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25 Cards in this Set
- Front
- Back
The inability to interpret financial records demonstrates a lack of:
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Competence of the entrepreneur.
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The Electronics World conducts extensive training for all employees on their sales staff. This training relates to which component of the marketing mix?
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Promotion
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Why is the amount of tax due to the government calculated on the net income?
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Net income represents the true profit of the company.
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Net income is calculated by subtracting total expenses from:
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Gross profit.
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A federal agency that provides grants to cities for loans to private developers to help
improve impoverished areas is: |
HUD
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Of the major factors contributing to the success of a small business, which one is affected by the lack of working capital?
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Financing
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Under which form of business ownership do owners have limited liability?
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Corporation
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Advertising and promotion expenses for an ongoing business are:
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Variable costs.
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Each year the government spends millions of dollars on medical research. This is an example of the government’s role as a:
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Provider of social programs.
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A government agency that uses a commercial bank to make loans to businesses and then guarantees up to 90% of the loan if the business fails is the:
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SBA.
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Money invested in a business by private investors is:
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Equity funding.
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Ability and willingness to invest personally in a business venture satisfies the credit requirement for:
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Capital.
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Which is NOT a factor on an income statement?
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Liabilities
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Which appears on the income statement?
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Net profit
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The value of a life insurance policy on the life of the business owner is which type of asset?
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Other
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If the gross profit on sales is $574,000 and total expenses are $401,000, what is the net income?
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$173,000
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Which is NOT a financial tool that utilizes sales projections?
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Balance sheet
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Total current assets for Howard’s Hotdogs are $75,000. Total current liabilities are $32,000. What is the current ratio of assets to liabilities?
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$2.34 of current assets for every $1 of current liabilities
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Latoya’s total sales for this week were $1,239. Latoya’s manager set her quota for this week 5% higher. How much more will Latoya have to sell to meet her sales quota?
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$61.95
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Market position is:
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The perceived standing of a business in the minds of customers.
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Creating distribution centers to facilitate handling and controlling inventory is a:
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Place decision.
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Which is a basis for behavioral
segmentation? |
Rate of use
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Beth has been looking at many different stores trying to find exactly the right sofa for her new apartment. The sofa is an example of a/n:
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Shopping good.
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Which is a basis for demographic segmentation?
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Income
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Monitoring existing products and eliminating weak products are factors in:
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Product selection.
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