Business capstone: homework and quiz , Summaries of Business Economics

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D. Haggerty,

Business capstone:

homework and quiz

Overview: The Major Fields Test (MFT) will assess your understanding of various subject matters from courses you have taken during your undergraduate experience. The study materials listed in this course have been divided into six content folders by subject matter and are intended to be a refresher to help you prepare for the questions on the MFT. To help you study efficiently, the resources in each folder have several modules which you will need to go thru and complete prior to taking the Major Fields Test. You will need to pass each module before you can take your MFT.

1. Marketing
2. Accounting
3. Finance
4. Information Systems
5. Statistics & Supply Chain
6. Management Test Submission: Extra credit
7. How can you successfully complete a review module? Check ALL the ways that apply. a. Get at least 80% on the pre-test b. Score 100% on the post test c. mark every item as "reviewed" and take the post test at least once
8. What is the last day to take the exit exam and pass the class? a. December 7, 5pm
9. If you complete all modules and take the exit exam before the deadline, you are guaranteed to pass the class. a. True
10. What are the options to take the major field test (exit exam)? Check all that apply a. At the on campus testing center (or DSS office if applicable) for free b. Through the ETS secure online proctoring service (fee applies)
11. The review modules are optional a. False Marketing (BBA) The Major Fields Test (MFT) will assess your understanding of various marketing concepts. The study materials in this module are designed to help you prepare for the marketing questions on the MFT. To help you study efficiently, the resources in this module focus on 5 marketing areas with frequently missed questions: ● Segmenting consumer and organizational markets ● Consumer and organizational buyer behavior ● Marketing research and information technology tools ● International marketing ● Service marketing Other marketing areas covered on the MFT include: ● Identifying attractive markets

awards on the walls of Carl's office, Sam hires Carl to be his real estate agent. In this example, which one of the 7Ps of service marketing did Sam use to evaluate the quality of Carl's real estate services? a) Physical evidence Area 1: Segmenting Consumer & Organizational Markets Review the resources in this folder to refresh your understanding of how to segment consumer and organizational markets. To help you retain the most important concepts, think about the reflective questions below. ➢ What is market segmentation? ➢ How can segmentation be used to improve marketing effectiveness? ➢ What are different types of market segmentation? ➢ How does consumer (B2C) and organizational (B2B) segmentation differ? https://www.qualtrics.com/experience-management/brand/what-is-market-segmentation/ Market segmentation The process of putting prospective buyers into groups that (1) have common needs and (2) will respond similarly to a marketing action Target market One or more specific groups of potential consumers toward which an organization directs its marketing program Positioning The place a product occupies in consumers' minds based on important attributes relative to competitive products Why do businesses segment markets? To respond to the wants of groups of potential buyers in hopes of increasing the company's sales and profits What are 3 market segmentation strategies? (1) One product with multiple market segments (2) Multiple products with multiple market segments (3) Mass customization Mass customization Tailoring products/services to the tastes of individual customers; for instance, build to order products (making the product only when there is an order from a customer) What are some ways to segment B2C markets? Demographic segmentation Geographic segmentation Psychographic segmentation Behavioral segmentation B2C Demographic segmentation Grouping consumers by characteristics, such

as age, gender, ethnicity, income, occupation, etc. B2C Geographic segmentation Grouping consumers by where they work or live, such as zip code, city, state, rural vs. urban areas, etc. B2C Psychographic segmentation Grouping consumers by subjective mental or emotional attributes, such as lifestyle, personality, interests, attitudes, preferences, etc. B2C Behavioral segmentation Grouping consumers by observable actions, such as where and how frequently people buy. What are some ways to segment B2B markets? Geographic segmentation by statistical area, behavioral segmentation by usage, and/or demographic segmentation (such as NAICS code or number of employees) B2B Geographical segmentation by statistical area Firms located in a city might receive a personal sales call, whereas those in a distant rural area might be contacted by telephone. B2B Demographic segmentation by NAICS code Firms categorized by the North American Industry Classification System (NAICS) code as manufacturers that deal with customers throughout the world might have different needs than companies that only serve local customers. B2B Demographic segmentation by number of employees The size of the firm is related to the volume of products/services needed, so firms with different numbers of employees can be classified in different B2B segments. B2B Behavioral segmentation by usage rate Businesses that frequently buy products/services may be put in a different segment than companies that buy less frequently. Area 2: Consumer Behavior Review the resources in this folder to refresh your understanding of consumer and organizational behavior. To help you retain the most important concepts, think about the reflective questions below. ➢ What is consumer behavior? ➢ What are the 5 stages of the consumer decision making process? ➢ What factors influence the consumer decision making process?

and the identification/evaluation of alternatives Limited decision process Consumers typically seek some information or rely on a friend or family member to help them evaluate alternatives Routine decision process Consumers spend little effort seeking external information and evaluating alternatives Consumer involvement The personal, social, and economic significance of the purchase to the consumer High involvement purchases Purchases that tend to be (1) expensive, (2) have serious personal consequences, and/or (3) reflect on one's social image Low involvement purchases Purchases not associated with much cost or risk Factors that influence the consumer purchase decision process Marketing mix influences Psychological influences Situational influences Sociocultural influences Selective exposure When people choose to only be around information that is consistent with their attitudes and beliefs, avoiding inconsistent messages Selective perception When people pay attention to messages that are consistent with their attitudes and beliefs and ignore messages that are inconsistent with them Selective retention When consumers don't remember what they see, read, and/or hear Opinion leaders Individuals who exert direct or indirect social influence over others Reference groups People consumers look to for insight; reference groups influence the information, attitudes, and aspiration levels of individuals 3 Types of reference groups Associative, aspirational, and dissociative groups Associative reference groups Groups that a person actually belongs to Aspirational reference groups Groups the person would like to identify with

Dissociative reference groups Groups a person does NOT want to be associated with Maslow's Hierarchy of Needs A theory that explains how various needs affect people's behavior 5 Levels of Maslow's Hierarchy of Needs Physiological, safety, social, personal, and self-actualization needs Buyer's remorse The feeling of regret after making a purchase Area 3: Marketing Research & Information Technology Tools Review the resources in this folder to refresh your understanding of marketing research and information technology tools. To help you retain the most important concepts, think about the reflective questions below. ● What is market research? ● Why do companies conduct market research? ● How do primary and secondary data differ? ● How does qualitative and quantitative research differ? ● How does information technology help with market research? ● What is a customer relationship management system? Marketing research The process of defining a marketing problem, collecting/analyzing information, and recommending actions to improve marketing decisions 5 Steps of the market research process Define the problem, develop the research plan, collect relevant information, develop the findings, and take marketing actions Secondary data Facts and figures that have already been recorded prior to the project at hand Primary data Facts and figures that are newly collected for the project What are the 2 main types of data? (1) Primary (2) Secondary Strengths of secondary data Saves time Saves money Limitations of secondary data (1) May be out of date and (2) may not provide the right information Strengths of primary data (1) More flexible and (2) specific to the

Strengths of quantitative research Relatively easy to analyze, allows comparisons, identifies trends, etc. Limitations of quantitative research Does not explain the reasons behind numerical trends; may not be reliable if the sample size is small, etc. Information technology All of the computing resources that collect, store, and analyze market research data Examples of market research related information technology Barcode scanners at checkout counters, online tracking software on computers, usage histories on smart phones, customer databases, etc Data mining The practice of examining large databases to find statistical relationships between consumer purchasing patterns How does a customer relationship management system help with market research? (1) Provides a central database of all customer information, (2) tracks revenue from specific leads, and (3) coordinates marketing strategy, sales, and customer service Area 4: International Marketing Review the resources in this folder to refresh your understanding of international marketing. To help you retain the most important concepts, think about the reflective questions below. ➢ What are different approaches to entering a global market? ➢ What are different ways products can be sold internationally? ➢ What are environmental forces that shape international marketing? ➢ What is the difference between standardization and customization when developing a worldwide marketing program? Major developments influencing global marketing Increased protectionism Growing competition Increased use of internet technology Growing economic espionage Environmental forces that shape international marketing Cultural, economic, and political-regulatory forces Gross domestic product (GDP) The monetary value of all products and services produced in a country during one

year Balance of trade The difference between the monetary value of a nation's exports and imports Protectionism The practice of shielding one or more industries within a country's economy from foreign competition through the use of tariffs or quotas Tariff A government tax on products or services entering a country, primarily serve to raise prices on imports Quota A restriction placed on the amount of a product allowed to enter or leave a country Bilateral trade agreement An agreement to regulate trade between 2 countries Multilateral trade agreement An agreement to regulate trade between 3 or more countries Trade war A situation in which countries try to damage each other's trade, typically by imposition of tariff and quota restrictions 3 Ways to sell a product globally Sell the product (1) in the same form as in its home market, (2) with some adaptations, or (3) as a totally new product 4 Ways to enter a global market Exporting Licensing Joint venture Direct investment Exporting Producing products in one country and selling them in another country Licensing When a company offers the right to a trademark, patent, trade secret, or other similarly valued item of intellectual property in return for a royalty or a fee Joint venture When a foreign company and a local firm invest together to create a local business Direct investment When a domestic firm invests in or owns a foreign subsidiary/division World Trade Organization (WTO) A permanent institution that sets rules governing trade between its members

Perishability Services cannot be stored for sale in the future. Heterogeneity Services are unique to each consumer or situation and cannot be mass produced. 7 Ps of service marketing Product, price, promotion, place + people, process, and physical evidence 7 Ps - Product Service provided to the customer 7 Ps - Price Amount a customer pays for the service 7 Ps - Place Ease of access to a service 7 Ps - Promotion Ways the service is communicated to consumers 7 Ps - People Employees directly or indirectly involved in the delivery of the service 7 Ps - Physical evidence Any tangible evidence that provides information about the service 7 Ps - Process The standard operating procedures used when the customer and service provider interact Marketing Post-test :

1. Marketing managers at HEB decided to segment their curbside delivery consumers by purchase frequency (bi-monthly, monthly, or weekly). Which one of the strategies below best describes HEB's market segmentation approach? a. Behavioral segmentation
2. Frank owns a small vending machine company in South Texas. His drivers service businesses, such as hospitals, office buildings, car dealerships, and airports. To save money on gasoline, Frank groups his customers by their zip codes. Which type of market segmentation did Frank use? a. Geographic segmentation
3. Leslie needs a new computer. She knows she wants a Toshiba laptop with a web camera that costs less than $1000. Which one of the stages of the consumer decision making process is illustrated in this example? a. Evaluation of alternatives
4. Brad's daughter has been repeatedly asking her dad to get her a new video game for Christmas. In mid-November Brad receives a flyer in the mail that says limited quantities of the video game will be available during Best Buy's Black Friday sale. The flyer also

has a 20% off coupon for people who shop on Black Friday. After discussing the sale with his wife, Brad decides to camp outside of Best Buy so he can purchase a copy of the game during the Black Friday sale. Which one of the factors below appears to have influenced Brad's decision to buy the video game? a. All of these factors appear to have influenced Brad

5. Joe owns and operates a popular local restaurant in San Antonio. When he approaches his bank for a loan to buy a new food truck, the manager asks Joe to provide a business plan by the end of the month. Because he is a small business owner, Joe has limited time and money to collect information for his business plan. Which one of the following types of data best suits Joe's research needs? a. Secondary data
6. Dan owns a mid-size landscaping business. Each month he asks his office manager to provide him with a report with the number of new customers, average sale per customer, and total monthly sales. Which one of the following best describes the data being analyzed each month? a. Primary quantitative data
7. In exchange for a royalty fee, Hasbro (a major U.S. toy manufacturer), agrees to internationally distribute products based on characters from Disney's trademarked movies Frozen 2 and Star Wars. In this example, which one of the international marketing strategies listed below did Hasbro choose? a. Licensing
8. Which of the following are examples of major developments that affect world trade and global marketing? Select all that apply. a. Increased competition between international companies for global customers b. The growth of cybercrime (such as hacking, phishing, spamming, and ransomware) to steal intellectual property c. The growth of cryptocurrency (such as Bitcoin) as an internet-based method of buying products and services d. Increased use of tariffs and quotas to protect international economies
9. When Maria ordered lasagna for the first time at the Olive Garden, her meal was hot and delicious. Two weeks later, she returned to the same Olive Garden and ordered lasagna again. This time her meal was bland and cold. This example illustrates which one of the service characteristics listed below? a. Heterogeneity
10. Carol, who does not own a car, wants to make a cash deposit at her bank. Because the lobby of the bank is closed, Carol rides her bike to one of the drive-thru lanes. The bank's representative tells Carol that only customers in cars or trucks are allowed to use the drive-thru lanes – so Carol will need to return tomorrow when the bank's lobby is open. Which one of the 7Ps of service marketing does this example best illustrate? a. Process Accounting Overview: The Major Fields Test (MFT) will assess your understanding of various accounting concepts. The study materials in this module are designed to help you prepare for the accounting

The annual production and sales of Product A is 2,700 units and of Product B is 1, units. There are three activity cost pools, with estimated costs and expected activity as follows:What is the cost per unit of Cost Pool #3? a. 59.

8. Spates, Inc. manufactures and sells two products: Product A and Product B. Data concerning the expected production of each product and the expected total direct labor- hours (DLHs) required to produce that output appear below.Spates, Inc.’s expected total manufacturing overhead is $266,988. If the company allocates all of its overhead based on direct labor-hours, what is the predetermined overhead rate? a. $1,286.
9. Job 910 was recently completed and the following data was recorded on its job cost sheet:The Corporation applies manufacturing overhead based on machine-hours and the calculated predetermined overhead rate is $23 per machine-hour. The total cost for Job 910 should be: a. $2,
10. Bims Corporation uses the weighted-average method in its process costing system. The Assembly Department started the month with 4,800 units in its beginning work in process inventory that were 60% complete with respect to conversion costs. An additional 68,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 37,100 units in the ending work in process inventory of the Assembly Department that were 40% complete with respect to conversion costs. What were the equivalent units for conversion costs in the Assembly Department for the month?

a. 50, Accounting Study Guide print out Accounting Post-Test (BBA)

1. The financial statement that shows the changes in ownership interest in a company over an interval of time is called the: a. Statement of Changes in Stockholders' Equity
2. The ending Retained Earnings balance of Lambert Inc. was $13.9 million this year. The company's net income earned during the year is $9.2 million and the dividends declared were $6.1 million. What was the beginning balance in Retained Earnings? a. $10.8M or 13. A company reports income tax expense of $1,700,000. Income taxes payable at the beginning and end of the year are $425,000 and $276,000, respectively. On its Statement of Cash Flows the company reports cash from operating activities using the indirect method. What amount should the company show as the adjustment for income taxes for operating cash flows?

• 149,

3. In preparing a statement of cash flows under the indirect method, an decrease in accounts payable would be reported as a(n):

a. Decrease in cash in the operating activities section.

4. Gemma Corporation sells a single product for $40 per unit. Last year, the company's sales revenue was $2,950,000 and its net operating income was $1,000,000. If fixed expenses totaled $770,000 for the year, the break-even point in sales dollars was:

a. $1,925,

b. Fixed cost/ variable %

c. 770,000/.

5. The Widget Factory is planning to sell 250,000 units for $2.00 per unit and will break even at this level of sales. Variable expenses will total $125,000. What are the company's fixed expenses at this level of sales?

a. $375,

b. (250,000*2)- 12

6. Abbe Company uses activity-based costing. The company has two products: A and B. The annual production and sales of Product A is 2,700 units and of Product B is 1, units. There are three activity cost pools, with estimated costs and expected activity as follows: What is the total expected overhead cost for Product B?

• https://www.chegg.com/homework-help/questions-and-answers/job- 910 - recently- completed-following-data-recorded-job-cost-sheet-direct-materials-direct-- q $10,

9. The Brown Shoe Corporation uses the weighted-average method in its process costing system. The Assembly Department started the month with 55,000 units in its beginning work in process inventory that were 60% complete with respect to conversion costs and 100% complete with respect to materials. An additional 75,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 44,300 units in the ending work in process inventory of the Assembly Department that were 100% complete with respect to materials costs and 35% complete with respect to conversion costs.What were the equivalent units for materials costs in the Assembly Department for the month? a. https://www.chegg.com/homework-help/questions-and-answers/binsder- company-uses-weighted-average-method-process-costing-system-assembly- department-st-q b. 130, Finance (BBA) The Major Fields Test (MFT) will assess your understanding of various finance concepts. The study materials in this module are designed to help you prepare for the finance questions on the MFT. To help you study efficiently, the resources in this module focus on the top five (5) finance areas with the most frequently missed questions: ● Financial markets and the environment ● Time value of money ● Investments: stock and bond valuation ● Risk and return ● Capital budgeting Other finance areas covered on the MFT may include: ● Capital markets ● Investments: risk and return ● Investments: options and derivatives ● Financial statement analysis In addition to studying the information in this finance module, you should review information from FINC 3337 - Business Finance.

Finance (BBA) Pre-Test https://quizlet.com/61432530/mft-finance-flash-cards/

1. The primary operating goal of a publicly-owned firm trying to best serve its stockholders should be to a. Use a well-structured managerial compensation package to reduce conflicts that may exist between stockholders and managers.
2. Some partners in a partnership may have different rights, privileges, and responsibilities than other partners. a. True
3. You recently sold 100 shares of Microsoft stock to your brother at a family reunion. At the reunion your brother gave you a check for the stock and you gave your brother the stock certificates. Which of the following best describes this transaction?

a.. This is an example of a direct transfer of capital.

4. The annual rate of return on any given stock can be found as the stock's dividend for the year plus the change in the stock's price during the year, divided by its beginning-of-year price. If you obtain such data on a large portfolio of stocks, like those in the S&P 500, find the rate of return on each stock, and then average those returns, this would give you an idea of stock market returns for the year in question. a. TRUE
5. As a result of compounding, the effective annual rate on a bank deposit (or a loan) is alwAll other things held constant, the present value of a given annual annuity increases as the number of periods per year increases. a. FALSE = right answer
6. All other things held constant, the present value of a given annual annuity increases as the number of periods per year increases. a. FALSE
7. Which of the following would be most likely to lead to a higher level of interest rates in the economy? a. corporations step up their expansion plans and thus increase their demand for capital.
8. Assume that all interest rates in the economy decline from 10% to 9%. Which of the following bonds would have the largest percentage increase in price? a. A 10 - year zero coupon bond.
9. From an investor's perspective, a firm's preferred stock is generally considered to be less risky than its common stock but more risky than its bonds. However, from a corporate issuer's standpoint, these risk relationships are reversed: bonds are the most risky for the firm, preferred is next, and common is least risky. a. TRUE
10. A stock's beta measures its diversifiable risk relative to the diversifiable risks of other firms. a. FALSE Finance post test BBA
11. AT&T Inc. recently issued bonds that mature in 10 years. They have a par value of