BUS 101 Exam #3 Ch. 10-13 questions with verified
answers
3 step planning process Ans✓✓✓forecast, budget, control
acceptance sampling Ans✓✓✓quality control efforts limited to before
and after production process
accounts payable Ans✓✓✓$ firms need to pay others
accounts receivable Ans✓✓✓$ owed to a firm
AIDA Ans✓✓✓Awareness, Interest, Desire, Action (Role of
Promotion)
business buyers Ans✓✓✓customers who purchase products with the
intention of either using that product in the production of another
product or reselling it for a profit.
business product Ans✓✓✓used to manufacture other goods or services,
to facilitate an organization's operations, or to resell to other customers
(ex. installations, raw materials, parts, etc.)
buying center Ans✓✓✓informal group of individuals that together
make business buying decision; influencer, purchaser, user, decider,
gatekeeper
, cannibalization Ans✓✓✓a situation that occurs when sales of a new
product cut into sales of a firm's existing products
capital budgets Ans✓✓✓aid in decisions related to the purchase of
long-term assets that usually involve high $$ expenditures
cash flow budgets Ans✓✓✓highlights periods where financial manager
may need to borrow $$/invest surplus cash
cash flow forecast Ans✓✓✓prediction of money coming in & out of
company
short-term = within 12/mo
long-term = 1+ year
cash flow not profits Ans✓✓✓Financial managers recognize that "cash
pays the bills, not profits." While a given transaction may generate
positive profits, the timing of cash inflows and outflows may be such
that the bills need to be paid before the sales revenue has been collected
from customers.
casual research Ans✓✓✓'predictive'; attempts to explain cause/effect
relationships
answers
3 step planning process Ans✓✓✓forecast, budget, control
acceptance sampling Ans✓✓✓quality control efforts limited to before
and after production process
accounts payable Ans✓✓✓$ firms need to pay others
accounts receivable Ans✓✓✓$ owed to a firm
AIDA Ans✓✓✓Awareness, Interest, Desire, Action (Role of
Promotion)
business buyers Ans✓✓✓customers who purchase products with the
intention of either using that product in the production of another
product or reselling it for a profit.
business product Ans✓✓✓used to manufacture other goods or services,
to facilitate an organization's operations, or to resell to other customers
(ex. installations, raw materials, parts, etc.)
buying center Ans✓✓✓informal group of individuals that together
make business buying decision; influencer, purchaser, user, decider,
gatekeeper
, cannibalization Ans✓✓✓a situation that occurs when sales of a new
product cut into sales of a firm's existing products
capital budgets Ans✓✓✓aid in decisions related to the purchase of
long-term assets that usually involve high $$ expenditures
cash flow budgets Ans✓✓✓highlights periods where financial manager
may need to borrow $$/invest surplus cash
cash flow forecast Ans✓✓✓prediction of money coming in & out of
company
short-term = within 12/mo
long-term = 1+ year
cash flow not profits Ans✓✓✓Financial managers recognize that "cash
pays the bills, not profits." While a given transaction may generate
positive profits, the timing of cash inflows and outflows may be such
that the bills need to be paid before the sales revenue has been collected
from customers.
casual research Ans✓✓✓'predictive'; attempts to explain cause/effect
relationships
