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Mortuary Management Flashcards

1
Q

An individual that assumes the risks associated with a new venture start-up can be referred to as a(n):

Accountant
Entrepreneur
Market Repsresentative
Sales Representative

A

Entrepreneur

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2
Q

What is a group of potential customers that are recognized as possessing purchasing power and unsatisfied needs?

Economic base
Economic order quantity (EOQ)
Demographics
Market

A

Market

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3
Q

What is any capital that is invested in a business by the owner(s)?

Borrowed Capital
Debt Capital
Equity Capital
Loaned Capital

A

Equity Capital

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4
Q

Any credit that is extended from one business to another in order to help finance the distribution of goods from the producer is called:

Equity Capital
Fixed Capital
Personal Equity
Trade Credit

A

Trade Credit

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5
Q

Long-term capital that is invested in a business is referred to as:

Current Assets
Current Liabilities
Fixed Capital
Short-Term Capital

A

Fixed Capital

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6
Q

If a prospective business owner attempts to statistically study such factors as human population size, density, distribution and wealth, we would refer to this as:

Demographics
Inventory control
Marketing
Trade credit

A

Demographics

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7
Q

What is the main objective in a market survey?

  1. To decide how much money to spend in advertising.
  2. To determine where the potential customers are.
  3. To decide how many managers will be needed.
  4. To decide how much money to spend on travel.

1
2
3
4

A

2

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8
Q

What is the art of making the public aware of one’s products and/or services that are for sale?

Advertising
Inventory control
Overhead
Sales promotion

A

Advertising

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9
Q

What is the effort undertaken to retain and preserve the assets and earning power of a business?

Consumer credit
Mark-up
Marketing
Risk Management

A

Risk Management

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10
Q

Factors associated with evaluating a credit risk would involve all of the following except:

Credit application
Credit investigation
Inventory control considerations
Setting a credit limit

A

Inventory control considerations

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11
Q

What is a line of credit that may be used over and over again up to a certain borrowing limit?

  1. Closed-end credit.
  2. Revolving account.
  3. Trade credit.
  4. Open-end credit.

1 and 2
1 and 3
2 and 4
3 and 4

A

2 and 4

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12
Q

In business, what is a reduction of selling price below the original selling price?

Consumer credit
Markdown
Mark-up
Overhead

A

Markdown

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13
Q

Capital invested in the busines by the owner is known as:

  1. Equity Capital
  2. Debt Equity
  3. Personal Capital

4 Trade Capital.

1 and 2
1 and 3
2 and 4
3 and 4

A

1 and 3

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14
Q

In a business, the name, goodwill, copyrights and patents are referred to as:

Intangible Assets
Intangible Expenses
Tangible Assets
Tangible Expenses

A

Intangible Assets

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15
Q

Which of the following are functions of management?

  1. Actuating
  2. Innovation
  3. Competition
  4. Controlling

1 and 2
1 and 4
2 and 4
3 and 4

A

1 and 4

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16
Q

In organizing a business, a legal form of organization that is authorized by a state to operate a busines under a state charter is referred to as:

Corporation
Limited partnership
Partnership
Proprietorship

A

Corporation

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17
Q

A written description of a new idea that projects marketing, operational and financial aspects of a proposed business is known as:

  1. Business Plan
  2. Entrepreneurial Plan
  3. Market Survey
  4. New Venture Plan

1 and 2
1 and 4
2 and 3
2 and 4

A

1 and 4

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18
Q

Which of the following is an external problem and risk of business ownership?

  1. Financial Shortages
  2. Human Resource Planning
  3. Mismanagement
  4. Tax Burdens

1 and 3
1 and 4
2 and 4
3 and 4

A

2 and 4

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19
Q

A management function which compares organization and individual performance with predetermined standards or expected results is known as:

  1. Actuating
  2. Controlling
  3. Evaluating
  4. Planning

1 and 2
1 and 4
2 and 3
3 and 4

A

2 and 3

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20
Q

Which of the following is an intangible asset?

  1. Building
  2. Goodwill
  3. Inventory
  4. Name of the Business

1 and 3
2 and 3
2 and 4
3 and 4

A

2 and 4

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21
Q

Which of the following are advantages of a corporation?

  1. Ease of starting
  2. Large financial capability
  3. Limited liability of each owner
  4. Low cost of organization

1 and 2
1 and 3
2 and 3
3 and 4

A

2 and 3

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22
Q

Which of the following are advantages of a sole proprietorship?

  1. Ease of starting
  2. Efficiency of labor
  3. Continuity of existence
  4. Profit incentive

1 and 3
1 and 4
2 and 4
3 and 4

A

1 and 4

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23
Q

Which of the following are disadvantages of a corporation?

  1. Legal restrictions on activities
  2. Continuity in existence
  3. Limited size
  4. Lack of personal interest

1 and 2
1 and 4
2 and 3
3 and 4

A

1 and 4

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24
Q

Which of the following are disadvantages of a sole proprietorship?

  1. Double taxation of earnings
  2. Divided authority
  3. Unlimited liability
  4. Limited management ability

1 and 2
1 and 4
2 and 3
3 and 4

A

3 and 4

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25
Q

Which of the following are examples of debt capital?

  1. Equity Capital
  2. Personal Capital
  3. Commercial Loans
  4. Venture Capitalists

1 and 2
1 and 3
2 and 4
3 and 4

A

3 and 4

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26
Q

Which of the following are advantages of a partnership?

  1. Freedom to manage
  2. Efficiency of labor
  3. Combined management, talent and capital
  4. Continuity of existence

1 and 2
1 and 4
2 and 3
3 and 4

A

2 and 3

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27
Q

Which of the following are advantages of extending credit?

  1. Capital is tied up in merchandise bought by charge customers.
  2. Sales are increased.
  3. Goodwill is built up and easily maintained
  4. Some losses from bad debts and customers with fraudulent intentions are bound to occur.

1 and 2
1 and 4
2 and 3
3 and 4

A

2 and 3

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28
Q

Which of the following are disadvantages of a partnership?

  1. Divided authority among partners.
  2. Death or incapacity of one of the partners may end the partnership.
  3. Double taxation.
  4. Separation of ownership and control.

1 and 2
1 and 4
2 and 3
3 and 4

A

1 and 2

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29
Q

Legislation that guarantees disabled people equal access to employment, as well as access to public places is know as:

BFOQ
ADA
FTC
OSHA

A

ADA

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30
Q

A governmental agency with the responsibility for regulatory and enforcement of safety and health matters for most United Sates employees is knwon as:

ADA
EPA
OSHA
FTC

A

OSHA

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31
Q

A document which lists the major responsibilities and tasks of the job is known as a job:

Application
Analysis
Description
Specification

A

Description

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32
Q

What is a type of credit granted by retailers that is used by individuals for the satisfaction of their own wants?

Closed-end mortgage
Consumer credit
open-end mortgage
Trade credit

A

Consumer credit

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33
Q

What is the form of legal organization that is owned and operated by one person?

Corporation
Joint Venture
Partnership
Proprietorship

A

Proprietorship

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34
Q

What is a form of legal organization in which a business association made up of two or more persons is formed for the purpose of carrying on as co-owners?

Corporation
Joint Venture
Partnership
Proprieorship

A

Partnership

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35
Q

What is a legal form of organization whereby a legal entity is authorized by a state to operate a business under the entity’s charter or article of incorporation?

Corporation
Joint Venture
Partnership
Proprietorship

A

Corporation

36
Q

One who organizes, manages and assumes the risk of a business firm or venture is known as:

A chief operating officer
A majority stockholder
An entrepreneur
An efficiency expert

A

An entrepreneur

37
Q

What is the combination of two or more individual’s talents and capital serving as an advantage in the legal form of organization?

Corporation
LLC
Partnership
Proprietorship

A

Partnership

38
Q

What is the current asset items consisting of cash, inventories and accounts receivable?

Circulating Capital
Debt Capital
Equity Capital
Fixed Capital

A

Circulating Capital

39
Q

Which of the following is NOT a characterisitc of a small business?

Actively managed by stockholders
Highly personalized
Largely local in its area of operation
Small in size within the industry

A

Actively managed by stockholders

40
Q

Which of the following is NOT a consumer buying motive?

Comfort
Indemnity
Prestige
Security

41
Q

What is the statistical study of human populations with respect to their size, density, distribution comparison and income?

Demographics
Economic Bases
Environmental Study
Vital Statistics

A

Demographics

42
Q

A factor to be considered with the evaluation of a credit risk would be the:

Credit application
Mark-up of product
Product color
Size of product

A

Credit application

43
Q

What is capital invested in the business by the owner(s)?

Circulating Capital
Debt Capital
Equity Capital
Working Capital

A

Equity Capital

44
Q

Which of the following would NOT be an insurance risk to consider?

Death of key employees
Liability to the public
Riots
Terms of Sale

A

Terms of Sale

45
Q

A source of debt capital would include:

Commercial loans
Equity Capital
Personal Capital
Working Capital

A

Commercial loans

46
Q

Which of the following is NOT a way to reduce risks?

Eliminate the risks
Minimize the risks
Shif the risks
Take on more risks

A

Take on more risks

47
Q

What is a plan which provides inducements to potential purchasers of products and/or services?

Advertising
Business Plan
Marketing
Sales Promotion

A

Sales Promotion

48
Q

Which of the following is a requirement for a building layout?

Accessibility
Customer Service
Buying Habits
Hours of Operation

A

Accessibility

49
Q

Which of the following is an internal problem that can lead to business failure?

Capital shortages
Government regulations
Lack of expertise
Tax burdens

A

Lack of expertise

50
Q

When selecting employees, the applicant’s appearance, poise, speech and other characteristics may be best determined by:

An employment interview
Checking references
Employment records
Reading the resume

A

An employment interview

51
Q

Which of the following is an external problem that can lead to small business failure?

Bad location
Consumerism
Financial shortages
Lack of expertise

A

Consumerism

52
Q

Which of the following has the disadvantage of no limit being placed on the owner’s personal liability?

Corporation
Copperative
LLC
Proprietorship

A

Proprietorship

53
Q

Which of the following is NOT included on the employment application?

Applicant’s Education
Applicant’s Name
Applicant’s Sex
Applicant’s Social Security Number

A

Applicant’s Sex

54
Q

Which one of the following is an example of a variable expense?

Depreciation
Insurance
Repairs
Supervisory Salaries

55
Q

Which of the following is NOT used to measure the success of advertising?

Customer behavior
Income trends in the community
Number of items sold
Overall sales

A

Income trends in the community

56
Q

Which of the following statements is true concerning consumer credit?

  1. Credit customers are more interested in price than quality and service.
  2. Credit customers are more interested in quality and service than price.
  3. Credit customers will be less regular than cash customers.
  4. Credit never leads to bad debt.

1
2
3
4

57
Q

What is long term capital invested into the business?

Circulating Capital
Equity Capital
Fixed Capital
Working Capital

A

Fixed Capital

58
Q

A strategy to minimize business risk would be to:

Have good management
Purchase outside insurance
Remove the cause
Self-insure

A

Have good management

59
Q

Which of the following is NOT an advantage of a corporation?

  1. Continuity
  2. Easy transfer of ownership interest.
  3. Legal financial responsibility.
  4. Legal restrictions on activities.

1
2
3
4

60
Q

Which of the following federal laws prohibits wage discrimination based on the sex of the worker?

  1. Age Discrimination Employment Act of 1968
  2. Civil Rights Act of 1964
  3. Equal Employment Opportunity Act of 1972
  4. Equal Pay Act of 1963

1
2
3
4

61
Q

Which of the following is recognized as a disadvantage of extending credit?

  1. Credit customers are more regular buyers than cash customers.
  2. Goodwill is built up and maintained.
  3. Sales are increased.
  4. Some losses from bad debts and customers with fraudulent intentions are bound to occur.

1
2
3
4

62
Q

What is wealth produced in or near a community that provides employment and income to the local population?

Economic Base
Economic Zone
Income Base
Trade Area

A

Economic Base

63
Q

Which of the following is not a factor which can affect the recruitment and selection of employees?

Geographic location
Identity of the organization
Religion
Wages and benefits

64
Q

What is the practice of trying to get something that is being sought by others under similar circumstances at the same time?

Advertising
Competition
Merchandising
Public Relations

A

Competition

65
Q

What is the principal government agency concerned with financing, operation and management of small businesses?

National Chamber of Commerce Association
Small Business Administration
Small Business Association
Small Finance Administration

A

Small Business Administration

66
Q

Which of the following is an internal problem that can contribute to the failure of a business?

Consumersism
Governmental Regulation
Financial Shortages
Personnel Recruitng Difficulties

A

Financial Shortages

67
Q

What is a written description of a new idea that projects marketing, operational and financial aspects of a proposed business?

Angel Plan
Business Plan
Speculative Plan
Start-Up Plan

A

Business Plan

68
Q

Which of the following is normally NOT a source of published market data?

Census of Banking
Census of Business
Census of Manufacturing
Census of Population

A

Census of Banking

69
Q

Which of the following laws prohibits discrimination against any qualified individual with a disability?

Age Discrimination Act
Americans with Disabilities Act
Fair Labor Standard Act
Rehabilitation Act

A

Americans with Disabilities Act

70
Q

What does business interruption insurance cover?

Incompetence of the owner
Lost Income
Neglect of Product Mix
Product Liability

A

Lost Income

71
Q

What is life insurance that protects the business against losses due to the death of a key employee?

Business Interruption Insurance
Casualty Insurance
Key Person Insurance
Product Liability Insurance

A

Key Person Insurance

72
Q

What is an association of businesses that promotes ethical conduct by all businesses in a community?

Better Business Bureau
Chamber of Commerce
OSHA
Samll Business Administration

A

Better Business Bureau

73
Q

What is an association of business people who attempt to protect and promote the commercial interests in a community?

Better Business Bureau
Chamber of Commerce
OSHA
Small Busines Association

A

Chamber of Commerce

74
Q

Which of the following is a management function which compares organizational and individual performance with predetermined standards or expected results?

Controlling
Directing
Organizing
Planning

A

Controlling

75
Q

Which of the following refers to those activities which encorage subordinates to work toward the achievement of the company’s goals?

Controlling
Directing
Planning
Staffing

76
Q

What is selling a business’s accounts receivable for cash to a third party?

Collections
Factoring
Flooring
Line of Credit

77
Q

If the computer operator does not assign values in computer operations, the computer automatically can assign:

Default Vlaues
Delimit Values
New Data Values
Terminal Values

A

Default Vlaues

78
Q

96 megabytes would be roughly equivalent to:

9,600 characters
96,000 characters
96 million characters
96 billion characters

A

96 million characters

79
Q

What is the computer part that performs all the controlling, calculating and processing functions?

CAD
CPU
RAM
ROM

80
Q

What is the primary function of word-processing software?

Listing, calculating and sorting data
Producing graphic presentations
Producing written documents
Storing information in data form

A

Producing written documents

81
Q

What is a duplicate of an original program or data made as a precaution against loss or damage of the original?

Backup
Output Device
RAM
ROM

82
Q

A circuit board that contains most of the electronic components of the system unit is called the:

Hard Drive
Mother Board
RAM
ROM

A

Mother Board

83
Q

Which motivational theory involves the basic needs of humans?

Einstein’s Theory of Relativity
Herzberg’s Two Factor Theory
Maslow’s Hierarchy of Needs
McGregor’s Theory X and Theory Y

A

Maslow’s Hierarchy of Needs

84
Q

With which operational procedure is one concerned with the appearance of the facilities?

Embalming
First Call
Removal
Visitation

A

Visitation

85
Q

When would DMORT most likely be called?

  1. During a devistating earthquake killing and injuring hundreds of people.
  2. During a flood with minimal injury or death.
  3. When a large fire kills ten people.
  4. When soemone dies on federal property.

1
2
3
4

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