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PLACE Marketing Education: Practice & Study Guide Final Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. What statement(s) do external and internal users of accounting information rely on?

Question 2 2. Jarett orders and purchases two laptops for his company usage on account. The ordered laptops amounted to $1,200. Identify the two accounts that are used for this transaction.

Question 3 3. Who investigated Arthur Andersen and Enron?

Question 4 4. Which of the following entities established the time period principle?

Question 5 5. What does ALOE stand for?

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Question 6 6. What types of reports are created during the accounting cycle for the use of management?

Question 7 7. Experiments are:

Question 8 8. Based on the target end user, a computer is _____ product.

Question 9 9. In our ever-evolving world there have been many advances that have made accounting processes easier to complete; all of the following are examples of technology that have impacted the accounting industry except

Question 10 10. What is the first step in an accounting cycle called?

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Question 11 11. Which of the following statements is MOSTLY TRUE of a specialty product?

Question 12 12. Dan's organization stores their software applications and other information on a group of external computers known as virtual network servers. Employees often refer to this storage space as the _____.

Question 13 13. Sam had a terrible experience at the Surf Hotel on the coast. When planning his beach vacation next year, he chooses the Tidewater Inn. This is an example of _____.

Question 14 14. What is the formula for the basic accounting equation?

Question 15 15. Kayla bought butter last week but paid no attention to the brand when she made her purchase. This is an example of _____.

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Question 16 16. Select the business product an automobile tire would be.

Question 17 17. What is the first step in the accounting cycle?

Question 18 18. What is a brand?

Question 19 19. Laura is developing a place strategy for her new dog grooming service in Beverly Hills. She wants her grooming service to be exclusive, and to provide her customers with unique and highly fashionable dog hair styles. How many numbers of outlets would you recommend to Laura?

Question 20 20. The marketing mix consists of

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Question 21 21. The four types of promotion are

Question 22 22. Which of the following is a commercial value that can be put on a brand?

Question 23 23. Why is accounting important to business?

Question 24 24. Evaluate the type of business product corn is.

Question 25 25. Why would employees be interested in the company's financial status?

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Question 26 26. Which of the following is a way for a company to overcome the intangibility issue?

Question 27 27. Market research:

Question 28 28. Brand familiarity becomes important when shopping for convenience products because _____.

Question 29 29. How do you know when an account is in balance?

Question 30 30. Which of the following does a company need to help develop their brand?

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Question 31 31. What is the definition of marketing?

Question 32 32. GAAP sets the standards for the creation of what?

Question 33 33. How many basic accounting principles make up GAAP?

Question 34 34. Adam wants to find out the assets and liabilities of a company. Which financial statement should Adam read to find out this information?

Question 35 35. Which of the following is an example of external users of accounting information?

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Question 36 36. A union would be a(n) _____ business customer category.

Question 37 37. How would you define brand recognition?

Question 38 38. Which law was enacted as a direct result of the unethical financial practices of both Enron and Arthur Andersen?

Question 39 39. With accounting software, Bob is able to complete five times as many transactions as he can manually; this supports the explanation of technology as

Question 40 40. Michael, the majority shareholder of a company, decided to produce the company's balance sheet whose cash balance included the cash in his own bank account. Would Michael be allowed to do this by GAAP?

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Question 41 41. Package design created to elicit a quick purchase made without much thought is capitalizing on what type of consumer behavior?

Question 42 42. What was the accounting firm that made unethical choices in the Enron scandal?

Question 43 43. Which of the following is an example of how publicly-traded companies can apply the principle of conservatism with their financial statements?

Question 44 44. Why is a medical exam considered perishable?

Question 45 45. Sue likes Luigi's pasta sauce. While shopping, the store is sold out, so Sue waits to purchase pasta sauce another time. This is an example of _____.

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Question 46 46. What is the overall sacrifice a consumer is willing to make to acquire a specific product or service?

Question 47 47. Explain what differentiates a business product from a consumer product.

Question 48 48. Which of the following represents the accounting equation?

Question 49 49. Which company, listed on the New York Stock Exchange would definitely be in breach of the Going Concern Principle?

Question 50 50. How do potential investors utilize a company's reported financial information?

PLACE Marketing Education: Practice & Study Guide Final Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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