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Exam (elaborations)

Bus 115 Midterm Questions With Answers

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BUS 115 MIDTERM QUESTIONS WITH ANSWERS

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shortfall created when the federal govt spends more in a fiscal year than it recieves


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federal defecit




software that facilitates the management of large projects among geographically
dispersed employees

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groupware




a computer-based system that facilitates and supports the decision-making needs of
top managers and senior executives by providing easy access to both internal and
external information


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executive information system




"let the buyer beware"


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caveat emptor




a limit on the amount of a particular good that may be imported into a country during
a given period of time


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import quota

, issued by a bank on request of an importer stating that the bank will pay an amount of
money to a stated beneficiary


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letter of credit




the total value of a nation's exports minus the total value of it's imports over some
period of time


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balance of trade




groups of senior and graduate business students in business administration who
provide management counseling to small businesses


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Small-business institutes




a government agency that assists, counsels, and protects the interests of small
business in the US


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