Small Business Management Test Bank Solution Manual Already Passed

Small Business Management Test Bank Solution Manual Already Passed Better Business Bureau - Answers An association of business firms that promotes ethical conduct by all business firms in a community ABC Method - Answers A method of classifying inventory items with categories that are of high value, less costly, and/or low-cost items. Actuating (Directing) - Answers Regulating the activities or course of activities of an organization: to guide and/or supervise the activities of an organization. Advertising - Answers the art of making the public aware of the service or commodity that the business has for sale. Aftercare (See post-need services) - Answers Aftercare (See post-need services) Age Discrimination in Employment Act of 1967 - Answers Federal Legislation that requires that employers to treat applicants and employes equally regardless of age. Aging Schedule - Answers A grouping of accounts receivable into age categories based upon the length of time they have been outstanding on the company record. Americans with Disabilities Act (ADA) - Answers legislation that guarantees disabled people equal access to employment, as well as access to public places Angels - Answers private investors who are willing to supply financing for new and/or risky small ventures startups. Articles of Partnership - Answers A written document that explicitly states the rights and duties of partners in a partnership. Average Collection Period - Answers measures the accounts receivable turnover Better Business Bureau - Answers An association of business firms that promotes ethical conduct by all business firms in a community Board of Directors - Answers The governing body that is elected by the stockholders of a corporation bona fide occupational qualification (BFOQ) - Answers A qualification that is absolutely necessary for the job; its an allowed and approved reason for discrimination Brand - Answers The identification for a product Break-Even Analysis - Answers the point at which total sales revenues equals total operating cost Burglary - Answers The forcible breaking and entering of premises closed for business with the subsequent removal of cash or merchandise Business - Answers an organization that combines inputs of raw materials, capital , labor and management skills to produce useful outputs of goods and services so as to earn a profit Business interruption insurance - Answers an insurance that protects companies during the period necessary to restore property damaged by an insured peril. coverage pays for lost income and other expenses related to recovery Business plan ( new venture plan) - Answers a written description of a new idea that projects marketing, operational, and financial aspects of proposed business. Business policies - Answers fundamental statements that serve as guides to management practice census of business - Answers source of market data that explains where certain businesses are located cash discount - Answers 2/10, n/30 2% discount if paid 10 days from date of invoice/net amount must be paid within 30 days of date of invoice. Casualty Insurance - Answers Insurance that provides monetary benefits to a business that has experienced an unforeseen peril such as flood, fire, etc. Caveat Venditor - Answers Let the seller beware census of housing - Answers source of market data that keeps track of new home sales by region and/or the construction of new houses by region and specific area. census of manufacturing - Answers source of market data that explains where certain manufactures are located census of population - Answers source of market data that complies population statistics with regard to distribution of population by region, area, ect. Chain of Command - Answers The superior/subordinate relationship that serves as a channel for two-way communications chamber of commerce - Answers association of business people who attempt to protect and promote the commercial interest in a community Circulating Capital - Answers The current asset items consisting of cash, inventories, and accounts receivable. Civil Rights act of 1964 - Answers federal legislation the prohibits discrimination on the basis of race, color,religion,sex, or national origin Closed end credit (Installment credit) - Answers Balance of costly goods paid for in small monthly (fractional) payments over a period of time. competition - Answers practice of trying to obtain something that is being sought by others under similar circumstances at the same time Consumer credit - Answers type of credit granted by retailers that is used by individuals or families for satisfaction of their own wants Consumerism - Answers emphasis placed on providing to customers products and services that are safe, reliable, and honestly advertised; also a social movement that seeks to strengthen the rights of consumers relative to sellers. Controlling (evaluating) - Answers management function which compares organizational and individual performance with predetermined standards or expected instructions copyright - Answers the registered right of a creator to reproduce, publish, and sell the work which is the product of the intelligence and skill of that person corporation - Answers a legal form of organization where by a legal entity is authorized by a state to operate a business under the entity's character or articles of incorporation credit - Answers an agreement that payment for a product of service will be made at some later date Debt equity (debt capital, borrowed capital) - Answers any borrowed or loaned capital invested in the business that must be repaid to creditors demographics - Answers statistical study of human populations with respect to their size density, distribution, composition, and income Directing (Actuating) - Answers regulating the activities of an organization; to guide and/or supervise the activities of an organization. earnings valuation approach - Answers a business valuation approach which centers on estimating the amount of potential income that may be produced by the business in the next year economic base - Answers the wealth produced in or near a community that provides employment and income to the local population economic order quantity (EOQ) - Answers the quantity to be purchased which minimizes tota