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BA 101 Final Exam Review Flashcards | StudBud
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BA 101 Final Exam Review
BA 101 Final Exam Review
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1
_______________ involves dividing a market according to such variables as climate, region, and population density.
Regional market
Topographical market
Geographic segmentation
Land-based market
2
Which is the most common and riskiest option for starting a business?
Buying an existing business
Purchasing a franchise
Creating a joint venture
Starting from scratch
3
What document identifies the goals of your proposed business and explains how these goals will be achieved?
Business plan
Marketing plan
Business pitch
Marketing pitch
4
A manager with ____ skills has the ability to deal effectively with people inside and outside the organization.
Conceptual
Interpersonal
Functional
Diagnostic
5
What are the 4 P's included in the Marketing Mix?
Place, Partner, Promotion, Person
Product, People, Price, Promotion
Place, Price, Product, Promotion
Price, Product, Promotion, Person
6
A buyer who wants a product for personal use would be identified as which type of market?
Consumer
Demographic
Industrial
Geographic
7
A SWOT analysis focuses on all of the following for an organization EXCEPT:
Threats
Weaknesses
Objectives
Strengths
8
Which of the following is NOT an advantage of business ownership?
Lifestyle
Time commitment
Creative freedom
Independence
9
A corporation organized to provide a social, educational, religious, or other non-business service is known as a:
Merger
Quasi-government corporation
Authority
Not-for-profit corporation
10
This statement tells the user where cash came from (inflows) and where cash went (outflows):
Statement of Cash Flows
Income Statement
Statement of Equity
Balance Sheet
11
The business form that has the least amount of personal liability for owners is:
Limited partnership
Sole proprietor
Partnership
C-Corp
12
Market where numerous sellers sell a standardized product to many buyers and no individual seller can influence prices:
Perfect competition
Monopoly
Oligopoly
Monopolistic competition
13
The form of business organization that accounts for 82% of all sales revenues in the United States is the:
LLC
Sole proprietorship
Corporation
Partnership
14
Which parts of a SWOT analysis address the external environment?
Threats and Weaknesses
Strengths and Weaknesses
Threats and Opportunities
Strengths and Opportunities
15
Which distribution channel provides the least amount of profit margin on a per unit basis?
Selling through Wholesales
Selling through Retailers
Selling Directly to Consumers
There will be no difference in margin, only volume
16
Which of the following is NOT considered a functional area of business:
Finance
Marketing
Operations
Customers
17
What are the two ends of the continuum of economic systems?
Small GDP; Large GDP
Trade deficit; Trade surplus
Communism; Pure Competition
Goods-oriented; Service-oriented
18
Resources that a firm owns are called ________.
Owners' equity
Liabilities
Revenue
Assets
19
Debts owed by a business are called ________.
Assets
Equities
Liabilities
Expenses
20
A choice between competing and often conflicting options which do not satisfy all stakeholders is considered to be:
A conflict of interest
A decision considering the legalities of minimum choice and reflection
A choice of legal options
An ethical dilemma
21
Transformational leaders do all of the following EXCEPT:
Encourage people to approach problems from new perspectives
Mentor and develop subordinates
Exercise their authority based on their rank in the organization
Provide employees with challenging opportunities
22
Which of the following is not considered a psychological influence?
Learning
Motivation
Reference group
Personality
23
When an employee receives a percentage of their sales as their compensation, this is most closely associated with:
Commisions
Salary
Piecework
Bonus
24
The balance sheet is composed of ________.
Assets, expenses, and net income
Owners' equity, assets, and liabilities
Expenses, revenue, and net income
Revenue, expenses, and owners' equity
25
Unions use all of the following EXCEPT:
Lockout
Strike
Picketing
Boycotting
26
Unsecured debt is debt for which there is no _________________.
Collateral
Credit rating
Interest
Formal agreement
27
Which of the following, when tracked over time, is the best indicator of inflation?
Unemployment Rate
Equilibrium Price
Consumer Price Index (CPI)
Gross Domestic Product (GDP)
28
A tech is paid for the hours billed, versus the hours they are on the time clock. This is known as what type of pay?
Commisions
Salary
Bonus
Piecework
29
Which of these is NOT reported on an Income Statement?
Liabilities
Expenses
Costs of Goods Sold
Revenues
30
Toyota, Lexus, and Scion are examples of:
Retail branding
Private branding
Generic branding
Manufacturer branding