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28 Cards in this Set
- Front
- Back
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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? |
Promotion
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If beginning inventory is $27,000,
merchandise purchased to replenish the stock is $18,000, and the recorded ending inventory is $16,000, what is the cost of goods sold? |
$29,000
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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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Expenses that are NOT affected by sales
volume are called: |
Fixed costs.
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Factors such as location, image, and goals
of a business which influence its success in relation to its competition are regarded as: |
Business considerations.
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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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What is trade credit?
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A form of short-term financing from
within the industry |
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Jessica asks many questions and conducts
research when attempting to solve problems related to her business. What personal characteristic does this represent |
Inquisitiveness
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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 |
Financing
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Entrepreneurs generally have high
expectations for themselves and strive to achieve those expectations. Thus, they are characterized as: |
Self-demanding.
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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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Plans for future expansion of the business
are included in which section of the business plan? |
Growth plan
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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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Law firms and medical firms generally
choose which form of incorporation? |
Limited Liability Company
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Under which form of business ownership
do owners have limited liability? |
Corporation
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The Cooper Company decided to sell stock
to raise capital. Under which form of business organization does the company operate? |
Corporation
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Which federal agency provides social and
economic statistics to small businesses |
Department of Commerce
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Which federal agency helps small
businesses secure government contracts |
SBA
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To protect consumers, the government
must place some restrictions on private companies. This illustrates the government’s role as a |
Regulator
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Ability and willingness to invest personally
in a business venture satisfies the credit requirement for |
Capital.
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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: |
SBA.
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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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Professional fees paid to an accountant or
attorney for occasional work would be which type of expense |
Variable
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Which is a balance sheet item
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Assets
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Which appears on the income statement
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Net profit
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David borrowed $180,000 from his bank to
start his dry cleaning business. His repayment plan requires payments of $1,500 a month. How long will it take David to pay back his loan |
10 years
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XYZ DECA chapter sold $5,800 worth of
candy last year. A 9% increase in sales is projected for this year based on increased chapter membership and new candy varieties. XYZ DECA is projecting sales for this year to be: |
$6,322
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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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