Mid Term Flashcards Preview

Business Foundations > Mid Term > Flashcards

Flashcards in Mid Term Deck (65)
Loading flashcards...
1

A company returns 30 cents to stock holders for every dollar invested... its profit margin is?

cannot be determined

2

the number that tells us the amount earned in profits for every $1 in sales is

profit margin

3

things of value that a business owns that will be sold in 18 months are?

long term assets

4

which financial statement shows a "snap shot" of assets

balance sheet

5

kevin obtains buy in from employees when making decisions. he is what type of manager

democratic

6

a company with $15M in liabilities and $5M is owners equity has how much assets

$20M

7

Plans designed for the mid-term fall under which category

tactical

8

determining organization goals missions and objectives fall under which management function?

planning

9

which type of business financing does not have to be paid back?

equity

10

lisa opens a business in kentucky and also incorporates within the same state.. this is...?

domestic

11

which business form has the same benefits as a C corporation but no double taxation

S corporation

12

joe wants to start a business but fears liability. his best option would be?

Corporation

13

a Comapanys personality is known as which of the following?

organizational culture

14

haley calls on one of her employees who reports directly to her. this communication is

downward

15

a job the is vert routine with little variety could be described as

highly specialized

16

a company has 6 employees, 3 of whom are manages. the company is?

tall

17

courtney works at a company where she cannot make most decisions on her own. her company is

centralized

18

bearcat wear sell uc branded apparel. it falls under which competitive environment

monopolistic competition

19

what is a business

Individuals or organizations trying to
earn a profit
by providing
that satisfy people's needs

20

very much like for profit businesses, with the exception that the goal is not to earn profits for owners, rather it is to serve a purpose advancing a social cause.

Nonprofit Organizations

21

he difference between what it costs to make and sell a product and what a customer pays for it.
To be profitable, businesses must serve their
stakeholders.

profit business

22

The distribution of resources for the production of goods and services within a social system

Economics

23

the number of products businesses will sell at different prices at a specific time

supply

24

the price at which a number of products supplied equal amount of products to consumers are willing to buy at a specific time

equilibrium

25

The arrangement or relationship of positions within an organization. It is part of the "organizing" function of management.

Organizational Structure

26

authority is concentrated at the top, and very little decision-making authority is delegated to lower levels.

Centralized organizations

27

decision-making authority is delegated as far down the chain of command as possible.

Decentralized organizations

28

Types of Departmentalization

Functional
Product
Geographical
Customer

29

owned by one individual
15-20 mil in the US
3/4 of businesses

sole proprietorship

30

an association of 2 or more people who carry out business for profit

partnership