61. What is the process of identifying and evaluating potential markets and customers for a product or service called? A. Product development B. Market research C. Customer analysis D. Performance analysis 62. What is the primary responsibility of the finance function in a business? A. Ensuring sufficient sources of finances B. Managing the company's financial resources C. Product design and development D. Market research and analysis 63. In marketing, what does "branding" refer to? A. The physical characteristic of a product B. The process of developing advertising campaigns C. The creation and management of a unique identity for a product or company D. The pricing strategy for a product 64. What is the financial statement that shows a company's revenues and expenses over a specific period? A. Balance sheet B. Profit and loss statement C. Cash flow statement D. Income statement 65. What financial ratio measures a company's ability to pay its short -term debts with its current assets? A. Liquidity ratio B. Debt-to-equity ratio C. Return on investment (ROI) D. Price-earnings ratio (P/E ratio) 66. What term describes the process of determining the optimal mix of debt and equity financing for a company? A. Cost analysis B. Financial leverage C. Credit control D. Capital structure 67. Which production concept emphasizes the efficient production of a large quantity of standardized products at a low cost? A. Lean production B. Mass production C. Customization D. Just-in-time (JIT) production 68. What is the primary focus of the production function within a business? A. Employee recruitment and training B. Effective production of good and services C. Creating goods and services efficiently D. Managing the company's financial resources 69. What term describes the process of ensuring that products meet established quality standards before they are delivered to customers? A. Inventory management B. Market research C. Cost analysis D. Quality control 70. In production management what is the "lead time"? A. The time it takes to manufacture a product B. The time it takes to deliver a product to customers C. The time it takes to place an order for raw materials D. The time it takes to recruit and train new employees