Take Assessment: Final ExamName Final ExamInstructionsMultiple Attempts This Test allows 2 attempts. This is attempt number 2.Force Completion This Test can be saved and resumed later.Question 1 1 points SaveThe most typical time frame for a budget isone month.three months.six months.one year.five years.Question 2 1 points SaveWhich of the following is NOT a Core Competency in Accounting as identified by the CPA Vision Project?skills in interpreting converging informationstrategic and critical skillstechnology skillscomputational skillscommunication and leadership skillsQuestion 3 1 points SaveThe ____________ measures the average number of times that inventory is sold and restocked during the year.inventory turnover ratiocurrent ratiothe restock factorThe Learning Effectthe acid test ratioQuestion 4 1 points SaveAs buildings and equipment wear out or become obsolete, their value decreases. To reflect decreasing value, accountants useprepaid expenses.subtracting methods.depreciation.licensing.all of the above.Question 5 1 points Save_______________ is concerned with reporting the operations of the company as a whole to shareholders and the public.Managerial accountingGovernment accountingMinor accountingFinancial accountingStock market accountingQuestion 6 1 points SaveAn expense, such as rent, that is paid before the upcoming period in which it is due is referred to as _________ on the balance sheet.accounts receivablefuturesprepaid expensesmerchandise inventorymarketable securitiesQuestion 7 1 points Save__________ is also known as net profit or net earnings.Operating incomeNet incomeCash flowLeverageSelling incomeQuestion 8 1 points SaveSubtracting income taxes from operating income revealsoperating income.net income.cash flow.leverage.selling income.Question 9 1 points SaveDepreciation isthe process of distributing the cost of an asset over its useful life.the amount paid for an existing business above the value of its other assets.a debt that must be paid within the year.additional money, above proceeds from a stock sale, paid directly to a firm by its owners.a debt that is not due for at least one year.Question 10 1 points SaveWhich of the following statements is the most accurate?All inventory turnover ratios should be five or above.A “good” inventory turnover ratio depends upon the industry that a firm is in.As a rule, any firm strives to achieve an inventory ratio below five.Most firms pay no attention to inventory turnover.Inventory turnover is a short-term solvency ratio.Question 11 1 points SaveAlong with the computer, Mega Computers has sent a document that states the promised payment date and amount. The buyer must sign it before taking the computer. This is a(n)revolving credit agreement.open-book credit.promissory note.trade draft.line of credit.Question 12 1 points SaveFinancial control isthe process of checking actual performance against plans to ensure that desired financial results occur.a firm’s strategies for reaching some future financial position.rules governing a firm’s extension of credit to customers.the granting of credit by one firm to another.the management of cash inflows and outflows to ensure adequate funds for purchases and the productive use of excess funds.Question 13 1 points SaveProperty insurance isinsurance covering income lost during times when a company is unable to conduct business.insurance underwritten for a group as a whole rather than each individual in it.insurance covering losses resulting from physical damage to or loss of the insured’s real estate or personal property.coverage provided by a firm to employees for medical expenses, loss of wages, and rehabilitation costs resulting from job-related injuries or disease.insurance covering losses resulting from medical and hospital expenses as well as income lost from injury or disease.Question 14 1 points SaveCash-flow management isthe process of checking actual performance against plans to ensure that desired financial results occur.a firm’s strategies for reaching some future financial position.rules governing a firm’s extension of credit to customers.the granting of credit by one firm to another.the management of cash inflows and outflows to ensure adequate funds for purchases and the productive use of excess funds.Question 15 1 points SaveThe mix of debt and equity funding that a firm uses is called itscapital structure.long-term funding mix.financial mix.debt-to-equity ratio.corporate capital mix.Question 16 1 points SaveCredit policies arethe process of checking actual performance against plans to ensure that desired financial results occur.a firm’s strategies for reaching some future financial position.rules governing a firm’s extension of credit to customers.the granting of credit by one firm to another.the management of cash inflows and outflows to ensure adequate funds for purchases and the productive use of excess funds.Question 17 1 points SaveA __________ is an arrangement in which a lender agrees to make funds available on demand and on a continuing basis.line of creditrevolving credit agreementcommercial paperfactoringtrade acceptanceQuestion 18 1 points Save_________ risks involve the possibility of gain or loss.Acts of GodMarketSpeculativePureFinancialQuestion 19 1 points Save__________ is uncertainty about future events.FlowRiskLeverageLiquidityHedgingQuestion 20 1 points Save_______ are purchases of fixed assets such as land, buildings, and machinery.Capital expendituresOperating expendituresFixed expendituresBudgeted expendituresInvestmentsQuestion 21 1 points SaveSearch engines such as Yahoo! serve as ___________, collections of business Web sites representing diverse products.internet service providerselectronic storefrontscybermallsmulti-level marketerse-catalogsQuestion 22 1 points Save___________ help Internet customers by gathering and sorting information on products and prices.Rack jobbersSyndicated sellersE-referralsShopping agentsBrokersQuestion 23 1 points SaveWhich of the following would violate FCC cross-ownership regulations?Montrose Broadcasting owns newspapers in San Diego and San Francisco.Wine Tarner owns one newspaper and one television station in Omaha.Entertainment Systems owns a newspaper in Orlando and a radio station in Tampa.All of the above.None of the above.Question 24 1 points SaveThe Federal Communications Commission has regulations against ____________, ownership of more than one media outlet in the same market.channelingmulti-plexingcross-ownershipdual ownershipdual distributionQuestion 25 1 points SaveThe type of nonstore marketing used by Tupperware, Amway, and Avon isdirect selling.video marketing.electronic shopping.telemarketing.mail order.Question 26 1 points Save__________ generate large sales volume by offering goods at substantial price reductions. In recent years they have offered higher quality and a few department store services.Discount housesWarehouse clubsFactory outletsOff-price storesCatalog showroomsQuestion 27 1 points SaveIn _________, the telephone is used to sell directly to consumers.direct sellingvideo marketingelectronic shoppingtelemarketingmail orderingQuestion 28 1 points SaveThere are over _______ million retail establishments in the U.S.10.07.55.02.51.6Question 29 1 points Save___________ distribution is a strategy by which a manufacturer grants exclusive rights to distribute or sell a product to a limited number of wholesalers or retailers in a given geographic area.NetworkExclusiveSelectiveMatrixIntensiveQuestion 30 1 points SaveWhich of the following work on commission, do not take title to the goods they sell, and serve as sales reps to manufacturers who need them?merchant wholesalersmerchant shippersdrop shipperrack jobbersagents and brokersQuestion 31 1 points SaveOnly corporations can issue ___________ bonds.municipalserialcallableconvertiblesinking fundQuestion 32 1 points SaveA _______ is a bond for which no specific property is pledged as collateral.bearer bonddebentureregistered bondsecured bondcallable bondQuestion 33 1 points SaveAnimal names have figured prominently in the stock market for years. Which animal listed below do we associate with a rising market?lambtigerbearbullpantherQuestion 34 1 points SaveWhat condition would lead an issuer to call a bond?The coupon payments on the bond are high.Prevailing interest rates are lower than the rate being paid on the bond.Government regulation.The coupon payments on the bond are low.Prevailing interest rates are higher than the rate being paid on the bond.Question 35 1 points SaveWhich of the following are aspects of a short sale by an investor?Borrowing of stock from a broker.Required return of the stock to broker.Hope for falling price on the stock sold short.Money not required up front.All of the above.Question 36 1 points SaveOn the stock pages of The Wall Street Journal, which column informs us as to how many shares of a given stock was sold during the market session reported on?Vol 100sCloseNet Chg52-Week HighDivQuestion 37 1 points SaveAmong municipal bonds, which are backed by the issuer’s taxing power?obligation bondsrevenue bondssupported bondscommonwealth bondstrans-issued bondsQuestion 38 1 points SaveThrough _________, the risk of loss is reduced by spreading the total investment across more stocks.spreadingshortingmargin buyingasset allocationdiversificationQuestion 39 1 points SaveTypically, a state or local government will issue ___________ to fund new elementary and high schools.obligation bondsrevenue bondssupported bondscommonwealth bondstrans-issued bondsQuestion 40 1 points SaveWhich is the most widely cited U.S. stock market index?Standard & Poor’s Composite Indexthe NYSE indexThe New York Times indexDow Jones Industrial AverageNASDAQ composite indexQuestion 41 1 points SaveBuyers fall into two groups: buyers of __________ and buyers of ___________.shopping goods, convenience goodstemporary goods, permanent goodsquick goods, fast goodsconsumer products, industrial productscheap goods, expensive goodsQuestion 42 1 points SaveCompanies often price their products to establish ______________, a company’s percentage of the total market sales for a specific product type.market sharefixed costssales percentagevariable costsbreakeven pointQuestion 43 1 points SaveWhich of the following is most likely to generate profits to cover the expenses of developing new products?price fixingprice skimmingpenetration pricingmarket pricingprice liningQuestion 44 1 points Save___________ is frequently used to stimulate sales.Price fixingPrice discountingPsychological pricingMarket pricingPrice liningQuestion 45 1 points SaveWhich of the following is NOT a function of packaging?Serves as in-store advertisement.Reduces risk of spoilage.Increases the quality of the product inside.Makes the product attractive.Displays the brand name.Question 46 1 points Save___________ refers to the physical container in which a product is sold, advertised, or protected.LabelingBrandingPricingPackagingLiningQuestion 47 1 points SaveThe three types of brand names are ________________ brands.national, licensed, and privatelarge, medium, and smalllocal, regional, and nationalnearer, farther, and farthestnumerical, logistical, and literalQuestion 48 1 points SaveA ____________ is the tangible and intangible features that characterize a product.product lineservice packageservice mixprototypeproduct mixQuestion 49 1 points SaveWhen companies extend their horizons and identify opportunities outside existing product lines, the result isconglomeration.multiple product lines.ubiquity.universalism.global response.Question 50 1 points SaveA product __________ is a group of similar products intended for a group of similar buyers.lineassortmentmixshieldrangeQuestion 51 1 points SaveThe evaluation of all work activities, materials flows, and paperwork to determine the value that they add for customers isquality/cost studies.value-added analysis.benchmarking.getting closer to the customer.statistical process control.Question 52 1 points SaveThrough _________, a firm compares its products and processes with those of competitors or even companies in other lines of business.external benchmarkingquality improvementfailure managementinternal benchmarkingprocess improvementQuestion 53 1 points SaveWhich of the following was used where GTE improved its over-the-phone business?ISO 9000reengineeringROQBack to BasicsSix SigmaQuestion 54 1 points SaveBusiness process reengineering isthe concept that all employees are valuable contributors to a firm’s business, and should be entrusted with decisions regarding their work.the redesigning of business processes to improve performance, quality, and productivity.a program certifying that a factory, laboratory, or office has met the quality management standards of the International Organization for Standardization.the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.a certification program attesting to the fact that a factory, laboratory, or office has improved environmental performance.Question 55 1 points SaveA product with a very low defect rate would have highquality control.quality reliability.quality circles.total quality management.performance quality.Question 56 1 points SaveProductivity measures how much we produce with the _______ we use to produce it.materialslaborresourcesdollarstimeQuestion 57 1 points SaveThe process by which a company analyzes a competitor’s product to identify desirable improvements in its own is calledcompetitive product analysis.benchmarking.quality/cost studies.performance quality analysis.quality reliability analysis.Question 58 1 points SaveEmployee empowerment isthe concept that all employees are valuable contributors to a firm’s business, and should be entrusted with decisions regarding their work.an ongoing commitment to improving products and processes in the pursuit of ever-increasing customer satisfaction.a program certifying that a factory, laboratory, or office has met the quality management standards of the International Organization for Standardization.the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.a certification program attesting to the fact that a factory, laboratory, or office has improved environmental performance.Question 59 1 points SaveA _________ could be used to analyze variations in the weight of cereal boxes.process capability studyvalue-added analysisbenchmarkquality circlequality/cost studyQuestion 60 1 points SaveTotal quality management isthe principle that quality belongs to each person who creates it while performing a job.the consistency of a product’s quality from unit to unit.the performance features offered by a product.the sum of all activities involved in getting high-quality products into the marketplace.the process by which a company analyzes a competitor’s products to identify desirable improvements.Question 61 1 points SaveInformation isthe useful interpretation of facts and figures.names and numbers from a large phonebook.raw facts and figures.proven facts.controlled flow of words for a useful purpose.Question 62 1 points SaveNetscape Navigator, Netscape Communicator, and Internet Explorer aredata communication networks.Web links.browsers.Web servers.connections.Question 63 1 points Save__________ need information to analyze trends in the business environment and overall company performance in order to make long-range plans.Middle managersMembers of the board of directorsTop-level managersFirst-level managersKnowledge workersQuestion 64 1 points SaveThe ________ was originally commissioned by the Pentagon.Fox News ChannelWorld Wide WebNational Public RadioFederal Communications CommissionInternetQuestion 65 1 points Save_________ allows people in remote locations to work simultaneously on one document.VideoconferencingVoice mailData conferencingDigital information serviceAn Internet service providerQuestion 66 1 points SaveA(n) ________________ is a quick-reference, easy-access application of information systems specially designed for instant access by upper-level managers.applicationdecision supportexecutive supportexpertartificial intelligenceQuestion 67 1 points SaveWhich of the following is a database management program?Microsoft AccessWord PerfectLotus 1-2-3A, b, and cNone of the aboveQuestion 68 1 points SaveRobotics is a special category ofapplied technology.human support.executive support.an expert system.artificial intelligence.Question 69 1 points SaveWhich of the following are spreadsheet packages?Lotus 1-2-3Quattro ProMicrosoft ExcelAll of the aboveNone of the aboveQuestion 70 1 points SaveLotus Notes and Netscape Communicator are __________ products.groupwaredata communication networkInternetelectronic conferencingInternet service providerQuestion 71 1 points SaveA nondeposit financial institution that pools funds from it members to provide retirement income for its members is a(n)credit union.securities dealer.insurance company.finance company.pension fund.Question 72 1 points SaveThe _________ funds national improvements by making loans to build roads, schools, power plants, and hospitals.Federal ReserveWorld BankImport-Export BankEuropean UnionInternational Monetary FundQuestion 73 1 points SaveApproximately ________ of all U.S. currency is held by residents of other countries who want the security of U.S. dollars.10 percent20 percent25 percent50 percent75 percentQuestion 74 1 points SaveWhich of the following is a purpose of the International Monetary Fund?Promote the stability of exchange rates.Provide temporary, short-term loans to member countries.Encourage members to cooperate on international monetary issues.Encourage development of a system for international payments.All are purposes of the IMF.Question 75 1 points SaveWhich of the following will result in an increase of the money supply?An increase in reserve requirements.An increase in the discount rate.A decrease in reserve requirements.An increase in taxes.Sale of securities by the Fed.Question 76 1 points SaveDavid has a savings account and his home mortgage with this financial institution. In addition, he periodically receives a dividend check from them. He is invested with acommercial bank.finance company.savings and loan associations.mutual savings bank.credit union.Question 77 1 points SaveWhich of the following is NOT part of the M-2 money supply?time depositsmoney market mutual fundssavings depositsgovernment bondscurrencyQuestion 78 1 points SaveWhere will one find the most avid users of the smart card?United StatesGreat BritainNorth AfricaEurope and AsiaScandinaviaQuestion 79 1 points SaveIf today’s currency wears out it can be replaced, thus demonstrating that it isportable.divisible.stable.durable.valuable.Question 80 1 points SaveIndividual banks that need money can borrow from the Federal Reserve and pay interest on the loans, while the Fed provides storage for commercial banks. The preceding sentence describes which role of the Fed?the government’s bankthe bankers’ bankguardian of the currencycontrolling the money supplyoverseeing the economyQuestion 81 1 points SaveApproximately ________ of the Gross Domestic Product is generated by the service sector.20 percent40 percent60 percent70 percent80 percentQuestion 82 1 points SaveThe typical layout in automobile, food-processing, and computer assembly plants is the _______ layout.processcustomerproductcellularfixed-positionQuestion 83 1 points SaveUsing a _________ chart, managers list all the activities needed to complete a job, estimate the time required for each step, and check the progress of the project against the chart.lead timeSimonMRP IIPERTGanttQuestion 84 1 points SaveLockheed Martin is using _________ to automatically inform their engineers and those of their subcontractors of changes to designs.monthly updatesan electronic bulletin boarda product data management systema newsletterannual meetingsQuestion 85 1 points SaveThe layout that is efficient and inexpensive because it simplifies work tasks and uses unskilled labor is the _______ layout.processcustomerproductcellularfixed-positionQuestion 86 1 points SaveSteve manages people who take various raw materials and pre-made assemblies and puts them together in a unique product that is sold to retail stores. Steve is involved inservice creation.goods creation.plant management.manufacturing management.operations management.Question 87 1 points SaveCheck processing at your local bank is a(n) ___________ system.activehigh-contactlow-contacthigh-interactionlow-interactionQuestion 88 1 points SaveEmployment in the service sector accounts for approximately _________ of jobs in the United States.20 percent40 percent60 percent70 percent80 percentQuestion 89 1 points SaveThe layout where the arrangement of production facilities is design to move families of products through similar flow paths is the _______ layout.processcustomerproductcellularfixed-positionQuestion 90 1 points SaveA _________ chart is a production schedule specifying the sequence and critical path for performing the steps in a project.lead timeSimonMRP IIPERTGanttQuestion 91 1 points SaveThe sending of fliers or other types of printed advertisements to consumer’s homes ismagazines.television.newspaper.radio.direct mail.Question 92 1 points Save__________ indicate(s) that the buyer is interested and pinpoint(s) the parts of the presentation that trouble the buyer.ApproachingDemonstrationsObjectionsClosingQualifyingQuestion 93 1 points SaveTo stimulate sales, drug companies useeducational events.funding for medical research.direct-to-consumer marketing.promotional gifts.all of the above.Question 94 1 points SaveThe owner of Billy Joe’s Barbecue is looking at his advertising, sales promotion, and publicity programs. He is reviewing the company’s ___________ mix.communicationsmarketingpromotionalpublicityconsumer informationQuestion 95 1 points SaveWhen New York Life advertises the safety and security of its products, it is using a _______ advertising strategy.pushpersuasivecomparativepullreminderQuestion 96 1 points SaveAs an example of adding value, Burger King cut back on advertising dollars and used those funds formeat purchases in South America.adding highly trained managers for their units.customer discounts.expansion of the chain.none of the above.Question 97 1 points Save____________ allow companies to rent booths to display and demonstrate products to customers who have a special interest in them.PremiumsDirectional signsPoint-of-purchase displaysTrade showsCoupon incentivesQuestion 98 1 points SaveDuring the postpurchase evaluation stage of the consumer buying process, the most effective promotional tool(s) is/areadvertising and sales promotion.personal selling.advertising and publicity.sales promotion and personal selling.advertising and personal selling.Question 99 1 points SaveWhen selling new, innovative products the type of selling most likely needed isorder processing.sales promotions.creative selling.missionary selling.public relations.Question 100 1 points SaveWhich of the following make it easier for customers to find a product and eliminate competitors’ products from consideration?contestsPOP displayscouponpremiumstrade showsTake Assessment: Final ExamName Final ExamInstructionsMultiple Attempts This Test allows 2 attempts. This is attempt number 2.Force Completion This Test can be saved and resumed later.Question 1 1 points SaveThe most typical time frame for a budget isone month.three months.six months.one year.five years.Question 2 1 points SaveWhich of the following is NOT a Core Competency in Accounting as identified by the CPA Vision Project?skills in interpreting converging informationstrategic and critical skillstechnology skillscomputational skillscommunication and leadership skillsQuestion 3 1 points SaveThe ____________ measures the average number of times that inventory is sold and restocked during the year.inventory turnover ratiocurrent ratiothe restock factorThe Learning Effectthe acid test ratioQuestion 4 1 points SaveAs buildings and equipment wear out or become obsolete, their value decreases. To reflect decreasing value, accountants useprepaid expenses.subtracting methods.depreciation.licensing.all of the above.Question 5 1 points Save_______________ is concerned with reporting the operations of the company as a whole to shareholders and the public.Managerial accountingGovernment accountingMinor accountingFinancial accountingStock market accountingQuestion 6 1 points SaveAn expense, such as rent, that is paid before the upcoming period in which it is due is referred to as _________ on the balance sheet.accounts receivablefuturesprepaid expensesmerchandise inventorymarketable securitiesQuestion 7 1 points Save__________ is also known as net profit or net earnings.Operating incomeNet incomeCash flowLeverageSelling incomeQuestion 8 1 points SaveSubtracting income taxes from operating income revealsoperating income.net income.cash flow.leverage.selling income.Question 9 1 points SaveDepreciation isthe process of distributing the cost of an asset over its useful life.the amount paid for an existing business above the value of its other assets.a debt that must be paid within the year.additional money, above proceeds from a stock sale, paid directly to a firm by its owners.a debt that is not due for at least one year.Question 10 1 points SaveWhich of the following statements is the most accurate?All inventory turnover ratios should be five or above.A “good” inventory turnover ratio depends upon the industry that a firm is in.As a rule, any firm strives to achieve an inventory ratio below five.Most firms pay no attention to inventory turnover.Inventory turnover is a short-term solvency ratio.Question 11 1 points SaveAlong with the computer, Mega Computers has sent a document that states the promised payment date and amount. The buyer must sign it before taking the computer. This is a(n)revolving credit agreement.open-book credit.promissory note.trade draft.line of credit.Question 12 1 points SaveFinancial control isthe process of checking actual performance against plans to ensure that desired financial results occur.a firm’s strategies for reaching some future financial position.rules governing a firm’s extension of credit to customers.the granting of credit by one firm to another.the management of cash inflows and outflows to ensure adequate funds for purchases and the productive use of excess funds.Question 13 1 points SaveProperty insurance isinsurance covering income lost during times when a company is unable to conduct business.insurance underwritten for a group as a whole rather than each individual in it.insurance covering losses resulting from physical damage to or loss of the insured’s real estate or personal property.coverage provided by a firm to employees for medical expenses, loss of wages, and rehabilitation costs resulting from job-related injuries or disease.insurance covering losses resulting from medical and hospital expenses as well as income lost from injury or disease.Question 14 1 points SaveCash-flow management isthe process of checking actual performance against plans to ensure that desired financial results occur.a firm’s strategies for reaching some future financial position.rules governing a firm’s extension of credit to customers.the granting of credit by one firm to another.the management of cash inflows and outflows to ensure adequate funds for purchases and the productive use of excess funds.Question 15 1 points SaveThe mix of debt and equity funding that a firm uses is called itscapital structure.long-term funding mix.financial mix.debt-to-equity ratio.corporate capital mix.Question 16 1 points SaveCredit policies arethe process of checking actual performance against plans to ensure that desired financial results occur.a firm’s strategies for reaching some future financial position.rules governing a firm’s extension of credit to customers.the granting of credit by one firm to another.the management of cash inflows and outflows to ensure adequate funds for purchases and the productive use of excess funds.Question 17 1 points SaveA __________ is an arrangement in which a lender agrees to make funds available on demand and on a continuing basis.line of creditrevolving credit agreementcommercial paperfactoringtrade acceptanceQuestion 18 1 points Save_________ risks involve the possibility of gain or loss.Acts of GodMarketSpeculativePureFinancialQuestion 19 1 points Save__________ is uncertainty about future events.FlowRiskLeverageLiquidityHedgingQuestion 20 1 points Save_______ are purchases of fixed assets such as land, buildings, and machinery.Capital expendituresOperating expendituresFixed expendituresBudgeted expendituresInvestmentsQuestion 21 1 points SaveSearch engines such as Yahoo! serve as ___________, collections of business Web sites representing diverse products.internet service providerselectronic storefrontscybermallsmulti-level marketerse-catalogsQuestion 22 1 points Save___________ help Internet customers by gathering and sorting information on products and prices.Rack jobbersSyndicated sellersE-referralsShopping agentsBrokersQuestion 23 1 points SaveWhich of the following would violate FCC cross-ownership regulations?Montrose Broadcasting owns newspapers in San Diego and San Francisco.Wine Tarner owns one newspaper and one television station in Omaha.Entertainment Systems owns a newspaper in Orlando and a radio station in Tampa.All of the above.None of the above.Question 24 1 points SaveThe Federal Communications Commission has regulations against ____________, ownership of more than one media outlet in the same market.channelingmulti-plexingcross-ownershipdual ownershipdual distributionQuestion 25 1 points SaveThe type of nonstore marketing used by Tupperware, Amway, and Avon isdirect selling.video marketing.electronic shopping.telemarketing.mail order.Question 26 1 points Save__________ generate large sales volume by offering goods at substantial price reductions. In recent years they have offered higher quality and a few department store services.Discount housesWarehouse clubsFactory outletsOff-price storesCatalog showroomsQuestion 27 1 points SaveIn _________, the telephone is used to sell directly to consumers.direct sellingvideo marketingelectronic shoppingtelemarketingmail orderingQuestion 28 1 points SaveThere are over _______ million retail establishments in the U.S.10.07.55.02.51.6Question 29 1 points Save___________ distribution is a strategy by which a manufacturer grants exclusive rights to distribute or sell a product to a limited number of wholesalers or retailers in a given geographic area.NetworkExclusiveSelectiveMatrixIntensiveQuestion 30 1 points SaveWhich of the following work on commission, do not take title to the goods they sell, and serve as sales reps to manufacturers who need them?merchant wholesalersmerchant shippersdrop shipperrack jobbersagents and brokersQuestion 31 1 points SaveOnly corporations can issue ___________ bonds.municipalserialcallableconvertiblesinking fundQuestion 32 1 points SaveA _______ is a bond for which no specific property is pledged as collateral.bearer bonddebentureregistered bondsecured bondcallable bondQuestion 33 1 points SaveAnimal names have figured prominently in the stock market for years. Which animal listed below do we associate with a rising market?lambtigerbearbullpantherQuestion 34 1 points SaveWhat condition would lead an issuer to call a bond?The coupon payments on the bond are high.Prevailing interest rates are lower than the rate being paid on the bond.Government regulation.The coupon payments on the bond are low.Prevailing interest rates are higher than the rate being paid on the bond.Question 35 1 points SaveWhich of the following are aspects of a short sale by an investor?Borrowing of stock from a broker.Required return of the stock to broker.Hope for falling price on the stock sold short.Money not required up front.All of the above.Question 36 1 points SaveOn the stock pages of The Wall Street Journal, which column informs us as to how many shares of a given stock was sold during the market session reported on?Vol 100sCloseNet Chg52-Week HighDivQuestion 37 1 points SaveAmong municipal bonds, which are backed by the issuer’s taxing power?obligation bondsrevenue bondssupported bondscommonwealth bondstrans-issued bondsQuestion 38 1 points SaveThrough _________, the risk of loss is reduced by spreading the total investment across more stocks.spreadingshortingmargin buyingasset allocationdiversificationQuestion 39 1 points SaveTypically, a state or local government will issue ___________ to fund new elementary and high schools.obligation bondsrevenue bondssupported bondscommonwealth bondstrans-issued bondsQuestion 40 1 points SaveWhich is the most widely cited U.S. stock market index?Standard & Poor’s Composite Indexthe NYSE indexThe New York Times indexDow Jones Industrial AverageNASDAQ composite indexQuestion 41 1 points SaveBuyers fall into two groups: buyers of __________ and buyers of ___________.shopping goods, convenience goodstemporary goods, permanent goodsquick goods, fast goodsconsumer products, industrial productscheap goods, expensive goodsQuestion 42 1 points SaveCompanies often price their products to establish ______________, a company’s percentage of the total market sales for a specific product type.market sharefixed costssales percentagevariable costsbreakeven pointQuestion 43 1 points SaveWhich of the following is most likely to generate profits to cover the expenses of developing new products?price fixingprice skimmingpenetration pricingmarket pricingprice liningQuestion 44 1 points Save___________ is frequently used to stimulate sales.Price fixingPrice discountingPsychological pricingMarket pricingPrice liningQuestion 45 1 points SaveWhich of the following is NOT a function of packaging?Serves as in-store advertisement.Reduces risk of spoilage.Increases the quality of the product inside.Makes the product attractive.Displays the brand name.Question 46 1 points Save___________ refers to the physical container in which a product is sold, advertised, or protected.LabelingBrandingPricingPackagingLiningQuestion 47 1 points SaveThe three types of brand names are ________________ brands.national, licensed, and privatelarge, medium, and smalllocal, regional, and nationalnearer, farther, and farthestnumerical, logistical, and literalQuestion 48 1 points SaveA ____________ is the tangible and intangible features that characterize a product.product lineservice packageservice mixprototypeproduct mixQuestion 49 1 points SaveWhen companies extend their horizons and identify opportunities outside existing product lines, the result isconglomeration.multiple product lines.ubiquity.universalism.global response.Question 50 1 points SaveA product __________ is a group of similar products intended for a group of similar buyers.lineassortmentmixshieldrangeQuestion 51 1 points SaveThe evaluation of all work activities, materials flows, and paperwork to determine the value that they add for customers isquality/cost studies.value-added analysis.benchmarking.getting closer to the customer.statistical process control.Question 52 1 points SaveThrough _________, a firm compares its products and processes with those of competitors or even companies in other lines of business.external benchmarkingquality improvementfailure managementinternal benchmarkingprocess improvementQuestion 53 1 points SaveWhich of the following was used where GTE improved its over-the-phone business?ISO 9000reengineeringROQBack to BasicsSix SigmaQuestion 54 1 points SaveBusiness process reengineering isthe concept that all employees are valuable contributors to a firm’s business, and should be entrusted with decisions regarding their work.the redesigning of business processes to improve performance, quality, and productivity.a program certifying that a factory, laboratory, or office has met the quality management standards of the International Organization for Standardization.the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.a certification program attesting to the fact that a factory, laboratory, or office has improved environmental performance.Question 55 1 points SaveA product with a very low defect rate would have highquality control.quality reliability.quality circles.total quality management.performance quality.Question 56 1 points SaveProductivity measures how much we produce with the _______ we use to produce it.materialslaborresourcesdollarstimeQuestion 57 1 points SaveThe process by which a company analyzes a competitor’s product to identify desirable improvements in its own is calledcompetitive product analysis.benchmarking.quality/cost studies.performance quality analysis.quality reliability analysis.Question 58 1 points SaveEmployee empowerment isthe concept that all employees are valuable contributors to a firm’s business, and should be entrusted with decisions regarding their work.an ongoing commitment to improving products and processes in the pursuit of ever-increasing customer satisfaction.a program certifying that a factory, laboratory, or office has met the quality management standards of the International Organization for Standardization.the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.a certification program attesting to the fact that a factory, laboratory, or office has improved environmental performance.Question 59 1 points SaveA _________ could be used to analyze variations in the weight of cereal boxes.process capability studyvalue-added analysisbenchmarkquality circlequality/cost studyQuestion 60 1 points SaveTotal quality management isthe principle that quality belongs to each person who creates it while performing a job.the consistency of a product’s quality from unit to unit.the performance features offered by a product.the sum of all activities involved in getting high-quality products into the marketplace.the process by which a company analyzes a competitor’s products to identify desirable improvements.Question 61 1 points SaveInformation isthe useful interpretation of facts and figures.names and numbers from a large phonebook.raw facts and figures.proven facts.controlled flow of words for a useful purpose.Question 62 1 points SaveNetscape Navigator, Netscape Communicator, and Internet Explorer aredata communication networks.Web links.browsers.Web servers.connections.Question 63 1 points Save__________ need information to analyze trends in the business environment and overall company performance in order to make long-range plans.Middle managersMembers of the board of directorsTop-level managersFirst-level managersKnowledge workersQuestion 64 1 points SaveThe ________ was originally commissioned by the Pentagon.Fox News ChannelWorld Wide WebNational Public RadioFederal Communications CommissionInternetQuestion 65 1 points Save_________ allows people in remote locations to work simultaneously on one document.VideoconferencingVoice mailData conferencingDigital information serviceAn Internet service providerQuestion 66 1 points SaveA(n) ________________ is a quick-reference, easy-access application of information systems specially designed for instant access by upper-level managers.applicationdecision supportexecutive supportexpertartificial intelligenceQuestion 67 1 points SaveWhich of the following is a database management program?Microsoft AccessWord PerfectLotus 1-2-3A, b, and cNone of the aboveQuestion 68 1 points SaveRobotics is a special category ofapplied technology.human support.executive support.an expert system.artificial intelligence.Question 69 1 points SaveWhich of the following are spreadsheet packages?Lotus 1-2-3Quattro ProMicrosoft ExcelAll of the aboveNone of the aboveQuestion 70 1 points SaveLotus Notes and Netscape Communicator are __________ products.groupwaredata communication networkInternetelectronic conferencingInternet service providerQuestion 71 1 points SaveA nondeposit financial institution that pools funds from it members to provide retirement income for its members is a(n)credit union.securities dealer.insurance company.finance company.pension fund.Question 72 1 points SaveThe _________ funds national improvements by making loans to build roads, schools, power plants, and hospitals.Federal ReserveWorld BankImport-Export BankEuropean UnionInternational Monetary FundQuestion 73 1 points SaveApproximately ________ of all U.S. currency is held by residents of other countries who want the security of U.S. dollars.10 percent20 percent25 percent50 percent75 percentQuestion 74 1 points SaveWhich of the following is a purpose of the International Monetary Fund?Promote the stability of exchange rates.Provide temporary, short-term loans to member countries.Encourage members to cooperate on international monetary issues.Encourage development of a system for international payments.All are purposes of the IMF.Question 75 1 points SaveWhich of the following will result in an increase of the money supply?An increase in reserve requirements.An increase in the discount rate.A decrease in reserve requirements.An increase in taxes.Sale of securities by the Fed.Question 76 1 points SaveDavid has a savings account and his home mortgage with this financial institution. In addition, he periodically receives a dividend check from them. He is invested with acommercial bank.finance company.savings and loan associations.mutual savings bank.credit union.Question 77 1 points SaveWhich of the following is NOT part of the M-2 money supply?time depositsmoney market mutual fundssavings depositsgovernment bondscurrencyQuestion 78 1 points SaveWhere will one find the most avid users of the smart card?United StatesGreat BritainNorth AfricaEurope and AsiaScandinaviaQuestion 79 1 points SaveIf today’s currency wears out it can be replaced, thus demonstrating that it isportable.divisible.stable.durable.valuable.Question 80 1 points SaveIndividual banks that need money can borrow from the Federal Reserve and pay interest on the loans, while the Fed provides storage for commercial banks. The preceding sentence describes which role of the Fed?the government’s bankthe bankers’ bankguardian of the currencycontrolling the money supplyoverseeing the economyQuestion 81 1 points SaveApproximately ________ of the Gross Domestic Product is generated by the service sector.20 percent40 percent60 percent70 percent80 percentQuestion 82 1 points SaveThe typical layout in automobile, food-processing, and computer assembly plants is the _______ layout.processcustomerproductcellularfixed-positionQuestion 83 1 points SaveUsing a _________ chart, managers list all the activities needed to complete a job, estimate the time required for each step, and check the progress of the project against the chart.lead timeSimonMRP IIPERTGanttQuestion 84 1 points SaveLockheed Martin is using _________ to automatically inform their engineers and those of their subcontractors of changes to designs.monthly updatesan electronic bulletin boarda product data management systema newsletterannual meetingsQuestion 85 1 points SaveThe layout that is efficient and inexpensive because it simplifies work tasks and uses unskilled labor is the _______ layout.processcustomerproductcellularfixed-positionQuestion 86 1 points SaveSteve manages people who take various raw materials and pre-made assemblies and puts them together in a unique product that is sold to retail stores. Steve is involved inservice creation.goods creation.plant management.manufacturing management.operations management.Question 87 1 points SaveCheck processing at your local bank is a(n) ___________ system.activehigh-contactlow-contacthigh-interactionlow-interactionQuestion 88 1 points SaveEmployment in the service sector accounts for approximately _________ of jobs in the United States.20 percent40 percent60 percent70 percent80 percentQuestion 89 1 points SaveThe layout where the arrangement of production facilities is design to move families of products through similar flow paths is the _______ layout.processcustomerproductcellularfixed-positionQuestion 90 1 points SaveA _________ chart is a production schedule specifying the sequence and critical path for performing the steps in a project.lead timeSimonMRP IIPERTGanttQuestion 91 1 points SaveThe sending of fliers or other types of printed advertisements to consumer’s homes ismagazines.television.newspaper.radio.direct mail.Question 92 1 points Save__________ indicate(s) that the buyer is interested and pinpoint(s) the parts of the presentation that trouble the buyer.ApproachingDemonstrationsObjectionsClosingQualifyingQuestion 93 1 points SaveTo stimulate sales, drug companies useeducational events.funding for medical research.direct-to-consumer marketing.promotional gifts.all of the above.Question 94 1 points SaveThe owner of Billy Joe’s Barbecue is looking at his advertising, sales promotion, and publicity programs. He is reviewing the company’s ___________ mix.communicationsmarketingpromotionalpublicityconsumer informationQuestion 95 1 points SaveWhen New York Life advertises the safety and security of its products, it is using a _______ advertising strategy.pushpersuasivecomparativepullreminderQuestion 96 1 points SaveAs an example of adding value, Burger King cut back on advertising dollars and used those funds formeat purchases in South America.adding highly trained managers for their units.customer discounts.expansion of the chain.none of the above.Question 97 1 points Save____________ allow companies to rent booths to display and demonstrate products to customers who have a special interest in them.PremiumsDirectional signsPoint-of-purchase displaysTrade showsCoupon incentivesQuestion 98 1 points SaveDuring the postpurchase evaluation stage of the consumer buying process, the most effective promotional tool(s) is/areadvertising and sales promotion.personal selling.advertising and publicity.sales promotion and personal selling.advertising and personal selling.Question 99 1 points SaveWhen selling new, innovative products the type of selling most likely needed isorder processing.sales promotions.creative selling.missionary selling.public relations.Question 100 1 points SaveWhich of the following make it easier for customers to find a product and eliminate competitors’ products from consideration?contestsPOP displayscouponpremiumstrade shows