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Unit 2 Review Flashcards | StudBud
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Unit 2 Review
Unit 2 Review
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Flashcards
40 cards
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Questions
40
Answers
1
The money received from the sale of goods or services is called;
Revenue
Net Income
Expenses
Liabilities
2
Ingredients and supplies are examples of ?
Raw materials
Capital
Natural resource
Inventory
3
This type of financial statement shows how much money a business has made.
both answer 2 & 3
Income Statement
Balance Sheet
Cash Flow Statement
4
Which of the following is a way that a business can increase productivity?
Capital Investment
Training
All the above
New inventory system
5
Which function of management involves motivating employees to achieve organizational goals?
Leading
Controlling
Planning
Organizing
6
Which of the following is a function of management?
Organizing
Leading
Planning
All the above
7
Which of the following makes up a brand?
Logo
All the above
Slogan
Name
8
Age, gender and family life cycle are examples of;
Psychographics
Market segmenting
Demographic variables
Characteristics
9
When employees are paid a fixed amount of money early, this is referred to as;
Bonus
Commission
Salary
Hourly pay
10
Which of the following sources of capital is most liquid?
Cash
Stocks
Bonds
Equipment
11
A form of compensation that gives employees an option to buy shares in the company.
Bonus
Stock Options
Royalty
Commission
12
Which of the following is the correct order of maturity?
accounts receivable, bank loan, mortgage
bank loan, mortgage, accounts payable
bank loan, accounts payable, mortgage
account payable, bank loan, mortgage
13
Complete the following; assets =
owner's equity- revenue
owner's equity - liabilities
liabilities + owner's equity
liabilities - owner's equity
14
"The quicker picker upper,: is an example of a;
Logo
Publicity
Trademark
Slogan
15
Which type of managers conduct market research?
Production
Purchasing
Marketing
Research and development
16
Having one function in a central location is called?
Departmentalization
Centralization
Outsourcing
Consolidation
17
Which of the following is not a factor of production?
Human Resources
Natural Resources
Labour
Management
18
Unpaid promotion is called
Referrals
Testimonials
Publicity
Advertising
19
Things of value that a person or business owns are called;
Net income
Assets
Liabilities
Revenue
20
Which management style involves a manager making all the decisions, with no employee input?
Autocratic
Laissez Faire
Democratic
The right one
21
Which of the following is not a category of natural resources?
Solar
Water
Agriculture
Fishing and Trapping
22
The percentage of the market that a company has.
Market segment
Market share
Percentile
Niche
23
Which function of management includes; budgeting and conducting performance appraisals?
Planning
Organizing
Leading
Controlling
24
A symbol associated with a company or product is called a;
Brand name
All the above
Logo
Slogan
25
Which type of manager negotiates with suppliers for supply and deliver of materials?
Production
Marketing
Purchasing
Finance
26
Which of the following are employability skills?
Teamwork
Personal Management
All the above
Academic
27
Which of the following is referred to as the maketing mix?
Product, price, place and promotion
Product, price, place and publicity
Product, price and channels of distribution
Product, price, place and advertising
28
The form for net income is;
Total assets - expenses
Expenses - owner's equity
Owner's equity - liabilities
Total revenue- total expenses
29
The owner's invest in a business is called;
Assets
Net worth
Revenue
Owner's equity
30
What type of marketing research involves a product being sold in a small area only?
Observation
Test market
Focus group
Survey
31
What type of marketing research involves a group of people sampling a product?
Test market
Focus group
Survey
Observation
32
Which of the following is a service a company might provide for laid off employees?
Outplacement counseling
Performance appraisal
Corrective interview
Outsourcing
33
Hiring another business to perform a job is know as;
Merging
Expanding
Outsourcing
Centralizing
34
What type of marketing research involves participants filling out a questionnaire?
Focus group
Test market
Survey
Observation
35
Which of the following is the correct order of liquidity?
cash, accounts payable, inventory, supplies
accounts receivable, equipment, inventory
asset, accounts receivable, supplies, equipment
cash, account receivable, supplies, inventory
36
Which type of management style involves employee being left alone to do their work?
Democratic
Laissez Faire
Autocratic
The right one
37
Which of the following is not a role of marketing?
Sales
Distribution
Research
Production
38
Which type of management style involves employees in the decision making process?
Laissez faire
Autocratic
The wrong one
Democratic
39
This function of management involves setting long term goals.
Planning
Leading
Controlling
Organizing
40
Accounts payable and bank loan are examples of;
Revenue
Expenses
Liabilities
Assets