Week 12 (Final)

Question 1

Economic Responsibility

Answer 1

To produce goods and services that society desires

and to sell them at a profit

Question 2

3 ways of finding information

Answer 2

s

Question 3

Net Income eq.

Answer 3

operating income-non operating expenses

Question 4

Profit/Income

Answer 4

Profit
Gross Profit
Operating Income
Net Income
EBIT
EBITA

Question 5

Gross Profit

Answer 5

net sales-cost of goods sold

Question 6

Operating Income

Answer 6

gross profit-operating expenses

Question 7

EBIT

Answer 7

earnings before interest and taxes

Question 8

EBITA

Answer 8

earnings before interest, taxes, depreciation, and amortization

Question 9

Structure of Profit (Income Statement)

Answer 9

describes a business’s profit or loss over a given length of time (1 year)

business’s operating performance over a period

Question 10

Selected Revenue Sources

Answer 10

Tickets, luxury suites and club seating, concessions, parking, licensed merchandise, sponsorship

Question 11

Outsourcing

Answer 11

Decisions to abandon to perform certain value chain
activities internally

Instead make outside specialist or allies to perform those

Ex. Royals: Armark, TicketMaster, etc.