Business Explorations - 2nd Semester Final Exam Review

Gross Income = $2,000;  Taxes = 20%; Net Income (Take-Home Pay) = __________

In budgeting, what would be your Net Income if your Gross Income was $1,000 at a 20% tax rate

I am the check endorsement that has the highest risk for someone else cashing it?

A result of when a business or person is unable to pay their bills.

Revenue = $100,000; COGS = $60,000; Operating Expenses = $35,000; Net Profit = _______

Term life insurance provides 

If your business issues bonds, you will have to make regular interest payments to the investors

In order for something to be insured you must have

Type of advertising that provides consumers data about their product (Ford Focus gets 30 mpg)

What expenses can be easily changed with lifestyle adjustments?

A loan that has a higher interest rate offered to low credit score consumers.

Net Income = $1,600; Fixed Exp. = $800; Variable Exp. = $700; how much money is left over?

Covers the cost to repair or replace YOUR car when you are at fault in an accident

If your company is showing a net loss, which of the following can a manager do?

Type of advertising recognized by a company name and logo (i.e. - McDonald's Golden Arches)

A person's payment history is reflected in their

Which one is a source of short-term credit?

Which is less expensive?

What would be considered DEBT financing?

I am a check that has been written but not yet cleared or processed by the bank for payment

Your insurance premium is based on your

A distribution outlet channel that sells products to the customer.

Anything that I own

If your monthly rent was to increase by $100 what adjustment would you make to your budget?

A product's sales peak during which stage of the product life cycle?

Dividing the market using a group's age, income and education level

Medicare insurance is for those who are

Dividing the market using a group's values, attitudes and interests.

Which account is considered a liability?

Which statement is considered a snapshot of all account balances and the accounting equation?

Which statement shows the sales, COGS, operating expenses and profit over a period of time?

Assets = $300,000; Liabilities = $200,000; What would the Owner's Equity be?

An news story about a company or product televised on TV or in an article online

The Marketing Mix contains the following elements:  Product, Price, Place and  ______

Which is a savings institution that is nonprofit, owned by its members sharing a similar bond.

Product life cycle stage where consumer awareness is very low and promotion expenses are high

The safest form of endorsement if you want to just deposit the check in your account

In 200/500/100 auto coverage, the 100 covers 

Who examines the data prepared by accountants and then makes recommendations to management?

The number of tax allowances is determined by the number of people

Using an ATM to withdraw cash from an out-of-network ATM will result in additional fees

Type of advertising that demonstrates a product is more superior to another product

A small group of people who meet and discuss their opinions about products

A pricing strategy in which a company prices products listed at 9.98, 19.99, 39.99.

Credit cards should be used for inexpensive purchases like groceries, gas and entertainment

Finding small but profitable market segments and designing custom-made products for them

A form used to tell your employer how much taxes you want withheld from your paycheck

You must complete and postmark your 1040EZ by _________________