question

e-business

answer

the organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society's needs through the facilities available on the Internet

question

media sharing sites

answer

allow users to upload photos, videos, and podcasts

question

podcasts

answer

digital audio or video flies that people listen to or watch online on tablets, computers, MP3 players, or smartphones

question

inbound marketing

answer

a marketing term that describes new ways of gaining attention and ultimately customers by creating content on a website that pulls customers in

question

social media

answer

the online interactions that allow people and businesses to communicate and share ideas, personal information, and information about products and services

question

Millennials

answer

tech-savvy digital natives born after 1980

question

business-to-business model

answer

a model used by firms that conduct business with other businesses

question

business-to-consumer model

answer

a model used by firms that focus on conducting business with individual consumers

question

revenue stream

answer

a source of revenue flowing into a firm

question

cookie

answer

a small piece of software sent by a website that tracks an individual's Internet use

question

malware

answer

a general term that describes software designed to infiltrate a computer system without the user's consent

question

Social media can most accurately be described as being about

answer

People.

question

Which of the following describes an interactive community bulletin board?

answer

Forums.

question

What is a podcast?

answer

A digital audio or video file.

question

Which of the following companies was one of the early adopters of consumer ratings?

answer

Amazon.

question

Which of the following is the last step in building a social media plan?

answer

Listen to determine opportunities.

question

Each objective of a social media plan should be all of the following except

answer

Achievable.

question

Which of the following is true about social media measurement tools?

answer

Most companies use quantitive measurements.

question

A customer tracking system is an example of e-business _______________ resources.

answer

Informational.

question

What percentage of worldwide Internet users do Americans represent?

answer

10.

question

Which of the types of resources needed for an e-business is Storybook.com most likely to receive from a venture capitalist?

answer

Financial.

question

False.

answer

Just under 45 percent of U.S. adults use some sort of social media. T or F.

question

False.

answer

Engaging customers in generating new ideas for products or services is an unethical use of social media. T or F.

question

True.

answer

The cost to create and distribute photos, videos, and podcasts should be a consideration when a business is trying to decide if it should participate in media sharing. T or F.

question

False.

answer

Angry Birds is a popular blog. T or F.

question

True.

answer

A wiki is an online collaborative working space where people contribute content. T or F.

question

True.

answer

The two types of social media measurement are quantitative and qualitative. T or F.

question

False.

answer

Sources of revenue flowing into the firm are referred to as revenue channels. T or F.

question

True.

answer

Firms t hat tend to focus on conducting e-business with other businesses are referred to as having a B2B focus. T or F.

question

False.

answer

When General Electric uses the Internet to purchase materials from its suppliers, it is using a B2C business model. T or F.

question

True.

answer

Outsourcing is the process of finding outside vendors and suppliers that provide professional help, parts, or materials at a lower cost. T or F.

question

Assets

answer

Inventories are an example.

question

Balance sheet

answer

This statement reveals the financial position of the firm.

question

Cost of goods sold

answer

the dollar amount equal to beginning inventory plus net purchases less ending inventory

question

Current ratio

answer

The result of dividing current assets by current liabilities.

question

Data processing

answer

It transforms data into useful information.

question

Information

answer

Data that have been processed.

question

Liabilities

answer

A term for the debts of a firm.

question

Liquidity

answer

The ease with which assets can be converted into cash.

question

Knowledge management

answer

It incorporates a firm's procedures for generating, using, and sharing the data and information contained in the firm's database.

question

Owners' equity

answer

It is the difference between a firm's assets and its liabilities.

question

Public accountant

answer

Works on a fee basis for clients and may be self-employed or be the employee of an accounting firm.

question

Statement of cash flows

answer

It illustrates how operating, investing, and financing activities affect cash.

question

True.

answer

The more information a manager has, the less risk there is that a decision will be incorrect. T or F.

question

False.

answer

A single collection of data stored in one place is called a data center. T or F.

question

False.

answer

Information is defined as numerical or verbal descriptions that usually result from sort of measurement. T or F.

question

False.

answer

In a business report, the conclusions present suggestions on how the problem might be solved. T or F.

question

True.

answer

An expert system uses artificial intelligence to imitate a human's ability to think. T or F.

question

True.

answer

There is added protection for whistle-blowers who report violations of the Sarbanes-Oxley Act. T or F.

question

False.

answer

A private accountant is an accountant whose services may be hired on a fee basis by individu-als or business firms. T or F.

question

False.

answer

The accounting equation is assets 1 liabilities 5 owners' equity. T or F.

question

True.

answer

Marketable securities can be converted into cash in a matter of days. T or F.

question

True.

answer

Stockholders' equity represents the total value of a corporation's stock plus retained earnings that have accumulated to date. T or F.

question

Which statement is not true about a balance sheet?

answer

It summarizes the firm's revenues and expenses during one accounting period.

question

The board of directors decided to pay 50 percent of the firm's $460,000 earnings in dividends to the stockholders. The firm has retained earnings of $680,000 on the books. After the dividends are paid, which of the following statements is true about the firm's retained earnings account?

answer

The new value of the firm's retained earnings is $910,000.

question

A firm had gross profits from sales in the amount of $180,000, operating expenses of $90,000, and federal incomes taxes of $20,000. What was the firm's net income after taxes?

answer

$70,000

question

The Sarbanes-Oxley Act

answer

All of the above are true.

question

You are a purchasing manager in a large firm and are responsible for deciding on and ordering the appropriate software program that allows the user to prepare and edit letters and store them on a computer memory stick. Which type of program will you order?

answer

Word processing

question

An income statement is sometimes called the

answer

earnings statement.

question

When a company reports financial numbers that are lower than expected, generally

answer

the company's stock value will decrease.

question

An audit is

answer

required by many lenders who are trying to validate a firm's accounting statements.

question

Management information systems

answer

collect, store, update, process, and present data.

question

As an administrative manager, you must ensure that

answer

information is used in a consistent manner.

question

It is the movement of money into and out of a business organization.

answer

cash flow

question

Determining a firm's financial needs is one of its important functions.

answer

financial management

question

A loan that is approved before the money is actually needed.

answer

line of credit

question

Funding that comes from the sale of stock.

answer

equity capital

question

Payments are usually made in 30 to 60 days from the invoice date.

answer

trade credit

question

Must receive dividends before common stockholders.

answer

preferred stock

question

It is pledged as security for a loan.

answer

collateral

question

A method of financing that is a legally binding and enforceable and often issued to suppliers.

answer

promissory note

question

The deposits are used for redeeming a bond issue.

answer

sinking fund

question

This investment is backed by the reputation of the issuing corporation.

answer

debenture bond

question

A written order for a bank or other financial institution to pay a stated dollar amount to a specified business or person is called a

answer

check.

question

Judy Martinez, owner of Judy's Fashions, received a $12,000 tax refund. She deposited the money in Chase Bank. The terms of the agreement are that she must leave the money on deposit for three years and the bank will pay her 1 percent interest. Her account is a

answer

certificate of deposit.

question

An invoice in the amount of $200 carries cash terms of "2/10, net 30." If the buyer takes advantage of the discount terms, how much will the buyer pay?

answer

$196

question

When a firm sells its accounts receivable to raise short-term cash, it is engaging in a strategy called

answer

factoring.

question

Retained earnings, as a form of equity financing, are

answer

undistributed profits.

question

Since prices are extremely low, the Pipeline Supply Company wants to purchase a special line of pipes from a company going out of business. Pipeline, however, will need to borrow money to make this deal. Which assets will Pipeline most commonly pledge as collateral for this short-term loan?

answer

inventory

question

The most basic form of corporate ownership that has voting rights is

answer

common stock.

question

A short-term promissory note issued by large corporations is known as

answer

commercial paper.

question

Each of the following causes a cash flow problem except

answer

customers who pay on time.

question

The primary sources of funds available to a busi-ness include all of the following except

answer

government grants.

question

True.

answer

Long-term financing is generally used to open new businesses.

question

False.

answer

A budg et is a historical record of the previous year's financial activities.

question

False.

answer

When you use a debit card to make a purchase, a financial institution is extending credit to you and expects to be paid in the future.

question

False.

answer

With a banker's acceptance, certain conditions, such as delivery of the merchandise, may be specified before payment is made.

question

True.

answer

Most lenders do not require collateral for short-term financing.

question

True.

answer

A revolving credit agreement is a guaranteed line of credit.

question

True.

answer

Factoring of accounts receivable typically is the highest cost method of short-term financing.

question

True.

answer

Normally , the usual repayment period for a long-term loan is three to seven years.

question

False.

answer

The usual face value for most corporate bonds is $5,000.

question

False.

answer

A capital budget estimates a firm's expenditures for labor costs and other monthly expenses.

Bus 100 Chapters 14 to 16 – Flashcards

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