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Sales Forecasts & Budgets Chapter 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 happens if the amount of money coming into the business decreases?

Question 2 2. Why does a business need to know the amount of sales revenue?

Question 3 3. What is the main role of a sole proprietor?

Question 4 4. This marketing tool is used to examine historical revenue figures and project future revenues.

Question 5 5. If you want to track how much money you've made relative to the amount of money you've spent, which marketing metric would you choose?

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Question 6 6. This marketing tool can be used to assess the effectiveness of your marketing strategies and tactics.

Question 7 7.

The ABC Company has just prepared its pro-forma balance sheet, which shows the following information:

Total assets = $5,000; total liabilities = $3,500; and total owners' equity = $1,000. Calculate the amount of external financing needed for the company to reach its goal of a 5% increase in sales next year.

Question 8 8. If a company decides to issue shares in order to raise $2,000, which of the following accounts would increase in the pro-forma balance sheet?

Question 9 9. Which of the following balance sheet accounts is NOT impacted by an increase in sales?

Question 10 10. If your sales budget shows that you sold 10,000 units of Christmas lights last November and you ran out at your warehouse, what does that tell you about customer expectations?

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Question 11 11. Who is a good person in your company to ask about your sales budget?

Question 12 12. What is a sales budget?

Question 13 13. What is the benefit of an immediate sales forecast?

Question 14 14. What time range is considered short-term?

Question 15 15. What is a sales forecast?

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Question 16 16. How can CRM track the impact of sales and marketing campaigns?

Question 17 17. What are production efforts?

Question 18 18. Why is it important to forecast sales?

Question 19 19. What is a quota?

Question 20 20. What is the benefit of a contest?

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Question 21 21. How are goals established?

Question 22 22. Which of the following would be considered a variable cost?

Question 23 23. Calculate contribution margin given the following information: selling price = $10; variable cost = $2.50 and fixed cost = $3.00.

Question 24 24. Which process is NOT involved in the theory of constraints?

Question 25 25. How is sales revenue calculated?

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Question 26 26. What is the first step in building a marketing budget?

Question 27 27. What are retained earnings?

Question 28 28. How often do many companies come up with a sales budget?

Question 29 29. What is a consideration of long-term sales forecasting?

Question 30 30. What is a way that CRM can help forecast sales?

Sales Forecasts & Budgets Chapter 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!

Marketing 306: Principles of Selling  /  Business Courses
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