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Business Principles
Essay Questions Options
| Question | Answer |
|---|---|
| List at least three things that a salesperson should avoid. | 1.Never discuss politics or controversy with prospects; minimize small talk and get to the point. 2.Never ask questions that are on the prospect’s website – do your homework in advance 3.Turn your cell phone off during the prospect meeting, and give the |
| What is odd pricing, and why is it employed? | Odd pricing uses odd amounts, such as $2.99 or $6.77, to make a price appear lower than it actually is. |
| Who are the major users of accounting information? Explain why | Managers with a business, government agency, or not-for-profit organization are the major users of accounting information, because it helps them plan and control daily and long-range operations. |
| What are budgets, and what role do they play in business? | Budgets are financial guidelines for future periods reflecting expected sales revenues, operating expenses, and/or cash receipts and outlays. They represent management's expectations of future occurrences based on plans that have been made. They serve as |
| What is the Federal Reserve System and What role does it play in modern finance? Name and discuss the major tools the Federal Reserve System has at its disposal. | The Federal Reserve System (the "Fed") is a system of 12 district banks that regulates banking, acts as a clearinghouse for checks, and regulates the supply of money and credit in order to promote economic growth and control inflation. The major tools of |
| Define the financial plan. Explain the difference between operating plans and strategic plans. | A finc’l plan specifies funds needed by a firm for a given time and uses of funds. Operating plans are short-term, focusing on projections <= 1- 2 yrs in the future. Others, strategic plans, have longer time, perhaps up to 5 or 10 yrs. |
| Define debt capital and equity capital. What are the chief sources and characteristics of each? | Debt capital is borrowed money. Short term or long term options and has prior claim to assets if firm fails. Equity capital is invested money.It can come from owners or others, investors are paid after lenders. Do have mgmt authority of firms. |
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tiffanie1719
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