Quiz Review 6/ Business - Introduction To Business

Data mining looks for previously unknown relationships among vast amounts of data.

In the context of pricing strategies,the _____ tries to increase traffic in retail stores by special sales on a limited number of products, and greater everyday prices on others.

3

Which of the following best describes the organization of a statement of cash flows?

4

Henry Ford found many practical applications of Frederick Taylor's scientific management principles

5

Describe how the law of large numbers relates to insurance companies.

The law of large numbers postulates that as a sample size grows, the mean of the sample will get closer to the mean of the total population. For an insurance company insuring a life against the possibility of death, the more people who are insured, the higher the probability that the actual mean death rate will approximate the national mortality tables of life expectancy for men and women per age category.

The law of large numbers gives us an idea as to why insurance companies like to insure a large number of people. The larger the number of lives, houses, cars, boats, and so on that the companies insure, the more closely the claims from losses will be predictable based on a normal statistical distribution. This allows insurance companies to price policies for life insurance and casualty insurance appropriately so they have a predictable return on their assets.

6

The length of time you've held various credit accounts makes an impact on your individual Fair, Isaac and Company (FICO) score.

7

Srishti wants to start a restaurant of her own. As she does not have any savings, she approaches her bank for money and enters an agreement with the bank. According to the agreement, the bank agrees to lend her $5,000 upon request, provided it has sufficient funds to loan the amount. In this scenario, the type of funding obtained by Srishti can be regarded as a

8

To deter identity theft, the National Fraud Center wants financial institutions to

9

In addition to contributions from owners, firms can also raise long-term funds by:

10

___________ is how consumers define the product or brand relative to its competitors.

11

Stock certificates represent evidence of ownership in an organization. A stock certificate contains which of the following?

12

Bonnie Parker, COO of Economy Printing, has been unhappy with sales figures for the last two quarters, except for a slight upturn the last two weeks of the second quarter

in Business

As a result, she laid off the sales manager and now has everyone in the sales department reporting directly to her. She immediately instituted a sales quota for all salespersons and placed them on a commission-only compensation package. Now the upturn has been reversed and sales are again falling. In addition, other areas in Parker's area of responsibility are suffering for lack of attention. Which of the following conclusions is most strongly supported by the statements above?
A) Parker is unfamiliar with the printing business.
B) Parker has too many departments reporting to her.
C) Parker is giving her employees negative attention.
D) Parker's employees respond positively to strong-arm management.
E) Parker's employees are all incompetent salespeople.

13

Which of the following are groups of small investors seeking to make profits on companies with rapid growth potential?

14

For partnerships to be legal, they must be established in writing.

15

The ____ is an award given by the president of the United States to organizations that apply and are judged to be outstanding in specific managerial tasks.

16

Eli Whitney's cotton gin was a determining factor in the agricultural economy in the 19th century.

17

At which stage in the marketing process do concept testing and test marketing come into play?

18

Provide an example of macroeconomic factors' influence the international.

Answer: The international business of a country is affected by both the micro as well as macroeconomic factors. The major microeconomic factors are related with the demand and the supply of goods, which includes the price of a good, consumer's preferences etc.

The macroeconomic factors affecting the international businness includes the exchange rate of the country, the interest rates, tax and other levies, recession or depression etc.

The exchange rate of a country's currency is the rate at which one country's currency is exchanged for another country's currency ie. the value or price of a country's currency in terms of a foreign currency.the exchange rate placed a major influence on the international business.When the rate of exchange is low, the demand for exchange tends to be high because there will be high propensity to imp

19

Alexa's First Job Alexa has just earned her undergraduate degree in accounting and has successfully completed the CPA exam. She recently interviewed with a relatively small and new company and was offered a job. The offer sounded very promising; the job had opportunities to grow with the company and provided diverse challenges. Alexa accepted the job. Once Alexa started working, she realized that the owners and employees did not have a general understanding of accounting. She had to teach them the steps in an accounting cycle so they would be able to understand how she was going to create reports. When she talked about the statement of financial position, they had no idea what she was talking about. She was the qualified individual responsible for accounting. No one else working

20

Which option is being utilized when the insurer accumulates dividends at interest and then uses the accumulated dividends, plus interest, and the policy cash value to pay the policy up early?

21

To calculate the rate of return on an investment,

22

A snack food firm has one division for the United States, one for Europe, and another for Asia. How is this firm departmentalized?

23

A patient in ICU is on TPN solution (25% CHO, 5% AA) at 85 cc/hr with 10% lipids QOD. The patient information includes: ht: 5'10", wt: 185# (84kg), 67 years old male. Calculate the glucose utilization rate for this nutrition support regimen.

24

On an income statement, revenue less cost of goods sold (COGS) equals:

25

A ________ budget identifies the money a new company will need to spend to launch operations

26

Martha set up a budget and realizes she needs to reduce some of her spending to improve her savings. Each of the following options would be fine for this EXCEPT what?

27

Which of the following is a difference between common stockholders and preferred stockholders?

28

What explains why property casualty insurance is sometimes called property and liability insurance?

29

Which of the following provisions specifies how long a policyowner's health coverage will remain in effect if the policyowner does not pay the premium when it is due?

30

Nancy Malone works for a California-based computer manufacturer. According to Nancy, the time required to develop a new product has decreased because of the increased use of ____ software

31

"I see an opportunity for my employer" is something that a(n) ________ would say.

32

A computer-based system for continually gathering internal and external information is called

33

The City of Lawtown filed suit against certain gun manufacturers for financial payments to cover the costs of police work and medical care as a result of gun violence. This suit was based on the legal principle of

34

All of the following are true of Article II of the Uniform Commercial Code EXCEPT it

35

Compare and contrast the efficient market school and the inefficient market school of exchange rate forecasting.

A company's need to predict future exchange rate variations raises the issue of whether it is worthwhile for the company to invest in exchange rate forecasting services to aid decision making. Two schools of thought address this issue. The efficient market school argues that forward exchange rates do the best possible job of forecasting future spot exchange rates, and, therefore, investing in forecasting services would be a waste of money. The other school of thought, the inefficient market school, argues that companies can improve the foreign exchange market's estimate of future exchange rates (as contained in the forward rate) by investing in forecasting services. In other words, this school of thought does not believe the forward exchange rates are the best possible predictors of future spot exchange rates.

36

The most direct channel for consumer products is from producer to retailer to consumer.

37

A branding strategy in which a firm uses a different brand for each of its products is called ____ branding

38

Which of the following, if true, strengthens the case for Nina running the business as a sole proprietorship?

39

The executive director of Big Deals Inc. wants to implement a new information system in the accounting department to increase the company's effectiveness

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Quiz Review 6/ Business - Introduction To Business

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