DECA Quizbowl 1
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| If a company’s total revenue equals its total costs, the business has reached its _____________ point. | BREAK-EVEN
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| Businesses incur regular expenses such as electricity and salaries. These expenses_____________ are called expenses. | OPERATING
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| Counting portions of stock at regular intervals is what type of inventory control system? | TICKLER
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| An officer who exerts little control over the membership and who lets people do as they please is what type of leader? | LAISSEZ-FAIRE
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| Fees charged by lending institutions for check writing privileges and ATM use are referred to as | SERVICE CHARGES
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| If goods are sold directly to the consumer from the producer, this follows what type of channel of distribution? | DIRECT
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| If you are injured on the job and are unable to work, you may be able to collect what type of insurance? | WORKERS COMPENSATION
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| If an organization is unhappy with the hiring practices of a company, the organization may call for a _________ of the company and its products. | BOYCOTT
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| If union employees stay on the job but refuse to work, this is called a __________ strike. | SIT DOWN
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| Merchandise is designated as __________ when a contractor cannot fill an entire order and sends a partial shipment promising to send the balance at a later date? | BACKORDERED
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| Elected representatives of owners or owners themselves that oversee the management of a corporation, including the CEO, make up the company’s . | BOARD OF DIRECTORS
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| A contract between a shipper and a carrier for transportation of gods is called a | BILL OF LADING
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| An invoice which informs the cosigner of the freight charges which are due is called a | FREIGHT BILL
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| What type of motion is required to briefly interrupt a meeting? | PRIVILEGED
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| Media costs are determined mostly by which key factor? | CIRCULATION
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| An inspection of goods before they are received into stock is carried out by what department? | QUALITY ASSURANCE, AUDITING, CONTROL
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| Before an official meeting, who is responsible for providing to the chairman or president an update on a certain committees current standing? | THE COMMITTEE CHAIR
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| A management term known as _________ is a way of allowing subordinates the opportunity to self manage? | EMPOWERMENT
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| The act of seeking out and advertising to potential customers is known as | PROSPECTION
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| The total demand for an economy’s goods and services is known as the | AGGREGATE DEMAND
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| These products are not heavily advertised or promoted and due to this fact tend to cost less. | GENERIC
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| Another name for the process of examining and judging an individual’s work performance is called a performance | APPRAISAL
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| A consumer’s perception of a product as compared to competitive products is known as | POSITIONING
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| What term refers to the amount of money paid to share holders at the end of a fiscal year by corporations, and depends on company profits? | DIVIDEND
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| This is the bill which the purchaser receives for merchandise purchased from the seller. It states what merchandise was shipped, the quantity, price, and shipping/billing terms. | INVOICE
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| These are items of merchandise which are considered basics for a store and those which there should always be a running inventory of. | STAPLE MERCHANDISE
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| Which type of inventory control system is used when you keep track of inventory according to the actual number of items in stock? | UNIT INVENTORY CONTROL
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| The act of seeking out what customers think, feel, or know is known as | PROBING
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| There are four elements of trust. They are acceptance, candor, openness, and | RELIABILITY
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| Which communication style does John fit into if he is patient and very thorough and he believes that the content (facts) of a message will carry more influence than the power of the delivery? | ANALYZING STYLE
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| Your base salary, bonus and benefit package make up your total | COMPENSATION
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| The merchandise cost of Net Sales is | COST OF GOODS SOLD
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| Sales which take place at the sales person’s place of business, such as a retail store, are referred to as ___________ sales. | INSIDE
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| Something of value that a borrower pledges to a lender to ensure payment of a loan? | COLLATERAL
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| What is the difference between the assets of a business and its liabilities? | NEW WORTH
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| If you own a business and you borrow money to purchase equipment, this amount you owe for the equipment is recorded in your accounting records as a | LIABILITY
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| A _________ is a cooperative association formed by labor unions or groups of employees for the benefits of its members? | CREDIT UNION
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| Raising money by selling part of the business itself is called using __________ capital? | EQUITY
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| A business’ ___________ identify the name and address of your business, its purpose, the names of the initial directors, and the amount of stock that will be issued to each director? | ARTICLES OF INCORPORATION
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| Which type of business ownership is a legal agreement to begin a new business in the name of a recognized company? | FRANCHISE
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| Product _______ refers to the number of product items offered within each product line? | DEPTH
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| Which type of dating is changing the date from which the billing terms take effect to the end of the month? | END-OF-MONTH DATING
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| A prewritten story about a company that is sent to the various media is called a | NEWS RELEASE
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| What term refers to the coordination of all physical elements in a place of business so that it projects the right image to its customers? | VISUAL MERCHANDISING
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| An advertising _________ shows exactly how an ad will appear when printed. | PROOF
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| Agencies or instruments used to convey messages are referred to as | MEDIA
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| An __________ is a partial return of the sale price for merchandise that the customer has kept. | ALLOWANCE
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| The _________ is a symbol which appears as a series of bars and a row of numbers on an item to be scanned. | UNIVERSAL PRODUCT CODE (UPC)
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| An initial effort to close a sale is called a _______ close. | TRIAL
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| The stock level at which a new order is placed is referred to as | REORDER POINT
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| What is the name of the rating system used to measure radio audiences? | ARBITRON
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| An __________ retailer owns only one retail unit? | INDEPENDENT
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| A ___________ store is one which is well located, keeps long hours, and carries a limited number of items? | CONVENIENCE
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| All purchasing decisions emanating from on office defines a ___________ buying organization? | CENTRALIZED
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| When a customer goes out of his or her hometown to shop is called | OUTSHOPPING
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| Wal-Mart uses a brand called Sam’s Choice that is only used by Wal-Mart and its subsidiaries. This type of brand is called a __________ brand. | PRIVATE
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| What term refers to how consumers view a retailer in the marketplace? It may also be defined as the difference between a discount and an up-scale department store. | POSITIONING
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| If you write a book and allow someone to sell it, you may negotiate a contract where you receive a certain percentage of each sale. This is referred to as a | ROYALTY
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| In order to help keep inexpensive goods from entering the country and greatly underselling domestic products, as well as to generate revenue, countries usually place a special tax on imported goods. This tax is called a | TARIFF
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| If you own a small business and cannot afford to fully insure your business against loss, you may be able to negotiate a smaller premium where you and the insurance company both share part of the risk against loss. This is referred to as | COINSURANCE
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| Manufacturer offered incentive during an introductory period, What is it called when a manufacturer offers to return part or all of the purchase price to the consumer, during the transaction or through the mail? | REBATE
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| If you are selling fur coats, you can get a higher price for the coats just before the cold season than you can just before the warm season. This is an example of what type of utility? | TIME
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