FSE2202 FUNERAL HOME MANAGEMENT COMPEND
QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS
VERIFIED
A business that makes finished goods from raw materials by hand or machinery
is referred to as
Manufacturing business
A business that purchases finished goods for resale is referred to as a
Merchandising business
A particular business that provides a service as opposed to a product is referred
to as a
Service business
An individual that assumes the risks associated with a new venture start-up can
be referred to as a(n)
Entrepreneur
A group of potential customers that are recognized as possessing purchasing
power and unsatisfied needs defines
Market
The main objective of the market survey is
To determine where the potential customers are
Any capital that is invested in a business by the owner(s) can be called
Equity capital
, Any credit that is extended from one business to another in order to finance the
distribution of goods from the producer is called
Trade credit
Long-term capital that is invested in a business is referred to as
Fixed capital
In a business, the number of times the average inventory is sold or used up can
be referred to as
Inventory turnover
A point in business operations whereby total sales revenue equals total costs
Break-even point
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
The art of making the public aware of one's products and/or services that are for
sale can be referred to as
Advertising
Any effort undertaken to retain and preserve the assets and earning power of a
business is called
Mark-up
Factors associated with evaluating a credit risk would involve all of the following
except
Inventory control considerations
QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS
VERIFIED
A business that makes finished goods from raw materials by hand or machinery
is referred to as
Manufacturing business
A business that purchases finished goods for resale is referred to as a
Merchandising business
A particular business that provides a service as opposed to a product is referred
to as a
Service business
An individual that assumes the risks associated with a new venture start-up can
be referred to as a(n)
Entrepreneur
A group of potential customers that are recognized as possessing purchasing
power and unsatisfied needs defines
Market
The main objective of the market survey is
To determine where the potential customers are
Any capital that is invested in a business by the owner(s) can be called
Equity capital
, Any credit that is extended from one business to another in order to finance the
distribution of goods from the producer is called
Trade credit
Long-term capital that is invested in a business is referred to as
Fixed capital
In a business, the number of times the average inventory is sold or used up can
be referred to as
Inventory turnover
A point in business operations whereby total sales revenue equals total costs
Break-even point
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
The art of making the public aware of one's products and/or services that are for
sale can be referred to as
Advertising
Any effort undertaken to retain and preserve the assets and earning power of a
business is called
Mark-up
Factors associated with evaluating a credit risk would involve all of the following
except
Inventory control considerations
