to be dependable, which means that they

Small business have an advantage over big businesses when customers

if you start a new business you need information about

Savings accounts and a home are examples of

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

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

Which of these statements best describes preferred stock?

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

An operating budget is usually planned for

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

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

Human resources

Which of the following is investing for current income?

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

Which of the following constitutes fraud by a salesperson?

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

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

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

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

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

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

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

A code of ethics is designed to 

In simple terms what does a company own?

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

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

A business will make a profit if

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

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

The most important responsibility consumers have is to be

The value of collectibles is most influenced by

Comparison shoppers usually evaluate which of the following?

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

A typical characteristic of entrepreneurs is that they

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