A _____ structure has a wide span of control, little formalization, and highly decentralized decision making.
Organic
100
Expenses that remain the same over a wide range of quantities produced.
Fixed expenses
200
How are assets listed on the balance sheet?
In order of liquidity
200
The process of dividing a market into groups of potential buyers who have similar needs and wants is:
Market segmentation
200
Define throughput time.
The amount of time it takes from start to finish including queue time.
200
This type of organization has a strong sense of cohesion, with goals that are strongly shared. Inside, the organization may feel more ‘family like’ than ‘business like.’ This type of culture can be called:
Clan culture
200
Where is the NASDAQ located?
Online
300
What type of auditor's opinion is a positive one?
Unqualified opinion
300
What is a target market?
The market segment to which a particular product or service is marketed.
300
For the following process, what is the throughput time? Copy (14 sec.), Collate (11 sec.), Staple (23 sec.), Bind (27 sec.)
75 seconds
300
What is the highest form of emotional intelligence?
Relationship management
300
Name Porter's Five Forces.
Barriers to entry, Rivalry, Buyer power, Supplier power, Threat of substitutes
400
On the 15th of the month, a company makes $8000 in payments to suppliers. $7000 is for supplies purchased today for use later in the month. The other $1000 is for supplies purchased on credit and used last month. The $8000 cash disbursement would be recorded as a:
Debit of $7000 to supplies inventory, a credit to cash of $8000, and debit to accounts payable of $1000
400
The promotion mix includes Mass Selling, Sales Promotion and....
Personal selling
400
During the copy task, 5 packets have errors, the staple is on the wrong side on 2 packets, and the holes in the drilling process are misaligned on 8 packets. If we started out with 100 packets what would be our yield for the entire process?
85%
400
In the SMG building, the marble floors, the wearing of suits and the large gold globe are all ______ of the organizational culture present.
Artifacts
400
What is the difference between appraisal costs and prevention costs?
Prevention costs: The costs of all activities designed to prevent poor quality in products.
Appraisal costs: The costs associated with measuring and evaluating products to assure that they are up to quality standards.
500
Determine net income for the period if beginning owner's equity is $20,000, cash dividends paid out are $7,000, and ending owner's equity is $37,000.
$24,000 (NI = Revenues - Expenses - Dividends)
500
Describe the product life cycle.
Introduction - Growth - Maturity - Decline
500
A relative passes away and leaves you some money. You are given two choices – the first is a lump sum payment today of $40,000 or $100,000 four years from now. Since the discount rate is 18%, which should you prefer?
The $100,000 four years from now
500
Organizational culture generally starts with what?