Business Final

The internet is a good arena for entrepreneurs to sell products and services
True False

a checklist is a good way to organize your thinking when you begin planning your own business
True False

you should be able to prepare a good business plan in about an hour
True False

most businesses in the United States are small businesses
True False

as you business expands, you can change the form of ownership
True False

if you own more than half the stock of a corporation, you get to keep all the profits
True False

stockholders own the corporation
True False

only large corporations need a management plan
True False

banks play an important role in managing money and controlling and stimulating the economy
True False

one of the primary services banks provide is storing money for customers in bank accounts
True False

if you want to buy a new vehicle, you should try to get a loan from a mortgage company
True False

the money you deposit in a bank makes it possible for the bank to lend money to other customers
True False

you can use the same strategy to market a skateboard that you can use to market diamond earrings
True False

to successfully market a product, a company has to understand what people want to buy and why they want to buy it
True False

a new product is introduced before it is test marketed
True False

teenagers are an example of a target market
True False

marketers have to figure out what price to charge for a product so the company makes a profit
True False

the average person sees thousands of ads each week
True False

pop-up ads are a form of internet advertising

local television stations are more expensive to adertise on than national networks
True False

the cost of internet advertising is based on the size and format of ads
True False

to run a business successfully, you must be able to put together a financial plan, budget, and keep track of your income and expenses
True False

one of the responsibilities of a financial manager is to find additional sources of funds
True False

a cash budget tells you how much money your business will need over the long run
True False

your financial records are confidential so you don't have to show them to banks or investors
True False

prices for many items change during different times of the year
True False

you should buy only brand name products
True False

department stores have better prices than most discount stores
True False

the most expensive item is always the best
True False

loss leaders don't make money, but the low prices bring in customers so they'll buy other things
True False

consumers have no special legal rights
True False

according to consumer laws, loan companies must clearly list interest rates
True False

the federal govt has the authority to keep businesses competative so consumers have a wide variety of goods and services to choose from
True False

different stores might charge different prices for the same item
True False

if you wash a sweater differently than what the label says and it gets ruined, you can sue the manufacturer
True False

advertising is not a good source of consumer information
True False

you can't go to small claims court without a lawyer
True False

COMSUMER REPORTS doesn't allow businesses to use its findings in advertising
True False

the better business bureau can recommend to you which local businesses are the best
True False

when you buy on credit, you have to pay interest
True False

the federal govt uses credit to pay form many of the services ad programs it provides to its citizens
True False

items cost less when you buy them on credit
True False

you shoud never use credit in an emergency
True False

a credit bureau has the right to collect credit information on you
True False

if youalready have a large amount of debt,creditors will be unlikely to give you more credit`
True False

you should never make more than the minimum payment on a credit card
True False

bank credit cards, such as VISA cna be used as a source of cash loans
True False

lenders aren't legally required to tell you how much it costs you to finance a loan
True False

to protect consumers, both the federal and state govts control and regulate the credit industry
True False

you can be denied credit on the basis of gender, age, ethnicity, or religion
True False

if you are denied credit, you will receice a written states listing the reasons why
True False

people can't legally obtain your credit report when you apply for additional credit, a job, or insurance
True False

collection agents can use almost any method they choose to collect overdue bills
True False

when you buy stock, you are buying part of a partnership
True False

ifa compnay fails, common stockholders are paid before preferred stockholders
True False

stocks can only be bought and sold on the stock exchange
True False

blue-chip stocks are safer than speculative stocks
True False

stocks are very liquid because they can easily be sold to turn into cash
True False

as a member of society, you are both a consumer and a producer
True False

a job and a career are the same thing
True False

taxes are used to pay for things like roads, parks national defense, and public schools
True False

corporations are owned by the stockholders
True False

to start a business on the internet, you must be at least 21 years old
True False

banks, credit unions, and brokerage firms are types of financial institutions
True False

the owners of you apartment building are responsible for your personal possessions in case of theft or fire
True False

what is someone like Jeff Bezo's who started Amazon.com called?

which part of a business is the owner responsible for?

which of the following is not a reason small businesses fail?

what is a written description of a new business venture that describes all aspects of the business?

a corporation is controlled by this

the american red cross is an example of which type of business?

if you wanted to buy a new home, which type of loan would you want?

which is a good place to store you valuables?

which are nonprofit banks set up by organizations for their members to use

which is a financial institution that provides protection against things life fire and theft?

what is a business knowing what its customers wants and needs called?

which function of marketing involves moving goods from one place to the end user?

which is not part of the marketing mix?

which step in developing a new product is used to introduce the product

which of the followng sells goods directly to the customer

which is the most effective means of advertising

which is the most common form of outdoor advertising?

which is an advantage of radio advertising

what are internet ads that appear for a few seconds called?

which medium has an advantage over other media because it combines sounds, images, and motion?

which of the following helps you predict how much money you'll need and how to control your spending?

what is a one year accounting period called

cash, equiptment, buildings, supplies, inventory, and land are all examples of this

which is a report of net income or net loss over an accounting period?

what is the report of the financial state of your business on a cerain date called

this is a person who selects, purchases, uses, and disposes of goods and services.

this is a good time to save money on buying a new computer or car

which gives you a special buy on a new product?

foot locker and ace hardware are examples of these specialty stores

this leads to buying things you don't need and can ruin your budget

this is not a consumer right

listing minerals and vitamins in vitamin pills is an expample of this consumer right

a store that claims it's out of and advertised item and tries to get you to buy a more expensive one is doing this

a nutrition label can tell you this

which is collecting products for prcessing so they can be used again called?

which of the following is the nation's oldest nonprofit consumer group, that provides govt, businesses, and other agencies with the consumer's point of view?

you can receive consumer publications from govt agencies by contacting this group in Pueblo, Colorado

what is is called when the National Highway Traffic Safety Administration orders automakers to take back and repair or replace cars with defective parts?

to prevent people from practicing occupations they're not qualified to do, states issue these legal permits to conduct business

which of the following refers to an agreement to get money, goods, or services now in exchange for a promise to pay in the future?

this is a type of credit used by people for personal reasons

which refers to a short term and medium term credit offered by dealers or stores?

this type of credit card can only be used at the business that issued it

which refers to a 15 to 30 year installment loan, which is usually for a house?

this is one of the first things a creditor considers before lending you money

creditors will often increase this if you pay you bills regularly

which is a loan backed by collateral

this is the total amount it costs for a loan, including interest fees

what is it called whn youcorrow money on a credit card rather than use it to make a purchase

this requires that information about all costs of borrowing be given to the borrower by the creditor

this is not a reason for credit to be denied

which gives you the right to know the info in ur credit file at the credit bureau

this requires creditors to correct billing mistakes brought to their attention

which of the following refers to the person or business that has the job of collecting overdue bills

which of the following refers to how easily one's assets can be turned into cash

which of the following is the primary form of ownership in a corporation

this is the place where most stocks are bought and sold

this is a way an investor can invest in the stock market without buying stocks in a specific corporation

which of the following refers to buying and selling stock based on minute by minute changes in the price of the stock

which refers to a general increase in the cost of goods and services

this type of business organization gives authority to a number of managers to run their own departments

antitrust laws protect this

which of the following refers to the amount of money a company has to make on a product to pay for its costs

you can protect your personal information on the internet with one of these

you should alway include one of these with your resume

U.S. companies spend about $135 billion a year on this to convince you to buy their products

to refuse to buy a company's products because you object to the company's environmental or employment policies is called this

this government organization enforces law about business practices

which of the following refer to a roadmap for using your money

this is a strict set of guidelines for behavior in the workplace used by a business or profession