Business Law Channel Management Financial – Flashcards
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An advantage of using satellite tracking technology in distribution is that it enables businesses to
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Know where to shipments are at all times
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What is another way to describe financial information that is true, complete, and faithfully represented?
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Reliable
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Which of the following categories of information are found on a balance sheet?
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Assets, liabilities, owner's equity
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Using the cash accounting method, determine the amount of sales that a business would record for one day if it makes $2,300 in cash sales, has COD sales of $450, and places a $300 special order
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$2,300
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The administration of assets refers to decisions about
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Investments
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Labor-union negotiations are part of which HR management activity?
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Employee relations
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Which of the following is an example of helpful, printed information that businesses often give new employees during orientation:
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Company handbook
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How do producers benefit from the exchanges that result from marketing?
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By gaining repeat business
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The development of goods and services that best satisfy consumer needs and wants is a major goal of
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product/service management
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A home-improvement company has determined that many of its potential customers will only purchase carpeting from businesses offering a discount. What has the company determined?
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Customer buying behavior
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Which of the following is a true statement about B2B (business-to-business) marketing
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Marketers approach B2B marketing differently than consumer marketing
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Natalie searched for 45 minutes to locate an important file folder, which she found under a pike of papers in an unmarked box that was stored under her desk. What action did Natalie fail to take that would have increased her efficiency and saved the company money?
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Staying organized
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Which of the following is an example of corporate responsibility
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A company uses recycled materials in its products
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Designing an effective marketing strategy is important
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to the success of the business
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Which of the following is a consideration in the price element of marketing
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Should the business offer discounts?
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Determining the group of customers that will be the main target for a company's goods/services is done through
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Market segmentation
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Which of the following is an example of a marketing strategy that a business might develop in order to achieve an objective it has outlined in its marketing plan
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Lowering prices by 5%
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Business A spends less on advertising than Business B. Both businesses sell the same products, but Business B charges higher prices than Business A. Which of the following factors had affected the prices of the business
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Promotion
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Why are Universal Product Codes (UPCs) often preprinted on products before the manufacturer ships the products to the business?
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To simplify the price-marking function
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Selling price helps customers to allocate their money because price determines
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What customers can afford to purchase
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The management function of business is usually responsible for
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Setting policy
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