BE Final Exam Re-loop

Why are accurate accounting records important to a business?

• They prevent any financial losses.

• They show how the business is doing

Which of the following categories of information are found on a balance sheet?

• Assets, liabilities, owner’s equity

• Income, expenditures, profit

Which of the following is an example of one of a business’s inputs?

• Products

• Employees

Which operations activity is also referred to as procurement?

• purchasing

• inventory control

A business can determine its net income by subtracting total

• expenses from gross margin.

• liabilities from assets.

A business should strive to keep its cash conversion cycle as short as possible so it

• has cash available to use.

• can earn dividends

Working capital management decisions focus on

• the company’s current balance of assets and liabilities.

• long-term company investments and projects

The administration of assets refers to decisions about

• Spending

• Investments

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

• Routing

• Scheduling

A medical professional enters a patient’s symptoms into a computer program designed to help diagnose illnesses. This program is known as a(n)

• expert system

• computer-aided design