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Sm. Bus. Man. QIV
Final
Question | Answer |
---|---|
t/f: US population will increase by 2025 | true |
t/f: US death rate will increase by 2025 | true |
t/f: more US religious funerals in the future | false |
business that makes finished goods from raw materials | manufacturer |
business that purchases finished goods from a manufacturer for resale | merchandiser |
all of the efforts designed to preserve assets and earning power of your business | risk management |
most common risk management (shift risk) | insurance |
the protection for a business with regard to the monetary compensation which would be provided in the event of a loss | insurance |
insurance for building, equipment, machinery | property insurance |
insurance purchased for a very important person in your company, death benefits | key employee insurance |
preneed policy with a cash surrender value (revocable) | whole life policy |
a preneed policy without a cash surrender value, only lasts for a certain period of time | term life policy |
current assets-current liabilities= | working capital |
how much quantity of a certain item do I have to order to minimize total cost, without wasting any extra of that inventory? | economic order quantity |
how much you're going to charge for your products and services | pricing |
suppliers extend credit to your business | trade credit |
a business type which has a perpetual existence | corporation |
money borrowed to start up a business (two terms) | debt capital/debt equity |
when total sales meets your total operating expense you have reached the | breakeven point |
selling off your accounts receivable to a third party | factoring |
a leader that makes decisions solely by themselves | autocratic |
leaders that do very little supervising, leave the decision-making to employees | free-reign |
leaders that involve subordinates in decisions but make final decisions on their own | democratic |
when a private investor lends money to a small business, the investor is called a | venture capitalist |
largest and fastest computer | mainframe |
personal computers also called | microcomputers |
heart of computer | cpu |
programs which give computer instructions | software |
circuit board | mother board |
working memory | RAM |
preparing a disk | formatting |