Final Exam Review
Popular in Introduction to Business
Popular in Business
This 2 page Study Guide was uploaded by Nia Notetaker on Thursday December 17, 2015. The Study Guide belongs to 101 at Old Dominion University taught by Jennifer Usis in Fall 2015. Since its upload, it has received 273 views. For similar materials see Introduction to Business in Business at Old Dominion University.
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Date Created: 12/17/15
1. Nicole is a financial manager. Her responsibilities include preparing which of the following? a. CASH FLOW ANALYSIS 2. The four stages in the product life cycle are introduction, market, exchange, and disposal: a. FALSE 3. _________________ is a marketing strategy with a goal to keep individual customers over time by offering them new products that exactly meet their requirements. a. RELATIONSHIP MARKETING 4. Two of the characteristics of useful information are: a. RELEVANCE AND TIMELINESS 5. Throughout history, an investment in ________ has yielded an excellent return, regardless of the state of the economy or political changes. a. A GOOD EDUCATION 6. Which of the following people would tend to favor a socialist economy? a. SOCIAL EQUALITY 7. Ed Flavorman, the chief executive of Flavor Best Ice Cream, believes that alternative plans are almost as important as the primary operational plans because the market is so competitive and unpredictable. Ed endorses: a. CONTINGENCY 8. _________ analysis is used to help companies evaluate their economic environments, assess their strengths and weaknesses, and identify competitive threats and market opportunities. a. SWOT 9. A(n) ________based ethics code emphasizes the prevention of unlawful behavior by penalizing wrongdoers. a. Compliance 10. Put in order the strategies for reaching global markets from least to most amount of commitment, control, risk, and profit potential. a. licensing, exporting, franchising, contract, joint ventures, Foreign direct investments 11. Which of the following statements about monetary policy is most true? a. 12. Harmon Furniture Company uses labor and machinery to transform wood, plastic, metal, and cloth into comfortable chairs, sofas, and love seats. This process creates: a. Form utility 13. Bob has the responsibility for product development, pricing, promotion, and distribution of Hi Vee Vitamins for children. Bob’s job would not involve: a. pollution control 14. When the supply curve and demand curve for a particular good are on a single graph, the point at which the two curves intersect identifies the: a. equilibrium price 15. One of the major financial statements prepared in the fifth step of the accounting cycle is the: a. Statement Cash Flows 16. Larry wants to buy a new car, and is planning to borrow the money for his purchase from a bank. He has just read in the newspapers that the Federal Reserve is likely to implement policies in the next few weeks that are designed to stimulate the economy, which is currently in a recession. Larry would probably get a lower interest rate on his car loan if he waits until after the Fed implements its new policies. a. True 17. The Federal Reserve System operates: a. Independently 18. Many financial experts advise that you set up a contingency fund equal to about ________ of your earnings and keep these funds in highly liquid accounts. a. 6 months 19. Kidder Manufacturing wants to ship a large quantity of its goods across the country. They have contacted Wayback Shipping, Inc. to find out what the shipment would cost. Wayback has shown Kidder how it can arrange to use a combination of barges, trains, and trucks to complete the shipment at a low cost. Wayback’s strategy is an example of: a. Intermodal Shipping 20. ________ examine the data prepared by ________ and then make recommendations to top management regarding strategies for improving the firm. a. Accountants; Financial Managers 21. Financial planners encourage individuals to begin contributing funds into an IRA as early as possible. The major benefit of early and regular contributions is that: a. Long time to grow 22. The five factors of production are: a. Natural Resources Labor Capital Entrepreneurship Knowledge 23. Ho Han has just spent two hours going over quality reports to determine whether his department is meeting quality standards he set for the current month. Ho's efforts are part of the ___________ function of management. a. Controlling 24. Taxes and government regulations are part of the ________________ environment of business. a. Economic and Legal 25. Elizabeth owns a printing business in her home town. The printers, computers, and copying machines represent examples of: a. Capital