The sum of all the money borrowed by the government over the years and not yet repaid
What is the federal debt?
100
_____ is said to occur when a new product line “eats” the sales of an existing line.
What is cannibalization?
100
_____ skills refer to expertise in a specific functional area or department.
What are technical skills?
100
This financial statement summarizes a firm’s financial position at a specific point in time by listing its assets, liabilities, and owners' equity.
What is a balance sheet?
100
These types of businesses are not in the business of financial gain.
What are non-profit organizations?
200
The situation when tax revenue is higher than government expenditures
What is a budget surplus?
200
When a business satisfies customers’ wants and needs by providing goods and services at a convenient moment for customers.
What is time utility?
200
defines the organization’s purpose, values, and core goals, providing the framework for all other plans.
What is a mission?
200
The branch of accounting that addresses the needs of the external stakeholders, including stockholders, creditors, and government regulators.
What is financial accounting?
200
Fresh water, wind, buildings, and coal would all be considered as this factor of production.
What is a natural resource?
300
This term refers to government efforts to influence the economy through taxation and spending decisions designed to encourage growth, boost employment, and curb inflation.
What is monetary policy?
300
A well-chosen one of these embodies the following characteristics: size, profitability, accessibility, and limited competition.
What is a target market?
300
Data become this when they are processed, organized, and presented in a way that makes them useful to a decision maker in a company.
What is information?
300
In financial management, the degree of uncertainty related to the actual outcome of a decision
What is risk?
300
This term is used to describe business transactions that occur online.
What is e-commerce?
400
The maximum amount Congress lets the government borrow.
What is the debt ceiling?
400
The _____ stage of the new product life cycle leads to detailed descriptions of each concept with specific product features.
What is the development stage?
400
Promoting career development of employees is one of the duties of a company's _____ department.
What is human resources?
400
Financial managers use this analysis tool to assess the financial strengths and weaknesses of their firm.
What is ratio analysis?
400
This type of business formation is by far the most common type of business organization in the United States.
What is a sole proprietorship?
500
This agency has the responsibility of controlling the money supply of the United States.
What is the Federal Reserve?
500
_____ are marketing intermediaries that sell directly to final consumers.
What are retailers?
500
An organization’s activities and processes that involve the physical flow of goods from the raw material stage to the final consumer
What is a supply chain?
500
When a firm reinvests some of its net income rather than distributing it to owners, the result is an increase in the firm’s:
What are retained earnings?
500
General, limited, and limited liability are three types of this business formation.