Cfa3

Front 1

The inability to interpret financial records
demonstrates a lack of:

Back 1

Competence of the entrepreneur.

Front 2

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?

Back 2

Corporation

Front 3

Advertising and promotion expenses for an
ongoing business are:

Back 3

Variable costs.

Front 4

Product development and channels of
distribution are included in which section
of the business plan?

Back 4

Operational plan

Front 5

Realizing that he cannot serve the entire
customer market in his community, Joshua
decides to select a smaller, more specific
group. This division of the total market is:

Back 5

Market segmentation.

Front 6

Market position is:

Back 6

The perceived standing of a business in
the minds of customers.

Front 7

The business lease has been renewed and
the monthly lease agreement is set for the
next three years. Which type of expense is
each lease payment?

Back 7

Fixed

Front 8

Professional fees paid to an accountant or
attorney for occasional work would be
which type of expense?

Back 8

Variable

Front 9

Which federal agency provides social and
economic statistics to small businesses?

Back 9

Department of Commerce

Front 10

The value of a life insurance policy on the
life of the business owner is which type of
asset?

Back 10

Other

Front 11

Initial inventory for the business is which
type of cost?

Back 11

Start-up cost

Front 12

The many stages that a product goes
through during its existence on the market
are its:

Back 12

Product life cycle.

Front 13

As she prepared to open her new flower
shop, Jamesia made several trips to talk
with an accountant. The fees paid for those
consultations would be classified as:

Back 13

Start-up costs.

Front 14

Information about a business or its
products that is distributed through
various media at no cost to the business and
is not controlled by the business is:

Back 14

Publicity.

Front 15

Capital contributed by the owner(s) of a
business is:

Back 15

Equity.

Front 16

Updating products to "new and improved"
or stocking products according to market
demand represent which product/service
selection consideration?

Back 16

Monitoring existing products

Front 17

Under which form of business ownership
do owners have limited liability?

Back 17

Corporation

Front 18

The proposed business organization,
including the form of business ownership, is
included in which section of the business
plan?

Back 18

Organizational plan

Front 19

A local agency which is a good resource for
agricultural businesses is the:

Back 19

County Extension Service.

Front 20

Which is NOT a financial tool that utilizes
sales projections?

Back 20

Balance sheet

Front 21

Each year the government spends millions
of dollars on medical research. This is an
example of the government’s role as a:

Back 21

Provider of social programs.

Front 22

When many different product lines are
offered and the consumer has the
convenience of "one- stop" shopping, this is
referred to as a:

Back 22

Broad mix.

Front 23

The decision to use air instead of rail
transportation is related to which
marketing mix element?

Back 23

Place

Front 24

The Cooper Company decided to sell stock
to raise capital. Under which form of
business organization does the company
operate?

Back 24

Corporation

Front 25

Money invested in a business by private
investors is:

Back 25

Equity funding.

Front 26

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

Back 26

$61.95

Front 27

To protect consumers, the government
must place some restrictions on private
companies. This illustrates the
government’s role as a:

Back 27

Regulator.

Front 28

business that targets young professional
female adults ages 21-30 is using:

Back 28

Demographic segmentation.

Front 29

Law firms and medical firms generally
choose which form of incorporation?

Back 29

Limited Liability Company

Front 30

The process of investigating facts about a
specific market that could influence the
potential success of the business is known

Back 30

Market research.

Front 31

Businesses can demonstrate ethical
responsibility towards customers by:

Back 31

Representing the merits of products
truthfully

Front 32

Factors such as location, image, and goals
of a business which influence its success in
relation to its competition are regarded as:

Back 32

Business considerations.

Front 33

Clarence Birdseye pioneered the
development of packaged frozen foods in
the 1920s. He is considered a/n:

Back 33

Entrepreneur.

Front 34

For which type product would
psychographic segmentation MOST
LIKELY be used?

Back 34

Camping equipment

Front 35

The federal agency which provides
assistance and advice on how small
businesses can increase revenues and
profits is the:

Back 35

SBA.