BUSINESS 201 QUIZ 1 QUESTIONS WITH ACCURATE
ANSWERS
4 P's of marketing correct answer Product
Price
Promotion
Place
4 steps to success correct answer planning organizing leading controlling
accounting correct answer a set of rules applied to a company's financial records
that allows owners and managers to monitor analyze and plan the finances
accounting correct answer tracks summarizes and analyzes a company's financial
postition
accounting equation correct answer Assets= Liabilities + Equity
benchmarking correct answer studying highly successful companies
business correct answer an organization that provides goods and services
carrying cost correct answer cost of maintaining completed products
contribution margin correct answer the amount of money you have left over from
the sale of your product
, Price - variable costs = CM
cost analysis reports correct answer defining the costs of specific products or
activities within a company
demand correct answer the quantitiy of goods and services that consumers are
willing to provide at those prices
diminishing returns correct answer investing in additional resources might initially
increase productivity, but at a certain point, spending more will result in a lower
return per dollar invested
economic cost correct answer money spend implementing the decisions
economies of scale correct answer when the cost of each good produced
decreases as the volume produced increases
finance correct answer refers to the activities concerned with funding a company
and using resources effectively
Financial Accounting correct answer balance sheets income statements, cash
flow, provides information to stock holders.
Improve Contribution Margin correct answer Raise Prices
Lower material Costs
reduce labor costs
ANSWERS
4 P's of marketing correct answer Product
Price
Promotion
Place
4 steps to success correct answer planning organizing leading controlling
accounting correct answer a set of rules applied to a company's financial records
that allows owners and managers to monitor analyze and plan the finances
accounting correct answer tracks summarizes and analyzes a company's financial
postition
accounting equation correct answer Assets= Liabilities + Equity
benchmarking correct answer studying highly successful companies
business correct answer an organization that provides goods and services
carrying cost correct answer cost of maintaining completed products
contribution margin correct answer the amount of money you have left over from
the sale of your product
, Price - variable costs = CM
cost analysis reports correct answer defining the costs of specific products or
activities within a company
demand correct answer the quantitiy of goods and services that consumers are
willing to provide at those prices
diminishing returns correct answer investing in additional resources might initially
increase productivity, but at a certain point, spending more will result in a lower
return per dollar invested
economic cost correct answer money spend implementing the decisions
economies of scale correct answer when the cost of each good produced
decreases as the volume produced increases
finance correct answer refers to the activities concerned with funding a company
and using resources effectively
Financial Accounting correct answer balance sheets income statements, cash
flow, provides information to stock holders.
Improve Contribution Margin correct answer Raise Prices
Lower material Costs
reduce labor costs
