Unit 4 Flashcard

Front

The process of keeping the financial records of a business is known as

Back

accounting.

Front

What accounting record would summarize a business’s profit or loss for a previous year?

Back

Income statement

Front

Which financial report provides estimates of when, where, and how much money will come into and out of a business next year? Options: Balance sheet, Cash flow statement, Income statement, Bank statement

Back

Cash flow statement

Front

Why are accurate accounting records important to a business?

Back

They show how the business is doing.

Front

Finance is the business function that involves managing

Back

money.

Front

Which of the following is a capital investment decision: How to manage cash flow, How to handle accounts payable, How to manage inventory, How to finance investments?

Back

How to finance investments

Front

The operations function consists mainly of activities that are performed on a __________ basis.

Back

daily

Front

An operations manager must determine the sequence materials will take through the production process. This activity is known as

Back

routing.

Front

Marketing encourages people from different countries to __________ frequently.

Back

trade

Front

What does business operations add to the product?

Back

Value