BUSN 11 FINAL EXAM WITH COMPLETE ANSWERS ALL CORRECT
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BUSN 11
BUSN 11 FINAL EXAM WITH COMPLETE ANSWERS ALL CORRECT
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 service...
BUSN 11 FINAL EXAM WITH COMPLETE
ANSWERS ALL CORRECT
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
buying behavior - Answer-the decision processes and actions of people who purchase
and use products
capacity - Answer-the maximum load that an organizational unit can carry or operate
Capital Budgeting - Answer-the process of analyzing the needs of the business and
selecting the assets that will maximize its value
capitalism (free enterprise) - Answer-an economic system in which individuals own and
operate the majority of businesses that provide goods and services
Cartel - Answer-a group of firms or nations that agrees to act as a monopoly and not
compete with each other, in order to generate a competitive advantage in world markets
,cash flow - Answer-the movement of money through an organization over a daily,
weekly, monthly, or yearly basis
centralized organization - Answer-a structure in which authority is concentrated at the
top, and very little decision-making authority is delegated to lower levels
Certificates of Deposit (CDs) - Answer-Savings accounts that guarantee a depositor a
set interest rate over a specified interval as long as the funds are not withdrawn before
the end of the period—six months or one year for example
certified management accountants (CMAs) - Answer-private accountants who, after
rigorous examination, are certified by the National Association of Accountants and who
have some managerial responsibility
Certified Public Accountant (CPA) - Answer-an individual who has been state certified to
provide accounting services ranging from the preparation of financial records and the
filing of tax returns to complex audits of corporate financial records
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 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
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