BUS 101 Exam #3 Ch. 10-13
Questions with Accurate Answers
3 step planning process correct answer forecast, budget, control
acceptance sampling correct answer quality control efforts limited to before and
after production process
accounts payable correct answer $ firms need to pay others
accounts receivable correct answer $ owed to a firm
AIDA correct answer Awareness, Interest, Desire, Action (Role of Promotion)
business buyers correct answer 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 correct answer 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 correct answer informal group of individuals that together make
business buying decision; influencer, purchaser, user, decider, gatekeeper
cannibalization correct answer a situation that occurs when sales of a new
product cut into sales of a firm's existing products
, capital budgets correct answer aid in decisions related to the purchase of long-
term assets that usually involve high $$ expenditures
cash flow budgets correct answer highlights periods where financial manager may
need to borrow $$/invest surplus cash
cash flow forecast correct answer prediction of money coming in & out of
company
short-term = within 12/mo
long-term = 1+ year
cash flow not profits correct answer 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 correct answer 'predictive'; attempts to explain cause/effect
relationships
channel structure correct answer strategic choice by a business; a producer
selects the channel of distribution that helps to best accomplish its marketing
objectives.
chief financial officer (CFO) correct answer the responsibilities of financial
management fall to this person
Questions with Accurate Answers
3 step planning process correct answer forecast, budget, control
acceptance sampling correct answer quality control efforts limited to before and
after production process
accounts payable correct answer $ firms need to pay others
accounts receivable correct answer $ owed to a firm
AIDA correct answer Awareness, Interest, Desire, Action (Role of Promotion)
business buyers correct answer 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 correct answer 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 correct answer informal group of individuals that together make
business buying decision; influencer, purchaser, user, decider, gatekeeper
cannibalization correct answer a situation that occurs when sales of a new
product cut into sales of a firm's existing products
, capital budgets correct answer aid in decisions related to the purchase of long-
term assets that usually involve high $$ expenditures
cash flow budgets correct answer highlights periods where financial manager may
need to borrow $$/invest surplus cash
cash flow forecast correct answer prediction of money coming in & out of
company
short-term = within 12/mo
long-term = 1+ year
cash flow not profits correct answer 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 correct answer 'predictive'; attempts to explain cause/effect
relationships
channel structure correct answer strategic choice by a business; a producer
selects the channel of distribution that helps to best accomplish its marketing
objectives.
chief financial officer (CFO) correct answer the responsibilities of financial
management fall to this person
