What are the three (3) main types of credit?

revolving, installment, open account

What does SWOT stand for?

strength, weaknesses, opportunity, and threats

What is the definition of accounts payable?

money owed by a company to its creditors

What is the definition of accounts receivable?

money owed to a company by its debtors

Occupational Safety Health Administrators

What is a short-term goal?

a specific goal accomplished in less than a year

Which of the following activities would be a task for supervisory management?

supervise employees who carry out tasks determined by middle and top mgmt.

Which of the following is the definition of "channel of communication"?

the means by which a message is conveyed

What is a long-term goal?

a goal accomplished in more than one year

What are the Marketing P's?

Product, Price, Promotion, and Place

What are the five functions of management?

planning, organizing, staffing, leading, and controlling

What is a GANTT chart?

a chart shows you what has to be done (activities) and when (the schedule)

If the GDP in America is trending downward, what can we predict will happen to the unemployment rate?

the unemployment rate will rise

What is a good example of information utility?

the instructions on a product's packaging

What assets can be used as collateral to secure a loan?

houses, cars, stocks, bonds, cash

What are the four (4) types of management styles?

autocratic, bureaucratic, democratic, laissez-faire

What is a money market account?

a type of account that pays a higher interest rate than a savings account

What are the five (5) factors that affect your credit score?

payment history, credit utilization, credit length, credit mix, new credit

studbud

TSA Review 1

97 termsStudBud Administration236 plays

Imported from external platform

Flashcards97 cardsFPractice quizPHost liveL

Questions 97

Answers

1
Which two taxes are used to create FICA?
Federal and Social Security
Federal and State
Medicare and State
Social Security and Medicare
2
Which information is LEAST likely to be considered when formulating a project plan?
Timeline of the project
Personal financial statements
Risks involved to organize the project
Project budget
3
What is the ability of one trading nation to make a product at a lower opportunity cost than another nation known as?
Comparative advantage
Absolute advantage
The uneven distribution of production factors
Opportunity Cost
4
What are the three (3) main types of credit?
credit cards, home equity line of credit, personal loan
revolving, installment, open account
travel rewards, balance transfer, secured credit card
student loans, car loans, department credit cards
5
What does SWOT stand for?
shortness, wiliness, opportunity, and threats
strength, weakling, opposition, and treat
strength, weaknesses, opportunity, and threats
shelter, weaknesses, ordinary, and threats
6
What is the definition of accounts payable?
money owed by a company to its IRS
money owed by a company to its employees
money owed by a company to its customers
money owed by a company to its creditors
7
What is the definition of accounts receivable?
money owed to a company by its owners
money owed to a company by its debtors
money owed to a company by its vendors
money owed to a company by its suppliers
8
Which is NOT an example of a need?
Concert tickets
Money
Food
Shelter
9
Which type of management style asks for employee input?
Democratic style
Laissez-faire style
Autocratic style
Bureaucratic style
10
What is your income minus government taxes that are withheld?
a. gross income
a. taxable income
a. net income
a. nontaxable income
11
What does OSHA mean?
Occupational Sheet Heal Administrators
Ongoing Safe Home Administrators
Occupational Safety Health Administrators
Operational Sound Home Administrators
12
Where does the accounts receivable appear on the balance sheet?
Current liabilities
Net worth
Equity
Current assets
13
What type of leader is hands-off and does not make any important decisions?
authoritarian
delegative
support
laissez-faire
14
Which element should NOT be included in a marketing plan?
Strategic direction
Target consumers
Staffing chart
Product mix
15
What is the ownership of land including the buildings and resources located on the land?
Mutual Funds
Investments
Bonds
Real Estate
16
What does "CPI" stand for in terms of the United States economy?
Consumer Price Index
Customer Price Index
Customer Practice Index
Consumer Place Indirect
17
What is a short-term goal?
a goal accomplished in 2 years
a goal accomplished in 3 years
a goal accomplished in more than 5 years
a specific goal accomplished in less than a year
18
Which of the following activities would be a task for supervisory management?
supervise employees who carry out tasks determined by middle and top mgmt.
manage people and structure of the company
supervise managers
implements decisions of top management
19
Which of the following is the correct square footage for a room measuring 12’ x 10’?
144 square feet
100 square feet
132 square feet
120 square feet
20
Which of the following is the definition of "channel of communication"?
the means by which a message is conveyed
the means by which electronic communication is conveyed
the means by which verbal message is conveyed
the means by which non-verbal communication is conveyed
21
What is an investment that pools the money of many individual investors to buy a diversified portfolio of securities?
Real Estate
Bonds
Mutual Funds
Investments
22
What is a characteristic of an autocratic leader?
lets employees do whatever they think is best
asks for employees’ input
gives orders to employees
takes orders from employees
23
What type of business ownership is owned by two or more people?
Partnership
Entrepreneur
Sole Proprietorship
Corporation
24
What is a long-term goal?
a goal accomplished in one week
a goal accomplished the same day
a goal accomplished in a week
a goal accomplished in more than one year
25
1. What does B2C mean?
Business to consumer
Buying to consuming
Buying to customer
Business to commerce
26
According to the law of demand, what happens when the price for a good or service decreases?
Quantity demanded decreases
Quantity demanded increases
Supply decreases
Demand decreases
27
What is the gross pay for an employee who worked 80 hours at $10 per hour and pays $80 in taxes?
$780
$800
$720
$810
28
What are the Marketing P's?
Product, Performance, Promotion, and Paper
Product, Price, Promotion, and Particle
Product, Performance, Promotion, and Place
Product, Price, Promotion, and Place
29
Assets, liabilities, and owner's equity are three main parts of what financial document?
Owner's equity statement
Cash flow statement
Balance sheet
Income statement
30
Which of the following interview methods would be the best method for hiring an actor?
Audition
Telephone interview
Stress interview
One on one interview
31
Which management style takes control of a situation and very rarely listens to the people they are managing?
Pace setting manager
Participative manager
Coach style manager
Authoritative manager
32
What does it mean to deposit?
the amount of money you deposit in your account to begin saving
take money out of an account
money the bank pays you for leaving it in your savings account
add money into an account
33
What does intellectual property mean?
Youe own the good
You own the distribution
You own the product
You own the idea
34
What does the Bureau of Labor Statistics use to measure inflation?
CPI
GDP per capita
GDP
Unemployment rate
35
What are the five functions of management?
planning, organizing, staffing, selling, and controlling
planning, organizing, staffing, leading, and controlling
planning, staffing, leading, managing, and controlling
planning, staffing, leading, performing, and controlling
36
What is the impact of an ergonomic workplace on the productivity of the workforce?
Unmeasurable
Increases
No impact
Decreases
37
What is a GANTT chart?
a chart that shows how much money is spent on project
a chart shows you what has to be done (activities) and when (the schedule)
a chart that shows what skills needed and the time to use those skills
a chart to shows which supplies are needed and when
38
What does FICO mean?
Fair Income Criteria
Fair Isaac Corporation
Fair Inclusive cash
Fair Incentive Core
39
If the GDP in America is trending downward, what can we predict will happen to the unemployment rate?
the unemployment rate will stay the same
the unemployment rate will rise
the unemployment rate will rise and then fall
the unemployment rate will fall
40
Jim's total earnings are $1,479.00. If the Social Security tax rate is 6.2%, what is her Social Security tax deduction?
$1,485.20
$916.98
$62.70
$91.70
41
What do product, price, promotion, and place all contribute to?
Market strategy
Marketing mix
Market segmentation
Demographic
42
In which financial document would you record a loan of $100,000?
Income Statement
Profit Statement
Cash Flow Statement
Balance Sheet
43
In marketing terms, what is utility?
water, power, and trash
decreased value
relative value
added value
44
What is a good example of information utility?
the instructions on a product's packaging
the lecture hall of a major university
the origin story of a brand
the website of the Better Business Bureau
45
What business management structure has a "chain of command" where you report to the manager above you?
top-down management
horizonatal management
cross section management
vertical management
46
What assets can be used as collateral to secure a loan?
gifts, money market, business loans
checking, saving bond, cash on hand
houses, cars, stocks, bonds, cash
livestock, coins, 401K, IRA account, checks
47
What are the four (4) types of management styles?
autocorrect, bureaucracy, dictatorship, laissez-faire
autocratic, bureaucratic, democratic, free will
autocratic, bureaucratic, democratic, laissez-faire
parliamentary, dictatorship, democratic, laissez-faire
48
What is a money market account?
money you lose
an account with a financial institution
a type of account that pays a higher interest rate than a savings account
the amount of money you deposit in your account to begin saving
49
What are the five (5) factors that affect your credit score?
payment history, credit utilization, credit length, credit mix, new credit
pay check, using Credit cards, length of work, credit type, old credit
payment history, not using, short time of credit, single type of credit use
payment history, negative credit, length, credit mix, new and old credit
50
What is the market segmentation that groups customer by their digital footprint and customer loyalty?
Psychorgraphic
Geographic
Behavioral
Demographic
51
Setting a goal to raise $100,000 in donations for the fundraiser is an example of which component of the SMART goals?
Measurable
Realistic
Time-bound
Specific
52
What is inflation?
rise in the cost of goods and services over time
total return on an investment
the uncertainty regarding the outcome of a situation or event
return on investment expressed as a percentage of amount of money invested
53
What does it mean to make a withdrawal?
take money out of account
to double your money
to lose money
to give a gift
54
What is a financial goal?
a specific goal accomplished in 2 years
a specific objective to be accomplished by financial planning
a specific goal accomplished in less than a year
a specific goal accomplished in a week
55
What is standard of living?
the minimum necessities, comforts, or luxuries thought to be essential
overall state of being happy healthy, and prosperous
unnecessary but desired items which increase the quality of living
a necessity or an essential item required for life
56
What department is normally responsible for a company’s onboarding and getting new employees adjusted to the workplace?
Teamwork
Human Resources
Marketing
Finance
57
To have a commercial for your business is which P in the four P’s of marketing?
Price
Place
Product
Promotion
58
What is ergonomics?
quality, state or fact of being able to generate, create, bring forth goods
work-related musculoskeletal disorders
designing environments and products to match the individuals who use them
insurance providing wage replacement and medical benefits injured workers
59
What type of business ownership is owned by one person?
Corportation
Partnership
Sole Proprietorship
Entrepreneur
60
Which of the following is discrimination?
process of attracting appropriate applicants for an organization’s jobs
denial of opportunities to individuals on the basis of some characteristic
to hire you for good attitude
to give you a raise based on your evaluation
61
What is the financial statement that provides aggregate data regarding all cash inflows a company receives?
Income Statement
Profit Statement
Balance Sheet
Cash Flow Statement
62
Which of the following is NOT a factor of production?
Land
Capital
Production possibliites curves
Labor
63
Which of the following is NOT a type of interview?
Stress interview
One on one interview
Audition
Computer interview
64
What are some of the best ways to develop Market Share?
charge less than it costs you to make the product.
lower prices and create more brand awareness
come up with a new product
run negative ads about your competitors
65
What is the market segmentation that groups customers by city, state, zip code and other physical location variabl
Psychographic
Geographic
Behavorial
Demographic
66
Which statement best describes what ‘scarcity’ is?
limited wants with unlimited resources
unlimited wants with unlimited resources
limited wants with limited resources
unlimited wants with limited resources
67
Which statement BEST describes what surplus is?
limited wants with limited resources
limited wants with unlimited resources
unlimited wants with unlimited resources
unlimited wants with limited resources
68
What is the process of dividing a market of potential customers into groups?
Market split
Market segmentation
Market divide
Marketing
69
Which of the following best describes a “bond”?
a share or part ownership of a company
company's debt that you buy in the stock market and hope to make money
someone else's debt that is promised to be paid back plus interest
a debt promised to be paid back over time plus interest
70
What term is used to describe the amount of wages that an employee takes home or deposits in a bank account?
Gross pay
Net pay
Payment
Paycheck
71
What business management structure is more focused on skill and less on management hierarchy?
top-down management
vertical management
horizontal management
military management
72
Where does the accounts payable appear on the balance sheet?
Equity
Net worth
Current assets
Current liabilities
73
Which negative element does NOT impact credit history?
High credit balances
High debt to income ratio
Late payments
Limited savings
74
What does leading mean?
all the activities to hire and keep workers
influencing people to accomplish the goals of a business
the team of people who make decisions for the business
goals and strategies that ensure a business’s survival, prosperity & growth
75
How does possession utility affect the buying decision?
it allows customers the opportunity to consider the purchase
it allows customers time to save for a future purchase
it allows customers the opportunity to convert possession to a third party
it allows a customer to take home a product now
76
What is interest?
an account that is saved for your child’s college
the amount of money you deposit in your account to begin saving
money the bank pays you for leaving it in your savings account
a type of account where you can only use half of your money
77
Which is the value of something that is given up to get something else that is wanted?
Trade-off
Opportunity Cost
Capital
Self-interest
78
What is the purpose of a PERT chart?
chart to provide information and forecast the tasks and timelines
An audio project management tool used track the failed tasks and timelines
graph for project management used to track errors and outlier for a project
visual project management tool used to map out and track tasks and timeline
79
Which leadership style is the exact opposite of an autocratic leadership style?
Democratic
Laissez-faire
Autocratic
Stategic
80
What type of financial document is also known as a “profit and loss statement”?
Balance Sheet
Profit Statement
Cash Flow Statement
Income Statement
81
What does “GDP” stand for in terms of economics?
Gross Domestic Problems
Gaining Direct Power
Gross Domestic Product
Gross Direct Products
82
What does SMART stand for?
Scouting, Measurable, Achievable, Reliable, Timely
Scientific, Marketable, Attainable, Realistic, Timebound
Specific, Measurable, Attention, Rational, Timely
Specific, Measurable, Achievable, Realistic, Timebound
83
Which of the following are all examples of wants?
water, home, and sleep
water, food, and shelter
school, sleep, and water
candies, vacation, and gifts
84
Which program is a spreadsheet program used to create grids of text, numbers, and formulas?
PowerPoint
Excel
Outlook
Word
85
A number between 300-850 that depicts a consumer’s creditworthiness.
debit card
credit score
loan
credit card
86
What is principal?
the amount of money you deposit in your account to begin saving
take money out of account
to double your money
to lose money
87
Which of the following would involve paying tariffs?
Employing new workers
Enforcing construction contracts
Trading across borders
Registering real property
88
What term is used to describe the market segmentation that groups customers by age and gender?
Demographic
Behavioral
Psychographic
Geographic
89
What is the customer segmentation that focuses on habits, hobbies, interests, personalities, and lifestyle?
Behavioral
Demographic
Psychographic
Geographic
90
In which financial document would you record the money earned from selling 200 hotdogs?
Profit Statement
Balance Sheet
Cash Flow Statement
Income Statement
91
Which type of business ownership is the business owner 100% liable for paying any fines or debts the business incurs?
Corporation
Solde Proprietorship
Sole Proprietorhip & Partnership
Partnership
92
If you were to ask "How can I make it easier for customers to find my products?" what marketing mix element is this?
Product
Place
Promotion
Price
93
What is the correct order of steps in composing an effective email from a company to a vendor?
Open new email, complete heading information, construct message, send
Open new email, construct message, list email subject, send
New email, complete heading information, construct message, proofread, send
New email, add recipient address, list email subject, construct message
94
Which term is used to describe a person that organizes and operates a business and assumes the risks of the business?
Manager
Buyer
Employee
Entrepreneur
95
What type of manager is encouraging, helpful and works with their employees to reach their goal?
Participative manager
Coach style manager
Authoritative manager
Pace setting manager
96
What are forecasting and evaluating financial risk in a business an example of?
Legal evaluation
Financial forcasting
Financial Management
Risk Management
97
What kind of product is a product you can touch?
Tangible
Service
Intangible
Good

TSA Review 1 Flashcards | StudBud