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NBE Examine Review > Mortuary Management > Flashcards

Mortuary Management Flashcards

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1
Q

An individual that assumes the risks associated with a new venture start-up can be referred to as a(n):

Accountant
Entrepreneur
Market Repsresentative
Sales Representative

A

Entrepreneur

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2
Q

What is a group of potential customers that are recognized as possessing purchasing power and unsatisfied needs?

Economic base
Economic order quantity (EOQ)
Demographics
Market

A

Market

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3
Q

What is any capital that is invested in a business by the owner(s)?

Borrowed Capital
Debt Capital
Equity Capital
Loaned Capital

A

Equity Capital

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4
Q

Any credit that is extended from one business to another in order to help finance the distribution of goods from the producer is called:

Equity Capital
Fixed Capital
Personal Equity
Trade Credit

A

Trade Credit

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5
Q

Long-term capital that is invested in a business is referred to as:

Current Assets
Current Liabilities
Fixed Capital
Short-Term Capital

A

Fixed Capital

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6
Q

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
Inventory control
Marketing
Trade credit

A

Demographics

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7
Q

What is the main objective in a market survey?

  1. To decide how much money to spend in advertising.
  2. To determine where the potential customers are.
  3. To decide how many managers will be needed.
  4. To decide how much money to spend on travel.

1
2
3
4

A

2

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8
Q

What is the art of making the public aware of one’s products and/or services that are for sale?

Advertising
Inventory control
Overhead
Sales promotion

A

Advertising

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9
Q

What is the effort undertaken to retain and preserve the assets and earning power of a business?

Consumer credit
Mark-up
Marketing
Risk Management

A

Risk Management

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10
Q

Factors associated with evaluating a credit risk would involve all of the following except:

Credit application
Credit investigation
Inventory control considerations
Setting a credit limit

A

Inventory control considerations

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11
Q

What is a line of credit that may be used over and over again up to a certain borrowing limit?

  1. Closed-end credit.
  2. Revolving account.
  3. Trade credit.
  4. Open-end credit.

1 and 2
1 and 3
2 and 4
3 and 4

A

2 and 4

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12
Q

In business, what is a reduction of selling price below the original selling price?

Consumer credit
Markdown
Mark-up
Overhead

A

Markdown

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13
Q

Capital invested in the busines by the owner is known as:

  1. Equity Capital
  2. Debt Equity
  3. Personal Capital

4 Trade Capital.

1 and 2
1 and 3
2 and 4
3 and 4

A

1 and 3

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14
Q

In a business, the name, goodwill, copyrights and patents are referred to as:

Intangible Assets
Intangible Expenses
Tangible Assets
Tangible Expenses

A

Intangible Assets

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15
Q

Which of the following are functions of management?

  1. Actuating
  2. Innovation
  3. Competition
  4. Controlling

1 and 2
1 and 4
2 and 4
3 and 4

A

1 and 4

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16
Q

In organizing a business, a legal form of organization that is authorized by a state to operate a busines under a state charter is referred to as:

Corporation
Limited partnership
Partnership
Proprietorship

A

Corporation

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17
Q

A written description of a new idea that projects marketing, operational and financial aspects of a proposed business is known as:

  1. Business Plan
  2. Entrepreneurial Plan
  3. Market Survey
  4. New Venture Plan

1 and 2
1 and 4
2 and 3
2 and 4

A

1 and 4

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18
Q

Which of the following is an external problem and risk of business ownership?

  1. Financial Shortages
  2. Human Resource Planning
  3. Mismanagement
  4. Tax Burdens

1 and 3
1 and 4
2 and 4
3 and 4

A

2 and 4

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19
Q

A management function which compares organization and individual performance with predetermined standards or expected results is known as:

  1. Actuating
  2. Controlling
  3. Evaluating
  4. Planning

1 and 2
1 and 4
2 and 3
3 and 4

A

2 and 3

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20
Q

Which of the following is an intangible asset?

  1. Building
  2. Goodwill
  3. Inventory
  4. Name of the Business

1 and 3
2 and 3
2 and 4
3 and 4

A

2 and 4

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21
Q

Which of the following are advantages of a corporation?

  1. Ease of starting
  2. Large financial capability
  3. Limited liability of each owner
  4. Low cost of organization

1 and 2
1 and 3
2 and 3
3 and 4

A

2 and 3

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22
Q

Which of the following are advantages of a sole proprietorship?

  1. Ease of starting
  2. Efficiency of labor
  3. Continuity of existence
  4. Profit incentive

1 and 3
1 and 4
2 and 4
3 and 4

A

1 and 4

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23
Q

Which of the following are disadvantages of a corporation?

  1. Legal restrictions on activities
  2. Continuity in existence
  3. Limited size
  4. Lack of personal interest

1 and 2
1 and 4
2 and 3
3 and 4

A

1 and 4

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24
Q

Which of the following are disadvantages of a sole proprietorship?

  1. Double taxation of earnings
  2. Divided authority
  3. Unlimited liability
  4. Limited management ability

1 and 2
1 and 4
2 and 3
3 and 4

A

3 and 4

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25
Which of the following are examples of debt capital? 1. Equity Capital 2. Personal Capital 3. Commercial Loans 4. Venture Capitalists 1 and 2 1 and 3 2 and 4 3 and 4
3 and 4
26
Which of the following are advantages of a partnership? 1. Freedom to manage 2. Efficiency of labor 3. Combined management, talent and capital 4. Continuity of existence 1 and 2 1 and 4 2 and 3 3 and 4
2 and 3
27
Which of the following are advantages of extending credit? 1. Capital is tied up in merchandise bought by charge customers. 2. Sales are increased. 3. Goodwill is built up and easily maintained 4. Some losses from bad debts and customers with fraudulent intentions are bound to occur. 1 and 2 1 and 4 2 and 3 3 and 4
2 and 3
28
Which of the following are disadvantages of a partnership? 1. Divided authority among partners. 2. Death or incapacity of one of the partners may end the partnership. 3. Double taxation. 4. Separation of ownership and control. 1 and 2 1 and 4 2 and 3 3 and 4
1 and 2
29
Legislation that guarantees disabled people equal access to employment, as well as access to public places is know as: BFOQ ADA FTC OSHA
ADA
30
A governmental agency with the responsibility for regulatory and enforcement of safety and health matters for most United Sates employees is knwon as: ADA EPA OSHA FTC
OSHA
31
A document which lists the major responsibilities and tasks of the job is known as a job: Application Analysis Description Specification
Description
32
What is a type of credit granted by retailers that is used by individuals for the satisfaction of their own wants? Closed-end mortgage Consumer credit open-end mortgage Trade credit
Consumer credit
33
What is the form of legal organization that is owned and operated by one person? Corporation Joint Venture Partnership Proprietorship
Proprietorship
34
What is a form of legal organization in which a business association made up of two or more persons is formed for the purpose of carrying on as co-owners? Corporation Joint Venture Partnership Proprieorship
Partnership
35
What is a legal form of organization whereby a legal entity is authorized by a state to operate a business under the entity's charter or article of incorporation? Corporation Joint Venture Partnership Proprietorship
Corporation
36
One who organizes, manages and assumes the risk of a business firm or venture is known as: A chief operating officer A majority stockholder An entrepreneur An efficiency expert
An entrepreneur
37
What is the combination of two or more individual's talents and capital serving as an advantage in the legal form of organization? Corporation LLC Partnership Proprietorship
Partnership
38
What is the current asset items consisting of cash, inventories and accounts receivable? Circulating Capital Debt Capital Equity Capital Fixed Capital
Circulating Capital
39
Which of the following is NOT a characterisitc of a small business? Actively managed by stockholders Highly personalized Largely local in its area of operation Small in size within the industry
Actively managed by stockholders
40
Which of the following is NOT a consumer buying motive? Comfort Indemnity Prestige Security
Indemnity
41
What is the statistical study of human populations with respect to their size, density, distribution comparison and income? Demographics Economic Bases Environmental Study Vital Statistics
Demographics
42
A factor to be considered with the evaluation of a credit risk would be the: Credit application Mark-up of product Product color Size of product
Credit application
43
What is capital invested in the business by the owner(s)? Circulating Capital Debt Capital Equity Capital Working Capital
Equity Capital
44
Which of the following would NOT be an insurance risk to consider? Death of key employees Liability to the public Riots Terms of Sale
Terms of Sale
45
A source of debt capital would include: Commercial loans Equity Capital Personal Capital Working Capital
Commercial loans
46
Which of the following is NOT a way to reduce risks? Eliminate the risks Minimize the risks Shif the risks Take on more risks
Take on more risks
47
What is a plan which provides inducements to potential purchasers of products and/or services? Advertising Business Plan Marketing Sales Promotion
Sales Promotion
48
Which of the following is a requirement for a building layout? Accessibility Customer Service Buying Habits Hours of Operation
Accessibility
49
Which of the following is an internal problem that can lead to business failure? Capital shortages Government regulations Lack of expertise Tax burdens
Lack of expertise
50
When selecting employees, the applicant's appearance, poise, speech and other characteristics may be best determined by: An employment interview Checking references Employment records Reading the resume
An employment interview
51
Which of the following is an external problem that can lead to small business failure? Bad location Consumerism Financial shortages Lack of expertise
Consumerism
52
Which of the following has the disadvantage of no limit being placed on the owner's personal liability? Corporation Copperative LLC Proprietorship
Proprietorship
53
Which of the following is NOT included on the employment application? Applicant's Education Applicant's Name Applicant's Sex Applicant's Social Security Number
Applicant's Sex
54
Which one of the following is an example of a variable expense? Depreciation Insurance Repairs Supervisory Salaries
Repairs
55
Which of the following is NOT used to measure the success of advertising? Customer behavior Income trends in the community Number of items sold Overall sales
Income trends in the community
56
Which of the following statements is true concerning consumer credit? 1. Credit customers are more interested in price than quality and service. 2. Credit customers are more interested in quality and service than price. 3. Credit customers will be less regular than cash customers. 4. Credit never leads to bad debt. 1 2 3 4
2
57
What is long term capital invested into the business? Circulating Capital Equity Capital Fixed Capital Working Capital
Fixed Capital
58
A strategy to minimize business risk would be to: Have good management Purchase outside insurance Remove the cause Self-insure
Have good management
59
Which of the following is NOT an advantage of a corporation? 1. Continuity 2. Easy transfer of ownership interest. 3. Legal financial responsibility. 4. Legal restrictions on activities. 1 2 3 4
4
60
Which of the following federal laws prohibits wage discrimination based on the sex of the worker? 1. Age Discrimination Employment Act of 1968 2. Civil Rights Act of 1964 3. Equal Employment Opportunity Act of 1972 4. Equal Pay Act of 1963 1 2 3 4
4
61
Which of the following is recognized as a disadvantage of extending credit? 1. Credit customers are more regular buyers than cash customers. 2. Goodwill is built up and maintained. 3. Sales are increased. 4. Some losses from bad debts and customers with fraudulent intentions are bound to occur. 1 2 3 4
4
62
What is wealth produced in or near a community that provides employment and income to the local population? Economic Base Economic Zone Income Base Trade Area
Economic Base
63
Which of the following is not a factor which can affect the recruitment and selection of employees? Geographic location Identity of the organization Religion Wages and benefits
Religion
64
What is the practice of trying to get something that is being sought by others under similar circumstances at the same time? Advertising Competition Merchandising Public Relations
Competition
65
What is the principal government agency concerned with financing, operation and management of small businesses? National Chamber of Commerce Association Small Business Administration Small Business Association Small Finance Administration
Small Business Administration
66
Which of the following is an internal problem that can contribute to the failure of a business? Consumersism Governmental Regulation Financial Shortages Personnel Recruitng Difficulties
Financial Shortages
67
What is a written description of a new idea that projects marketing, operational and financial aspects of a proposed business? Angel Plan Business Plan Speculative Plan Start-Up Plan
Business Plan
68
Which of the following is normally NOT a source of published market data? Census of Banking Census of Business Census of Manufacturing Census of Population
Census of Banking
69
Which of the following laws prohibits discrimination against any qualified individual with a disability? Age Discrimination Act Americans with Disabilities Act Fair Labor Standard Act Rehabilitation Act
Americans with Disabilities Act
70
What does business interruption insurance cover? Incompetence of the owner Lost Income Neglect of Product Mix Product Liability
Lost Income
71
What is life insurance that protects the business against losses due to the death of a key employee? Business Interruption Insurance Casualty Insurance Key Person Insurance Product Liability Insurance
Key Person Insurance
72
What is an association of businesses that promotes ethical conduct by all businesses in a community? Better Business Bureau Chamber of Commerce OSHA Samll Business Administration
Better Business Bureau
73
What is an association of business people who attempt to protect and promote the commercial interests in a community? Better Business Bureau Chamber of Commerce OSHA Small Busines Association
Chamber of Commerce
74
Which of the following is a management function which compares organizational and individual performance with predetermined standards or expected results? Controlling Directing Organizing Planning
Controlling
75
Which of the following refers to those activities which encorage subordinates to work toward the achievement of the company's goals? Controlling Directing Planning Staffing
Directing
76
What is selling a business's accounts receivable for cash to a third party? Collections Factoring Flooring Line of Credit
Factoring
77
If the computer operator does not assign values in computer operations, the computer automatically can assign: Default Vlaues Delimit Values New Data Values Terminal Values
Default Vlaues
78
96 megabytes would be roughly equivalent to: 9,600 characters 96,000 characters 96 million characters 96 billion characters
96 million characters
79
What is the computer part that performs all the controlling, calculating and processing functions? CAD CPU RAM ROM
CPU
80
What is the primary function of word-processing software? Listing, calculating and sorting data Producing graphic presentations Producing written documents Storing information in data form
Producing written documents
81
What is a duplicate of an original program or data made as a precaution against loss or damage of the original? Backup Output Device RAM ROM
Backup
82
A circuit board that contains most of the electronic components of the system unit is called the: Hard Drive Mother Board RAM ROM
Mother Board
83
Which motivational theory involves the basic needs of humans? Einstein's Theory of Relativity Herzberg's Two Factor Theory Maslow's Hierarchy of Needs McGregor's Theory X and Theory Y
Maslow's Hierarchy of Needs
84
With which operational procedure is one concerned with the appearance of the facilities? Embalming First Call Removal Visitation
Visitation
85
When would DMORT most likely be called? 1. During a devistating earthquake killing and injuring hundreds of people. 2. During a flood with minimal injury or death. 3. When a large fire kills ten people. 4. When soemone dies on federal property. 1 2 3 4
1

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