Fundamentals of Business Final Exam Questions And Answers

Fundamentals of Business Final Exam
Questions And Answers
-Prospectingb-bCORRECTbbANSWER-Partbofbpersonalbselling--
>Researchbpotentialbbuyersbandbchoosebthebmostblikelybcustomersborbprospects..(bProspe
ct,bapproachbthebprospect,bmakebpresentation,banswerbobjections,bclosebthebsalebandbfollo
wbup)

501(c)borganizationb-bCORRECTbbANSWER-Tax-
exemptbnonbprofitsbdefinedbbybthebUSbIRbcode-
mustbannuallybfilebtheb990bwithbthebIRSbandbIRSbcanbremovebexemptionbofbtaxbifb990bisbnotb
filedbwithinb3byears

501(c)(3)bOrganizationb-bCORRECTbbANSWER-
1.bMustbbebcharitable,beducational,bscientific,breligiousborbliterary.b2.Federalbcorporatebinco
mebtaxbexemptb3.bLowerbpostalbratebbenefit.b4.bincorporatedbatbabstateblevel.

Acquisitionb-bCORRECTbbANSWER-
Firstbphasebofbhumanbresourcebmanagementbwhichbinvolvesbrecruitingbandbhiringbnewbper
sonnel.

Advertisingb-bCORRECTbbANSWER-Abpaidbmessagebcommunicatedbtobanbaudience-
busuallybthroughbabmassbmediumbsuchbasbTV,bradioborbonline.

Offersbscale,baccessibility

Advertisingbbasedbcontentb-bCORRECTbbANSWER-
Anbonlinebbusinessbmodelbwherebcontentborbfunctionalitybisbofferedbtobusersbforbfreebandbth
ebcompanybsellsbadvertisingbtobgeneratebrevenue.

AgentbtobWholesalerbtobRetailerb-bCORRECTbbANSWER-Similarbtobtwo-
stepbdistributionbexceptbforbthebinclusionbofbagents,bwhobworkbindependentlybtobconnectbse
llersbandbbuyers

AngelbInvestorsb-bCORRECTbbANSWER-
Privatebinvestorsbwhoblookbforbownershipbinbbusinessesbthatbshowbpotentialbbutbareboftenbo
verlooked,borbcan'tbfundbonbtheirbown.

,Arbitratorb-bCORRECTbbANSWER-
Abneutralbthirdbpartybwhobconductsbabformalbhearingbonbanbunresolvedbdispute,bthenbdecid
esbonbabsolution.

Assets-bAccountsbreceivablesb-bCORRECTbbANSWER-Assetsbarebwhatbabcompanybowns-
bCategorizedbbybhowbliquidbthebassetbis.b

AccountsbReceivables:blegallybenforcedbclaimbforbpaymentbheldbbybabbusinessbforbgoods/p
roductsbthatbthebclientbhasbnotbpayedbyet.

Autocraticb-bCORRECTbbANSWER-
Typebofbleadershipbwherebthebleadersbmakebthebdecisionsbandbthebemployeesbarebexpecte
dbtobfollowbasbdirected

B2Bbprocurementb-bCORRECTbbANSWER-
Anbonlinebbusinessbmodelbwherebcompaniesbmovebtheirbsupply-
chainborderingbprocessesbonline.

BalancebofbTradeb-bCORRECTbbANSWER-Valuebofbexportsbminusbthebvaluebofbimports

BalancebSheetb-bCORRECTbbANSWER-Assets-bLiabilities=bOwner'sbEquity
Howbmuchbabcompanybhas

BankbLoansb-bCORRECTbbANSWER-Loansbgivenbtobbusinessesbfrombbanks-
bmediumborblong-termbfinancebwithbinterest.




BankbSavingsb-bCORRECTbbANSWER-
Safestbplacebtobstorebmoneybandbarebthebmostbconservativebmeansbofbstoring-
bofferbinterest




BenefitbCorporationb-bCORRECTbbANSWER-Abfor-
profitbcorporatebentitiybthablooksbtobhavebabpositivebimpactbonbsociety.bEx;bpatagonia.

Benefitsb-bCORRECTbbANSWER-
providesbcompaniesbwbabcompetitivebedge,battractsbtopbtalent

Bondsb-bCORRECTbbANSWER-Formbofbdebtbissuedbbybcompanies-

Brandingb-bCORRECTbbANSWER-
Whatbmeaningbdoesbthebbrand,bname,bsymbolbhavebtobthebcustomer;bbrandbpromise:bbene
fitsbpromisedbtobconsumers,bifbfulfilled,bleadsbtobconsumerbtrustbandbloyalty.

Breakbevenbpointb-bCORRECTbbANSWER-
numberbofbunitsbthatbmustbbebsoldbinborderbforbtotalbrevenuebtobequalbtotalbcost.b--
bFixedbcosts/bContributionbMargin

, BusinessbEthicsb-bCORRECTbbANSWER-
Applicationbofbmoralbstandardsbtobbusinessbsituations:bactingbmorallybcorrect.

Businessbmodelsb-bCORRECTbbANSWER-idk

BusinessbPlanb-bCORRECTbbANSWER-
Carefullybconstructedbguidbforbthebpersonbstartingbthebbusiness.bExecutivebsummary,bprod
uctbdescription,bmarketingbplan,boperationsbplanbandbfinancialbprojections.

CAGEbdistantbframworkb-bCORRECTbbANSWER-
CulturalbDistance,bAdministrativebandbpoliticalbdistance,bGeographicalbdistance,bandbEcon
omicalbdistance.

CapitalbBudgetb-bCORRECTbbANSWER-
Budgetbofbexpectedbinvestmentsbinbnewbassetsbsuchbasbfactories,bequipment,bandbmajorbR
&Dbcosts.

CashbBudgetb-bCORRECTbbANSWER-
Estimatebofbcashbreceiptsbandbcashbexpendituresboverbabspecificbperiodbofbtime.

CashbFlowsb-bCORRECTbbANSWER-
Showbthebactivitiesbrelatedbtobthebnetbincreaseborbdecreasebinbcash.b
CashbFlowsbfrombOperations:bnotbonbincomebstatement
CashbFlowsbfrombinvestments:bLand,bequipment
CashbFlowsbfrombFinancing:bpaymentbofbloans/dividends

Centralizationb-bCORRECTbbANSWER-
Decisionbmakingbisbconcentratedbwithbtopbmanagement

CertificatebofbDepositb-bCORRECTbbANSWER-
savingsbaccountbwherebthebinvestorbagreesbtobleavebthebmoneybonbdepositbforbabspecificba
mountbofbtime->btheblongerbthebterm,bthebbetterbasbinterestbincreases.

ChainbofbControlb-bCORRECTbbANSWER-
Linebofbauthoritybthatbmovesbfrombthebtopbtobthebbottombofbthebhierarchy.

ClickbandbMortarbRetailingb-bCORRECTbbANSWER-
Anbonlinebbusinessbmodelbwherebtraditionalbbrick-and-mortarbretailersbsellbonlinebasbwell.

CodebofbEthicsb-bCORRECTbbANSWER-
Uniformbpolicies,bstandardsbandbpunishmentsbforbethicsbinbabbusiness-
bcanbhelpbmaintainbmoralitybamongbinternalbstakeholders.




COllectivebbargainingb-bCORRECTbbANSWER-
Thebprocessbofbnegotiatingbablaborbcontractbwithbmanagement.