management Flashcards
(374 cards)
1
Q
current assets ratio
A
current assets/ current liabilities
2
Q
The age of accounts receivable is expressed
A
in number of days
3
Q
not a current liability
A
bonds payable
4
Q
the expense that does not increase with increased business, nor decrease with decreased business
A
fixed expenses
5
Q
what is considered a source of comparison in financial analysis
A
everything
6
Q
Healthy acid test ration should be
A
1:1 (Quick asset divided by current liabilities)
7
Q
Formal financial statement that presents the income, expenses, and resulting net profit or net loss for a give n period
A
balance sheet
8
Q
adding the beginning merchandise inventory to the purchase for the period
A
goods available for sale
9
Q
activity analysis
A
all of them (measures how effectively a firm is utilizing its assets) activity analysis includes:
Accounts receivable turnover
Age of accounts receivable
Inventory turnover
10
Q
property of a relatively permanent nature used in the operation of a business and not intended for resale
A
fixed asset
11
Q
multiple- step income statement displays
A
revenue, expenses, net income lost, cost of good sold in gross profit
12
Q
the difference between merchandise available for sale and the end-of-point merchandise inventory
A
cost of sold goods
13
Q
income statement displays
A
expenses
14
Q
net income
A
photo covers or lumen reling
15
Q
the financial statement that shows the results of a firm’s business activities over a specific time period is called
A
operations
16
Q
a decrease in assets, other than withdrawals by the owner, which results from efforts to produce revenues
A
expenses
17
Q
gross sales minus sales returns and allowances and minus discounts on sales
A
gross profit
18
Q
the income statement is also called
A
statement of profit or loss, revenue statementt
19
Q
budget
A
everything
20
Q
FICA
A
taxes on employee earnings are paid by both the employer and the employee
21
Q
cash or other assets that will be converted to cash or consumed within on year
A
current assets
22
Q
the current ratio measures the ability of the company to pay
A
short term liabilities
23
Q
the break- even-point
A
total sales revenue= total cost
24
Q
formal financial statement is prepared of a specific date
A
balance sheet
25
an accounting practice in which revenue is not recognized in the accounting records until received and in which expenses are not recognized until paid
cash basis accounting
26
only the assets, liabilities, and owners equity accounts will be listed
cash flow
27
a written promise of a customer to pay the business a sum of money at a future date
note receivable
28
variable expense
wages
29
quick asset
merchandise inventory
30
private investors who are willing to supply financing for a new small venture start-ups
angels
31
a cost that does not change in total but becomes progressively smaller on a per unit basis as volume increases
relevant rang or fixed expense
32
financing more affordable
separate business ownership, lease equipment, sale excess inventory
33
the two types of capital needed upon initial start up of a business
work/ fixed
34
an unwritten promise by a customer to pay, at a later date, for goods sold or services rendered
accounts receivable
35
long-term capital invested in the business
fixed capital
36
tax imposed on tangible personnel property sold at retail
retail sales price
37
a formal financial statement illustrating the assets, liabilities, and owner's equity of a business as a specific date
balance sheet
38
FUTA
paid only by employer
39
obtaining cash before payments are received from customers by selling off one's accounts receivables to a third party
factoring
40
cash
coins, currency, paper money
41
a federal act imposed on each employer for the purpose of financing the administration costs of the federal and state unemployment compensation programs
Federal Unemployment Act (FUTA)
42
Common mortuary expenses- Occupancy
the physical space, including rent, mortgage, utilities, and deprecation should make up about 19%
43
finance
The business function of effectively obtaining and using funds
44
trade credit
form of credit that is extended by one business to another business to help finance distribution of producer's goods
45
a healthy current asset ratio
2:1
46
fixed expense
rent, all of them
47
source of funds
mortgage loans
48
common mortuary expenses- taxes
5%
49
difference between current assets and current liabilities
working capital
50
FOB shipping
refers to transportation charges that are paid by the buyer
51
budget exercise, a cash cushion that is on hand for emergencies should be enough for
three to six months
52
the expenses that FLUCTUATES in total in direct proportion to change in activity or volume
variable expenses
53
Accrual basis of accounting
revenues are recorded when earned regardless of when they are received
54
current liabilities are generally paid
due within one year
55
current assets total 100,000 and current liabilities total $40,000. the current ratio for Barna & berg Mortuary
2.5
56
liquidity analysis
Measures the ability of the firm to meet its current obligations
57
return on investment
ratio of net income to owners equality in business
58
accounts receivable turnover
net credit sale/ aver receivable
59
not an example of variable expense
supplies, hourly wage expense, repairs, utilities, taxes
| FUTA, Dpercation, FIca
60
revolving credit
open end credit
61
the loss in value of a fixed asset due to wear and tear and the passage of time
deprecation
62
open end credit
line of credit that may be used over and over again up to a certain borrowing limit
63
FICA
Federal Insurance Contribution Act
64
income is recorded only when received, the accounting system being
cash basis accounting
65
attempting to collect the funeral bill should make up _ of common mortuary expenses
3%
66
is the process of recording in each fiscal period applicable expenses, whether paid or not, and the income earned, whether collected or not
accrual accounting
67
tax levied on individuals and business by federal, state, and the local government
income tax
68
and understanding between a bank and the business indicating the maximum amount the bank is willing to loan the borrower
line of credit
69
in the cash basis of accounting, which of the following accounts would be missing
accounts payable
70
a language of business employed to communicate financial information based upon analyzing, recording, classification, summarization, reporting, and interpretation of financial date
accounts systems
71
Automobiles should make up about _ of common mortuary expenses
9%
72
withdrawals and additional investments made by sonya ha, the business owner are reported on the statement of
net worth
73
general mortuary expenses, including postage, printing stationary, and other office expenses should make up about _ of common mortuary expenses
7%
74
wages and salaries expenses including health insurance, pensions, and other fringe benefits should make up about _ of common mortuary expenses
47%
75
capital
The owner's financial interest in a business
76
5% of common mortuary expenses
all of them
77
net income
revenue and expenses
78
state and regional development commissions are included as sources
funds
79
net sales and cost of good sold
net purchases
80
Objectives are described as
specific statements, the achievement of which are completed in a specific TIME period, specific dates are stated
81
which of the following statements regarding a budget is true?
a formal written statement, which may be based upon adjusted historical data, of managements plan for future expressed in financial terms
82
liquidity analysis?
measures the ability of a firm to meet its current obligations
83
Name recognition is
desired effect of advertising
84
Motivating people in organizations to develop teamwork which effectively fulfills their needs and achieves organizational objectives is?
Human Relations
85
Written information about each casket may be more carefully analyzed is an?
disadvantage) indirect approach
86
A cost that is uniform per unit but fluctuates in a total in direct proportion to changes in the related activity or volume is called?
variable expenses
87
non-verbal communication occurs, which can be positive or negative is a?
advantage direct approach
88
A ______ is a group of potential customers having purchasing power and unsatisfied needs:
Market
89
______ is a tax imposed on a tangible personal property sold at retail:
Retail sales Tax
90
_____ is generally defined as inducing the public to have a positive feeling about a particular business:
Public Relations
91
Only the asset, liabilities and owner's equity accounts will be listed on the:
Balance sheet
92
The four Ps of marketing mix discussed in class are:
Price, Product, Promotion, Place
93
The association of business firms that promotes ethical conduct by all business firms in a community is called:
Better Business Bureau
94
The ____ is wealth produced in or near a community that provides employment and income to the local population:
Economic base
95
Definition of Cash includes:
Coins, currency papers (paper money), checks, credit card receipts, money orders
96
Process of acquiring, training, developing. motivating and appraising a significant quantity of qualified employees to perform necessary activities is termed:
all of them
97
An unwritten promise by a customer....
Accounts recievable
98
Post-selection room counseling includes all the following except:
presenting price list
99
Some families prefer the support given by the funeral director is a:
(advantage) Direct selection room procedure
100
The method of selling merchandise whereby the funeral director remains in the selection room throughout the selection process is termed:
Direct s approach procedure (advantage)
101
The planning function of management can be described as:
the function of determine advance (goal)
102
Process determining the critical components of a job for purposes of selecting, training, and rewarding personnel is termed:
Job analysis
103
Helps to build a preference before need:
desired effect
104
Which of the following is considered when selecting a community for a market survey:
(demographics)
105
The opportunity of a funeral director to influence their decision:
Indirect selecting room approach (dis) not sure/
106
Cash or other assets that will be converted to cash or consumed within one year are known as:
Current Assets
107
___ is a plan which provides inducements to potential purchasers of products or services:
Sales promotions
108
Direct mail is:
a form of Advertising
109
Private investors who are willing to supply financing for new small venture start-ups are termed:
Angels
110
Definition of Goal:
Broad statements about what an organization wants to achieve, NO timeline
111
Funeral service management is defined as:
The administration of a funeral service enterprise, the activities pf which encompasses marketing, office, personnel, facilities, and financial management
112
Privacy exists for the family
Indirect selection room approach (advantage)
113
___ is the art of making the public aware of the services or commodities that a business has for sale:
Advertising
114
Helps to build a good representation is:
desired affects
115
___ is the study that is used by a business to determine where particular businesses are located:
census of business
116
The method of selling merchandise where the funeral director DOES NOT stay in the room:
Indirect selection room approach
117
FICA:
Federal act requires employees AND employers to pay taxes to support the federal social security progress
118
The efforts of an organization directed to ensure that quality in the production of goods and services achieved is the definition of:
Total Quality Management TQM
119
The arrangement and distribution of work among numbers of an organization is called:
Organizing
120
Obtaining cash before payments are received from customers by selling off one's accounts receivable to a third party:
Factoring
121
Goods purchased for resale at a profit are collectively refereed to as:
Merchandising/ inventory
122
___ refers to transportation charges that are paid by the buyer:
Operating rates FOB???
123
measures how efficiently a firm is utilizing its assets
Activity analysis
124
measures how many times per year accounts receivable are collected
Accounts Receivable Turnover
125
measures the average time required to collect accounts receivable
Age of Accounts Receivable
126
the number of times the average inventory has been sold or used up (turned over) during a period
Inventory Turnover
127
measures the average time required to sell inventory
Age of Inventory
128
provides evidence concerning the earnings potential of a company and how effectively the firm is being managed
Profitability analysis
129
net income divided by net sales
Profit Margin
130
sales minus sales returns and allowances minus sales discounts
Net sales
131
net sales minus the cost of goods sold
Gross profit (gross margin)
132
gross profit divided by net sales
Gross Profit Percentage
133
a comparison of profit and each item of expense in the income statement expressed as a percentage of sales income; the operating ratios can be compared to the industry standard in regards to measuring the possible growth of the business
Operating ratios
134
a formal financial statement which presents the income, expenses, and resulting net profit or net loss for a given period
Income statement analysis
135
the current assets divided by the current liabilities and a measure of the liquidity of the business
Current Asset Ratio
136
cash or other assets that will be converted to cash or consumed within one year
Current assets
137
debts of a business that are generally paid within one year
Current liabilities
138
quick assets divided by current liabilities
Acid-Test Ratio (Quick Ratio)
139
cash, marketable securities, accounts and notes receivable
Quick assets
140
the ratio of net income to owner's equity in the business
Return on investment
141
the difference between gross profit and expenses when gross profit is larger
Net income (net profit)
142
a written summary of one's personal, educational, and professional achievements
Resume
143
a document that lists the major responsibilities and tasks of the job
Job description
144
a job-analysis technique in which individuals currently holding a particular job are asked questions concerning the requirements of the job
Interviewing
145
a document that lists the knowledge, skills, abilities, and personal characteristics a job holder must possess to perform effectively
Job specification
146
the process of forming a pool of qualified applicants for tasks that need to be filled
Recruitment and selection
147
the statistical study of human populations with respect to their size, density, distribution, composition, and income
Demographics
148
a record of statements made at the time the applicant first seeks employment
employment application process
149
a qualification that is absolutely necessary for the job; it is an allowable and approved reason for discrimination
Bona Fide Occupational Qualification (BFOQ)
150
the primary way of judging the applicant's appearance, poise, speech, etc.
Employment interview procedures
151
the art and science of motivating people toward the achievement of a goal
Management
152
that function of determining in advance what needs to be accomplished in order to achieve a particular goal
Planning
153
developing a comprehensive strategy for meeting future human resource needs
Human resource planning
154
regulating the activities or course of activities of an organization; to guide and/or supervise the activities of an organization
Directing (Actuating)
155
a superior's act of granting to subordinates, on the basis of competence, the right to act or decide
delegation of authority
156
the superior-subordinate relationship that serves as a channel for two-way communication
Communicate effectively - chain of command
157
an association of business people who attempt to protect and promote the commercial interests in a community
Chamber of Commerce
158
purchasing Norton Antivirus software for your personal computer is an example of which computer buying motive
security
159
written information may be ignored or misinterpret
factor of indirect
160
_____ is the purchase, pricing, display, and sale of merchandise
merchandising
161
developing a comprehensive strategy for meeting future human resource needs
human resource planning
162
business policies are
fundamental statements that serve
163
is the art and science of motivating people toward their achievement of a goal
management
164
are discounts from quoted as an inducement for prompt payment of invoices
cash discounts
165
a job analysis technique in which individuals currently holding a particular job are asked questions concerning the requirements of the job
interviewing
166
which of the following is not a source of published market data discussed in class
?
167
deciding to buy a louis Vuitton designer handbag is an example of which consumer buying motive
prestige
168
directing can be described as
Regulating the activities or course of activities of an organization; to guide and/or supervise the activities of an organization.
169
when merchandising service, which of the following is incorrect
coordinate pricing philosophy
170
ordering a combination meal from a fast food restraint and opting to upgrade to larger fries and drink is an example of which consumer buying motive
economy
171
in terms of population trends, California I experiencing ________ than _________
emigration / immigration
172
market forces include
?
173
are the return of a portion of the payment
rebates
174
the absence of employment discrimination based on race, color, religion, sex, or national origin
equal employment opportunity
175
the process of planning and executing the development, pricing, promotion and distribution of an organization's goods and/ or services
marketing management
176
TQM is an abbreviation for
Total quality management
177
which of the following is a consumer buying motive
```
Comfort
Convenience
Security
Prestige
Health
Economy
```
178
are the amounts by which the bill or invoice will be reduced when a minimum quality of merchandise has been ordered
Quantity discounts
179
considerations regarding merchandise to be offered included all of the following except
customer recommendation
180
caveat vanditor translate into
"let the seller beware"
181
is a practice of trying to obtain something that is being sought by others under similar circumstances at the same time
Competition
182
adequate pre-counseling, a clear descriptions of the casket and price must be on each unit is a(n)
advantage of the direct
183
a well-organized __________ program can reinforce a funeral home's ________ increase the credibility of the firm in the eyes of the public and position the funeral home in the community as a leader in the field
public relations /advertising
184
the definition of actuating
Regulating the activities or course of activities of an organization; to guide and /or supervise the activities of an organization. (directing)
185
to arrange and constitute in interdependent parts, each having a specific function or relation with respect to the whole, describes which of the following functions of management
organizing
186
misinterpretation of verbal and non-verbal communication does not exist is a(n)
factor essentials direct
187
are those goods or stock of goods which are held for resale
Inventory (merchandise)
188
the statistical study of human populations with respect to their size, density, distribution, composition, and income is termed
Demographics
189
a document that lists knowledge, skills, abilities, and personal characteristics a job holder must possess to perform effectively
Job Specification
190
helps to build the reputation is
desire effect of advertising
191
availability of the product
consideration regarding merchandise
192
the family might hear but not listen to what the funeral director explains because of bereavement
disdvantage of indirect
193
number of items sold
method of measuring the success
194
availability of the product
consideration regarding merchandise is to be defined
195
withdrawals
operations
196
Costco
wholesales
197
withdrawals
operations not sure
198
customer traffic
method of measuring the success of advertising
199
what is an example of Installment credit (closed-ended credit)?
mortgage or car loan
200
cash discount
a reduction of the price given for the payment of an account within the time limits established by the sales contract
201
Increased graduated recovery
every level merchandise receives a relatively low mark up while higher end merchandise receives a higher mark up while higher. rewards consumers who spend the least.
202
Decreased graduated recovery
declining price structure upper range caskets receive markups that are comparably less than those applied to entry level those applied to entry level caskets consumers receive more value for their dollar encouraged to by up
203
Modified graduated recovery
first level offering receives a slightly less aggressive mark up entry level offering remain in the range of affordability purchase higher quality merchandise
204
which of the following is the pricing method that creates one total "price package"
Unit pricing
205
which of the following is the pricing method that shows a separate price for the services to be rendered and a separate price for the casket?
Bi-unit pricing
206
Functional pricing
a method of price quotation in which the charges are broken down into several major component parts, such as professional services, facilities, automobiles, and merchandise. Basically, the mortuary charged for three or more areas.
207
Itemization pricing
the method of price quotation by which each and every function or unit of service and/or item of merchandise is priced separately
208
Package pricing
a pricing method which groups together selected services and/or merchandise
209
Average (mean)
for a given group of numbers (amounts), the mean is the sum of a group of numbers divided by the actual physical number of units
210
quartiles
a division of the total into four segments, each one representing 1/4 of the total.
211
1st quartiles
is the utility quartile and represents 10% of the units displayed..
212
2nd quartiles & 3rd quartiles
represent 27% and 40 % of the caskets displayed also called the range because it is the area providing the greatest selling opportunities
213
4th quartiles
represents 23% of the units and is known as the personal satisfaction quartile (highest priced caskets)
214
sale frequency
the number of times sales in a given price bracket occur over a fixed period of time
215
sale frequency chart
for a defined period of time, a chart is used to track which units sell and how many of each type
216
balanced line
this is a technique used to determine the number (how many) and quality of caskets to be shown. Plus it should show the allocation of those caskets to specific quartiles within the display room. It gives a reference point that the prices in the selection room are balanced.
217
balance line formula 1
All sales
218
example of charge account
some credit card issuers raise interest rates if the credit cardholder makes late payments.
219
adult formula casket cost plus desired profit, divided by adult formula casket cost is the formula given to compute the mark-up on whole cost using
Multiple 1
220
when the median is computed for a given group and it does not actually exist, but rather is inserted, it is said that the median was
an even number of caskets
221
Installment credit
closed-end credit
222
crude range
the spread between the highest value and the lowest value. To compute: take the highest value minus the lowest value, plus one.
223
if the funeral director presents the cost of the funeral to the family by breaking it into several portions such as merchandise, facility, professional fees, and automobile expense, he is using which method of pricing presentation
functional pricing
224
Interquartile range
this is found by taking the highest value in the 3rd quartile minus the highest value in the 1st quartile plus one. This formula gives the area composed of the 2nd and 3rd quartiles. This represents the greatest area of selling opportunity -- the most active area.
225
Consumer Value Index (CVI)
the percentage derived by dividing the wholesale cost of the merchandise by the retail price of the merchandise
226
Merchandise Value Ratio (MVR)
| (gross income + casket cost ):casket cost
the relationship between the wholesale cost of the merchandise and the total cost (both service and merchandise) to the consumer
227
given a merchandise vale ratio of 5:1, it can be said that out of every $5 the funeral director will gross, he will spend how much on caskets
$1 or 20 cents for each dollar
228
Price progression
(distance between casket prices -- the increments when moving from lower to higher
229
Stairstep/consecutive method
this uses a constant percentage increment called a "riser" to determine the price increase between successive units. This method applies only to prices within the 2nd and 3rd quartiles.
230
Group pricing/bracket method
this method uses a larger riser than the stairstep -- but displays a number of units at the price plateau. There will be several caskets (2 or 3) at the same price. This method can be used toward all 4 quartiles, but is also more emphasized at the 2nd and 3rd quartiles
231
Keystone approach (historical -- unethical)
associated with "All Sales" - this is a pricing method showing 3 caskets to help the buyer find a buying level (using unethical influence).
(a) Place a casket at the entrance to the selection room such that this "approach casket" is $125 - $150 above the All Sales Median.
(b) A second casket is placed on one side of the "approach casket" and is priced $25 - $50 below the All Sales Median.
(c) On the other side of the "approach casket" a third casket is placed and its price will be $25 - $50 above the All Sales Median.
Note: the alternate units are referenced to the median price and not the initial "approach" casket's price.
232
Indicative approach (historical -- unethical)
associated with "Adult Formula Sales" - this pricing method also uses 3 caskets to influence a buying level.
(a) At the entrance to the selection room place an "approach casket" that is about $200 above the Adult Formula Sales Median.
(b) On one side of this "approach casket" place a casket priced at the next price increment below the "approach casket".
(c) On the other side of the "approach casket" place a third casket priced at the second price increment above the "approach casket".
Note: the alternate units are referenced to the "approach casket" and not to the median. This technique is only associated with Adult Formula Sales.
233
Consumer credit
a type of credit granted by retailers that is used by individuals or families for satisfaction of their own wants
234
Median
a value in an ordered set of values which represents the midpoint, whereby there are an equal number of values above and below the midpoint value. For a given group or array of numbers (amounts, caskets, etc.) the median is a numerical point such that one-half of the numbers in the array will fall below the median and one-half of the numbers in the array will fall above the median.
235
mode
the value that occurs most frequently (often) in a given group or array of numbers (amounts)
236
Facilities management
the obtaining and maintaining of adequate work space and funeral equipment
237
ADA - Americans With Disabilities Act
a federal statute prohibiting discrimination against the disabled in employment, public transportation, telecommunications services, and public accommodations and services operated by private entities
238
Occupational Safety and Health Act (OSHA)
federal legislation that mandates that employers provide a workplace that is free from hazards likely to cause death or serious physical harm
239
Fractional display
use of portions of caskets (2, 1/4, 1/8) in the selection room versus full sized caskets
240
foot candles
90 to 100 foot candles of illumination at casket level recommended for traditional selection room - the amount of illumination produced by a source of one candle at a distance of one foot
241
Direct lighting
illumination directly shining on an object
242
Indirect lighting
reflected illumination of an object
243
Fluorescent lighting
the illumination produced by a tubular electric discharge lamp; the fluorescence of phosphors coating the inside of a tube
244
Incandescent lighting
the illumination resulting from the glowing of a heated filament
245
Church truck
a wheeled collapsible support for the casket, used in the funeral home, church, or home
246
Casket stand (casket standard)
the stand or support upon which a casket rests in the selection room
247
Casket rack
a device upon which caskets are placed, one on top of the other, for display or storage
248
Consecutive method
placing caskets for selection in their order of increasing or decreasing value
249
Demonstration group (educational group)
three or four caskets utilized to educate the selecting party regarding the elements of casket construction
250
Zoning ordinances
a law passed by a municipality which regulates and prescribes the kind of building, residences, or businesses that shall be built and used in different parts of the municipality
251
Office management
the administration and supervision of office duties and functions
252
Insurance and risk management - risk
a condition in which there is a possibility of an adverse deviation from a desired outcome that is expected or hoped for
253
Burglary/robbery
the forcible breaking and entering of premises closed for business with the subsequent removal of cash or merchandise
254
Insurance
uneventful protection for the small business or small business owner in regards to monetary compensation in the event that a business and/or personal peril is experienced
255
Key-person life insurance
life insurance that protects a firm against losses due to the death of a key employee
256
Business interruption insurance
an insurance that protects companies during the period necessary to restore property damaged by an insured peril. Coverage pays for lost income and other expenses related to recovery
257
Product liability insurance
insurance that protects a firm against claims that its product caused bodily injury or property damage to the user
258
Casualty insurance
insurance that provides monetary benefits to a business that has experienced an unforeseen peril such as flood, fire, etc.
259
Credit insurance
insurance that protects non-retailing businesses from abnormal bad-debt losses
260
General liability insurance
insurance covering business liability to customers who might be injured on or off premises or from the product sold to them
261
Liability insurance
insurance that covers business liability to customers and others who might be injured from the product sold to them
262
Self-insurance
a form of risk management whereby a part of the firm's earnings is earmarked as a contingency fund for possible future losses, specifically for individual loss categories such as property, medical, or worker's compensation
263
Life insurance
insurance that provides death benefits to the survivors of the insured
264
Endowment life insurance
life insurance that allows the insured, rather than the beneficiary, to collect the face value of the policy upon maturity or to collect that value in annual payments
265
Term life insurance
life insurance that has no cash value whenever the policy expires
266
Whole life insurance
life insurance that gives lifetime protection to the insured person
267
Universal life insurance
a combination of whole life insurance and term life insurance
268
Types of Natural Disasters:
Natural, Human-responsible, Combo of natural and human responsible, and emergency
269
Emergency
an unforeseen combination of circumstances that results in a need for immediate action
270
general concerns that arise from disasters:
1. Communication and care for survivors
2. Disaster site must be protected for investigation
3. locations of remains must be marked/recorded
4. collection of vital info
271
Why is Vital information needed to be collected:
stats, ID purposes, funeral arrangements
272
Specialized activities to deal with concerns:
a. communications and media relations
b. notification of NOK
c. ID
d. distribution
e. consolation
f. memorialization activities
273
Federal, state and local concerns:
1. Legal: jurisdiction and responsibility over/ for disaster area
2. Financial: federal, state, local, private
274
Mass fatalities
where there are more bodies then local authorities can handle
275
The Selection room method whereby three of four caskets are utilized to educate the selecting party regarding the elements of casket construction is
Demonstration
276
which of the following is not an Internal problem of business
consumerism
277
Which of the following is an internal problem of business:
Lack of expertise (mismanagement)
Financial shortages
human resource management
278
The written application for permission to incorporate that is approved by a state official is
corporation charter
279
a business which is independently owned and operated and is not dominant in its field of operations:
Small Business
280
The selection room method placing caskets for selection in their order of increasing or decreasing value:
Consecutive
281
The minimum number of caskets recommended for display is
12
282
PTSD
(DO NOT PUT LEADS TO CSID) or treatment
283
which of the following statements regarding limited liability companies is correct
a new form of business ownership
284
A disaster plan should include which of the following guidelines?
A B C
285
The fair market price to purchase similar assets, is part of the
replacement value approach
286
the illumination produced by a tubular electric discharge lamp containing phosphors is
Florescent
287
Talking in a non-invasive way about about the day's work in a mass fatalities incident is
decompression
288
a business valuation approach which centers on estimating the amount of potential income that may be produced by the business in the next year
Earning valuation approach
289
which of the following is not concern that arises in disaster management
selling caskets
290
Funeral directors make up about ___ of the DMORT teams around the country
80%
291
Which of the following is done by a mental health professional within four hours after the conclusion of work in a mass fatalities incident
Defusing
292
the efficient utilization and adequate regulation of assets, revenue, expenditures, and capital rights
finacial management
293
developing a comprehensive strategy for meeting future human resource needs
Human resource planning
294
Funeral service management is
the administration.....
295
which of the following would be the most desirable selection room location
upper level Funeral home
296
which of the following is an external problem
A and C
human resource planning,
capital shortages (lack of available money, securing fund, good rates, maintaining reserves, securing equity capital
tax burdens
Gov regulations
consumerism
297
the maximum number of caskets recommended for display
30
298
the arrangement and distribution of work members of an organization
A B C
299
___ is insurance that provides death benefits to the survivors of the insured
Life insurance
300
CISD teams provide all the following EXCEPT
Financing
301
___ is a form of risk management whereby a part of the firm's earnings is earmarked as a contingency fund .....
Self-Insurance
302
___ is federal legislation that mandates that employers provide a workplace that is free from hazards likely to cause death or serious physical harm
OSHA
303
Emergency
an unforeseen combination of circumstances that results in a need for immediate action
304
The debriefing process usually lasts
one - two hours
305
the valuation of intangible assets includes assessing the value of all of the following except
Pride
306
the key to a successful mass fatalities incident response operation is
teamwork
307
the recommended distance from the floor of the selection room to the bottom of the caskets is
26-30
308
which of the following is not an external problem of bsuiness
mismanagement
309
which of the following is not one of the ways to manage stress in a mass fatalities incident
Decomposing
310
which of the following is a government regulation that impacts the facility
A and C
311
the efforts of all members of an organization directed to ensure that quality in the production of goods and services is achieved
total quality managment
312
those physical assets that can be appraised by value/possesses genuine value or seen or touched
tangible
313
__ is an insurance policy provision that makes the insurer liable only for losses in excess of the stated deductible
deductible clause
314
Facility management includes frequent inspections
NOT A and B option
315
__ is all efforts designed to preserve assets and earning power associated with a business
Risk management
316
The incident command system is divided into five categories which include all the following except
CISD
317
If a selection room designed for full caskets measures 24'x30' approximately how many caskets should be displayed
12-18
318
If refrigerated trucks are to be used to store human remains during a mass fatalities incident
cover any markings on the truck so as to disassociate the name on the truck with the event at a later
date
319
___ is the art and science of motivating people toward the achievement of a goal
management
320
which of the following would be the least desirable selection room location?
NOT lower level separate
so either same level sep or upper level sep
321
those individuals who flee the bureaucratic environment of big business by going into business for themselves
Corporate refugee
322
Which of the following is a natural disaster
hurricane
323
which of the following is not an area of merchandising display within the funeral home
seperate building
324
__ is life insurance that allows the insured, rather than the beneficiary, to collect the face value of the policy upon maturity or to collect that value in annual payments
Endowment insurance
325
for a majority of mass fatality workers, their physical reactions will subside withing
usually three months
326
which of the following requirements is necessary to consider when designing a business location
A B C
327
a type of asset that is not able to be physically touched or grasped but is retained by a small business because of its genuine value appeal
Intangible
328
Disaster
a sudden misfortune, resulting in the loss of life and/or property
329
Services provided by a funeral service organization that occur after final disposition is
A B C
330
a written description of a new idea that projects marketing, operational, and financial aspects of a proposed business is
business plan
331
Historically, the role of the funeral director in mass fatalities
NOT limited to providing caskets
or included determining causes
NOT non existant
332
__ is uneventful protection for the small business of small business owner in regards to monetary compensation in the event that a business and or personal peril is experienced
insurance
333
the facility should be checked for
A B C
334
the average number of units displayed in the United States funeral home is
NOT12-30
335
which of the following is a factor to consider when purchasing small business
A B C
336
when choosing the illumination for a casket selection room, it si recommended
90-100
337
the emphasis placed on providing to customers products and services that are safe, reliable and honest advertised; also, a social movement....
consumerism
338
A(n) __ is a condition in which there is a possibility of an adverse deviation from a desired outcome that is expected or hoped for
risk
339
There are three types of business activities they include
NOT ABC
Manufacturing, merch, services
-Aand C
340
__ is a law by a municipality which regulates and prescribes the kind of building, residence, or businesses that shall be built and used in different parts of the municipality
zoning ord.
341
which of the following is an economic contribution of small business
A and B
342
__ is a federal statue prohibiting discrimination against the disabled in employment...
ADA
343
__ is insurance that covers business liability to customers and others who might be injured from the product sold to them
liabilty insurance
344
a partnership is owned by
two or more
345
the cost of a fixed asset less accumulated depreciation is known as
book value
346
the first responders on the scene in a mass fatality incident are
police
347
which of the following is considered a criterion for a small business
highly personalized
348
__ is a clause in an insurance policy under which the insured agrees to maintain insurance equal to some specified percentage of the property value or otherwise to assume a portion of any loss
coinsurance
349
the registered right of an inventor to make, use, and sell and invention is
patent
350
a small business may be determined by all the following except
type of activity
351
caskets are commonly grouped together in the selection room by all the following except
religion
352
an intangible asset such as the name of a funeral home; also, an intangible asset which enables a business to earn a profit in excess of the normal rate of profit earned by other business of the same kind is
good will
353
there are three types of disasters
A B C
354
factors to consider when buying a going concern include all the following except
answer:consumerism
These are what TO consider:
Reasons for selling the business, Profit potential, Tangible assets, intangible assets, competition, Human resources forecast
355
the obtaining and maintaining of adequate work space and funeral equipment is the definition of
facilities managment
356
the anticipated value of an asset that would be realized in case of liquidation of the business
liquidation value
357
a formal written statement, which may be based upon adjusted historical data, of management's plans for the future expressed in financial terms is
budget
358
the introduction of something new; a new idea method or device
innovation
359
the process of acquiring, training, developing, motivating, and appraising, a significant, quantity of qualified employees to perform necessary activities
human resource managment
360
an intangible asset that is a distinct name, or symbol that the federal government grants exclusive rights to use for a specific period of time is
trade mark
361
the selection room should be large enough to allow how many square feet per unit
40-60ft
362
the illumination that results from the glowing of a heated filament
incondescent
363
the amount of illumination produced by one candle at a distance of one foot
foot candle
364
stockholders of a corporation are
have limited liability
365
a written document that states explicitly the rights and duties of partners in a partnership
articles of partnership
366
insurance that provides monetary benefits to a business that has experienced an unforeseen peril such as a flood...
casualty insurance
367
which of the following is not a form of business ownership
Alt forms of disposition
368
sources of new venture ideas include all the following except
accidental search
369
an approach used in business valuation which determines value based upon previous sales of similar businesses is
market value approach
370
a mass fatalities incident is where there are
more bodies that the local authorities can handle
371
the voluntary business association of two or more persons who have combined their resources to carry on as co-owners of a lawful enterprise/business for their joint profit describes
partnership
372
the registered right of a creator to reproduce, publish, and sell the work which is the product of the intelligence and skill of that person is
copyright
373
an artificial being, invisible, intangible, and existing only in contemplation of law; an entity that is something that has a distinct existence separate and apart from the existence of its individual members. A legal form of organization whereby a legal entity is authorized by a state to operate a business under the entity's charter or articles of incorporation
corporation
374
the purchasing, pricing, display, and sale of
merchandise
