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BA 101 Midterm 1 UO Flashcards | StudBud
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BA 101 Midterm 1 UO
Management Skills don't Include
How many SCUs are required to produce one Mountain Bike?
BA 101 Midterm 1 UO
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Answers
1
How many SCUs are required to produce one Mountain Bike?
.5
.25
2
.2
2
Management Skills don't Include
Technical
Human Relations
Data Input
Conceptual
3
Leaders must not
Stress accountability and responsibility
Communicate a vision
Establish corporate values
Reject Change
4
NOT a requirements for competition of business
Freedom of choice
Private property
Right to keep profits
Right to Monopolize
5
Joint Venture Benefits
Share marketing and management expertise
Get entry into markets that require goods locally produced
Share technology and risk
Cowboys Suck
6
Items that can or will be converted into cash within one year
Fixed assets
Tangible assets
Intangible assets
Current assets
7
Consists of monthly statistics that measure the pace of inflation or deflation
National Debt
Consumer price index
Monetary Policy
Fiscal Policy
8
Reviewing and evaluating the information used to prepare a company’s financial statements
Taxing
Reporting
Accounting
Auditing
9
Management of the money supply and interest rates by the federal reserve bank
Monetary Policy
Fiscal Policy
10
Legally binding contract of what the business owes to others
Liabilities
Balance Sheet
Owner’s equity
Assets
11
General managers and Divsional managers
Top Management
Middle management
Supervisory Management
12
Limits the number of products in certain categories a nation can import
Import Quota
Tariffs
Embargo
13
Someone with a good idea for a business sells others the rights to use the business name
Contract manufacturing
Licensing
Franchising
Dumping
14
What is the first step of the Accounting Cycle
Take a trial balance
Transfer (post) journal entries to ledger
Analyze source documents
Record transactions in journals
15
Which is a snapshot at a certain period of time? (Financial Statement)
Balance Sheet
Income statement
Statement of cash flows
16
What doesn't complete the sentence: Success in the market___
Is industrialized
Is institutionalized
Is institutionalized
Is imitated
17
The Best BA 101 Professor
Dave Dusseau
Dave Duseau
David Duseau
Dave Dussau
18
Often most successful leadership style
Free-Reign
Democratic
Autocratic
19
Assumes own culture is best and doesnt change for other countries
Cultural relativism
Naïve immoralist
Righteous moralist
20
Shareholder Value (SHV) is largely determined by what?
Marketing Mix
Retail Price
Profitability
Sales Volume
21
Is your MikesBikes company a Retail Company or a Manufacturing Company?
Retail Company
Manufacturing Company
22
Which is an area of management
Marketing
Finance
Production
Human Resources
23
Not a Characteristic of Culture
System of values and norms that prescribe correct behavior
Influences attitudes and behaviors of group member
Learned through membership
Doesn't Change over Time
24
Factors of production doesn't include
entrepreneurship
knowledge
capital
patent
25
What benefit does Corporate Branding have on your individual products?
Boosts the effectiveness of Internet Advertising
Boosts the Awareness Index for all of your products
Increases sales revenue from repeat customers
Boosts the PR Index for all of your products
26
Mission Statement doesn't address which of the following
Self-Concept
Philosophy
Financial Info
Customer needs
27
Profit Formula
Revenue-Loss
Revenue-Risk
Revenue-Income
Revenue-Expenses
28
Any activity that seeks to provide goods and services to others while operating at a profit.
Company
Business
Corporation
Dallas Cowboys Suck
29
What would cause you to have Closing Inventory in Stock from a previous year?
When you have Lost Sales
Your Sales Volume was > your competitor’s Sales Volume
Your Sales Forecast was > your Production Quantity decision
Your Production Quantity was > Actual Units Sold
30
Which is not part of the Management Process
Operating
Organizing
Financing
Controlling
31
What is the main goal in MikesBikes?
Launch new products into emerging markets
Generate more shareholder value than your competitor
Sell more products than your competitor
Create the largest marketing contribution in your industry
32
Large # of sellers produce very similar products that buyers nevertheless perceive different
Monopolistic competition
Perfect competition
Oligopoly
Monopoly
33
Total value of final goods and services produced in a country in a given year
Gross Profit
GDP
Total Income
GPA
34
Which index would we review the effectiveness of our Advertising decisions from last year?
PR Index
Quality Index
Awareness Index
Distribution Index
35
Least Risk for Foreign Investment
Licensing
Strategic Alliance
Franchising
Foreign Direct Investment (FDI)
36
Exists when there are many sellers in a market and none is large enough to dictate the price
Perfect competition
Monopoly
Monopolistic competition
Oligopoly
37
Which is not part of the accounting system
Analyzing
Inputs
Outputs
Processing
38
General rise in the prices of goods and services over time
Inflation
Deflation
39
Favorable balance of trade
Trade surplus
Free Trade
Trade deficit
Absolute advantage
40
What are the market segments described in
Tutorial Video 1: Overview of MikesBikes
?
Mountain, Road, Youth
Mountain, Racer, Hybrid
Mountain, Youth, Leisure
Mountain, Kids, Commuter
