AAMI BUS 202 - Final Review with all Correct & 100%
Verified Answers| Actual Complete Exam| Already
Graded A+
Manufacturing Business ✔Correct answer-A business that makes finished good from raw materials
by hand or machinery.
Merchandising Business ✔Correct answer-A business that purchases finished goods for resale.
Consumerism ✔Correct answer-Emphasis placed on providing to customers the products and
services that are safe, reliable, and honestly advertised.
Patent ✔Correct answer-The registered right of an inventor to make, use, and sell an invention.
Trademark ✔Correct answer-An intangible asset that is a name, sign, or symbol that the federal
government grants exclusive rights to use for a specified period of time.
Replacement Value Approach ✔Correct answer-The fair market price to purchase similar products
in a similar condition.
Earnings Value Approach ✔Correct answer-A business valuation approach that centers on
estimating the amount of potential income that may be produced by the business in the next year.
Market Value Approach ✔Correct answer-Used in business valuation that determines value based
upon previous sales of similar businesses.
Type A Startup Ideas ✔Correct answer-Provides customers with a product or service that is not in
their market but exists somewhere else.
Type B Startup Ideas ✔Correct answer-Use a technically new process that provides the basis for
new product or service ideas.
Type C Startup Ideas ✔Correct answer-Perform an old function but in a new and improved way.
Organizational Culture ✔Correct answer-Practices distinguishing a given firm, such as beliefs about
working beyond the closing hour or slowing down as closing time approaches.
Franchisee ✔Correct answer-The party in a franchise contract who is granted selling and other
privileges whose power is limited by the organization.
Franchisor ✔Correct answer-The party in a franchise contract who specifies the methods to be
followed.
Product and Trade Name Franchising ✔Correct answer-Granting the right to use a widely
recognized product name.
Business Format Franchising ✔Correct answer-Obtains an entire marketing system and ongoing
guidance from the franchisor.
Verified Answers| Actual Complete Exam| Already
Graded A+
Manufacturing Business ✔Correct answer-A business that makes finished good from raw materials
by hand or machinery.
Merchandising Business ✔Correct answer-A business that purchases finished goods for resale.
Consumerism ✔Correct answer-Emphasis placed on providing to customers the products and
services that are safe, reliable, and honestly advertised.
Patent ✔Correct answer-The registered right of an inventor to make, use, and sell an invention.
Trademark ✔Correct answer-An intangible asset that is a name, sign, or symbol that the federal
government grants exclusive rights to use for a specified period of time.
Replacement Value Approach ✔Correct answer-The fair market price to purchase similar products
in a similar condition.
Earnings Value Approach ✔Correct answer-A business valuation approach that centers on
estimating the amount of potential income that may be produced by the business in the next year.
Market Value Approach ✔Correct answer-Used in business valuation that determines value based
upon previous sales of similar businesses.
Type A Startup Ideas ✔Correct answer-Provides customers with a product or service that is not in
their market but exists somewhere else.
Type B Startup Ideas ✔Correct answer-Use a technically new process that provides the basis for
new product or service ideas.
Type C Startup Ideas ✔Correct answer-Perform an old function but in a new and improved way.
Organizational Culture ✔Correct answer-Practices distinguishing a given firm, such as beliefs about
working beyond the closing hour or slowing down as closing time approaches.
Franchisee ✔Correct answer-The party in a franchise contract who is granted selling and other
privileges whose power is limited by the organization.
Franchisor ✔Correct answer-The party in a franchise contract who specifies the methods to be
followed.
Product and Trade Name Franchising ✔Correct answer-Granting the right to use a widely
recognized product name.
Business Format Franchising ✔Correct answer-Obtains an entire marketing system and ongoing
guidance from the franchisor.
