simon fraser university (SFU ) • BUS 201

Benefits of a corporation include easier to transfer ownership, raise funds, and no personal liability. Stockholders' equity is comprised of common stock and retained earnings the definition of accounting the info system that identifies records, and communicates economic events of an organization to interested users. Borrowing money is an example of a financing activity The essential point of the double entry system of accounting is that every transaction affects two or more ledger ...

BUS 201 Quizzes Questions And Answers With Complete Solutions

BUS 201 Exam Questions And Answers With Complete Solutions

UCC correct answer: modifies terms of a contract that are silent Sale correct answer: Passing title from seller to buyer for a price. Price may be in cash or in other goods or services Article 2 correct answer: Modifies the common law of contracts in certain areas, especially if one of the parties is a merchant Goods correct answer: must be tangible and movable (not land, services or intangibles) Merchant correct answer: A merchant is one who deals in goods of the kind sold, and...

descriptive statistics correct answer: methods of organizing, summarizing, and presenting data in an informative way inferential statistics correct answer: A decision, estimate, prediction, or generalization about a population, based on a sample. Population correct answer: a collection of all possible individuals, objects or measurements of interest sample correct answer: a portion/part of the population of interest 1. prohibitive cost of census 2. destruction of item being stud...

Sustainability correct answer: meeting the needs of the present without compromising the ability of future generations to meet their own needs Triple Bottom Line correct answer: considering business from economic, environmental and social perspectives and measures business performances enlightened self interest correct answer: the realization that by helping others we are really helping ourselves in the end private market transaction correct answer: a loan that only involves the two...

T/F: Crimes are prosecuted by the government. correct answer: True T/F: The ethical responsibility of business if formed only by expectations employees have of employers. correct answer: False T/F: A court must have different types of jurisdiction to decide any particular case. correct answer: True T/F: In rem jurisdiction references jurisdiction over a person subject to an order of guardianship. correct answer: False T/F: In some cases, the U.S. Supreme Court functions as a...