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MGT 8803 TESTS COMPILATION BUNDLE
MGT 8803 TESTS COMPILATION BUNDLE
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[Show more]A business owned by a single owner correct answer: proprietorship 
 
A business owned by more than one owner correct answer: partnership 
 
In ___ & ___, the business and the owner(s) are legally one entity - there is unlimited liability and no taxation. correct answer: proprietorship and partner...
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Add to cartA business owned by a single owner correct answer: proprietorship 
 
A business owned by more than one owner correct answer: partnership 
 
In ___ & ___, the business and the owner(s) are legally one entity - there is unlimited liability and no taxation. correct answer: proprietorship and partner...
1x sold
The management process correct answer: planning, organizing, leading, controlling 
 
planning correct answer: setting performance objectives and deciding how to achieve them 
 
organizing correct answer: arranging tasks, people, and other resources to accomplish the work 
 
leading correct answer...
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Add to cartThe management process correct answer: planning, organizing, leading, controlling 
 
planning correct answer: setting performance objectives and deciding how to achieve them 
 
organizing correct answer: arranging tasks, people, and other resources to accomplish the work 
 
leading correct answer...
Shareholders only receive money after what is done? correct answer: suppliers have been paid 
 
wages to workers have been paid. 
 
interest to bondholders have been paid. 
 
taxes have been paid. 
 
Capital Budgeting correct answer: The process of determining exactly which assets to invest in and...
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Add to cartShareholders only receive money after what is done? correct answer: suppliers have been paid 
 
wages to workers have been paid. 
 
interest to bondholders have been paid. 
 
taxes have been paid. 
 
Capital Budgeting correct answer: The process of determining exactly which assets to invest in and...
responsive supply chains correct answer: Speed Focused. 
 
Innovative Products 
 
Efficient Supply Chain correct answer: Cost Focused 
 
Good for Functional Products 
 
Functional Products correct answer: Predictable demand 
Low inventory cost 
long product life 
low inventory cost 
low product v...
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Add to cartresponsive supply chains correct answer: Speed Focused. 
 
Innovative Products 
 
Efficient Supply Chain correct answer: Cost Focused 
 
Good for Functional Products 
 
Functional Products correct answer: Predictable demand 
Low inventory cost 
long product life 
low inventory cost 
low product v...
Proprietorship correct answer: Single Owner; unlimited liability & no taxation 
 
Partnership correct answer: More than one owner; unlimited liability & no taxation 
 
Corporation correct answer: A business owned by stockholders (shareholders -> board of directors --> top managers); limited...
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Add to cartProprietorship correct answer: Single Owner; unlimited liability & no taxation 
 
Partnership correct answer: More than one owner; unlimited liability & no taxation 
 
Corporation correct answer: A business owned by stockholders (shareholders -> board of directors --> top managers); limited...
Promotion Types correct answer: 1. personal selling 
2. mass selling 
3. sales promotion 
 
Marketing Mix Levers correct answer: 4 P's - product, place, price, promotion 
 
Accumulating correct answer: Collecting products from many small producers 
 
Acquisition correct answer: where the compan...
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Add to cartPromotion Types correct answer: 1. personal selling 
2. mass selling 
3. sales promotion 
 
Marketing Mix Levers correct answer: 4 P's - product, place, price, promotion 
 
Accumulating correct answer: Collecting products from many small producers 
 
Acquisition correct answer: where the compan...
cash correct answer: Current Asset (BS) 
 
Deferred Revenue correct answer: Current Liability (BS) 
 
Treasury Stock correct answer: Contra-Equity (BS) 
 
Cost of Goods Sold correct answer: Expense (IS) 
 
Interest Expense correct answer: Expense (IS) 
 
Sales correct answer: Revenue (IS) 
 
S...
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Add to cartcash correct answer: Current Asset (BS) 
 
Deferred Revenue correct answer: Current Liability (BS) 
 
Treasury Stock correct answer: Contra-Equity (BS) 
 
Cost of Goods Sold correct answer: Expense (IS) 
 
Interest Expense correct answer: Expense (IS) 
 
Sales correct answer: Revenue (IS) 
 
S...
Unit of measurement 
3. Going concern 
4. Periodicity 
5. Materiality 
 
What does materiality mean? correct answer: The only information that needs to be disclosed in financial statements is information that will be useful for those who rely on the financial statements to make decisions. 
 
What a...
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Add to cartUnit of measurement 
3. Going concern 
4. Periodicity 
5. Materiality 
 
What does materiality mean? correct answer: The only information that needs to be disclosed in financial statements is information that will be useful for those who rely on the financial statements to make decisions. 
 
What a...
Why are financial ratios used? correct answer: Used to enable financial statement users to examine how a firm has performed relative to its peers and relative to its own historical performance. 
 
What does differences in ratios for the two companies in the same industry indicate? correct answer: ...
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Add to cartWhy are financial ratios used? correct answer: Used to enable financial statement users to examine how a firm has performed relative to its peers and relative to its own historical performance. 
 
What does differences in ratios for the two companies in the same industry indicate? correct answer: ...
3 factors that effect planning of organization correct answer: 1) organization level (more heirarchy better with more stability) 
2) degree of uncertainty (more uncertain, shorter planning horizon) 
3) length of future commitments (planning horizon should be as long as length of longest commitment ...
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Add to cart3 factors that effect planning of organization correct answer: 1) organization level (more heirarchy better with more stability) 
2) degree of uncertainty (more uncertain, shorter planning horizon) 
3) length of future commitments (planning horizon should be as long as length of longest commitment ...
Forms of Businesses: 
Proprietorship & Partnership 
• ____________liability 
• No ____________ (on the business; the owner, however days pay taxes) 
 
Corporation (Shareholders -> Board of Directors -> Top Managers) 
• ____________ liability 
• Taxation (corporations pay taxes, sh...
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Add to cartForms of Businesses: 
Proprietorship & Partnership 
• ____________liability 
• No ____________ (on the business; the owner, however days pay taxes) 
 
Corporation (Shareholders -> Board of Directors -> Top Managers) 
• ____________ liability 
• Taxation (corporations pay taxes, sh...
Which one of the following is reported on the Balance Sheet at current market value? 
 
 
a) Accounts Receivable 
b) Buildings 
c) Treasury Stock 
d) Land 
e) Marketable Securities correct answer: e) Marketable Securities 
 
The form of business organization that is legally separate from its owners...
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Add to cartWhich one of the following is reported on the Balance Sheet at current market value? 
 
 
a) Accounts Receivable 
b) Buildings 
c) Treasury Stock 
d) Land 
e) Marketable Securities correct answer: e) Marketable Securities 
 
The form of business organization that is legally separate from its owners...
Balance Sheet correct answer: A financial statement that reports assets, liabilities, and owner's equity on a specific date. 
 
Income Statement correct answer: A financial statement showing the revenue and expenses for a fiscal period. 
 
What is net income? correct answer: Revenues - Expenses ...
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Add to cartBalance Sheet correct answer: A financial statement that reports assets, liabilities, and owner's equity on a specific date. 
 
Income Statement correct answer: A financial statement showing the revenue and expenses for a fiscal period. 
 
What is net income? correct answer: Revenues - Expenses ...
Ending Retained Earnings correct answer: beginning retained earnings + net income - dividends 
 
Statement of Stockholders' Equity correct answer: Beginning Stockholders Equity + Net Income - Dividends + Issuance of Capital Stock 
 
Net Income correct answer: Revenues Earned -Expenses Incurred 
...
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Add to cartEnding Retained Earnings correct answer: beginning retained earnings + net income - dividends 
 
Statement of Stockholders' Equity correct answer: Beginning Stockholders Equity + Net Income - Dividends + Issuance of Capital Stock 
 
Net Income correct answer: Revenues Earned -Expenses Incurred 
...
What is planning? correct answer: Identifying goals and strategies to get to those goals. 
 
What was the focus of classical management? correct answer: Productivity, making workers and organizations more efficient. 
 
What are Fayol's four functions of management? correct answer: 1. Planning (d...
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Add to cartWhat is planning? correct answer: Identifying goals and strategies to get to those goals. 
 
What was the focus of classical management? correct answer: Productivity, making workers and organizations more efficient. 
 
What are Fayol's four functions of management? correct answer: 1. Planning (d...
A balance sheet shows: 
a. Dividends distributed to stockholders 
b. Operating expenses for the period 
c. Earnings per share for the period 
d. Claims owners have against the assets of the firm 
e. Sales revenue correct answer: d. Claims owners have against the assets of the firm 
 
Which of the ...
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Add to cartA balance sheet shows: 
a. Dividends distributed to stockholders 
b. Operating expenses for the period 
c. Earnings per share for the period 
d. Claims owners have against the assets of the firm 
e. Sales revenue correct answer: d. Claims owners have against the assets of the firm 
 
Which of the ...
Marketing Strategy correct answer: Finding opportunities and developing profitable strategies to capitalize on those opportunities: 
 
Specifies a target market and related marketing mix. 
 
5 Cs of Marketing correct answer: Customer: buyers with needs the company aims to fulfill 
Company: goods o...
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Add to cartMarketing Strategy correct answer: Finding opportunities and developing profitable strategies to capitalize on those opportunities: 
 
Specifies a target market and related marketing mix. 
 
5 Cs of Marketing correct answer: Customer: buyers with needs the company aims to fulfill 
Company: goods o...
Marketing correct answer: the creation and satisfaction of demand for a product or service 
 
Strategy correct answer: a set of ideas that outline how a product line or brand will achieve its objectives 
 
Tactic correct answer: a specific action or method that contributes to achieving a goal 
 
...
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Add to cartMarketing correct answer: the creation and satisfaction of demand for a product or service 
 
Strategy correct answer: a set of ideas that outline how a product line or brand will achieve its objectives 
 
Tactic correct answer: a specific action or method that contributes to achieving a goal 
 
...
What two things does financial accounting consist of correct answer: measuring and reporting 
 
What forms of businesses do we measure and report for? correct answer: Proprietorship, partnership, corporation 
 
What are separates a proprietorship and a partnership from a corporation correct answer...
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Add to cartWhat two things does financial accounting consist of correct answer: measuring and reporting 
 
What forms of businesses do we measure and report for? correct answer: Proprietorship, partnership, corporation 
 
What are separates a proprietorship and a partnership from a corporation correct answer...
What are the three forms of business? correct answer: Proprietorship, partnership, and corporations 
 
A proprietorship/partnership has limited liability? correct answer: False 
 
What are the accounting assumptions? correct answer: Separate entity, consistent unit of measurement (currency), goin...
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Add to cartWhat are the three forms of business? correct answer: Proprietorship, partnership, and corporations 
 
A proprietorship/partnership has limited liability? correct answer: False 
 
What are the accounting assumptions? correct answer: Separate entity, consistent unit of measurement (currency), goin...
Shareholders correct answer: owners of a corporation; residual claimants 
 
Primary Financial Goal of Public Corporation correct answer: To create economic value for its shareholders 
 
Capital Budgeting/Expenditure/Investment Decision correct answer: process of determining exactly which assets t...
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Add to cartShareholders correct answer: owners of a corporation; residual claimants 
 
Primary Financial Goal of Public Corporation correct answer: To create economic value for its shareholders 
 
Capital Budgeting/Expenditure/Investment Decision correct answer: process of determining exactly which assets t...
What are the (5) assumptions of financial accounting? correct answer: 1. Separate entity 
2. Unit of measurement 
3. Going concern 
4. Periodicity 
5. Materiality 
 
What does materiality mean? correct answer: The only information that needs to be disclosed in financial statements is information t...
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Add to cartWhat are the (5) assumptions of financial accounting? correct answer: 1. Separate entity 
2. Unit of measurement 
3. Going concern 
4. Periodicity 
5. Materiality 
 
What does materiality mean? correct answer: The only information that needs to be disclosed in financial statements is information t...
Cash correct answer: Current Asset 
 
Interest Expense correct answer: Expense 
 
Sales Returns correct answer: Contra-Revenue 
 
Wages Payable correct answer: Current Liability 
 
Taxes Payable correct answer: Current Liability 
 
Marketable Securities correct answer: Current Asset 
 
Mortgag...
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Add to cartCash correct answer: Current Asset 
 
Interest Expense correct answer: Expense 
 
Sales Returns correct answer: Contra-Revenue 
 
Wages Payable correct answer: Current Liability 
 
Taxes Payable correct answer: Current Liability 
 
Marketable Securities correct answer: Current Asset 
 
Mortgag...
Long-term decisions correct answer: Strategic 
 
Medium-term decisions correct answer: Tactical 
 
Short-term decisions correct answer: Operational 
 
Capabilities that drive performance and increase profit correct answer: Products and services features 
Time to market 
Costs 
Quality 
Ability t...
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Add to cartLong-term decisions correct answer: Strategic 
 
Medium-term decisions correct answer: Tactical 
 
Short-term decisions correct answer: Operational 
 
Capabilities that drive performance and increase profit correct answer: Products and services features 
Time to market 
Costs 
Quality 
Ability t...
Which of the following groups is commonly thought of as a stakeholder in the financial reporting process? 
a) Investors 
b) Banks 
c) Labor Unions 
d) Customers 
e) All of the above correct answer: e) All of the above 
 
What is an important way in which auditors help to enhance the credibility of ...
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Add to cartWhich of the following groups is commonly thought of as a stakeholder in the financial reporting process? 
a) Investors 
b) Banks 
c) Labor Unions 
d) Customers 
e) All of the above correct answer: e) All of the above 
 
What is an important way in which auditors help to enhance the credibility of ...
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