The Sarbanes-Oxley Act requires that CEOs and financial officers personally
certify the validity of their financial statements.
~ true
Every January, Regal League Inc. distributes special coupons for some of its
leading brands and pays the Special Olympics 10 cents for every redeemed
coupo...
A core goal for successful businesses is to deliver value to customers while
generating long-term profits.
✓~ True
Even though non-profit organizations are not in business for financial gain, they
are still businesses in every other sense.
✓~ True
Organizations generate long-term success by delivering unsurpassed value to
their customers.
✓~ True
Value is the relationship between the price of a good or a service and the
benefit that the service offers to the customer.
,✓~ True
Economic factors are not as important to non-profit organizations as they are
to for-profits.
✓~ True
The technological environment is less important to small business than it is to
large businesses.
✓~ False
For-profits are understandably less concerned about trends in the social
environment.
✓~ False
Non-profits have no need to be concerned about the competitive environment.
✓~ False
Small businesses have no need to be concerned about the global environment.
,✓~ False
Supply is defined as:
✓~ the quantity of products that a producer will make for a specific price.
Ann is a manager at a store than sells casual clothing and accessories for both
men and women. She notices that the jeans priced at $120 aren't selling very
well. She wants to increase sales of these jeans before next season. The
approach Ann should take to achieve this is:
✓~ lower the price of the jeans so that demand will increase.
Demand is defined as
✓~ the amount of products or services consumers are willing to pay at different
prices.
Fair competition among businesses:
✓~ drives higher quality and lower prices in capitalism.
, A basic characteristic of ______________________ is that both producers
and consumers are free to make their own economic decisions on many basic
issue.
✓~ capitalism.
_____________________ is an economic system based upon the principle that
the government should own and operate key enterprises that directly affect
public welfare.
✓~ Socialism
Which of the following is a difference between a socialist economic system and
a communist economic system?
✓~ Socialism controls social welfare. Communism controls almost everything.
To encourage fair competition and protect both consumers and workers, the
Federal Government:
✓~ creates regulations to intervene in the free market.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TestTrackers. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
