Exam 7: Understanding the Business

The mission statement is used to differentiate an organization from its competition and further refines the direction articulated in the vision statement, answering questions such as, "Who are we?" and "What businesses are we in?"

An income statement is the financial statement that reports revenues, expenses, and profit or loss resulting from a company's operations over an accounting period.

Which of the following is NOT one of five stages of industry evolution?

What is an overall explanation of why an organization exists and where it is trying to head?

ABC company has been very successful in Canada. However, there is not much more room for growth in Canada so the company must expand internationally. What is the expectation in Canada of how ABC operates internationally?

Which item would be listed first on an income statement?

The key numbers that financial managers use to calculate ratios usually come from which of the following financial statements of a company?

Which of the following is NOT one of Porter's five forces?

In conducting a stakeholder analysis, what two dimensions should a company assess of each stakeholder?

A discipline that involves the management of people, process, and technology around the care of information is referred to as computer science.

What are the major financial statements? Describe each one.

Which of the following is a mathematical tool financial managers use to assess the financial strengths and weaknesses of their company?

Lisa and Debbie are very serious shoppers but are also concerned about human rights issues. Every weekend they go to different malls around the city. They look for quality products at reasonable prices. But they also demand that the companies that they buy products from produce their products in which of the following ways?

Which sector of the Canadian economy has had a negative impact on the environment?

Which of the following global business issues are most important to Canadian businesses?

Financial performance is measured in a number of ways. What are the primary measurements?

Dave has a small clothing store. He wants to open a second store but needs investors to finance his expansion. Investors will look at which of the following primary financial performance measurements to evaluate the store's performance?

When a company makes use of SWOT analysis, what is one of its objectives?

Which of the following is NOT one of the ways to measure financial performance?

According to the text, which of the following is one of the best ways to measure financial performance?