Let's Sell It
Your personal picture of the world.
What is perception?
An economic system based on private enterprise
What is a Market Economy?
When a fixed asset depreciates it does what?
Decreases in value
Your favortie NBA player endorses Gatorade, so you buy it. This is an example of what?
Opinion leader
What is the accounting equation?
Assets =Liabilities + Owner's equity
A marketing plan is designed to attract target customers through a set of....?
What are strategies?
A tax based on the amount of profit a business makes.
What is an Income Tax?
Items of value are listed under which of the following components of the balance sheet?
Assets
Sales forecasting that is based on expert opinion and personal experience.
What is Qualitative forecasting?
One reason why creditors review a business's income statement is to decide if the business will be able to ...?
Repay a loan
Most Sales forecasts are based on past sales performances as well as...?
Expected market conditions
A way for a business to lower its tax bill
What are deductions?
Who studies a balance sheet to determine if the company will provide a good rate of return?
Investor
Social belonging is considered what type of need?
Higher Order need
Revenue
A buying decision begins with what?
A need or a want
The government agency that oversees taxes.
What is the Internal Revenue Service, IRS
Who studies a balance sheet to determine a company's credit worthiness?
Bank or Creditor
Sales forecasting based on the analysis of hard facts and numerical data.
What is Quantitative sales forecasting?
Businesses often compare the income statement information for several consecutive years to calculate what?
Sales growth
A tax on retail purchases.
What is a sales tax?
Mortgages are considered what type of liability?
Long-term liability
Martin is an American, but he identifies himself as Hispanic. Martin belongs to an American what?
subculture
The portion of the business's value that belongs to its owners or stockholders is known as ....?
Equity