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WorksheetsIMR652_Activity
Total questions: 10
Worksheet time: 5mins
Business Records can be defined as business information which is kept for evidence and references and created in the course of conducting business.
True
False
Which statement/s is true about 'business management'?
General management of business operation and often structured as a hierarchy.
Work towards organization’s goal and objectives as well as aligning an organization with the wants and needs of business partners and investors only.
Business management comprises organizing, planning, leading, staffing or controlling and directing a business effort for the purpose of accomplishing the entity's listed goals.
Personnel records are related to staff or any individual that is involved in an organization.
True
False
Maintenance and repairs: buildings, machinery, depreciation schedules, plans and specifications, damage reports are examples of plan and property records.
True
False
Bids, awards, purchase orders, quotations are examples of taxation records.
True
False
Inspection records, production reports, operating reports, quality control reports, order register are examples of records produced by Corporate Department
True
False
Sales and marketing department produce records related with the process of selling and buying such as sales invoices, market research studies and analysis and price lists.
True
False
Sole Proprietorship can be defined as:
Business owned by more than two business owners.
True
False
Cooperative is a form of business ownership in which group of sole proprietorship or partnership agree to work together to commit benefits.
True
False
A corporation is a legal entity that is separate and distinct from its owners.
Corporations enjoy most of the rights and responsibilities that individuals possess: they can enter contracts, loan and borrow money, sue and be sued, hire employees, own assets, and pay taxes.
True
False
