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Exam (elaborations)

BUSN 11 Final Exam Questions With Revised Answers

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  • Course
  • BUSN 11
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  • BUSN 11

©THEBRIGHTSTARS 2024 where women and minorities are underrepresented, and establishing specific hiring and promotion goals, with target dates, for addressing the discrepancy agenda - answera calendar, containing both specific and vague items, that covers short-term goals and long-term objectiv...

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  • September 4, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • BUSN 11
  • BUSN 11
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©THEBRIGHTSTARS 2024



BUSN 11 Final Exam Questions With
Revised Answers

Absolute advantage - answer✔✔a monopoly that exists when a country is the only source of an
item, the only producer of an item, or the most efficient producer of an item

Accountability - answer✔✔the principle that employees who accept an assignment and the
authority to carry it out are answerable to a superior for the outcome

Accounting - answer✔✔the recording, measurement, and interpretation of financial information

Accounting Cycle - answer✔✔the four-step procedure of an accounting system: examining
source documents, recording transactions in an accounting journal, posting recorded transactions,
and preparing financial statements

Accounting Equation - answer✔✔assets equal liabilities plus owners' equity

Accounts Payable - answer✔✔the amount a company owes to suppliers for good and services
purchased with credit

Accounts Receivable - answer✔✔money owed a company by its clients or customers who have
promised to pay for the products at a later date

accured expenses - answer✔✔all unpaid financial obligations incurred by an organization

Personal Financial Planning - answer✔✔the purchase of one company by another, usually by
buying its stock

Administrative Managers - answer✔✔those who manage an entire business or a major segment
of a business; they are not specialists but coordinate the activities of specialized managers

Advertising - answer✔✔a paid form of nonpersonal communication transmitted through a mass
medium, such as television commercials or magazine advertisements

advertising campaign - answer✔✔designing a series of advertisements and placing them in
various media to reach a particular target market

Affirmative Action Programs - answer✔✔legally mandated plans that try to increase job
opportunities for minority groups by analyzing the current pool of workers, identifying areas

, ©THEBRIGHTSTARS 2024


where women and minorities are underrepresented, and establishing specific hiring and
promotion goals, with target dates, for addressing the discrepancy

agenda - answer✔✔a calendar, containing both specific and vague items, that covers short-term
goals and long-term objectives

analytical skills - answer✔✔the ability to identify relevant issues, recognize their importance,
understand the relationships between them, and perceive the underlying causes of a situation

annual report - answer✔✔summary of a firm's financial information, products, and growth plans
for owners and potential investors

Arbitration - answer✔✔settlement of a labor/ management dispute by a third party whose
solution is legally binding and enforceable

personal net worth - answer✔✔legal documents that set forth the basic agreement between
partners

Asia-Pacific Economic Cooperation (APEC) - answer✔✔an international trade alliance that
promotes open trade and economic and technical cooperation among member nations

asset utilization ratios - answer✔✔ratios that measure how well a firm uses its assets to generate
each $1 of sales

Assets - answer✔✔a firm's economic resources, or items of value that it owns, such as cash,
inventory, land, equipment, buildings, and other tangible and intangible things

Association of Southeast Asian Nations (ASEAN) - answer✔✔a trade alliance that promotes
trade and economic integration among member nations in Southeast Asia

attitude - answer✔✔knowledge and positive or negative feelings about something

automated clearinghouses (ACHs) - answer✔✔a system that permits payments such as deposits
or withdrawals to be made to and from a bank account by magnetic computer tape

Automated Teller Machine (ATM) - answer✔✔the most familiar form of electronic banking,
which dispenses cash, accepts deposits, and allows balance inquiries and cash transfers from one
account to another

Balance of payments - answer✔✔the difference between the flow of money into and out of a
country

balance of trade - answer✔✔the difference in value between a nation's exports and its imports

Balance Sheet - answer✔✔a "snapshot" of an organization's financial position at a given moment

, ©THEBRIGHTSTARS 2024


behavior modification - answer✔✔changing behavior and encouraging appropriate actions by
relating the consequences of behavior to the behavior itself

Benefits - answer✔✔nonfinancial forms of compensation provided to employees, such as
pension plans, health insurance, paid vacation and holidays, and the like

Blogs - answer✔✔web-based journals in which writers editorialize and interact with other
internet users

board of directors - answer✔✔a group of individuals, elected by the stockholders to oversee the
general operation of the corporation, who set the corporation's long-range objectives

Bonds - answer✔✔debt instruments that larger companies sell to raise long-term funds

Bonuses - answer✔✔monetary rewards offered by companies for exceptional performance as
incentives to further increase productivity

Boycott - answer✔✔an attempt to keep people from purchasing the products of a company

Branding - answer✔✔the process of naming and identifying products

Bribes - answer✔✔payments, gifts, or special favors intended to influence the outcome of a
decision

Brokerage Firms - answer✔✔firms that buy and sell stocks, bonds, and other securities for their
customers and provide other financial services

Budget - answer✔✔an internal financial plan that forecasts expenses and income over a set
period of time

Budget Deficit - answer✔✔The condition in which a nation spends more than it takes in from
taxes

Business - answer✔✔individuals or organizations who try to earn a profit by providing products
that satisfy people's needs

buisness ethics - answer✔✔Principles and standards that determine acceptable conduct in
business

buisness plan - answer✔✔A precise statement of the rationale for a business and a step-by-step
explanation of how it will achieve its goals

business products - answer✔✔products that are used directly or indirectly in the operation or
manufacturing processes of businesses

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