EXAMS AND STUDY GUIDES(Verified 100%)2022

Describe a financial accountant. - provides historical information to external users in accordance with GAAP Describe a managerial accountant. - - provides detailed financial information and nonfinancial information to internal users for decision making, planning, and control purposes - planning, directing, controlling ___ establishes goal - Planning ___ assesses whether goals were achieved. - Control Describe the hierarchy of typical organization. - Board of directors CEO VP and...

Period Costs - Costs that are matched with the revenue of a specific time period and charged to expense as incurred. Indirect Labor - Work of factory employees that has no physical association with the finished product, or it is impractical to trace the costs to the good produced. Product Costs - costs that are a necessary and integral part of producing the finished product Manufacturing Overhead - Manufacturing costs that are indirectly associated with the manufacture of the finished p...

period costs - Costs that are matched with the revenue of a specific time period and charged to expense as incurred. indirect labor - Work of factory employees that has no physical association with the finished product, or it is impractical to trace the costs to the goods produced. product costs - Costs that are a necessary and integral part of producing the finished product. manufacturing overhead - costs that are indirectly associated with the manufacture of the finished product. m...

T/F Trademark licensing is used for brand names, logos, or slogans - True This segment describes the benefits to customers based on their wants or needs and how they use the product - Behavioral T/F Trade secret licensing must be registered with the gov - True T/F The design thinking process places a high emphasis on developing customer empathy - True T/F The design thinking process aims to develop solutions to problems - True You want to buy a gift shop in a popular location with...

One can expect their sales volume to be ______ when they are in product/market fit. [Elements of the Product/Market Fit Hypothesis] - high Product/market fit is making a product or ________ that many people want. [Elements of the Product/Market Fit Hypothesis] - service A business must provide customers with quality products to maintain customer __________. [Performance and Quality Criteria] - satisfaction A Minimum Viable Product (MVP) is a _________ used to test ease-of-use and functi...

In general, which two characteristics define a "small" business? (Choose two) - Fewer then 1,500 employees AND Less than $35.5 million revenue Classify each of the following businesses as either Physical or Digital. - Physical: - Bakery in your community - Hair salon that makes appointments online Digital: - Online store that dropships camping gear - Bookstore on Amazon that sells eBooks You need to create a legal structure for your small business. You have plans for it ...

Entrepreneurship - Setting up business with the aim to make profit. B2B (business-to-business) - Sells products and services directly to other businesses. Normally requires a sales tax exemption certificate from the buyer. B2C (business-to-consumer) - Sells products and services directly to customer for personal use. Small buisness - A small business is when a business has less than 35.5 million dollars in revenue, and fewer than 1,500 employees. S corporation(Small businesses) - is ...

James owns a restaurant with beginning cash balance of $5,000, $30,000 in sales, $2,000 in utilities, $6,000 in loans and $4,000 in marketing. What is James ending cash balance? - $24,800 Shelly owns a car dealership. She just received a shipment of teslas and paid $70,000 for each one and wants to make 25%. What should her selling price be? - $87,500 TRUE OR FALSE: Mortgage Payments are Long Term Liabilities - True Equipment is considered ... - a long term asset ROI is calculated by...

Domain 1 Lesson 1 - The key objective of a small business owner is to generate ____ - profits Entrepreneurs are willing to take on new opportunities and unknown ____ to grow their businesses rapidly - risks Tangible items that require pick-up or delivery are ____ products - physical When a ____ purchases an item from a business, it is a business-to-consumer transaction - customer ____ are for-profit corporations with limited liability - S corporations ____ are ideal for intern...

Mike owns a doggy day care. The business is economically healthy and wants to grow the business money wise. What business life cycle stage is he in. - Take off. What is the difference between small businesses and entrepreneurship? - Small business owner aren't always interested in taking on new business opportunities. What is the greatest risk to being an entrepreneur? - Financial instability. Trademark - Protects brand names and logos used on goods and services. Copyright - Protect...