QUESTIONS :

1. A good marketing strategy should carry a product through all stages of the product life cycle. 

True 
False 

2. A person who works as a sales representative for a manufacturer or wholesaler and gets paid a commission on any sales is a(n): 

3. A(n) _____ is the legally exclusive design, name, or identifying mark associated with a company’s brand. 

4. An accounting journal is a chronological list of transactions, each assigned to a particular account. 

True 
False 

5. Another term for owners’ equity is: 

6. By lowering the reserve requirement, the Federal Reserve tries to make more money available for loans and stimulate the economy 

True 
False 

7. Chez Dove is an independent coffeehouse/bookstore that went bankrupt only eight months after opening due to an unexpected demand for cash to fix a leaking roof. Better cash _____ might have allowed the business to continue operation 

8. Federal Reserve banks must hold a certain portion of their deposits in reserve. This percentage is called the: 

9. Finance companies make loans to people who could not get credit anywhere else. To compensate for taking this extra risk, finance companies: 

10. Grainger Distribution Company sold Long Electronics ten circuit breakers for $179.00 each. Long Electronics will be allowed thirty days to pay the bill. Grainger will carry the $1790.00 on its books as a(n): 

11. In which stage of the product life cycle are you most likely to find the manufacturer using a line extension strategy? 

12. Integrated marketing communications (IMC): 

13. Lines of credit are short-term loans that are secured by collateral. 

True 
False 

14. Municipal bonds are attractive to investors because interest earned on them is exempt from federal income tax 

True 
False 

15. Price skimming is often used as an inducement to get consumers to switch brands or companies. 

True 
False 

16. The balance sheet summarizes a firm’s financial position over a period of time, for instance 3 months or a year. 

True 
False 

17. The four major groupings of consumer products are: 

18. The Securities Investor Protection Corporation (SIPC): 

19. The _____ is a series of marketing entities through which goods and services pass on their way from producers to end-users 

20. The _____ summarizes an organization’s financial status at the end of an accounting period 

21. Watts Regulator makes hydroponic pressure valves used in water pumps and water heaters. Watts had $100,000 in net sales for the month. Cost of goods sold was $42,000. On an income statement, the remaining $58,000 would be classified as: here] 

22. When Nissan sells a new Sentra and receives the proceeds, the transaction is similar to the _____ market. When the same Sentra is traded in the used car market, the transaction is similar to the _____ market. 

23. Which of the following is an activity performed by the Federal Reserve System as it carries out its monetary policy? 

24. Which of the following statements about the accounting profession is true? 

25. _____ is the system used to record a firm’s financial transactions in a routine and clerical process.