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Straighterline Business BUS 101 Straighterline Inro to Business Final Exam Study Guide Questions with Verified Solutions | 100% Pass Guaranteed | Graded A+ |$14.99
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Straighterline Business BUS 101 Straighterline Inro to Business Final Exam Study Guide Questions with Verified Solutions | 100% Pass Guaranteed | Graded A+ |
Straighterline Business
BUS 101 Straighterline Inro to Business Final Exam Study Guide Questions with Verified Solutions | 100% Pass Guaranteed | Graded A+ |
Straighterline Business
BUS 101 Straighterline Intro to Business
Exam
Course Title and Number: BUS 101 Straighterline
Intro to Business Exam
Exam Title: BUS 101 Straighterline Intro to Business Exam
Exam Date: Exam 2024- 2025
Instructor: [Insert Instructor’s Name]
Student Name: [Insert Student’s Name]
Student ID: [Insert Student ID]
Examination
180 minutes
Instructions:
1. Read each question carefully.
2. Answer all questions.
3. Use the provided answer sheet to mark your responses.
4. Ensure all answers are final before submitting the exam.
5. Please answer each question below and click Submit when you
have completed the Exam.
6. This test has a time limit, The test will save and submit
automatically when the time expires
7. This is Exam which will assess your knowledge on the course
Learning Resources.
Good Luck!
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, Straighterline Business 2025-2025
BUS 101 Straighterline Inro to Business Final Exam
Study Guide Questions with Verified Solutions | 100%
Pass Guaranteed | Graded A+ |
Read All Instructions Carefully and Answer All the
Questions Correctly Good Luck: -
Business - Answer>> A collection of assets belonging to
owners, designed and organized to achieve some
purposeful activity (usually the profitable sale of goods
and services to others)
Profit - Answer>> The excess return above and beyond
the cost of producing and selling goods and services;
the amount of money a business earns after deducting
what it spends for salaries, raw materials, and other
expenses
If a business's costs and expenses are greater than its
revenue____________ - Answer>> The business will suffer
a loss
Public relations - Answer>> o Evaluation of public
attitudes, and adjusts policies and practices to align
with public opinion
o Designed to 'sway' public opinion toward support or
at least acceptance of the firm's policies, product
decisions
Sales promotion - Answer>> o Stimulates buyers to buy;
short-term incentives
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,o Often reduces the sales price but increased sales
volume, consumer use, and awareness may offset
losses
• Coupons
• Samples
• BOGO
• Sweepstakes
Accounting is the system of ___________ - Answer>> o
Recording
o Classifying
o Summarizing
o Analyzing
Some decision makers who use financial information -
Answer>> o Managers
o Employees
o Owners
o Creditors
o Suppliers and competitors
o Government agencies
o Investors
Public firms - Answer>> o Are required to file annual and
quarterly statements with government
EDGAR - Answer>> o Reporting system that you can
access to view data
Private firms - Answer>> o Not required to report, but
often do
Non-profits - Answer>> o Required to file statements to
receive various benefits, grants, status etc.
• Guide star
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, o Free financial info
Balance sheet - Answer>> o Total amount of assets,
liabilities, and owners equity as of a certain date
(A=L+E)
• Assets= Liabilities+ equity
• Assets-Stuff you own as a business (Resources)
• Patents
• Buildings
• Land
Stuff you own as a business (Resources) - Answer>> •
Patents
• Buildings
• Land
Liabilities - Answer>> • Debts
• Payables
• What we owe
Owners equity - Answer>> • Contributed capital
Income statement - Answer>> o Summery o all the
revenues and expenses over a specific period of time
(quarter, year)
• Total revenue-total expenses= Net income (or loss)
o Top line= sales
o Bottom line= profits
Statement of cash flow - Answer>> o Summary1 of CASH
coming in and going out over a specific time period
(Quarter, year); the change in CASH POSITION and what
caused the change
o Basic formula for the statement of cash flows
• New cash flows from operations
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