Test #2

Front 1

_____ are people willing to take the risk of starting, owning and operating a business.

Back 1

Entrepreneurs

Front 2

Kyle is the credit manager for Timber Trails, Inc. a local landscaping company. Just recently, his mulch supplier noted on the invoice the terms of 3/15 net 30. What does this mean?

Back 2

Timber Trails will get a 3 percent cash discount if the balance owed to the supplier is paid within the 15 days; otherwise the entire balance is due in 30 days.

Front 3

The_____is a broad stock index that includes many of the largest and best-known US corporations.

Back 3

Standard & Poor's 500

Front 4

In business communications, conciseness_______

Back 4

is desirable, as long as it isn't at the expense of completeness.

Front 5

_____ are wealthy individuals who invest in new and growing firms.

Back 5

angel investors

Front 6

Stockholders are _______ of a corporation. They have the right to vote on issues affecting the operation of the business.

Back 6

owners

Front 7

_____encompasses the routine procedures involved in recording financial transactions, while _______ goes further by analyzing and interpreting this info and communicating the results to the stakeholders.

Back 7

Bookkeeping & accounting

Front 8

_______ accountants combine their knowledge of accounting with investigative skills. These accountants can help detect and investigate tax evasion, embezzlement, money laundering, and securities fraud.

Back 8

Forensic

Front 9

______are professionally managed funds that pool the contributions of thousands of investors.

Back 9

Mutual funds

Front 10

A______ maintains limited liability but offers more flexibility in terms of tax treatment than other forms of business ownership.

Back 10

limited liability partnership

Front 11

four basic financial rations are:

Back 11

liquidity, asset management, leverage and profitability

Front 12

A(n)_______ measures the ability to pay shot-term liabilities as they come due.

Back 12

liquidity ratio

Front 13

Financial planning asks all of the following questions EXCEPT;

Back 13

How does the firm determine it's pricing strategy?

Front 14

______ are companies that provide short-term financing to firms by purchasing accounts receivable at a discount.

Back 14

factors

Front 15

A key advantage of a corporation is that:

Back 15

the owners maintain limited liability.

Front 16

Taken together, the body of principles that guides the financial accounting process used to create financial statements is referred to as:

Back 16

GAAP (Generally Accepted Accounting Principles)

Front 17

Burger king, McDonald's, Wendy's and Hardee's are examples of:

Back 17

Business franchising

Front 18

a_______ allows you to make purchases now and to defer the payment into the future.

Back 18

credit card

Front 19

A_______ measures the extent to which a from relies on debt to meet its financing needs.

Back 19

leverage ratio

Front 20

the firs step to developing a budget is analyzing your:

Back 20

revenues and expenses.

Front 21

Finding ways to improve _______ is likely to a major challenge for globL firms that have employees, customers, and other stakeholders in several different countries.

Back 21

intercultural communication

Front 22

In a _______ two or more companies agree to a combination of equals, creating one new company from the two previously independent companies.

Back 22

merger

Front 23

In communications, the term______ refers to any interference that causes the message received by the audience to be different from the sender's intended message.

Back 23

noise

Front 24

which of the following questions would an entrepreneur most likely ask in the aftermath of business failure?

Back 24

what can i learn from this experience that will help me be more successful in the future?

Front 25

the________ is an index based on the adjusted average price of stocks of 30 major corporations picked by editors of the Wall Street Journal.

Back 25

Dow Jones Industrial Average

Front 26

Excellent communications skills:_______

Back 26

can dramatically imp roe your chances for business success.

Front 27

one characteristic many successful entrepreneurs share includes:

Back 27

vision

Front 28

Which of the following statements is the rationale for the accounting equation?

Back 28

what the firm owns minus what it owes creditors equals what it is worth to its owners.

Front 29

Walmart, ExxonMobil, Intel, and virtually all other large companies in the US are organized as:

Back 29

C-corporations

Front 30

The majority of new small businesses owners rely heavily on _______ to finance their start-ups.

Back 30

personal sources, including family friends and credit cards.

Front 31

______are companies that invest in start-up businesses with high growth potential in exchange for an ownership stake.

Back 31

venture capital firms

Front 32

Financing provided by a firm's owners is classified as______ financing.

Back 32

equity

Front 33

A______ is the communication channel with the highest level of channel richness and is used to deliver complex and individualized messages.

Back 33

Face-to-face meeting.

Front 34

______ are the after-tax distribution of profits to corporate owners.

Back 34

dividends

Front 35

effective communication occurs when you can transmit ______ to your audience

Back 35

meaning

Front 36

Susanne likely was just elected to the board of directors at United bank corporation. As a board member, she is expected to represent the interests of:

Back 36

shareholders

Front 37

in low-income countries, a higher percentage of entrepreneurs are considered:

Back 37

necessity entrepreneurs

Front 38

In its narrowest sense, a firm's _____ consists of its holdings of currency and demand deposits.

Back 38

cash

Front 39

A nonprofit corporation enjoys the benefit of:

Back 39

earnings that are exempt from state and federal taxes.

Front 40

responsible use of credit card requires:

Back 40

self-discipline

Front 41

One of the reasons people tend to have a hard time listening effectively is that they_______

Back 41

can think at a much faster rate than they can listen.

Front 42

In the ______ corporation raise additional financial capital by issuing and selling new securities, while in the________ investors trade previously issued securities.

Back 42

primary market & secondary market

Front 43

Entrepreneurs tend to have an internal locus of control. this means they:

Back 43

have a sense that they are personally responsible for what happens in their lives.

Front 44

a stockholder will recognize a_______ if upon selling his shares, he receives a higher price/share than the original price/share that he paid for the stock.

Back 44

capital gain

Front 45

cash equivalents include all of the following EXCEPT:

Back 45

inventory

Front 46

the party in a franchise relationship that pays for the right to use resources supplied by another business entity is known as the:

Back 46

franchise

Front 47

_____ is/are what the firm owes its creditors

Back 47

liabilities

Front 48

the key elements of a credit policy would include all of the following EXCEPT:

Back 48

evaluating the appropriate stock of inventory needed to meet credit sales.

Front 49

When a firm reinvests some of its net income rather than distributing it to owners, the result is an increase in the firm's:

Back 49

retained earnings

Front 50

the majority of businesses today are formed as______

Back 50

sole proprietorships

Front 51

Pop goes the weasel is a small toy store that competes effectively with the much larger companies, since it focuses exclusively on selling non electronic toys made of wood. the company has been successful since it has:

Back 51

exploited a market niche

Front 52

a manager's facial expressions, posture and gestures are examples of __________

Back 52

nonverbal communication

Front 53

advantage of a corporation include all of the following EXCEPT:

Back 53

less paperwork and government regulation.

Front 54

while _________ is concerned with preparing financial statements for external stakeholders according to a fixed schedule, _______ provides info to internal stakeholders on an "as needed" basis.

Back 54

financial accounting ______&_____ managerial accounting

Front 55

A _____ is a voluntary agreement between two or more people to jointly own a business

Back 55

partnership

Front 56

financial managers use ______ to assess the financial strengths and weakness of their firm.

Back 56

ratio analysis

Front 57

the three basic types of securities corporations issue to raise long-term financial capital are_____

Back 57

stocks, commercial paper and debentures

Front 58

the _____ budget deals with the firm's plans for investing in major fixed assets and long term projects

Back 58

long-term

Front 59

an auditor issuing ____ has uncovered serious widespread problems with the preparation of a firms financial statements

Back 59

adverse opinion

Front 60

managerial accounting serves the needs of a firm's ________?

Back 60

mangers