1-1 What is Business? Business U

The process of recording, maintaining, and reporting an organization’s financial transactions and records is called:

• Accounting

• Marketing

• Human Resources

• Operations

What is a for-profit or non-profit organization involved in commercial, industrial, or professional commerce called?

• Corporation

• Partnership

• Sole Proprietorship

• Business

What focuses on the management of the assets, liabilities, equity, and cash flow of an organization, including financial analysis like ROI and ROE?

• Financial Management

• Human Resource Management

• Marketing Management

• Operations Management

What refers to the people assets who work for an organization and the business function responsible for recruiting, hiring, onboarding, training, evaluating, and terminating employees?

• Human Resources

• Finance

• Marketing

• Operations

What is a business function that involves people, processes, and systems that collect, organize, store and secure relevant data and information, making it accessible and useful for making informed decisions?

• Data Management

• Marketing

• Human Resources

• Finance

What involves planning, organizing, staffing, controlling, and leading people, processes, and assets to achieve a goal or task in the best way possible?

• Management

• Marketing

• Finance

• Operations

What is the enterprise and pursuit of ideation, creation, communication, and delivery of profitable products and services to targeted customers for their benefit and for the benefit of society as a whole?

• Marketing

• Finance

• Operations

• Human Resources

What is a company's purpose, its reason for being, and the problem it is solving?

• Mission statement

• Vision statement

• Business plan

• Marketing strategy

What is the daily functioning of an organization, managing the inputs and outputs, and includes manufacturing, purchasing, and logistics?

• Operations Management

• Human Resources

• Marketing

• Finance

What is a measure of a company’s financial performance, calculated as net income divided by total shareholder’s equity?

• Return on Equity (ROE)

• Earnings Per Share (EPS)

• Price to Earnings Ratio (P/E)

• Debt to Equity Ratio