POBF 5.02-5.04 Review

Question 1

Systematic process of recording, classifying, summarizing & communicating financial information

Accepted Answer

Accounting

Question 2

A company's debt is

Accepted Answer

money owed to banks or investors

Question 3

A service or business that sells to the consumer is a

Accepted Answer

retailer

Question 4

Promoting and selling products or services, including market research and advertising.

Accepted Answer

Marketing

Question 5

Responsibility towards the community and the environment is

Accepted Answer

social responsibility

Question 6

Internal and external factors that stimulate desire and energy to attain a goal.

Accepted Answer

motivation

Question 7

Activities involved in the day to day functions of the business to generate profits.

Accepted Answer

Operations

Question 8

An example of a non-profit business is

Accepted Answer

American Heart Association

Question 9

Non-profit businesses exist to fulfill a mission.

Accepted Answer

True

Question 10

A loan's principal balance

Accepted Answer

original amount borrowed less principal payments

Question 11

The processes and methods used to transform tangible inputs into goods and services.

Accepted Answer

production

Question 12

Good information management should emphasize

Accepted Answer

how information will be used

Question 13

Sells goods to anyone other than a standard consumer.

Accepted Answer

wholesaler

Question 14

A tariff is the same as a

Accepted Answer

tax

Question 15

The Clayton Act established the FTC.

Accepted Answer

True

Question 16

A human resource (HR) department might

Accepted Answer

oversee employee evaluations

Question 17

The manufacturing of a good on a large scale.

Accepted Answer

Mass production

Question 18

Equity is

Accepted Answer

What a business owns minus its debt

Question 19

The money that "angel" investors put into a start-up business is called:

Accepted Answer

venture capital

Question 20

Monopolies

Accepted Answer

discourage competition

Questions 20