Final Exam P2

According to the LinkedIn learning video, a marketing strategyDefines customers you're going after and how you'll influence their beliefs.According to the LinkedIn learning video, marketing is aboutChanging beliefs in the minds of customersAccording to the LinkedIn learning video, marketing isCentral in coordinating and connecting several organizational functionsThe lynda.com video suggest that managers frequently deal with the tension of representing the employee perspective and the organizational perspective. True or falseTrueThe lynda.com video emphasizes all of the following rules except:ManipulatorThe lynda.com video emphasizes that management has moved away from managing primarilyBy hierarchy, authority, and powerThe linda.com video defines management skills and practices as falling into all of the following exceptManaging egoUse the following figures to calculate when your ACU organization will break even on selling sacks of fair trade coffee beans Variable costs: 5$ Price: 10$ Fixed costs: 100$20$If all other items remain the same, but your variable cost increased because one of your suppliers raised prices, your break even wouldIncreasePut the group problem-solving steps below in the correct order by matching the steps on the right with the order on the left1. Define the problem 2. Gather data 3. Identify causes 4 identify solutions 5. Identify who does what 6. Follow up——————-————————In most developed countries, the business structures are identical to enable international trade to occur without obstacles. True or falseTrueA holding company owns and oversee other companies. And example would be First Financial Bank shares which owns an overseas First Financial branch banks. True or falseTrueIn Texas, except for a sole proprietor ship, you would register a new business with theTexas secretary of states officeA producer cooperative is a special form of organization owned byEmployeesIn the United States, a 501(c)3 is aNonprofit corporationThe main difference between private and public companies is thatInvestors can't buy stock in private companies through exchangesOffshore corporations are controversial because theyAllow allow corporations to avoid paying taxes in the companies home countryAll of the following are entrepreneurial characteristics, except:aversion to riskThe majority of new small business owners rely heavily on ___________to finance their start upsPersonal sources, including credit cardsWhich of the following is true about new business survival rates?Many new businesses fail during their first six years in existence.The global entrepreneurship monitor shows that people living in high income countries tend to be much more willing to start their own businesses than people who live in low income countries. True or falseFalseA business planProvides a way to keep a team focused on successVenture capitalists__________.Fund high potential new companies in exchange for a share of ownershipSmall businesses typically have lower overhead costs compared with larger firms. True or falseTrueA funding source that makes it easier for entrepreneurs to get money with favorable terms is:Peer to peer lendingThe failure rate of a franchise is significantly higher than the rate for starting a business from scratch. True or falseFalseAngel investors are peer to peer networks which provide financing to promising start up companies. True or falseFalseAsking, "what might I remove?" From a product would be an example of which SCAMPER technique?Eliminate, minify.You work for a seed company and are trying to reduce non-biodegradable packaging. If you replace plastic packaging with paper, you'd be using which SCAMPER technique?SubstituteInstead of requiring you to drive to a car rental location, enterprise brings the car to you. This is an example of which SCAMPER technique?ReverseWhich letter in SCAMPER would be the best label for asking "what if we made it bigger?"MJim and K stice's advice for investing isDiversify and invest for the long termHey budget has two basic elements check bothRecord/write down your income and expenses, develop a written planA line of credit is a financial arrangement between a firm in a bank in which the bank preapproved credit up to specified limit, provided that the firm maintains an acceptable credit rating True or falseTrueEquity financing is provided by_________:Owners, debt financing is provided by creditorsKey numbers that financial managers use to calculate ratios usually come from the firm's:balance sheet and income statementRetained earnings are the profit a firm reinvest and are often a major source of long-term funds. True or falseTrueFinancial managers use________ to assess the financial strengths and weaknesses of their firmRatio analysisThe two primary sources of equity financing are_______:Money invested by stockholders and retained earningsAccounting uses the past to help us make decisions about the future. True or falseTrueAccounting is:All of these answers in the list are correct, useful, quantitive, financial.Preservation of a systematic, quantitive record of an activity is calledBookkeepingWhich financial statement shows how much a company has and how much it owes?balance sheetIt may seem like a strange question, but how many sets of books does a large US corporation keep?ThreeFinance includes all of the following except:How to apply GAAP standards to appropriately document and account for resourcesThe following statements about the S&P 500 are true, except:All of the answers in this list are correct, the S&P 500 is an index fund, the S&P 500 is made of the largest 500 firms in the US, the S&P 500 is a common benchmark investment managers might compare their investments toWhile traditional and large banks make money through loans receivables, large banks also make money through:investmentsWhich of the following statements about financial institutions is false?Financial institutions do not include insurance companies."Bad debts" In banking areLoans that a bank does not expect to be repaidAn investment bank does all of the following except:providing loans to small businessesFinance questions primarily are entertained byAll the answers in this list are correct, entrepreneurs, intermediaries, investors.Which of the following statements is false about limited liability company's LLC?They are limited to one ownerWhich of the following is a disadvantage of a sole proprietorship?A soleproprietor ship lacks permanenceWhy franchise? Advantages to franchises include:Less risk and easier access to fundingA_________merger is the combination of firms which have been making or selling similar goodsHorizontalDisadvantages of franchising include all but which of the following?The franchisee has considerable control over business proceduresCompared to a sole proprietorship, one advantage of a general partnership is that it isLikely to have a stronger financial baseIn a limited partnership, the limited partner:typically does not actively participate in the management of the partnership.A corporation is the most common type of business organization in the United States. True or falseFalseA limited partnership is an arrangement between two or more individuals to operate a business as co-managers, equally involved in day-to-day operations. True or falseFalseBalance sheet reflect three accounts assets, liabilities, and cost of goods sold. True or falseFalseThe FASB in the I ASB work together to provide external stakeholders with accurate and consistent financial statements, worldwide. True or falseTrueThe major responsibilities of financial accounting is the preparation of the:Balance sheet, income statement, and a statement of cash flow 's.The Accural basis of accounting recognizes revenues when they are earned, regardless of whether cash has been received. True or falseTrueCurrent liabilities are debts that will come do within a year of the data on the balance sheet. True or falseTrueOwners equity representsClaims owners have a firms assetsWhich of the following indicates what a firm owes it's creditors?LiabilitiesAssets equals liabilities plus net income : True or falseFalseA firms current liabilities:are due to lenders within a year.A balance sheet reports the financial position of a firm at a particular point in time by identifying and reporting the value of the firms assets, liabilities, and owners equity. True or falseTrueWhich of the following statements is not true of external auditors. THEY:Ensure a company is making a profitWhich of the following is an intangible asset?CopyrightIn general, the riskier an investment alternative is, the lower it's expected return. True or falseFalseThe firms that issue stocks and bonds receive an ongoing flow of funds when their securities are traded in the secondary markets. True or falseFalseWhen an investment banker agrees to purchase all shares of a public offering at an agreed-upon price, it is calledUnderwritingNASDAQ is a physical location where brokers meet to buy and sell stocks for their clients. True or falseFalseThis index tracks stock prices of 30 large, well known US companies.DJIAWhich of these statements is false about the S&P 500?The S&P 500 tracks fewer companies than the DJIA.And initial________ is the first time a corporation issues stock that may be purchased by the general public.Public offeringFinancial intermediaries that help firms issue new securities to raise financial capital are calledInvestment banksWhich of the following statements is false about credit unions?They are for profit businessesAlthough all of the statements below might be helpful in personal financial planning, select the five tips that Jim and Kay Stice recommend:Be wary of clever or complex investment schemes, keep fixed costs low, spend less than you make, create and use a budget, save early and save often.