Exam (elaborations)
Major Field Test Business Study Set.
- Course
- Institution
Major Field Test Business Study Set.
[Show more]
Content preview
Name: Score:197 Multiple choice questions
Definition 1 of 197
A series of equal dollar payments that continue for a specific number of years.
Depreciation
Income Statement
Perpetuity
Annuity
Definition 2 of 197
Measures the number of times interest expense is converted to income, and if the company
can pay its interest expense using the profits generated. EBIT is earnings before interest and
taxes. (Leverage Ratio)
_____ = EBIT / Interest Expense
Gross Profit Margin
Times Interest Earned
Return On Assets
Net Income Margin
Definition 3 of 197
Employees should be given the necessary level of freedom to create and carry out plans.
Order (management)
Initiative (Management)
Remuneration (management)
Scalar chain (management)
,Definition 4 of 197
Gauges a company's liquidity. (Liquidity Ratio)
_____ = (Cash + Marketable Securities + Accounts receivable) / Current Liabilities
Gross profit margin
Quick Ratio (Acid Test Ratio)
Current ratio
Debt to equity ratio
Definition 5 of 197
Do not typically engage in transactions with a company and thus are not essential for its
survival.
Media, trade associations, special interest groups, community
Secondary Stakeholders
Corporate Governance
Manufacturing Overhead
Primary Stakeholders
Definition 6 of 197
Extent that people value duty to groups to which they belong, and value group harmony.
Collectivists tend to identify themselves by group membership and value harmonious
relationships with their members.
Collectivism
Sustainability
Interdependence
Individualism
,Definition 7 of 197
The focal point of financial management in a firm is:
the dollars profits earned by the firm.
individuals buying and selling the stock.
the creation of value for shareholders.
the number and types of products or services provided by the firm.
Definition 8 of 197
Revenue is recognized in the accounting period in which the revenue is earned, regardless of
when the associated revenue is received. (Recorded when the sale is made, not when it is paid
for.)
Accrual Basis Accounting
Periodic Inventory Accounting
Income Statement
Depreciation
Definition 9 of 197
Consists of the rules,orders, and decisions of administrative agencies. These agencies are often
given rule making, investigation, and enforcement powers.
Administrative Law
Criminal Law
Civil Law
Statutes
, Definition 10 of 197
"Shareholder wealth" in a firm is represented by:
the total assets owned by the firm.
the number of shares issued by the firm.
the annual revenue generated by the firm.
the market price per share of the firm's common stock.
Definition 11 of 197
Beginning Inventory + Purchases = Goods
Inventory Turnover
Fundamental Attribution Error
The Creation of Value for Shareholders.
Basic Inventory Equation for Goods
Definition 12 of 197
A civil wrong committed against a individual. (negligence, malpractice, etc.)
Civil Law
Tort
Income Statement
Contract
Definition 13 of 197
The belief that power and status differences should exist in an organization.
Individualism
Democracy
Authoritarianism
Totalitarianism
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller selftest. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78252 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now