When preparing a budget for the first time, many small businessesseek help from a(n)
a. | financial analyst | c. | established permanent employee |
b. | established corporation | d. | accountant |
| | | |
Changing something from one form to another so it can be consumedor used to make something else is known as
a. | extracting | c. | marketing |
b. | processing | d. | evolution |
a. | information | c. | financing |
b. | preparation | d. | an idea |
a. | TRUE | b. | FALSE |
a. | TRUE | b. | FALSE |
The part of the profits that are paid to shareholders is called
a. | excess profit | c. | a dividend |
b. | a surplus | d. | none of the above |
a. | Prosperity | c. | Depression |
b. | Recession | d. | Recovery |
a. | natural resources | c. | capital gains |
b. | capital resources | d. | human resources |
a. | logic | c. | feelings |
b. | facts | d. | none of the above |
a. | TRUE | b. | FALSE |
Considering the needs of customers when developing new products orservices is an important part of the
a. | Marketing concept | c. | Target Market |
b. | Buying motive | d. | Distribution channel |
a. | custom | c. | market |
b. | directed | d. | military |
A franchise can be operated as a proprietorship, partnership, orcorporation.
a. | TRUE | b. | FALSE |
a. | TRUE | b. | FALSE |
a. | leader | c. | citizen |
b. | worker | d. | consumer |
A business that takes natural resources and converts them toconsumer goods is a
a. | manufacturer | c. | marketer |
b. | extractor | d. | wholesaler |
a. | goods | c. | service |
b. | product | d. | none of the above |
a. | assets and liabilities | c. | liabilities and budgets |
b. | financial plans and budgets | d. | net incomes |
a. | TRUE | b. | FALSE |
a. | manufacturing | c. | producing goods |
b. | service | d. | extractor |
Ifone store must lower its prices in response to another store’s advertised lowprices, it is facing the effects of ________________.
a. | productivity | c. | standard of living |
b. | supply | d. | competition |
a. | lower cost of production | c. | lower prices for consumers |
b. | higher standards of living | d. | all of the above |
a. | Pricing | c. | Distribution |
b. | Promotion | d. | Marketing |
a. | If supply goes up and demand goes down, prices go up. |
b. | If supply goes down and demand goes up, prices stay about the same. |
c. | If demand goes up and supply goes down, prices go up. |
d. | If demand goes down and supply goes up, prices go up. |
a. | $20,000 | c. | $35,000 |
b. | $25,000 | d. | none of the above |