A local bookstore uses an organizational structure in which authority and responsibility are jointly held by the entire group rather than by a single manager. This company is using a ________ organizational structure.
The person who directs a firm's management information systems and related computer operations is often called the ________.
Chief Financial Officer
A database can be best described as....
A centralized integrated collection of the organization's data resources
An information system that provides relevant data to help businesspeople choose the appropriate course of action is called a(n) ________
Decision support System
Mari is on a business trip. From her hotel, she uses her computer to access her company's network, checking her e-mail and calendar. Mari's company has a(n) ________.
Deciding how to prevent system failures along with the ability to continue operating if computer systems fail is called ________.
Disaster Recovery Planning
An outside supplier used to provide computer and application support for managing an information system is known as ________.
An application service provider
Professionals who are responsible for gathering, recording, reporting, and interpreting the financial information of an organization are ________.
Morgan works for a travel agency. Her job involves preparing financial reports and interpreting those reports to provide information for decision making. Which title is appropriate for Morgan's job?
Ricardo is a loan officer for a bank and is reviewing the financial statements of a prospective borrower. As a user of accounting information, Ricardo is most interested in using this information ________.
Evaluate credit risk
Accountant typically perform all of the following tasks for a business EXCEPT:
Develop the firms marketing strategy
The procedure used by accountants to convert transactions into financial statements is called ________.
The accounting cycle
The rules followed by accountants when preparing financial statements are referred to as...
Generally Accepted Accounting Practices (GAAP)
Which of the following financial statements shows a firms's financial position at a particular date?
Kwane wants to assess his firm's ability to meet its short-term obligations. Which of the following ratios are the most relevant?
_____ ratios are designed to indicate how successful a firm is in terms of its earnings as compared with its assets or owners equity.
Daniel wishes to create a financial blueprint for a future period that reflects such items as expected sales revenues, operating expenses, and cash receipts and disbursements. Daniel wants to create a(n) ________.
________ is the ability of directing or inspiring others to perform activities designed to achieve organizational objectives.
Decisions involving simple, common, frequently occurring problems for which solutions have already been determined are ________ decisions.
A written explanation of an organization's business intentions and aims is called a(n) ___
Which type of planning determines the primary objectives of an organization, and then acts and allocates resources to achieve those objectives?
________ planning guides the current and near-term activities required to implement overall strategies.
________ is a perception of marketplace needs and the methods an organization can use to satisfy them.
Management is the process of achieving ________ through people and other resources.
The part of the federal government responsible for monetary policy is ________.
The Federal Reserve System
During an economic recession, consumer spending ________ and unemployment ________.
Under communism, ______
profits are not acceptable and the right to choose one's occupation is widely restricted
Incentives to motivate employees to perform at their highest level are strongest in ________ systems.
What are the three main types of economic systems?
capitalism, planned economies, and mixed economies
The curve that shows the relationship between different prices and the quantity requested at each price is the ________ curve.
________ is the study of the economic choices of individual consumers, families, or businesses.
Which of the following fields is concerned with understanding the choices people make in using scarce resources?
At the federal level, the _________________ investigates suspicions of unethical or illegal behavior by publicly traded firms.
The public demand that businesses give proper consideration to consumer wants and needs in making its decisions is known as ________.
A strategy that promotes environmentally friendly products and production methods is called ________.
A formal procedure that identifies and evaluates all company activities relating to social issues is known as a(n) ________.
Which of the following would be LEAST likely to be a factor in evaluating a firm's social performance?
Holding company-sponsored social events
Bob takes responsibility for an error made by his assistant on a project. Bob has shown ________.
Individuals who focus only on their own interests when making decisions are at the ________ stage of ethical development.
When management considers social and economic issues in decision making, the company is practicing ________.
When management adheres to a set of standards involving the right and wrong actions arising in the work environment, management is practicing ________.
________ is the ability to perceive marketplace needs and what an organization must do to satisfy these needs.
For today's managers, which of the following is LEAST important?
The ability to work by strict rules
Nurturing customer loyalty by gathering knowledge of customer needs and preferences is an approach known as ________.
Concentrating on building and promoting products in hopes that enough customers will buy them in order to cover costs and earn acceptable profits is called ________.
Citizens in a private enterprise system have the right to choose their employment, purchases, and investments, illustrating their right to ________.
Freedom of Choice
By offering a lifetime warranty on its products, Warner Electronics has set itself apart from its competition. This difference is known as Warner Electronics' ___________.
In his book The Wealth of Nations, the Scottish economist Adam Smith was the first person to describe ________.
Technology, tools, information, and physical facilities for the operation of a business are examples of ________.