Test Answers on Business Flashcards

chapters 8, 9,10 essentials of management information systems

Analytical CRM includes applications that analyze customer data generated by operational CRM applications to provide information for improving business performance. Bullwhip effect information about the demand for a product gets distorted as it passes from one entity to the next across the supply chain Churn rate measures the number of customers who stop using or […]

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Chapter one Accounting

Accounting The process of recording, summarizing, analyzing, and interpreting financial activities to allow individuals and companies to make informed judgements and decisions Accounting equation Assets= Liabilities+ Owners equity. Referred to as the basic accounting equation Accounting period Time frame of which accounting records are maintained. Anywhere from a month to a year. Accounts payable- The […]

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CHAPTER 9. Production and Operations Management

assembly process That part of the production process that puts together components. computer-aided design (CAD) The use of computers in the design of products. computer-aided manufacturing (CAM) The use of computers in the manufacturing of products. computer-integrated manufacturing (CIM) The uniting of computer-aided design with computer-aided manufacturing. continuous process A production process in which long […]

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Chapter 9 Business Law – Test 2

Crime wrong against society proclaimed in a statute and punishable by a fine and/or imprisonment – or in some cases, death. Burden of Proof the duty of proving a disputed charge Beyond a reasonable doubt The standard that must be met by the prosecution’s evidence in a criminal case: that there is no other logical […]

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Chapter 9 Airway Management EMT

What does the upper airway consist of? Nose, Mouth, Jaw, Oral Cavity, Pharynx, and Larynx What is the main function of the upper airway? to warm, filter, and humidify the air that enters the body What does the Pharynx consist of? Nasopharynx, Oropharynx, and Laryngopharynx What does the Lower Airway consist of? Trachea, Bronchi, and […]

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Chapter 9.7 Linux Application Management

You’re using a Linux distribution that uses RPM for package management. Which command would you use to install httpd, the Apache HTTP Server package, and all its dependencies? yum install httpd You’re using a Linux distribution that uses RPM for package management. Which command would you use to check to see if httpd package, the […]

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Chapter 8 Project Management

True/False The quality assurance process involves taking responsibility for quality throughout the project’s life cycle. True Performing quality assurance involves periodically evaluating overall project performance to ensure that the project will satisfy the relevant quality standards. The quality assurance process involves taking responsibility for quality throughout the project’s life cycle. True/False Validated changes and validated […]

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chapter 8 marketing

a representative product taken from a lot or batch, evaluated, and purchased refers to sampling inelastic demand simply means that a price increase or decrease will not significantly change the demand for an item. Most business purchases can be classified as belonging to one of three types modified rebuy, new-task, or straight rebuy the four […]

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Chapter 8: Food Safety Management Systems

Food safety management system A group of practices and procedures intended to prevent foodborne illness. Active managerial control The manager’s responsibility to actively control risk factors for foodborne illness. Five common risk factors Purchasing food from unsafe sources, failing to cook food properly, holding good at incorrect temperatures, using contaminated equipment, and practicing poor personal […]

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Chapter 8 Economics Review

A zoning law is a(n) law in a city or town that designates separate areas for residency and for business. What percentage of total sales in the United States are generated by sole proprietorships? 6 Percent What is one of the first decisions an entrepreneur must make? what kind of business organization will best serve […]

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chapter 8 Business Organization Economics

inventory A record listing the merchandise on hand at any given point in time is called a(n): receipts income received from the sale of goods and/or services; also, slips of paper documenting a purchase Elements of business operations Expenses, advertising, record keeping and risk sole proprietorships Businesses owned and operated by one individual; the most […]

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Chapter 8: Accounting for Receivables

account receivable – sold something (or provided service) on accounts (with terms such as net 30) issues with accounts receivable 1. Recognizing (how do we recognize A/R) 2. Valuing (how do we value A/R) 3. Disposing (how do we dispose A/R) types of receivable – account receivable: amounts that customers owe on account (30-60 days) […]

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Chapter 7: Total Quality Management (TQM)

The Real Components of TQM Guests will overlook missing amenities if the product they came for is delivered. TQM begins in the guest room Bedding Mattress quality is key but there is more to a bed than a mattress. There are linens and pillows. Most hotels triple sheet their beds and provide 5 to 6 […]

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chapter 7: management, leadership, and employee empowerment

A planning tool used to analyze an organization’s strengths, weaknesses, opportunities, and threats SWOT analysis Individuals and units within the firm receive services from other individuals or units Internal customers Specific short term statements detailing how to achieve the organization’s goals Objectives The process involves developing detailed, short-term statements about what is to be done, […]

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Chapter 7 Management

The buying and selling of goods and services business the buying and selling of goods and services from people of different countries global business corpartions that own businesses in two or more countries mutlinational corporations occurs when a current company buildsn anew business or acquires a new business in a foreign country direct forieng investment […]

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Chapter 7: Flexible Budgets, Direct-Cost Variances, and Management Control

What distinguishes between a favorable variance and an unfavorable variance? A favorable variance has a result of increasing operating income relative to the budgeted amount. An unfavorable variance has a result of decreasing operating income relative to the budgeted amount What is the relationship between management by exception and variance analysis? Management by exception is […]

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Chapter 7 Essentials of Business Law

contract a legally enforceable agreement that is created when two or more competent parties agree to perform or to avoid performing, certain acts that they have a legal right to do and that meet certain legal requirements. tangible personal property personal property that can be moved. Offer a proposal made by one party (the offender) […]

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Chapter 7 – Business Law

Promise A declaration that binds the person who makes it (the promisor) to do or not to do a certain act (pg. 193) Promisor A person who makes a promise (pg. 193) Promisee A person to whom a promise is made (pg. 193) Contract A set of promises constituting an agreement between parties, giving each […]

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Chapter 7 B2B Marketing

The Northwoods University IT department is planning to buy additional computers for the computer lab. Pedro Bechara, manager of the lab, is asked for a recommendation, and he suggests buying Macintosh computers instead of Windows PCs. What role does Pedro play in the buying center? Select one: a. initiator b. buyer c. influencer d. decider […]

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Chapter 6 Cost Accounting

Process costing a product costing system that accumulates costs according to processes or departments When is Process costing used? Used when outputs are standardized/ homogeneous How often is the Production Cost report prepare? Is prepared each period (e.g., each month) for each department In production cost report, what do each department has? Each Department has […]

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Chapter 4: Mastering Self-management

Quadrant I Actions are IMPORTANT and URGENT. Quadrant II Actions are IMPORTANT and NOT URGENT. Quadrant III Actions are UNIMPORTANT and URGENT Quadrant IV Actions are UNIMPORTANT and NOT URGENT. Quadrant II creators spend as much time as possible in Quadrant? Calendar a self management tool that provides an overview of upcoming commitments, appointments, and […]

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