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25 Cards in this Set

  • Front
  • Back
The inability to interpret financial records demonstrates a lack of:
Competence of the entrepreneur.
The Electronics World conducts extensive training for all employees on their sales staff. This training relates to which component of the marketing mix?
Promotion
Why is the amount of tax due to the government calculated on the net income?
Net income represents the true profit of the company.
Net income is calculated by subtracting total expenses from:
Gross profit.
A federal agency that provides grants to cities for loans to private developers to help
improve impoverished areas is:
HUD
Of the major factors contributing to the success of a small business, which one is affected by the lack of working capital?
Financing
Under which form of business ownership do owners have limited liability?
Corporation
Advertising and promotion expenses for an ongoing business are:
Variable costs.
Each year the government spends millions of dollars on medical research. This is an example of the government’s role as a:
Provider of social programs.
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:
SBA.
Money invested in a business by private investors is:
Equity funding.
Ability and willingness to invest personally in a business venture satisfies the credit requirement for:
Capital.
Which is NOT a factor on an income statement?
Liabilities
Which appears on the income statement?
Net profit
The value of a life insurance policy on the life of the business owner is which type of asset?
Other
If the gross profit on sales is $574,000 and total expenses are $401,000, what is the net income?
$173,000
Which is NOT a financial tool that utilizes sales projections?
Balance sheet
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?
$2.34 of current assets for every $1 of current liabilities
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?
$61.95
Market position is:
The perceived standing of a business in the minds of customers.
Creating distribution centers to facilitate handling and controlling inventory is a:
Place decision.
Which is a basis for behavioral
segmentation?
Rate of use
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:
Shopping good.
Which is a basis for demographic segmentation?
Income
Monitoring existing products and eliminating weak products are factors in:
Product selection.