Midterm 2 Flashcards
Mitchelle works in the HR department at a large retailers. Part of her job involves determining the number of people needed in 1 year and estimating people currently employed at the retailer to fill various jobs. This part of her job i called
Supply forecasting
Ashley just got hired at Lulu Lemondate. Part of her training consists of learning how to use the machinery required to make different drinks. What type of on the job training is this
Job orientation
Fred is looking to hire a manager in the customer service department at Green Plant Company. He posts the job on Indeed. He is hiring from
The external labor market
Benefits…
can be mixed and matched, dependant on the firm to allow for customizable coverage
Anne works at a company selling potato chips. She recently has a meeting with her manager where they compared her actual performance with expected performance. After which they described compensation and possible job changes
A performance appraisal
___ and ____ can impact an employee’s pay
Position in the company and salaries paid by competition
Maxime just got a new job in sales. Her salary starts at $40,000 with an additional 3$ on any sales past $50,000 of product sold. This is an example of
Base pay and commission
Union membership has _____ over the past three decades
Decreased
If Ben and Jerry’s Ice Cream has a goal of investing 2 percent of their after-tax profits in the charitable contribution that goal:
Helps to define corporate culture
What company’s hiring process exhibits how they want their employees to treat their customers
Ritz- Carlton
Meghan is reading a job posting to be a financial analyst intern. The section of the posting she is reading describes the task and the responsibilities mandatory for the role. She is reading the ____ qualifications
Job description
Chart
This is a PERT chart that shows that “install windows”, “install roof”, and “install exterior” take 18 days to be be completed
Maria is an executive for a manufacturing company. For the company to become more competitive, they need to streamline how they make their products. They can do this by
Automating their factories, focusing on quality-control techniques, and developing new production processes
Layout is…
All of the above
For manufacturers to continually improve efficiency they must
Fine-tune their production processes to focus on quality, hold down the cost of material and labor, eliminate all costs that add no value to the finished product
The Canadian economy has changed from a goods producer to a service producer over the last ___ years
60
Tamera works in an engineering firm and wants to digitally test a product that she has been designing. What software/system is she using?
Computer-Aided Design (CAD)
Frankenstein is an operations manager. He ensures that the final product made is of good quality and will be beneficial to customers. He is focused on the utility of
Form
____ accounting supports the decisions of internal clients while ____ accounting provides information to external users such as shareholders, banks, and the government
Managerial; financial
What is sallys equity?
+$5250
Which of the following is categorized as a current asset?
Accounts Receivable
Tori wants to use ratios to see how well-positioned Wallymart is to pay bills in the near future. She should use..
Liquidity Ratio
Ryan is interested in investing a mining company. He is calculating their earnings per share and notices is has a value of $4.25 in 2018 and $4.75 in 2019. This indicates that
It has a profit of 12%
When calculating the return on owners equity, the net income figure comes from the ___ and the owner’s equity figure comes from the ___
Income statement, balance sheet
What is the return on equity for a perfect poster if net income is $12,585 and total owner’s equity is $111,155? Is this good or bad?
11.3% can’t tell
When calculating the return on sales, the net income figure comes from the ___, and the sales revenue figure comes from the ____
Income statement, income statement
What is the return on sales if net income is $12,585 and sales revenue is $256,585? Is this good or bad?
4.9% can’t tell
When calculating the current ratio, we divide ___ by __ and both these figures are found on the ___
current assets, current liabilities, balance sheet
If the current assets for perfect posters inc are $57,210 and the current liabilities are $21, 935 then the current ratio is____ . Is this good or bad>
2.61, this is good
If the current assets for perfect posters inc are $57,210 and the current liabilities are $21, 935, the working capital for this company is? And working capital is defined as ___
$35,275, money available to put towards daily operations
When calculating the age of receivables, age of payables, & age of inventory, receiveable payables, and inventory figures are found in the ____, while costs figure is found in the
Balance Sheet, Income Statement
Hayley is looking into investing in an energy company. She is calculating their debt to equity ratio and notices it has a value of 0.6. This means that
They have invested more into the business than they have borrowed as the number is less than 1
Which statement best fits into the alternative evaluation step of the purchase decision process?
I can’t decide b/w a designer box, convenience pack
What is marketing?
process includes meeting customer needs, includes identifying customer needs
Anna was reviewing a job offer she got for Emerald Engineering. The details included a $70,000 base salary as well as health insurance and 14-days of vacation time. The health insurance and 14-days of vacation time is an example of:
Indirect Pay
______ and _______ training are the two ways that employees can be trained.
On-the-job; off-the-job
Wallymart Company is currently in a human resource shortage. They decide to act on this by…
Hiring new staff, Paying current employees’ overtime, and Subcontracting
Marley just got hired as a graphic designer. While she was going through the hiring process, she was able to negotiate her own salary and benefits. Marley is…
Not part of union
The main steps of the Human Resource Management process are:
Hiring, Developing, and Evaluating
Liam applied for a job at a Real Estate Investment Trust. He has filled out an application, submitted his resume, and had a phone call with a member of their HR team. They recently sent him a personality test to complete. He is currently in which part of the employee recruitment process?
Employment Testing
Starbucks unique strategy was dependant on:
Offering health benefits to part-time workers, Offering stock ownership to part-time workers, focusing on experiential marketing
Job specification…
Contains the skills, knowledge, and abilities a person must have to fill a job
There are ____ sources of job applicants.
2
KPMG developed ________ to guide employees and establish consistency worldwide.
A code of conduct
A job analysis is a study of the _____ required to do a job well. This information is used to specify the ________ required for the job.
Tasks; essential skills, knowledge, and abilities
Ryan works construction and is part of a union. He has a complaint about the health and safety at one of his job sites. Ryan wants to reach out to his union to let them know about this issue. He should reach out to:
A shop steward
Martino applied for a job at a large accounting firm. He has currently filled out an application, submitted his resume, and had a phone call with a member of their HR team. He is currently in which part of the employee recruitment process?
Initial Screening
Monika was reviewing a job offer she got for Sapphire Engineering. The details included a $70,000 base salary as well as health insurance and 14-days of vacation time. The $70,000 base salary is an example of:
Direct Pay
Robert works for the City of Guelph. He does not personally dispute his pay, hours, or working conditions. Robert is…
Part of a union
Burger King redesigned their facilities to accommodate the needs of their customers while keeping costs low by…
Wrapping their Whoppers in paper instead of cardboard boxes that took up more space
A critical path is…
The path that took the longest amount of time
Accounting is defined as…
The process of measuring and summarizing business activities, interpreting financial information, and communicating the results to management and other decision-makers
Management accounting…
Provides information that is intended for use by people who perform a wide variety of jobs
Brittany is looking at the financial statements for her business. She wants to find out how much her total cost of goods is. What financial statement should she look at and what is the term for what she’s looking for?
Income Statement; Cost of Goods Sold
Andrew wants to use ratios to see how much borrowing Wallymart has done in order to finance the operations of the business. He would use…
Debt ratios
Financial accounting…
Adheres to the International Financial Reporting Standards (IFRS)
What statement is this? sales, Cogs, Gross profit
Income Statement
Tori wants to use ratios to see how well-positioned Wallymart is to pay bills in the near future. She would use…
Liquidity ratios
Accounting is valued because…
It communicates a company’s financial performance, It interprets financial information, It measures and summarizes financial activities, and It helps stakeholders make better business decisions
Earnings Per Share is an example of a(n)…
Profitability ratio
Accounting and financial reporting is important for investors as…
It allows them to assess a company’s performance and make a smart investment decision
Deb is looking at Pear’s financial statements from previous years and is making yearly comparisons. This is commonly referred to as a..
Horizontal analysis
Cash flow reports cash in what distinct areas of business?
Cash from operations, cash from investing, cash from financing
The difference between a publicly traded company and a private company is…
Publicly traded companies are traded on the stock exchange and privately traded companies are not, Publicly traded companies release their financial statements to the general public and private companies do not
Nathan is thinking of investing in Spencer’s Shrimp Shack. He wants to know how much cash is coming in and going out of the company. What statement should he look at?
Statement of Cash Flows
What ratio measures the degree to which a company is financing their operations through their own funds versus debt?
Debt to equity ratio
Five influences can have an impact on a consumer’s purchase decision process, which are purchase task, social surrounds, physical surroundings, temporal effects, and antecedent states. These are referred to as
Situational Influences
All of the following are functions of marketing except
manufacturing the product
What need (s) does this commercial target on Maslow’s hierarchy of needs
Self-actualization, personal needs, social needs, safety needs, and psychological needs
Which table is longer
both