1) Through the illegal practice of , mutual fund managers trade after the market closing at the pre-close price. 1) A) divestiture B) insider trading C) market timing D) late trading E) loading 2) refers to a products ability to satisfy a human want. 2) A) Value B) Marketability C) Demand D) Utility E) Customer satisfaction 3) are the qualities, tangible and intangible, that a company builds into its products. 3) A) Requirements B) Bargains C) Safety devices D) Nuances E) Features 4) When Burger King advertises new restaurant that is opening near you, it is attempting to fulfill which promotional objective? 4) A) eliminating competition B) reminding consumers about the product C) positioning products D) communicating information E) controlling sales volume 5) A(n) is a salaried accountant hired by a business to carry out its day-to-day financial activities. 5) A) private accountant B) controller C) auditor D) advisor E) public accountant 6) If a nations productivity drops as compared to competing nations, it will experience . 6) A) a drop in its standard of living B) higher profits C) low inflation D) no change in income E) increased wealth 7) By showing the flow of processes that make up a given service, helps managers decide whether every process is needed. 7) A) a Gantt chart B) service flow analysis C) process analysis D) a PERT chart E) operations control 8) The two general values to be gained from any promotional activity are creating more satisfying exchanges and . 8) A) increasing sales B) increasing customer loyalty C) better public image D) communicating information E) creating and controlling demand 9) The is the group of companies and stream of activities that work together to create a product. 9) A) service channel B) distribution chain C) supply chain D) value chain E) supply network 10) Which of the following best describes the accounting equation? 10) A) Assets = Liabilities * Owners Equity B) Assets + Liabilities = Owners Equity C) Assets * Liabilities = Owners Equity D) Assets = Liabilities + Owners Equity. E) Assets / Liabilities = Owners Equity 11) A network links computers and workstations, usually within one company, through fiber optic, coaxial, or twisted wire cable. 11) A) personal digital B) wide area C) global positioning D) local area E) paging 12) Typically, a state or local government will issue bonds to fund new elementary and high schools. 12) A) supported B) commonwealth C) revenue D) obligation E) trans-issued 13) Which of the following best describes financial control? 13) A) the granting of credit by one firm to another B) the process of checking actual performance against plans to ensure that desired financial results occur C) the management of cash inflows and outflows to ensure adequate funds for purchases and the productive use of excess funds D) a firms strategies for reaching some future financial position E) rules governing a firms extension of credit to customers 14) is the difference between a firms current assets and current liabilities. 14) A) Accounts payable B) Gross profit C) Working capital D) Operating income E) Accounts receivable 15) Different parts of salmon are worth different amounts, thus violating the money characteristic of . 15) A) divisibility B) stability C) portability D) durability E) value 16) Every month Bill adds to his savings account with a financial institution, which makes loans for homes. The only money he makes from this institution is interest on his savings. The financial institution is most likely a . 16) A) mutual savings bank B) commercial bank C) finance company D) savings and loan association E) credit union 17) McDonalds offering beer with its meals in Germany is an example of . 17) A) product expansion B) product development C) product adaptation D) product extension E) reintroduction 18) are brands that are produced and widely distributed by, and carries the name of a known manufacturer. 18) A) Private brands B) Public brands C) Licensed brands D) National brands E) International brands 19) Which of the following is the primary factor in location planning for a Taco Bell restaurant? 19) A) proximity to customers B) community living conditions C) availability of labor D) proximity to resource supplies E) transportation costs 20) A clothing manufacturer that sets up an area for making different kinds of pockets, another area for sleeves, and another area for collars is using the layout. 20) A) cellular B) fixed-position C) process D) customer E) product 21) Products ranging from cell phones to auto parts are created using software because it allows faster designs at lower costs compared to manual modeling methods. 21) A) application B) computer-aided design C) computer-aided manufacturing D) computer-aided simulation E) operations 22) When the IRS studied American Expresss billing procedures in an effort to improve its own, it was using . 22) A) external benchmarking B) quality/cost studies C) quality reliability analysis D) internal benchmarking E) competitive product analysis 23) is dominated by a desire to improve operations in order to produce goods and services at the lowest possible cost and at the highest value for the customer. 23) A) ROQ B) Back to Basics C) Reengineering D) ISO 9000 E) Six Sigma 24) When selling new, innovative products, is the most commonly used selling task. 24) A) sales promotions B) public relations C) order processing D) creative selling E) missionary selling 25) Prices are climbing, demand for goods and services are increasing. Which of the following is the Fed most likely to do? 25) A) reduce the reserve requirement B) decrease the discount rate C) reduce the securities margin requirement D) buy government securities E) increase the discount rate TRUE/FALSE. Write T if the statement is true and F if the statement is false. 26) A letter of credit is a bank promise to pay a designated firm a specified amount at a future date. 26) 27) A decrease in the reserve requirement will result in a reduction in the money supply. 27) 28) In order to ensure that workers will be present when needed, McDonalds uses overlapping shifts. 28) 29) Trucks are used primarily to transport heavy, bulky items such as cars, steel, and coal. 29) 30) Companies using intensive distribution use only wholesalers and retailers who give special attention to specific products. 30) 31) Depreciation is used to recognize the cost of an asset in the year in which it is purchased. 31) 32) A budget is a financial statement that lists a firms annual revenues and expenses so that a bottom line shows an annual profit or loss. 32) 33) The first state in the buyer decision process is buyer recognition of the need for a product. 33) 34) Objections are usually signs that the prospect will not buy the product. 34) 35) Loans are the major source of long-term debt financing for most large corporations. 35) 36) Junk bonds are bonds that pay very unattractive interest rates. 36) 37) Variable costs are unaffected by the quantity of a product produced or sold. 37) 38) Distribution centers provide long-term storage for high value items. 38) 39) In a process layout, the production facilities are designed to move families of products through similar flow paths. 39) 40) Quality is the totality of features and characteristics of a product or service that bears on its ability to satisfy stated or implied needs. 40)
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