FCS 1260 UPDATED FINAL EXAM Questions
And CORRECT Answers
the manufacturing process in creating textiles and fabrics is very _________ intensive - CORRECT
ANSWERS technology
the manufacturing of finished apparel products is _________ intensive - CORRECT
ANSWERS labor
the us garment district is located in - CORRECT ANSWERS New York City
Key demand factors which spurred the developments of the apparel industry in the U.S. are: -
CORRECT ANSWERS sewing machine invented, fabrics became inexpensive, massive growth of
middle class
fast fashion retail companies produce new products how often - CORRECT ANSWERS small
quantities on a continual basis
supply chain management refers to - CORRECT ANSWERS sharing and coordinating information
amongst everyone in the process
quick response in the textile and apparel industry refers to - CORRECT ANSWERS business
strategies to reduce time from beginning to end
corporate social responsibility refers to - CORRECT ANSWERS business practices that contribute
positively to the global environment
the organization associated with improving working conditions in the garment industry is - CORRECT
ANSWERS international ladies garment workers union
what is meant by a brand position - CORRECT ANSWERS how a company positions themselves
compared to competitors
what is meant by a fashion brand - CORRECT ANSWERS strong fashion identitity
, what is a design brief - CORRECT ANSWERS document that guides the company - makes sure
they are maintaining brand position and identity
Partnership advantages and disadvantages - CORRECT ANSWERS Advantages:
Easy to start
Ease of management
Disadvantages:
Partners are responsible for each other
Conflict
sole proprietorship advantages and disadvantages - CORRECT ANSWERS Advantages
Easiest to start
Least regulated
Single owner keeps all of the profits
Taxed once as personal income
Disadvantages
Limited to life of owner
Equity capital limited to owner's personal wealth
Unlimited liability
Difficult to sell ownership interest
corporation advantages and disadvantages - CORRECT ANSWERS Advantage: limited liability,
ease of transferring ownership, profession management, unlimited life
Disadvantage: government regulations, double taxation
what is the term associated with a publicly held corporations stock is purchased by a group of
investors who borrow money from an investment firm using a corporations assets as collateral? -
CORRECT ANSWERS leveraged buyout
And CORRECT Answers
the manufacturing process in creating textiles and fabrics is very _________ intensive - CORRECT
ANSWERS technology
the manufacturing of finished apparel products is _________ intensive - CORRECT
ANSWERS labor
the us garment district is located in - CORRECT ANSWERS New York City
Key demand factors which spurred the developments of the apparel industry in the U.S. are: -
CORRECT ANSWERS sewing machine invented, fabrics became inexpensive, massive growth of
middle class
fast fashion retail companies produce new products how often - CORRECT ANSWERS small
quantities on a continual basis
supply chain management refers to - CORRECT ANSWERS sharing and coordinating information
amongst everyone in the process
quick response in the textile and apparel industry refers to - CORRECT ANSWERS business
strategies to reduce time from beginning to end
corporate social responsibility refers to - CORRECT ANSWERS business practices that contribute
positively to the global environment
the organization associated with improving working conditions in the garment industry is - CORRECT
ANSWERS international ladies garment workers union
what is meant by a brand position - CORRECT ANSWERS how a company positions themselves
compared to competitors
what is meant by a fashion brand - CORRECT ANSWERS strong fashion identitity
, what is a design brief - CORRECT ANSWERS document that guides the company - makes sure
they are maintaining brand position and identity
Partnership advantages and disadvantages - CORRECT ANSWERS Advantages:
Easy to start
Ease of management
Disadvantages:
Partners are responsible for each other
Conflict
sole proprietorship advantages and disadvantages - CORRECT ANSWERS Advantages
Easiest to start
Least regulated
Single owner keeps all of the profits
Taxed once as personal income
Disadvantages
Limited to life of owner
Equity capital limited to owner's personal wealth
Unlimited liability
Difficult to sell ownership interest
corporation advantages and disadvantages - CORRECT ANSWERS Advantage: limited liability,
ease of transferring ownership, profession management, unlimited life
Disadvantage: government regulations, double taxation
what is the term associated with a publicly held corporations stock is purchased by a group of
investors who borrow money from an investment firm using a corporations assets as collateral? -
CORRECT ANSWERS leveraged buyout
