RSM 100 quiz 2 extra study | Questions with 100%
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Terms in this set (47)
GAAP Generally Accepted Accounting Principles. The
standards and rules that accountants follow while
recording and reporting financial activities.
Oligopoly a state of limited competition, in which a market is
shared by a small number of producers or sellers.
High startup costs act as barriers to entry
Statement of changes in equity A record of the change in equity from the end of
one fiscal period to the end of the next fiscal
period.
multidomestic business strategy developing and marketing products to serve
different needs and tastes of separate national
markets
Foreign licensing agreement An international agreement in which one firm
allows another firm to produce or sell its product,
or use its trademark, patent, or manufacturing
processes, in a specific geographical area in return
for royalties or other compensation.
Companies use Six Sigma programs quality
to achieve ______ goals.
, computer-aided design (CAD) the use of computers in the design of products
conglomerate merger A merger that combines unrelated firms usually
with the goal of diversification, increasing sales, or
spending a cash surplus to avoid a takeover
attempt.
divestiture The sale of assets by a firm.
Materials Requirement Planning A computer-based production planning system
(MRP) that ensures a firm has all the parts and materials it
needs to produce its output at the right time and
place and in the right amounts.
corporate philanthropy An organization's contribution to the communities
where it earns profits.
computer-aided manufacturing A computer tool that a manufacturer uses to
(CAM) analyze CAD output and the steps that a machine
must take to produce a needed product or part.
management The process of achieving organizational goals
through people and other resources.
General Agreement on Tariffs and An international trade accord that has greatly
Trade (GATT) reduced worldwide tariffs and other trade barriers.
securities Financial instruments that represent the obligations
of the issuers to provide the purchasers with the
expected stated returns on the funds invested or
loaned.
Correct Answers | Verified | Latest Update 2026
Save
Terms in this set (47)
GAAP Generally Accepted Accounting Principles. The
standards and rules that accountants follow while
recording and reporting financial activities.
Oligopoly a state of limited competition, in which a market is
shared by a small number of producers or sellers.
High startup costs act as barriers to entry
Statement of changes in equity A record of the change in equity from the end of
one fiscal period to the end of the next fiscal
period.
multidomestic business strategy developing and marketing products to serve
different needs and tastes of separate national
markets
Foreign licensing agreement An international agreement in which one firm
allows another firm to produce or sell its product,
or use its trademark, patent, or manufacturing
processes, in a specific geographical area in return
for royalties or other compensation.
Companies use Six Sigma programs quality
to achieve ______ goals.
, computer-aided design (CAD) the use of computers in the design of products
conglomerate merger A merger that combines unrelated firms usually
with the goal of diversification, increasing sales, or
spending a cash surplus to avoid a takeover
attempt.
divestiture The sale of assets by a firm.
Materials Requirement Planning A computer-based production planning system
(MRP) that ensures a firm has all the parts and materials it
needs to produce its output at the right time and
place and in the right amounts.
corporate philanthropy An organization's contribution to the communities
where it earns profits.
computer-aided manufacturing A computer tool that a manufacturer uses to
(CAM) analyze CAD output and the steps that a machine
must take to produce a needed product or part.
management The process of achieving organizational goals
through people and other resources.
General Agreement on Tariffs and An international trade accord that has greatly
Trade (GATT) reduced worldwide tariffs and other trade barriers.
securities Financial instruments that represent the obligations
of the issuers to provide the purchasers with the
expected stated returns on the funds invested or
loaned.
