Exam (elaborations)
BUSINESS DRIVEN TECHNOLOGY 7Th Edition By PAIGE BALTZAN - TEST BANK
- Module
- BUSINESS DRIVEN
- Institution
- BUSINESS DRIVEN
BUSINESS DRIVEN TECHNOLOGY 7Th Edition By PAIGE BALTZAN - TEST BANK
[Show more]
Content preview
, Plug-In B1Business Basics
True / False Questions
1. Human resources management includes the policies, plans, and procedures for the
effective management of employees (human resources).
True False
2. Accounting deals with the strategic financial issues associated with increasing the
value of the business while observing applicable laws and social responsibilities.
True False
3. Break-even analysis is the point at which revenues equal costs.
True False
4. For-profit corporations primarily focus on making money and all profits and losses are
shared by the business owners.
True False
5. A loss occurs when businesses sell products or services for less than they cost to
produce.
True False
Multiple Choice Questions
6. What occurs when businesses sell products or services for more than they cost to
produce?
A. Expens
e
B. Profi
t
C. Los
s
D. Revenu
e
1-1
Copyright © 2018 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
,7. Which of the following is not a type of business?
A. Sole
partnership
B. Partnershi
p
C. Limited
partnership
D. Corporati
on
8. Which form of business recommends a legal agreement between two or more
business partners that outlines core business issues?
A. Sole
proprietorship
B. Partnershi
p
C. Corporati
on
D. LLC
9. What is the fundamental difference found in a limited partnership?
A. Only one partner is responsible for all of the
partnership's losses.
B. Both partners are responsible for all of the
partnership's losses.
C. Both partners are protected from being responsible for all of the
partnership's losses.
D. None of
these.
10. Partnership agreements typically include all of the following, except:
A. Expectations for sharing profits and
losses.
B. Partner's salary
requirements.
C. Methods for conflict
resolution.
D. Shareholder's expectations for a successful
business.
1-2
Copyright © 2018 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
, 11. What is a hybrid entity that has the legal protections of a corporation and the ability
to be taxed (one time) as a partnership?
A. Limited
partnership
B. Limited liability
corporation
C. Limited
proprietorship
D. Limited
shareholder
12. What analyzes the transactional information of the business so the owners and
investors can make sound economic decisions?
A. Accounti
ng
B. Bookkeepi
ng
C. Financial
Accounting
D. Managerial
Accounting
13. What refers to the amount earned resulting from the delivery or manufacture of a
product or from the rendering of a service?
A. Expens
e
B. Profi
t
C. Los
s
D. Revenu
e
14. What involves preparing financial reports that provide information about the
business's performance to external parties such as investors, creditors, and tax
authorities?
A. Accounti
ng
B. Bookkeepi
ng
C. Financial
accounting
D. Managerial
accounting
1-3
Copyright © 2018 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
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 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 evileye251. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £20.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76449 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now