Unit 1+2
Why should businesses pursue repeat customers?
A. They will spend the most over time.
B. They care the least about customer service.
C. They do not require further marketing efforts.
D. They are most likely to review the business on social media.
A. They will spend the most over time.
Why would a business selling fur coats want to limit the discount on them during a promotion?
A. If prices are too low, customers will question the quality.
B. A discount suggests that the product is defective and unsellable.
C. No one who buys luxury goods will participate in a promotion.
D. Few customers will buy more than one, so a discount is irrelevant.
A. If prices are too low, customers will question the quality.
Why does lowering interest rates help the economy?
A. All actions by the Fed help the economy.
B. Low rates are not usually followed by raising rates.
C. More people borrow when rates are low, so more money is spent.
D. Interest rates are similar to exchange rates for international currency.
C. More people borrow when rates are low, so more money is spent.
Joe worked 44 hrs this week and worked 32 hrs last week.His employer says she doesn't get any overtime. Is this correct?
A. Yes, the hours worked are averaged over the course of a month.
B. Yes, it is not the employer’s fault
C. No, overtime depends on the hours worked during one week only
D. No, paid sick leave is legally required
C. No, overtime depends on the hours worked during one week only
What is the formula for Shareholder Equity?
A. Total Liabilities-Total Assets
B. Total Assets-Total Liabilities
C. Total Liabilities +Total Assets
D. Total Assets/Total Liabilities
B. Total Assets-Total Liabilities
Under what circumstances should a company increase its marketing budget?
A. when more competition comes into the area
B. when promotions through social media are particularly effective
C. if a lot of money has been spent on marketing with few visible results
D. if customers constantly comment about noticing marketing efforts
A. when more competition comes into the area
Which is a good example of marketing campaign emphasizing quality?
A. Pizza Hut offering delivery
B. Wendy’s featuring fresh beef
C. Taco Bell selling combo meals
D. Panera providing comfortable seating
B. Wendy’s featuring fresh beef
Jim invested $4,000 in a bond at 4.5% yearly rate. He earned $540 in interest. How long was the money invested?
Remember the formula is: I=PxRxT
3 Years
Jack is offered a salary of $60,000 a year. This company issues paychecks twice a month. What will be the gross pay?
A. $6,000
B. $5,000
C. $2,500
D. $1,250
C. $2,500
How do fiscal periods help with accounting?
A. They always must be a year.
B. They can be any period that the business determines.
C. Financial information can be compared over comparable periods.
D. Any discrepancies can be eliminated by tracking finances over time.
C. Financial information can be compared over comparable periods.
What is the point of messaging?
A. emphasizing how the product is made
B. communicating ideas about a product
C. determining which customers will buy the product
D. warning customers about any risks associated with the product
B. communicating ideas about a product
Which business could use a promotional discount most effectively?
A. a local coffee shop
B. a snow removal service
C. a big-box discount store
D. a specialty hardware store
B. a snow removal service
Which of these is the best example of trade credit?
A. A plumbing company decides to only accept credit cards.
B. A potato chip factory uses electronic transfers to pay employees.
C. A textile factory pays for a large fabric order over several months.
D. A pretzel store wants to open a second location and needs a bank loan.
C. A textile factory pays for a large fabric order over several months.
Under which circumstances do tipped employees have to pay taxes on their tips?
A. They are always required to report tips as income.
B. They earn less than minimum wage, even with tips.
C. The state that they work in pays less than minimum wage.
D. If some customers do not tip, they do not have report tip income.
A. They are always required to report tips as income.
If a business invests in stocks or another business, what is its goal?
A. to create a mutual fund
B. to earn revenue for the company
C. to help expand business product
D. to decrease the amount of taxes a business pays
B. to earn revenue for the company
Which of these is an example of a marketing tactic?
A. find a cheaper supplier
B. hiring a marketing firm
C. having a sale to bring in customers
D. setting a sales goal for the next quarter
C. having a sale to bring in customers
Which explains why cash discounts are more common in B2B marketing than B2C?
A. Most other forms of promotional marketing are just for consumers.
B. Businesses will form a relationship with clients and consumer do not.
C. Businesses are likely to pay with cash than consumers, who prefer credit.
D. Businesses tend to have more cash and make larger purchases than consumers.
D. Businesses tend to have more cash and make larger purchases than consumers.
Determine the simple interest for these loans. $600 at 4% for 9 months?
Remember, you find interest rate by: I=PxRxT
$18.00 Interest
Total: $618
Why do you need to fill out a W-4 Form for?
A. to tell how many people live with this employee
B. the percentage of state taxes taken out for their state
C. the number of people on the employee's medical insurance
D. the federal rates for the deductions for the dependents at this pay rate
D. the federal rates for the deductions for the dependents at this pay rate
Which of these is most likely to use cash basis accounting?
A. a big-box appliance store
B. a cloud computing service
C. a family-owned pizza place
D. a multinational corporation
C. a family-owned pizza place
Which of these would be the best business to use demographic marketing?
A. a regional donut shop
B. an organic frozen yogurt stand
C. a jacket that accommodates technology
D. a gym that specializes in senior citizens
D. a gym that specializes in senior citizens
What kind of product would want to emphasize that it is easy to use in its product marketing mix?
A. ear buds
B. a basketball
C. specialty running shoes
D. a collapsible baby stroller
D. a collapsible baby stroller
Determine the simple interest for these loans. $450 at 7% for 2 years?
Remember, the formula is I=PxRxT.
$63.00
Jim works 38hrs one week and then worked 46hrs the next week at $12 per hour. What is her gross for a two week period?
A. $840
B. $936
C. $1,008
D. $1,044
D. $1,044
What is the formula for net income?
A. total expenses-total revenue
B. total revenue-total expenses
C. total revenue+total expenses
D. total expenses+inventory-total revenue
B. total revenue-total expenses