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FM > 3RD year midterm > Flashcards

3RD year midterm Flashcards

1
Q

What early man’s needs was provided by its natural resources.

A

1st Stage- Direct Appropriation Stage

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2
Q

Goods and services directly exchange for other goods and services

A

2nd Stage- Barter/Direct
Exchange

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3
Q

DIFFICULTIES OF BARTER

A

Product do not have the same value
No double coincidence of wants
Lack of store value
It is cumbersome, inconvenient and indivisible

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4
Q

Some goods because of its usefulness, beauty, scarcity and rarity commands a wide acceptance as medium of exchange.

A

3rd Stage- The Use of Commodity as Money

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5
Q

(rice, corn, wheat, salt, tea, cattle)

A

Non-Metallic

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6
Q

gold, silver, copper

A

Metallic Money

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7
Q

material value is equal it’s monetary value

A

Intrinsic value

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8
Q

Money whose monetary value is more than its material or commodity value

A

4th Stage- Credit Money

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9
Q

Money comes from the Greek Word

A

Moneta

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10
Q

Anything which is used as a medium of exchange and is widely accepted for the payment of goods and services, debts and obligations within a given territory without reference to the credit standing of the person who offers it

A

money

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11
Q

mandatory law that makes money accepted in payment for all kinds of services

A

Legal Tender Power

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12
Q

any form of money which according to law is acceptable for all forms of obligations

A

Legal Tender Power

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13
Q

What are Considered Legal Tender Money in
the Philippines

A

Notes and coins issued by BSP

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14
Q

money serves as a common medium or tool of exchange.

A

As a Medium of Exchange

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15
Q

money serves as a measuring device in which value of goods and services can be expressed.

A

As a Standard Unit of Value

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16
Q

The money that we use as a medium of exchange is the same money we can use to pay for our debts and obligations

A

As a Standard of Deferred Payment

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17
Q

money has the quality to be kept or stored for future use

A

As a Store of Value

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18
Q

accepted by anyone in exchange for goods and services

A

General Acceptance

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19
Q

value must not change every now and then and not susceptible to fluctuations, devaluation, inflation, etc.

A

Stability

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20
Q

money is made light, to be easily carried from one place to another

A

Portability

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21
Q

design should not only be aesthetically beautiful but also difficult to counterfeit.

A

Cognizability

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22
Q

money must withstand longer period of time against wear and tear

A

Durability

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22
Q

divisible into small parts and likewise possible to recombine these small parts into bigger denominations

A

Divisibility

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23
Q

money can be melted and beaten into a desired shape to conform to the specification of the government

A

Malleability

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24
Q

money must conform to certain standard to avoid confusion (size, shape, and color)

A

Uniformity

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25
Q

material used must be uniform in composition throughout

A

Homogeneity

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26
Q

money that is made up of
precious metal or another valuable commodity

A

Commodity Money

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27
Q

domestic currency can only be used in its country of origin. If it is used in another country, it needs to be exchanged with the currency of the of that country.

A

Currency (Bills and Coins)

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28
Q

Generally used by businesses and persons in conducting business, as well as personal transactions

A

Check

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29
Q

relate to decisions concerning stocks and bonds and include a number of activities: (1) security analysis; (2) portfolio theory; (3) market analysis

A

Investments

30
Q

is the system that includes the circulation of money, the granting of credit, the making of investments, and the provision of banking facilities.

A

Finance

31
Q

also called corporate finance, focuses on decisions relating to how much and what types of assets to buy, how to raise capital needed to buy assets, and how to run the firm so as to maximize its value.

A

Financial Management

32
Q

relate to the markets where interest rates, along with stock and bond prices are determined. Also studied are the financial institutions that supply capital to businesses.

A

Capital Markets

33
Q

a business owned by one individual.

A

Sole Proprietorship

34
Q

a legal entity created by a state, separate and distinct from its owners and managers.

A

Corporation

35
Q

means planning, organizing, directing and controlling the financial activities such as procurement and utilization of funds of the enterprise.

A

Financial Management

36
Q

It means applying general management principles to financial resources of the enterprise.

A

Financial Management

37
Q

is generally concerned with short term working capital management, focusing on current assets and current liabilities, and managing fluctuations in foreign currency and product cycles, often through hedging.

A

Financial Management

38
Q

is generally concerned with procurement, allocation and control of financial resources of a concern to maximize shareholder value and it deals with the monetary decisions that business enterprises make.

A

financial management

39
Q

A finance manager has to make estimation with regards to capital requirements of the company.

A

Estimation of capital requirements

40
Q

this involves short- term and long- term debt equity analysis. This will depend upon the proportion of equity capital a company is possessing and additional funds which have to be raised from outside parties.

A

Determination of capital composition

41
Q

The finance manager has to decide to allocate funds into profitable ventures so that there is safety on investment and regular returns is possible.

A

Investment of funds

42
Q

The net profits decision have to be made by the finance manager

A

Disposal of surplus

43
Q

It includes identifying the rate of dividends and other benefits like bonus.

A

Dividend declaration

44
Q

The volume has to be decided which will depend upon expansional, innovational, diversification plans of the company.

A

Retained profits

45
Q

Finance manager has to make decisions with regards to cash management

A

Management of cash

46
Q

is required for many purposes like payment of wages and salaries, payment of electricity and water bills, payment to creditors, meeting current liabilities, maintenance of enough stock, purchase of raw materials, etc.

A

Cash

47
Q

The finance manager has not only to plan, procure and utilize the funds but he also has to exercise control over finances.

A

Financial controls

48
Q

This can be done through many techniques like ratio analysis, financial forecasting, cost and profit control, etc.

A

Financial controls

49
Q

In order to meet the obligation of the business it is important to have enough cash and liquidity.

A

Raising of Funds

50
Q

It is the responsibility of a financial manager to decide the ratio between debt and equity.

A

Raising of Funds

51
Q

The funds should be allocated in such a manner that they are optimally used.

A

Allocation of Funds

52
Q

is one of the prime functions of any business organization.

A

Profit earning

53
Q

is important for survival and sustenance of any organization.

A

Profit earning

54
Q

refers to proper usage of the profit generated by the firm.

A

Profit planning

55
Q

Shares of a company are traded on stock exchange and there is a continuous sale and purchase of securities.

A

Understanding Capital Markets

56
Q

a projection of future sales, revenues, earnings, costs and other possible variables that are helpful in the firm’s operations

A

Forecasting

57
Q

primary objective is to reduce the risk or uncertainty that the firm will face in making decisions

A

Forecasting

58
Q

the starting point of business planning

A

Forecasting

59
Q

Makes use of the forecast as a tool for long-range planning, particularly in providing a basis for performance targets, implementing long-range strategic objectives, and making capital budgeting decisions

A

Top Management

60
Q

Utilizes the forecasts to determine the amount of raw materials that will be needed in production, the budget, schedule of production activities, inventory levels to maintain so as not to disrupt the production, labour hours, and the schedule of shipments

A

Production Manager

61
Q

Uses the forecast to ascertain the volume or bulk of materials that should be purchased for a particular period

A

Purchasing Manager`

62
Q

Makes use of the forecast to estimate how much sales should be made in a particular period, and to plan promotional and advertising activities for the products

A

Marketing Manager

63
Q

Uses the forecast to anticipate the funding needed by the firm

A

Finance Manager

64
Q

Utilizes the forecast to supply the human resource needed in achieving the firm’s objectives

A

Human Resource Manager

65
Q

Incorporate factors such as the decision maker’s intuition, emotion, personal experiences, and value system; useful in formulating short-term forecasts.

A

Qualitative (or judgment) forecasts.

66
Q

The views of the managers or a group with a high level of expertise, often in a combination with statistical models, are synthesized to generate a consensual forecast.

A

Expert Opinions

67
Q

Similar to the expert opinion except that members of a group of experts are asked individually through a questionnaire about their forecast of future events

A

Delphi Method

68
Q

Useful for long-range forecasting and the results are not by the group or by strong leadership

A

Delphi Method

69
Q

Every sales person estimates the sales in his or her region; the responsibility of drawing up the forecast lies with the people who will actually work for the forecasted value; simple and practical

A

Sales Force Polling

70
Q

Firms, at times, conduct their own or potential customer surveys to accumulate information regarding future purchasing plans.

A

Consumer Market Surveys

71
Q

requires that the expert provide three estimates: pessimistic (a), the most likely (m), and optimistic (b). the theory suggests that these estimates combine to form an expected value, or forecast.

A

PERT-derived Forecasts

72
Q

Includes measure of dispersion (the standard deviation), which makes it possible to develop probabilistic statements regarding the forecast

A

PERT-derived Forecasts

73
Q
A

FM (3 decks)

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