A business that collects, collates, and reports information concerning an entity’s use of
debt is referred to as a(n) _____.
A. accelerator
B. credit reporting agency
C. debt reporting organization
D. community development organization
Which of the following is true of off-the-job training?
A. It can be achieved by job rotation.
B. Assistantship is an example of off-the-job training.
C. It is typically affordable by all sizes of firms.
D. It can be conducted through role-playing.
Gross profit is defined as:
A. what is left after deducting the cost of goods sold.
B. what is left after deducting the operating expenses of the business.
C. the amount of money the owner takes out of the firm annually.
D. the profit earned by a company when its product is in the maturity stage of the
product life cycle.
Which of the following is true of accounting equation?
A. It is used to place records into understandable categories that are useful for
managing a business.
B. It assumes that a successful business will stay in business and this enables
long-range planning and strategy.
C. It underlies the legal forms of establishing businesses, such as corporations, limited
partnerships, and limited liability companies.
D. It ensures that accounting information is useful to the firm’s stakeholders.
Something of value given or pledged as security for payment of a loan is called _____.
A. chargeback
B. capital equity
C. collateral
D. personal equity
Which of the following is a formal dispute resolution method that operates using the
court system, typically with a lawyer representing each party?
A. Litigation
B. Arbitration
C. Mediation
D. Possession
When compared to open-ended questions, close-ended questions:
A. can be answered in many ways.
B. provide data that are more difficult to tabulate.
C. limit the information a researcher gets.
D. take considerably more time to ask and evaluate.
The _____ is marked by a stabilization of demand, with firms in the industry moving to
stabilize or improve profits through cost strategies.
A. decline stage
B. maturity stage
C. growth stage
D. retrenchment stage
With regard to marketing research, _____ refers to information already collected for
some other purpose than the current problem.
A. primary research
B. field research
C. first-hand research
D. secondary research
A customer group that involves large portions of the population is referred to as a
_____.
A. niche market
B. secondary market
C. local market
D. mass market
Which of the following is true of a franchise?
A. It is the international term for all small businesses.
B. It is a type of novelty organization.
C. It is an organization that provides loans to start small businesses.
D. It is a prepackaged business bought, rented, or leased from a company.