Midterm 1 recap
How was the midterm difficulty level? (1~5)
Free points!
_______ is the creation of goods using land, labor, materials, capital, entrepreneurship, and knowledge.
Production
What is the term for financial information and analysis generated primarily for individuals outside the organization, such as investors, creditors, and regulators?
Financial Accounting
Who do you consider the most influential celebrity associated with the UO? (in your opinion)
:) +100 for everyone
What is the company that reported the highest profits in the United States in 2023, generating approximately $97 billion in net profit and $383 billion in total revenue?
Apple
I am able to go to a manufacturer’s website and purchase products. This is an example of _____
Direct marketing - When you visit a manufacturer's website to purchase products directly
Name 2 types of Production Operations
Process Manufacturing, Assembly Process
In the Balance Sheet, which account measures the value of ‘loans’ (or debt contracts) the company has incurred?
Liabilities
How many libraries are there at UO?
5
Who was the first President of the United States?
George Washington
What is the goal of business?
To create wealth for its owner
What inventory management technique involves ordering just the right amount of stock to meet demand, reducing waste?
Just-in-Time (JiT) Inventory Control
Equation for Profit?
Profit = Revenue - Expenses
(T/F) Knight Library contains the largest research collection in Oregon.
True
Which freezes faster: hot or cold water?
hot water freezes faster
What are the four main phases in the Business Cycle?
Economic Boom, Recession, Depression, Recovery
One of the reasons tools like PERT and GANTT charts offer value is because they are:
A. Easy to create/ B. Complex/ C. Visual/D. Text-heavy
C. Visual
What are the costs a company incurs just for being in business, such as selling and administrative expenses, called?
Fixed costs (Operating expenses)
What degree of study did Phil Knight earn at UO?
journalism degree
What year was Martin Luther King Jr. delivered his speech “I Have a Dream”?
1963
How would you best describe demand?
the quantity of a product or service that consumers are willing and able to purchase at various prices over a specific period of time.
What is the GANTT Chart?
Bar graph of current projects and completion status
The equation for CM? (Contribution Margin)
Sales- Variable Costs
How old is the University of Oregon?
It was founded in 1876.
Which popular condiment was once sold as a medicinal cure for diarrhea?
Ketchup