POBF (6.01-7.02)

What is one of the main reasons why businesses need to keep accurate accounting records?

• to follow procedures

• to control expenses

• to eliminate risks

• to regulate taxes

The role of finance in business often involves:

• monitoring expenses.

• paying employees.

• buying supplies.

• obtaining funds.

Businesses would not be able to determine if they are meeting their financial goals without accurate:

• production plans.

• marketing plans.

• accounting systems.

• distribution systems.

When businesses invest funds to expand, they are involved in the process of:

• selling.

• depreciation.

• finance.

• capitalism.

Businesses use the information collected through the accounting process to prepare accurate:

• balance sheets.

• purchase orders.

• inventory forms.

• promissory notes.

Assets a company already owns and can use to finance a new venture are called:

• accounts payable.

• dividends.

• return on capital.

• equity.

Which is a characteristic of human resources management?

• evaluating supervisors

• evaluating supervisors

• scheduling the work

• working with people

According to the marketing concept, which option demonstrates customer orientation?

• finding out what a buyer wants

• researching a firm's competitors

• convincing a buyer to buy

• advertising the features of a product

A manager who helps an employee count the money in a cash drawer and prepare a bank deposit is demonstrating:

• aggressive behavior.

• natural talent.

• creativity.

• technical skills.

A characteristic of a sole proprietorship is that the owner:

• has access to unlimited funds.

• receives all the profit.

• transfers all the risk.

• delegates all functions.