For financial managers to be socially responsible, it is necessary that they:

make long term commitment to the needs of the stakeholders

Type of software that is used broadly across large and small businesses

horizontal application software

offered service warehousing cars + delivering, but subtracted to another company (what is it?)

limited-service merchant wholesaler

What is true about channel intermediaries? Distribuors...

increase # of transactions goods flow from producer-consumer

With reference to the definition of value, lower customers are:

willing to pay more for product rather than switch

Everyday-low-pricing strategy to attract audiences w/ eclectic & higher-end upscale product

achieve long-term profitablilty through volume sales

The accounting equation is:

assets = liabilities + owner's equity

Benefit that cloud computing provides to individual users is that

allow store large files w/o taking up space on hard drives

Independent wholesalers fall into two categories:

marchant wholesalers and brokers

Word processing and spreadsheet software are examples of _____

horizontal application software

When working in purchasing dept, when making purchase, you are most likely to...

apply rational criteria to the buying decision

Which of the following statements is true of a business buyer?

business buyer bases purchases on specifications

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Business 198 Exam 2 Review

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Questions 126

Answers

1
For financial managers to be socially responsible, it is necessary that they:
focus soley on short term performances of the firm
make long term commitment to the needs of the stakeholders
focus on maximum utilization of human resources
allot 10% of company's profit to employee welfare
2
Providers of luxury goods, (establish one retail outlet in 1 area) are utilizing a ___ strategy
multichannel
exclusive
intensive
selective
3
Builds car, let customers choose color of interiors, touchscreen controls = what concept?
form utility
mass customization
idea marketing
green marketing
4
___ occurs when someone produces&distributes copyright protected work w/o permission from owner
identity theft
contract cheating
piracy
hacking
5
___ sells small range everyday products @ easy-to-access locations (long hours &quick checkout)
supercenters
specialty stores
supermarkets
convenience stores
6
Profit margin is the gap between cost and price of an item on a per-product basis
false
true
7
Supply chain begins with the _______ and ends with the final consumer
manufacturer
full-service wholesaler
suppliers of raw materials
producer
8
Walmart & Costco achieve long term profitablility through volume sales, using what strategy?
everyday-low pricing strategy
penetration pricing strategy
loss-leader pricing strategy
high/low pricing strategy
9
Which of the following types is most suitable for sponsoring a sports tournament?
place marketing
people marketing
event marketing
idea marketing
10
a network links computer resources using a wired or wireless connection
false
true
11
Company introduce new toy-want obtain dominant market, discourage competitors offering same
prestige pricing
penetration pricing
price leadership
everyday-low pricing
12
Advertisement of the annual blood donation (importance of blood donation) = _____ marketing
Place
Idea
People
Event
13
_____ satisfies cutomer needs by providing the right products in the right location
form utility
information utility
ownership utility
place utility
14
Type of software that is used broadly across large and small businesses
horizontal application software
vertical application software
operating system software
utility software
15
offered service warehousing cars + delivering, but subtracted to another company (what is it?)
broker
full-service merchant wholesaler
agent
limited-service merchant wholesaler
16
Network of orgs &activities needed to obtain materials & resources, produce goods &get to users
i-marketplace
data supply system
supply chain
material supply system
17
What is not one of the main source of funds for start up firms?
banks
friends
family
owner
18
What refers to the claim that stockholders have against their firm's assets?
liabilities
owners' equity
loans payable
explicit costs
19
What is true about channel intermediaries? Distribuors...
do not charge for adding value to products
make distribution channels more complex
add value in number of different ways
increase # of transactions goods flow from producer-consumer
20
Jack wants a certain motor but cannot find it, shoekeeper finds it for him (what utility?)
place
ownership
service
time
21
Congress passed the _______ of 2002 to combat widespread accounting malpractice
Securities Exchange Act
Sarbanes-Oxley Act
GAAP Act
FASB Act
22
Product price $10, variable cost per unit $5, fixed costs $10,000. Breakeven point?
3,000 units
3,500 units
2,000 units
2,500 units
23
With reference to the definition of value, lower customers are:
low-value consumers who are of opionion low cost=high value
more price senstive than customers who switch brands
not concerned about quality if price is the same
willing to pay more for product rather than switch
24
many business have been reluctant to embrace cloud computting, citing ________ concerns
security and reliability
competency and stability
precision and productivity
cost and efficiency
25
____ refers to marketing, buying, selling, and servicing of products over a network (internet)
enterprise content management
e-commerce
social commerce
media-based networking
26
Costs that result of firm's general operations & not explicitly tied to any specific cost objec
mediated costs
explicit costs
direct costs
indirect costs
27
First step involved in deducting costs from revenue iss to deduct costs of goods sold
true
false
28
Everyday-low-pricing strategy to attract audiences w/ eclectic & higher-end upscale product
achieve long-term profitablilty through volume sales
entice price-insensitive consumers to buy high
increase store traffic w/ special sales on limited products
attract majority of the market by offering low prices
29
The accounting equation is:
liabilities = assets + revenue
assets = liabilities - owner's equity
assets = liabilities + owner's equity
assets = liabilities + net income
30
Benefit that cloud computing provides to individual users is that
allows access their data from any computer w/o internet
works will even w/ low speed internet connections
allow communicate w/ friends in any part of world w/o intern
allow store large files w/o taking up space on hard drives
31
_______ distribution is the actual movement of products along a channel of distribution
physical
intensive
exclusive
selective
32
A(n) ______ takes legal possession of the goods to be distributed
merchant wholesaler
store retailer
agent
broker
33
Companies with rapidly growing sales do not experience cash flow problems
false
true
34
Independent wholesalers fall into two categories:
marchant wholesalers and brokers
single channel wholesalers and multichannel wholesalers
cash and carry wholesalers and credit-based wholesale
distributors and retailers
35
Word processing and spreadsheet software are examples of _____
horizontal application software
operating system software
utility software
vertical application software
36
___ - function ...creating, communicating, and delivering value&managing customer relationships
marketing
finance
production
operations
37
Which of the following is a disadvantage of participatory budgeting?
results in inadequate representation of issues
it can lead to budgetary slack
fails to motivate middle and first-line managers
fails to identify the resources needed to achieve goals
38
Travel agencies that advertise in magazines and on Internet are utilizing _______ segmentation
demographic
psychographic
product-use
behavioral
39
dollar received today is worth more than a dollar received in the future... what idea is this?
assumed value of money
time value of money
future value of money
present value of money
40
Research that involves interaction with subjects & offers researches advantage of securing info
intinctive research
uncontrolled research
observation research
survey research
41
Local 99 cent store (prices capped at 99 cents) is capitalizing a price strategy known as _____
odd
fair
convenient
cheap
42
When comparing prices, finds it most convenient to access the ______ for manufacturers
e-marketplace
business intelligence system
logistics database
cybermediary
43
_______ performs critical functions to operate a computer @ most basic level
distributive software
system software
CAD/CAM software
applications software
44
When working in purchasing dept, when making purchase, you are most likely to...
experience cognitive dissonance
use personal judgment while making buying decision
prefer products that are mass produced
apply rational criteria to the buying decision
45
A(n) ____links computer resources using either a wired or wireless connection.
tracker
operating system
graphical use interface
network
46
to make financial forecast, Bob needs debt, cost, profit statistics.. what is Bob?
financial manager
consumer advocate
creditor
government accountant
47
_____ method used to determine # of units a firm must sell @ specific price to cover all costs
ratio analysis
fixed-cost pricing
breakeven analysis
incremental analysis
48
Allows people to enter commands by clicking on icons on computer screen
extranet
graphical user interface
applications software
intranet
49
A company that is breaking even if making a profit.
true
false
50
Which of the following statements is true of a business buyer?
business buyer seeks generic goods at generic prices
busi buyer uses personal judgment to decision-making process
business buyer bases purchases on specifications
Business buyer lacks purchasing training
51
Return-on-equity: profitability ratio computed by dividing net income by total owners equity
false
true
52
Budget that shows appropriate budgeted levels costs for each level of sales is known as _______
liquid budget
median budget
static budget
flexible budget
53
Sell line of handbags, series of shops to sell products, each in different state, what is this?
k
exclusive distribution
k
k
54
____ aims to achieve long-term profitablility by sustaining a high sales volume
skimming pricing
marginal cost pricing
loss-leader pricing
everyday-low pricing
55
Due to intellectual property restrictions, unauthorized music sharing is considered _____
cybershopping
hacking
piracy
viral marketing
56
employees go out of their way to provide honest/helpful advice (pros&cons) - ____utility
ownership
time
information
place
57
What is a characteristic of customer loyalty? Loyal customers:
purchase a company's product again and again
are very judgmental about a company's mistakes
remain loyal to a brand themselves and do not recommend
more expensive to maintain than new customers
58
Operating budget documents include the cash budget and capital expenditure budget
false
true
59
Ownership utility satisfies wants by providing goods and services at a convenient place
maybe
true
idk
false
60
Observation research and survey research are the two broad categories of primary research.
True
False
61
Capital structure is the value of a firm's assets minus the accumulated depreciation
false
true
62
Many Web 2.0 sites rely on _____ to provide most of their content.
advertisers
users
programmers
hackers
63
According to Microsoft's criteria, 4&nrU3rrnr%qr# is a good example of a(n) _____
strong password
firewall
RFID identity tag
computer virus
64
__ brings together all of budgeting documents to provide unified plan for specifc budget period
implicit
contingency
master
dividend
65
___ accounts work for local, state, and federal agencies to ensure tax revenues are updated
government
management
forensic
public
66
one difference between B2C and B2B e-commerce is that... B2C transactions:
involve extensive negotiations compared to B2B
involve larger amounts of $$ to spend at one time
tend to be smaller when compared to B2B
involve extensive/careful research while B2B don't as much
67
Online TurboTax uses a(n) __ to take client through process of filing her/his tax return
expert system
data mine
extranet
database
68
____ are the physical components used to collect, input, process data, display, distribute info
hardware
intranet
software
extranet
69
Grocery stores and department stores often use high/low pricing.
true
false
70
Company accepts all credit cards & variety of payment methods - efforts to provide ____ utility
form
ownership
tracking
place
71
What is true of product-use-based B2B (business-to-business) market segmentation?This strategy:
involves segmenting market based on demographics
helpful 4 small/midsized companies -narrowing target markets
refers to dividing market based on benefits consumers
espacially common on an international basis
72
___ opinion is issued if auditor does not find any problems with how firm operates
adverse
corrective
quality
unqualified
73
Many firms develop a formal marketing plan to identify target audience and best mothod to reach
true
false
74
Cloud computing encourages collaboration among employees and business partners
true
false
75
What is true of the average collection period? Average collection period...
classified under leverage ratios
computed by dividing accounts payable by avg daily credit
larger the ratio the better
under 30 days are considered to be very strong
76
Applications software is software that functions to operate computer @ most basic level
false
true
77
Which of the following refers to the raw facts and figures that businesses collect?
chunks
data
code
information
78
Books, computer programs, video games, and movies are examples of _______
firewalls
applications software
intellectual property
system software
79
Ricardo wants to sell his bike on Craigslist, what form of e-commerce is he using?
consumer-to-consumer (C2C)
consumer-to-business (C2B)
business-to-business (B2B)
business-to-consumer (B2C)
80
_______ refers to how people act when buying products for their own personal consumption.
segmentation
consumer behavior
crowdsourcing
utility maximization
81
In recent years, many supply chains have begun using _____ to reduce employee theft.
radio frequency identification
business intelligence
expert systems
data mining
82
@ restaurant, customers promised will be served within 5 min of ordering: satisfying __ utility
time
comparative
form
selection
83
_______________ are all examples of malware
spam, spyware, and viruses
spam, phishing, and pharming
hacking, phishing, and spam
spyware, computer viruses, and worms
84
Access not only data from her firm but also other firms that compose conglomerate, what network
extranet
intranet
firewall
expert system
85
Financial capital refers to the funds a firm uses to acquire its assets and fund operations
true
false
86
Intellectual property refers to:
marketable products/services that result from creativity
secure banking site that store info and use for data mining
software that captures personal information
info that marketers collect to make better decisions
87
_____ uses hardware/software to create a barrier that prevents unwanted messages from entering
router
spyware
firewall
data mine
88
Companies with rapidly growing sales do not experience cash flow problems
true
false
89
Creating products tailored for individuals on a mass basis is referred to as:
mass distribution
niche marketing
personalized marketing
mass customization
90
Spam is a type of malware.
false
true
91
Marketers determine prices consumers will pay and then - desired margins to yield target costs
fixed-margin pricing
gap-determined pricing
cost-based pricing
demand-based pricing
92
_____ are costs that are incurred as the result of some specific cost object
implicit costs
fixed costs
direct costs
indirect costs
93
Company only sells golf-related foods, huge selection, dominant seller. Example of what?
specialty store
convenience store
supercenter
discount store
94
Business allowing payments & money transfer to be made through internet, example of ___
e-fund manager
expert system
decision support system
cybermediary
95
Some key users of an org's accounting info include managers, gov agencies, & stockholders
true
false
96
The main advantage of financial leverage in good times is that it:
reduces the firm's interest expense
reduces amount of risk the firm faces
magnifies the return on stockholders' investment
provides firm with more flexible financing
97
Habib uses Microsoft so he can write, edit, & prepare his papers. What product is he using?
application software
hardware
operating system software
utility program
98
Budgeted balance sheets are also known as ______ financial statements
per capita
prescriptive
empirical
pro forma
99
Producers use channel intermediaries to move products more efficiently and effectively
false
true
100
Financial ratio analysis involve computing ratios that compare accounts on financial statements
true
false
101
Ultimate legal authority to set and enforce accounting standards lies with the _____
SEC
FDA
IRS
CFTC
102
What takes into consideration marketing strategies for product, price, promotion & distribution
marketing mix
value chain
competitive mix
marketing environment
103
___ utility adds value by making it easier for customers to possess goods/services they purchas
service
ownership
form
time
104
What is true? Operating systems...
require users to type commands w/ precise syntax to do tasks
provides an interface that enables users to interact w/ comp
do not carry out any tasks that utility programs perform
is a synonym for applications software
105
Providing products, cashing checks, and delivering producsta are examples of ownership utility
true
false
106
Marketin concept = philosophy that makes ___ the central focus of an entire org now & in future
product differentiation
ownership utility
mass customization
customer satisfaction
107
As compared to a B2B, B2C markets:
have customers w/ larger amounts of $$ to spend @ one time
more likely to go for long-term supply chain relationships
have a greater numbers of customers
require more negotiations
108
Specific categories of limited-service wholesalers=drop shippers, cash/carry wholesalers
true
false
109
What best describes a heavily leveraged firm?
firm that has higher current assets than current liabilities
firm that relies heavily on debt
firm that relies heavily on equity
firm that has twice more equity than debt
110
____ utility provides customer satisfaction by converting inputs into finished products.
form
time
ownership
service
111
Decisions advertising, personal selling, sales promotion, public relations, etc. part of ______
promotion strategy
product strategy
demographic strategy
distribution strategy
112
Capital ______ is the process a firm uses to evaluate long-term investment proposals
accounting
structuring
forecasting
budgeting
113
Many businesses have been reluctant to embrace cloud computting, citing ____ concerns.
cost and efficiency
security and reliability
competency and stability
precision and productivity
114
iPod introduced, company used ___ w/ purpose max profitability& offer products @ premium price
skimming pricing
loss-leader pricing
everyday-low pricing
penetration pricing
115
Data become ______ when processed, organized, and presented in a useful way to a decision maker
information
values
knowledge
metadata
116
What element affects marketers on a day-to-day basis, more than any other element?
competitive element
technological element
economic element
cultural element
117
Difference between price of an item & cost of makin item on per-product basis (expressed as %)
profit margin
variable income
gross margin
net income
118
Accounts receivable is categorized as a(n) _______
current liability
immovable asset
depreciated asset
current asset
119
___ technology that stores info on a microchip & transmits it to a reader when its within range
Global positioning sysytem (GPS)
Computer-aided design (CAD)
Graphical user interface (GUI)
Radio frequency identification (RFID)
120
___ offers goods to customers who are too small to merit a sales call from the distributors rep
full-service merchant wholesalers
cash and carry wholesalers
truck jobbers
drop shippers
121
___ refers to programs that provide instructions to a computer so it can perform desired a task
extranet
hardware
broadband
software
122
___ involves hiring contractors to sell products in personal networks in return % of commission
direct selling
shotgun marketing
penetration pricing
multilevel marketing
123
Documents stored on World Wide Web are written & linked together using ______
decision support system (DDS)
computer-aided design (CAD)
Hypertext Markup Language (HTML)
expert systems (ES)
124
A common error marketers commit when trying ot generate customer satisfaction is:
focus on value rather than price
placing too much emphasis on marketing concept
develop relation with individual rather than whole
underpromising, setting customer expectations too low
125
A barcode scanner is an example of a(n) _____ component.
hardware
application software
network
system software
126
Skimming pricing effective pricing technique in highly competitive markets w/ similiar products
false
true

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