1
Credit extended by one business to anotherto help finance distribution of a producer's goods is known as:
Trade credit
The FTC Funeral rule went into effect in
1984
What state does not require licensing for funeral service practitioners
Colorado
When arranging a gathering after a service, the first concern should be:
Deciding on a location or similar wording
Which of the following terms describing generations was not included in Kicker's chapter describing funeral consumers
Gen Z
A business which independently owned and operated and in its field of operations is called?
Small business
A written description of a new idea that projects marketing, operational, and financial aspects of a proposed business is called
Business plan
The registered right of a creator to reproduce, publish, and sell the work which is the product of the intelligence and skill of that person is called?
Copyright
federal legislation that mandates that employers provide a workplace that is free from hazards likely to cause death or serious physical harm
OSHA
The art and science of motivating people toward the achievement of a goal
management
those appropriate and helpful acts of counseling, personal and/or written contact that come after the funeral are termed
aftdercare
the process of human beings responding to verbal/nonverbal behavior is termed:
communication
The loss in a value of a fixed asset due to wear and tear and the passage of time is called
depreciation
the introduction of something new is called
innovation
the formal financial statement which presents the income, expenses, and resulting net profit or net loss for a given period is called
statement of financial position
The difference between gross profit and expenses when expenses are larger describes
net loss
Name the three types of business activities
Merchandising, manufacturing, services
the business function of effectively obtaining and using funds is termed
finance
The "E" in EBITDA
Earnings
Funds invested in such long-term assets as: land, building, machinery, furniture, fixtures, and other equipment, not to be converted into cash within one year, are collectively called:
Fixed Capital
any debts that a business owes are considered part of
liabilities
An owner's financial interest ina business is termed
Capital
a group of potential customers having purchasing power and unsatisfied needs describes
market
The difference between assets and liabilites is
net worth or owners equity
centers on estimating the amount of potential income that may be produced by the business in the next year
The earnings valuation approach