Semester Exam 2 REVIEW - Part 3 Question Preview (ID: 47003)


Semester Exam. TEACHERS: click here for quick copy question ID numbers.

Employees who assist customers, take orders, and answer questions that come into the company via phone or website are called the _____.
a) customer support team
b) phone group
c) sales team
d) order department

Information and resources available to customers through the Internet is _____.
a) online support
b) feature-benefit selling
c) web department
d) sales and service

A _____ is the exchange of payment and product.
a) transaction
b) selling process
c) charged expense
d) barter exchange

Verbal or nonverbal signs that a customer is ready to purchase are called _____.
a) buying signals
b) sales indications
c) ergonomics
d) sales signs

A _____ is a type of financial investment issued by a corporation, government, or other organization.
a) security
b) loan
c) banknote
d) financial exchange

As a function of money, _____ means that money is a common measure of the worth or price of a good or service.
a) unit of value
b) banknote
c) store of value
d) monetary system

As a property of money, _____ means that money must maintain its value over time in order to be widely accepted.
a) stable
b) portable
c) durable
d) recognized

The process of transferring money from one individual or organization to another is _____.
a) financial exchange
b) monetary policy
c) medium of exchange
d) financial services

A(n) _____ is an example of a nondepository financial institution.
a) insurance company
b) credit union
c) mutual savings bank
d) commercial bank

The mechanism a nations uses to provide and manage money for itself is called a(n) _____.
a) monetary system
b) banking system
c) financial system
d) inventory system

A prearranged amount of credit that is available for a business to use as needed is a _____.
a) line of credit
b) treasury note
c) letter of credit
d) bond

A process used by individuals to manage limited income to meet personal unlimited needs and wants is called _____.
a) personal financial management
b) want management
c) money decisions
d) wealth management

_____ is income received from employment or from self-employment,
a) Earned income
b) Minimum wage
c) Annual revenue
d) Overtime wage

A person who has the ability to understand basic topics related to finance is _____.
a) financially capable
b) business savvy
c) accounting capable
d) investment savvy

An expense that is equal in amount each budget period is a(n) _____.
a) fixed expense
b) variable expense
c) annuity
d) standard deduction

The difference between a budgeted dollar amount and the actual dollar amount is a(n) _____.
a) variance
b) profit
c) expense
d) income

An expense that can go up and down during the budget period is a(n) _____.
a) variable expense
b) allowance
c) exemption
d) fixed expense

An amount that a taxpayer can claim for each person who is dependent on that person's income is a(n) _____.
a) exemption
b) itemized deduction
c) standard deduction
d) allowance

Tax returns must be filed no later than _____ each year.
a) April 15th
b) December 31st
c) January 15th
d) June 1st

Taxes paid by the employee and the employer that are used to finance the federal Social Security and Medicare programs are _____ taxes.
a) FICA
b) net
c) W-4
d) deduction

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