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Bus 100 Chapters 14 to 16

e-business
the organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society’s needs through the facilities available on the Internet
media sharing sites
allow users to upload photos, videos, and podcasts
podcasts
digital audio or video flies that people listen to or watch online on tablets, computers, MP3 players, or smartphones
inbound marketing
a marketing term that describes new ways of gaining attention and ultimately customers by creating content on a website that pulls customers in
social media
the online interactions that allow people and businesses to communicate and share ideas, personal information, and information about products and services
Millennials
tech-savvy digital natives born after 1980
business-to-business model
a model used by firms that conduct business with other businesses
business-to-consumer model
a model used by firms that focus on conducting business with individual consumers
revenue stream
a source of revenue flowing into a firm
cookie
a small piece of software sent by a website that tracks an individual’s Internet use
malware
a general term that describes software designed to infiltrate a computer system without the user’s consent
Social media can most accurately be described as being about
People.
Which of the following describes an interactive community bulletin board?
Forums.
What is a podcast?
A digital audio or video file.
Which of the following companies was one of the early adopters of consumer ratings?
Amazon.
Which of the following is the last step in building a social media plan?
Listen to determine opportunities.
Each objective of a social media plan should be all of the following except
Achievable.
Which of the following is true about social media measurement tools?
Most companies use quantitive measurements.
A customer tracking system is an example of e-business _______________ resources.
Informational.
What percentage of worldwide Internet users do Americans represent?
10.
Which of the types of resources needed for an e-business is Storybook.com most likely to receive from a venture capitalist?
Financial.
False.
Just under 45 percent of U.S. adults use some sort of social media. T or F.
False.
Engaging customers in generating new ideas for products or services is an unethical use of social media. T or F.
True.
The cost to create and distribute photos, videos, and podcasts should be a consideration when a business is trying to decide if it should participate in media sharing. T or F.
False.
Angry Birds is a popular blog. T or F.
True.
A wiki is an online collaborative working space where people contribute content. T or F.
True.
The two types of social media measurement are quantitative and qualitative. T or F.
False.
Sources of revenue flowing into the firm are referred to as revenue channels. T or F.
True.
Firms t hat tend to focus on conducting e-business with other businesses are referred to as having a B2B focus. T or F.
False.
When General Electric uses the Internet to purchase materials from its suppliers, it is using a B2C business model. T or F.
True.
Outsourcing is the process of finding outside vendors and suppliers that provide professional help, parts, or materials at a lower cost. T or F.
Assets
Inventories are an example.
Balance sheet
This statement reveals the financial position of the firm.
Cost of goods sold
the dollar amount equal to beginning inventory plus net purchases less ending inventory
Current ratio
The result of dividing current assets by current liabilities.
Data processing
It transforms data into useful information.
Information
Data that have been processed.
Liabilities
A term for the debts of a firm.
Liquidity
The ease with which assets can be converted into cash.
Knowledge management
It incorporates a firm’s procedures for generating, using, and sharing the data and information contained in the firm’s database.
Owners’ equity
It is the difference between a firm’s assets and its liabilities.
Public accountant
Works on a fee basis for clients and may be self-employed or be the employee of an accounting firm.
Statement of cash flows
It illustrates how operating, investing, and financing activities affect cash.
True.
The more information a manager has, the less risk there is that a decision will be incorrect. T or F.
False.
A single collection of data stored in one place is called a data center. T or F.
False.
Information is defined as numerical or verbal descriptions that usually result from sort of measurement. T or F.
False.
In a business report, the conclusions present suggestions on how the problem might be solved. T or F.
True.
An expert system uses artificial intelligence to imitate a human’s ability to think. T or F.
True.
There is added protection for whistle-blowers who report violations of the Sarbanes-Oxley Act. T or F.
False.
A private accountant is an accountant whose services may be hired on a fee basis by individu-als or business firms. T or F.
False.
The accounting equation is assets 1 liabilities 5 owners’ equity. T or F.
True.
Marketable securities can be converted into cash in a matter of days. T or F.
True.
Stockholders’ equity represents the total value of a corporation’s stock plus retained earnings that have accumulated to date. T or F.
Which statement is not true about a balance sheet?
It summarizes the firm’s revenues and expenses during one accounting period.
The board of directors decided to pay 50 percent of the firm’s $460,000 earnings in dividends to the stockholders. The firm has retained earnings of $680,000 on the books. After the dividends are paid, which of the following statements is true about the firm’s retained earnings account?
The new value of the firm’s retained earnings is $910,000.
A firm had gross profits from sales in the amount of $180,000, operating expenses of $90,000, and federal incomes taxes of $20,000. What was the firm’s net income after taxes?
$70,000
The Sarbanes-Oxley Act
All of the above are true.
You are a purchasing manager in a large firm and are responsible for deciding on and ordering the appropriate software program that allows the user to prepare and edit letters and store them on a computer memory stick. Which type of program will you order?
Word processing
An income statement is sometimes called the
earnings statement.
When a company reports financial numbers that are lower than expected, generally
the company’s stock value will decrease.
An audit is
required by many lenders who are trying to validate a firm’s accounting statements.
Management information systems
collect, store, update, process, and present data.
As an administrative manager, you must ensure that
information is used in a consistent manner.
It is the movement of money into and out of a business organization.
cash flow
Determining a firm’s financial needs is one of its important functions.
financial management
A loan that is approved before the money is actually needed.
line of credit
Funding that comes from the sale of stock.
equity capital
Payments are usually made in 30 to 60 days from the invoice date.
trade credit
Must receive dividends before common stockholders.
preferred stock
It is pledged as security for a loan.
collateral
A method of financing that is a legally binding and enforceable and often issued to suppliers.
promissory note
The deposits are used for redeeming a bond issue.
sinking fund
This investment is backed by the reputation of the issuing corporation.
debenture bond
A written order for a bank or other financial institution to pay a stated dollar amount to a specified business or person is called a
check.
Judy Martinez, owner of Judy’s Fashions, received a $12,000 tax refund. She deposited the money in Chase Bank. The terms of the agreement are that she must leave the money on deposit for three years and the bank will pay her 1 percent interest. Her account is a
certificate of deposit.
An invoice in the amount of $200 carries cash terms of “2/10, net 30.” If the buyer takes advantage of the discount terms, how much will the buyer pay?
$196
When a firm sells its accounts receivable to raise short-term cash, it is engaging in a strategy called
factoring.
Retained earnings, as a form of equity financing, are
undistributed profits.
Since prices are extremely low, the Pipeline Supply Company wants to purchase a special line of pipes from a company going out of business. Pipeline, however, will need to borrow money to make this deal. Which assets will Pipeline most commonly pledge as collateral for this short-term loan?
inventory
The most basic form of corporate ownership that has voting rights is
common stock.
A short-term promissory note issued by large corporations is known as
commercial paper.
Each of the following causes a cash flow problem except
customers who pay on time.
The primary sources of funds available to a busi-ness include all of the following except
government grants.
True.
Long-term financing is generally used to open new businesses.
False.
A budg et is a historical record of the previous year’s financial activities.
False.
When you use a debit card to make a purchase, a financial institution is extending credit to you and expects to be paid in the future.
False.
With a banker’s acceptance, certain conditions, such as delivery of the merchandise, may be specified before payment is made.
True.
Most lenders do not require collateral for short-term financing.
True.
A revolving credit agreement is a guaranteed line of credit.
True.
Factoring of accounts receivable typically is the highest cost method of short-term financing.
True.
Normally , the usual repayment period for a long-term loan is three to seven years.
False.
The usual face value for most corporate bonds is $5,000.
False.
A capital budget estimates a firm’s expenditures for labor costs and other monthly expenses.

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