Business Driven Technology Study Set 2

Business

Quiz 20 :
B: Extension: A Business Basics

Quiz 20 :
B: Extension: A Business Basics

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Human resources management includes the policies, plans, and procedures for the effective management of employees (human resources).
Free
True False
Answer:

Answer:

True

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Accounting deals with the strategic financial issues associated with increasing the value of the business while observing applicable laws and social responsibilities.
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True False
Answer:

Answer:

False

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Break-even analysis is the point at which revenues equal costs.
Free
True False
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Answer:

False

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For-profit corporations primarily focus on making money and all profits and losses are shared by the business owners.
True False
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A loss occurs when businesses sell products or services for less than they cost to produce.
True False
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What occurs when businesses sell products or services for more than they cost to produce?
Multiple Choice
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Which of the following is not a type of business?
Multiple Choice
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Which form of business recommends a legal agreement between two or more business partners that outlines core business issues?
Multiple Choice
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What is the fundamental difference found in a limited partnership?
Multiple Choice
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Partnership agreements typically include all of the following, except:
Multiple Choice
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What is a hybrid entity that has the legal protections of a corporation and the ability to be taxed (one time) as a partnership?
Multiple Choice
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What analyzes the transactional information of the business so the owners and investors can make sound economic decisions?
Multiple Choice
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What refers to the amount earned resulting from the delivery or manufacture of a product or from the rendering of a service?
Multiple Choice
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What involves preparing financial reports that provide information about the business's performance to external parties such as investors, creditors, and tax authorities?
Multiple Choice
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What involves analyzing business operations for internal decision making and does not have to follow any rules issued by standard-setting bodies such as GAAP?
Multiple Choice
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What is the function of the marketing department?
Multiple Choice
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What is the function of the sales department?
Multiple Choice
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What describes the basic transaction data such as its date, purpose, and amount and includes cash receipts, canceled checks, invoices, customer refunds, employee time sheet, etc.?
Multiple Choice
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Which of the following financial statements gives an accounting picture of property owned by a company and of claims against the property on a specific date?
Multiple Choice
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What reports operating results (revenues minus expenses) for a given time period ending at a specified date?
Multiple Choice
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