*BIZ - Business Acumen Flashcards

1
Q

Statement of an organization’s financial position at a specific point in time, showing assets, liabilities, and shareholder equity.

A

Balance sheet

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2
Q

Ability to use information to gain a deeper understanding of an organization and make sound business decisions.

A

Business intelligence

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3
Q

Ratio of gross profit to net sales.

A

Gross profit margin

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4
Q

Amount of owners’ or shareholders’ portion of a business.

A

Equity

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5
Q

Presentation to management that establishes that a specific problem exists and argues for a proposed solution.

A

Business case

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6
Q

Statement that reports revenues, expenses, and profits for a specified period of time, for example, quarterly or annually.

A

Income statement

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7
Q

Applications that can analyze data faster and in more ways than traditional relational databases, offering a multidimensional analysis of business data.

A

Analytical processing

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8
Q

The process by which an organization creates the product or service it offers to the customer.

A

Value chain

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9
Q

Business management software, usually a suite of integrated applications, that a company can use to collect, store, manage, and interpret data from many business activities.

A

Enterprise resource planning (ERP)

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10
Q

Money an organization’s customers owe the organization.

A

Accounts receivable

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11
Q

Organization’s debts and other financial obligations.

A

Liabilities

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12
Q

Statement of an organization’s ability to meet its current and short-term obligations, showing incoming and outgoing cash and cash reserves in operations, investments, and financing.

A

Cash flow statement

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13
Q

Money an organization owes its vendors and suppliers.

A

Accounts payable

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14
Q

Ratio of net income (gross sales minus expenses and taxes) to net sales.

A

Net profit margin

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15
Q

The benefit created when an organization meets its strategic goals; measure of usefulness, worth, or importance.

A

Value

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16
Q

Document that defines the output customers can expect.

A

Service-level agreement

17
Q

Financial, physical, and sometimes intangible properties an organization owns.

A

Assets

18
Q

Performance management tool that depicts an organization’s overall performance, as measured against goals, lagging indicators, and leading indicators.

A

Balanced scorecard