What should you NOT do to SHORTEN your sales cycles?
A. Set up next steps
B. Improve the qualification process
C. Rely on other team members for product knowledge
D. Use the same sales presentation
C. Rely on other team members for product knowledge
100
If you see that a company earned $240,000 in February, $300,000 in April and $400,000 in July...what conclusion could you draw?
A. Capital assets are depreciating more slowly
B. Sales are steadily increasing
C. Cash flow is decreasing
D. Customer service is getting negative reviews
B. Sales are steadily increasing
100
Most businesses receive their primary source of cash flow IN from where?
A. Sales
B. Credit
C. Payrool
D. Fees
A. Sales
100
Comparing the sales budget to the actual sales for a time period can help do what?
A. Compare income with outgoing funds
B. Evaluate cost/benefit analysis
C. Compare estimated performance with actual performance
D. Ensure perfect ROI
C. Compare estimated performance with actual performance
100
What is a function of some taxes?
A. Regulate business activity
B. Limit business profit
C. Control employee healthcare
D. Control employee morale
A. Regulate business activity
200
What barrier to creativity is occurring if a sales team takes a break when they experience low sales before trying again?
A. Stress
B. Originality
C. Limiting code of behavior
D. Need to be correct
C. Limiting code of behavior
200
The price of capital goods was double what was projected for the year. What can the business determine by looking at that financial information?
A. Variances
B. Demand
C. Elasticity
D. Forecasting errors
A. Variances
200
Most businesses have ________________ as the largest source of cash flowing OUT.
A. Accounts receivable
B. Payroll
C. Electricity
D. Sales
B. Payroll
200
What income statement category is equivalent to total profit?
A. Net profit
B. Total sales
C. Gross profit
D. Net sales
C. Gross profit
200
How are public schools usually funded in the US?
A. Local property taxes
B. Corporate taxes
C. Federal income taxes
D. Tax-exempt donations
A. Local property taxes
300
What personality trait is often associated with creative people?
A. Routines
B. Independence
C. Low energy
D. Perfectionist
B. Independence
300
Which situation is a manager most likely to use financial information for?
A. Researching target market demographics
B. Determining resources available for a new project
C. Calculating training attendance
D. Establishing a line of communication
B. Determining resources available for a new project
300
Why do companies need a flow of money?
A. To exist
B. To sell
C. To invest
D. To compete
A. To exist
300
What categories does a business use on their balance sheet?
A. Assets, liabilities & equity
B. Costs, sales & deductibles
C. Payables, receivables & equity
D. Assets, liabilities & net worth
A. Assets, liabilities & equity
300
If you believe that the upper class should pay a higher income tax rate, what tax structure do you favor?
A. Exclusive
B. Proportional
C. Regressive
D. Progressive
D. Progressive
400
Why are sales important for a business?
A. They must keep increasing to exist
B. They always measure success
C. They are all that matters
D. They make up most of the income
D. They make up most of the income
400
What can industry trends help a business estimate?
A. Expenses
B. Sales
C. Economic cycle
D. Labor costs
B. Sales
400
What 2 figures can affect cash flow but aren't always liquid?
A. Equity & net worth
B. Accounts payable & accounts receivable
C. Assets & liabilities
D. Checking & savings
B. Accounts payable & accounts receivable
400
Why do businesses prepare balance sheets?
A. Authorized income
B. Expected budget
C. Current financial situation
D. Consistent spending
C. Current financial situation
400
During economic fluctuations what do taxes do for society?
A. Inflate
B. Stabilize
C. Reduce
D. Evolve
B. Stabilize
500
Why are sales important?
A. They are always increasing
B. They are the main source of cash flow IN
C. They are the main source of cash flow OUT
D. They must increase for a company to exist
B. They are the main source of cash flow IN
500
What is financial information used for?
A. To come up with new products
B. To create a new company
C. To make financial decisions
D. To hire people
C. To make financial decisions
500
What can change the expected cash flow of a business?
A. Increase in employees
B. Increase in cost of capital
C. Decrease in sales
D. All of the above
D. All of the above
500
What can a company discover by comparing categories in an income statement?
A. If expenses are too low
B. If expenses are too high
C. If earning is beneficial
D. If earning it too high
B. If expenses are too high
500
When the government taxes companies who fail to meet certain requirements, what is that called?
A. Unethical
B. Regulating
C. Illegal
D. Direct control