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26 Cards in this Set
- Front
- Back
Advertising and promotion expenses for an
ongoing business are: |
Variable costs.
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The process of investigating facts about a
specific market that could influence the potential success of the business is known as: |
Market research.
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Capital contributed by the owner(s) of a
business is: |
Equity.
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Under which form of business ownership
do owners have limited liability? |
Corporation
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Law firms and medical firms generally
choose which form of incorporation? |
Limited Liability Company
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The type of brand that is easily recognized
as a result of national advertising is: |
Manufacturer
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Clarence Birdseye pioneered the
development of packaged frozen foods in the 1920s. He is considered a/n: |
Entrepreneur.
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Which federal agency provides social and
economic statistics to small businesses? |
Department of Commerce
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The many stages that a product goes
through during its existence on the market are its: |
Product life cycle.
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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? |
$61.95
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In North Carolina, day care centers are
required to obtain licenses. This illustrates the government’s role as a: |
Regulator.
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A local agency which is a good resource for
agricultural businesses is the: |
County Extension Service
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Which is NOT a factor that affects start-up
costs? |
Number of customers who purchase
goods/services on opening day |
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Which is NOT a factor on an income
statement? |
Liabilities
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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: |
Provider of social programs.
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When many different product lines are
offered and the consumer has the convenience of "one- stop" shopping, this is referred to as a: |
Broad mix
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Product development and channels of
distribution are included in which section of the business plan? |
Operational plan
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The federal agency which provides
assistance and advice on how small businesses can increase revenues and profits is the: |
SBA.
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Which type of business can own assets and
borrow money without directly involving the people who own it, and, therefore, is more closely regulated by the government than other business organizations? |
Corporation
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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: |
Shopping good.
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The inability to interpret financial records
demonstrates a lack of: |
Competence of the entrepreneur
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The value of a life insurance policy on the
life of the business owner is which type of asset? |
Other
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Updating products to "new and improved"
or stocking products according to market demand represent which product/service selection consideration? |
Monitoring existing products
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Plans for future expansion of the business
are included in which section of the business plan? |
Growth plan
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Professional fees paid to an accountant or
attorney for occasional work would be which type of expense? |
Variable
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The proposed business organization,
including the form of business ownership, is included in which section of the business plan? |
Organizational plan
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