BUS3-10 Final Exam (BC-B,17-20 Quizzes)

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A key element of Internet2 is:

the very-high-speed Backbone Network Service (vBNS).

Many _________, which ran software at data centers and rented software services to customers, went out of business after the Web boom cooled off.

application service providers

Instability in technology:

remains a serious problem that is caused by a variety of factors.

The _____________ was created as a part of the Office of Homeland Security and given the responsibility to devise a plan for improving the security of America’s critical infrastructure.

Critical Infrastructure Protection Board

__________ refers to a variety of software applications that analyze an organization’s raw data and obtain useful insights from it.

Business intelligence

__________ includes computers, printers, tablets, and smart phones.


__________ is copyrighted software that is distributed to potential customers free of charge. However, customers are expected to pay the developer a fee if they decide to use it.


Information mainly used for security purposes such as fingerprinting and retinal scans is known as:

biological data

___________ technology uses cable modems, digital subscriber lines, fixed wireless, and satellites to provide users with significantly faster Internet connections than are provided by traditional 56k modems.


Moore’s Law says that the capacity of computer chips _________ every year or so.


A major problem with the rapid expansion in the amount of information available to managers is that:

managers can become overwhelmed with too much information.

The ability of the Critical Infrastructure Protection Board to achieve its mission depends crucially on:

convincing information managers in the private sector to report problems such as hacker attacks and viruses to the government.

A company that wanted to provide a single, unified entry point to its network that would allow different types of users access to different types of resources could do so by establishing a(n):

enterprise portal

Compared to the Internet, a major advantage of Internet2 is that it:

can move information much faster than the Internet and has the capacity to handle heavy-duty applications.

Which of the following is an advantage of telecommuting?

Firms may be able to retain workers who would otherwise leave or retire by allowing them to work at home.

A major impact of information technology has been to:

create organizations that are independent of location.

A firm would use data mining if it wanted to:

discover hidden relationships among the data it accumulates.

From the 1970s to the present time, the primary role of business technology has:

changed from supporting business to providing new ways of doing business.

An important advantage knowledge technology has over older versions of business technology is that it:

delivers timely information directly to the people who need it.

A firm that wanted to enable its employees to use and share data without allowing outsiders to gain access could do so by establishing a(n):


Accounting recognizes that assets, such as machinery and buildings, lose value over time. Accountants will record a portion of the cost of an asset as an expense each year through the use of:


In the course of their jobs, bookkeepers:

record business transactions.

A ___________ provides a summary of cash coming into and money going out of a firm from operations activities, financing activities, and investing activities.

statement of cash flows

Which of the following is an example of a financial transaction?

A firm purchases a fire insurance policy.

An important difference between accounting and other business functions, such as marketing and management, is that:

Accounting offers us insight into whether the business is financially sound.

The three important financial statements prepared by accountants are:

Balance sheet, income statement, and statement of cash flows.

The _____ shows the assets, liabilities, and owners’ equity of a firm, at a specific point in time.

balance sheet

Expenses a firm incurs for insurance, office salaries, and rent are classified as:

general expenses on an income statement.

_______ refers to the value that stockholders or owners have in a company.

Owners’ equity

Company resources that are purchased with the intention that they will convert to cash within one year are:

current assets

Earnings per share, return on sales, and return on equity are examples of:

profitability ratios

Jose just graduated from college with a bachelor’s degree in accounting. He plans to go to work for the American Cancer Society as an accountant. Jose will be a(n):

private accountant

The use of computerized accounting systems _____________.

allows firms to generate financial information almost instantly and whenever the organization needs it.

During a period of rising prices, using FIFO (first in, first out) inventory valuation method will result in ________ net income figures than would LIFO (last in, first out).


During a period of rising prices, if a firm desires to report a low gross profit figure in hopes of reducing their income tax liability, the firm will use the __________ inventory valuation method.

LIFO (last in, first out)

________ measures the speed of inventory moving through the firm and its conversion into sales.

Inventory turnover ratio

As an accountant, Joe Billing’s responsibilities include:

Summarizing and interpreting financial information needed by his firm’s managers.

When reviewing the Balance Sheet for Preferred Pet Care, Inc., a mobile small animal care business, Julian noted the following information: Company assets totaling $3.5 million, and liabilities totaling $1.3 million. On paper, the net worth (owner’s equity) for this business = ___________.

$2.2 million

In the Making Ethical Decisions box titled, "Barking-Up the Wrong Financial Statement," the situation provides the student with an ethical dilemma that might present itself to an accounting professional. The story focuses on: Is it ethical to __________________________

account for sales and profits at a time period, before or after the time these sales and profits actually occurred?

Many business decisions are made in hopes of improving a firm’s "bottom line." Which of the following financial statements will reveal a firm’s "bottom line"?

income statement

One of the challenges of effective financial management is:

to have sufficient cash on hand without compromising the firm’s investment potential.

Which of the following statements is most accurate?

Financial managers need to understand accounting.

Businesses acquire long-term financing from two major sources:

debt financing and equity financing

Selling accounts receivable to obtain short-term funds is called:


Which of the following statements about taxes is accurate?

Profitable businesses usually pay taxes.

Which of the following provides the buyer with collateral?

secured bond

In order to assist in revenue realization, a(n) ________ allocates resources throughout the firm.


To reduce the time and expense of collecting their accounts receivable, some firms:

accept bank credit cards

________ examine the data prepared by ________ and then make recommendations to top management regarding strategies for improving the firm.

financial managers; accountants

The overall objective of financial planning is to:

optimize the firm’s profitability

Carlos wants to know the income potential for his computer consulting business during the next five years. Which of the following would be most helpful?

long-term forecast

The effective management of accounts receivable requires financial managers to:

review the credit history of new customers.

"Good Finance or Bad Medicine," the topic title of the Making Ethical Decisions box, has an important message for managers who make financial decisions. Which of the following statements summarizes this passage’s theme?

Managers must balance good economic decisions with socially forward thinking decisions.

Farmers Savings and Loan agreed to extend Eckert’s Orchards $200,000 of unsecured short-term funds, contingent upon the bank having the funds available. This arrangement represents a:

line of credit

Ariel, a recent graduate in finance from a well-known university, was hired by a large corporation to work in tax management. Ariel’s goal is:

To minimize the firm’s tax consequences.

By borrowing $10 million from First Dayton Bank, Hi-Lo Industries is utilizing ________.

debt financing

Which of these is a common source of long-term financing for a corporation?

a bond issue

Susan started a cake decorating business that failed. She is convinced that she lacked the necessary funds to promote her business and get it off the ground. Susan experienced:


One of the primary factors that influences the interest rate a firm pays on long-term loans is the:

General level of market interest rates.

Carlos is the manager of Oh! Canada Sporting Goods. During the past six months, his cash expenditures have exceeded his cash receipts. Oh! Canada is suffering from a(n) ________ problem.

cash flow

Successful use of financial leverage requires a firm to:

earn a higher return on its investments than the interest rate it pays to acquire funds.

The rationale behind offering customers credit is:

Permitting customers to pay with credit cards or on credit makes it easier for them to buy, and it also attracts new customers.

The first step in the financial planning process is:

forecasting financial needs

Typically, only highly regarded customers with financial stability receive __________.

unsecured loans

Energy-wise Builders, Inc, a leader in residential housing, recently negotiated a financing arrangement with First Pennsylvania Bank. The short-term funding agreement guarantees a specified amount of funds would be made available upon Energy-wise’s request. This arrangement represents a:

revolving credit agreement

Which of the following would normally involve long-term financing?

Purchase of modern equipment

Which of these statements about corporate bonds is correct?

Interest paid to bondholders represents a tax-deductible business expense.

Maryland Nursery offers customers credit terms of 3/15 net 30. This gives customers a:

three percent discount if they pay in fifteen days.

Which of the following describes a benefit enjoyed by investors in mutual funds?

Investors by an ownership interest in many different companies

When corporations elect to issue two or more shares of stock to existing stockholders for each share they currently own, they have initiated a(n) ___________.

stock split

The __________ is a large national electronic stock trading market.


Corporations issuing ___________ bonds pledge a tangible asset as collateral to reduce the risk incurred by a bondholder.


Some analysts refer to ____________ stocks as issues that seek for less than $2 (others say: for less than $5)


When reading mutual fund quotations, the ___________ is the price per share.

NAV (Net Asset Value)

Another term for portfolio strategy is:

allocation model

___________ involve(s) computer instructions that automatically sell stocks whose value has dropped by a predetermined amount.

Program trading

The higher the risk associated with a bond issue, the __________ the interest rate the organization must offer investors.


The corporate certificate issued to an investor that has loaned money to the corporation or government is called a:


To reduce the risk of investing in an individual stock, an ownership position in many different companies can be achieved by purchasing shares in a(n):

mutual fund

The risk/return tradeoff investors assume means:

you will assume added risk, if you believe you can get a greater return

Which of the following describes a mutual fund that charges no commission to buy or sell its shares?

no-load fund

The initial cost of investing in mutual funds depends in part on:

whether the fund is a load or no-load fund

Investment bankers provide __________ services by purchasing the entire new security issue from a corporation seeking to raise capital, and selling it to interested investors.


Bonds perceived as high risk typically pay __________ interest rates.


Reviewing the stock market performance between 2000 and 2002 reveals a:

significant decrease in value

On-line trading services target those investors who:

are willing to do their own research

If an investor’s strategy is "buy low, and sell high", we could conclude that his optimism regarding future stock price increases indicates that he is:


Which of the following would be classified as an institutional investor?

Pension funds

Which of the following is a bank service provided to help companies conduct business in other countries?

Currency exchange

Which of the following represents a benefit of coins over paper money?

Improved durability

The organization responsible for conducting monetary policy in the U.S. is the:

Federal Reserve System

Early settlers of the New World relied heavily on barter because:

strict laws limited the number of coins that could be brought into the colonies

Which of the following represent an independent agency of the U.S. government that insures bank deposits?


Which of the following is not a favorable characteristic of money?

Barter-ability Favorable characteristics are: portability, divisibility, stability, durability, and uniqueness

_________ represents the most commonly used definition of the money supply.


_________ are nonprofit, member-owned financial cooperatives that offer a full variety of banking services such as accepting deposits and making loans.

Credit unions

The _________ provides the same results as a check because it withdraws funds from a checking account.

Debit card

If the Fed increases interest rates in the U.S. relative to other nations,

foreign investors are likely to transfer funds to U.S. investments.

Commercial banks, savings and loan associations, and credit unions:

accept deposits and make loans.

Hottie Potatee, a popular chain of urban potato bars buys its multi-processing ovens from a German company. With its current push fro expansion, the company has signed a __________ with Across-the-Pond, Inc., Global Banking Company, to issue payment to the German manufacturer, once the ovens are installed and Hottie Potatee is assured that the ovens meet its quality assurance standards.

letter of credit

Which of the following historical events motivated Congress to establish the Federal Reserve System?

The banking panic and cash shortage of 1907

Which of the following institutions primarily finances economic development projects in less-developed countries?

The World Bank

Which of the following represents one way the Fed increases the amount of money in circulation?

Buy government securities

An increase in the rate of inflation would likely result from a(n):

increase in the supply of money in circulation.

The purpose of creating the FDIC was to:

restore confidence in banking institutions.

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