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HCAD760 MODULE 1 EXAM QUESTIONS WITH VERIFIED ANSWERS
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HCAD760 MODULE 1 EXAM QUESTIONS WITH VERIFIED ANSWERS
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HCAD760 MODULE 1 EXAM QUESTIONS WITHVERIFIED ANSWERS.
Accounting - (ANSWER)measurement in financial (dollar) terms of events that reflect the
resources, operations, and financing of an organization
Financial Management - (ANSWER)provides the theory, concepts, and tools necessary to help
managers make better financial decisions
Characteristics of a business - (ANSWER)• Obtains financing from marketplace
• Uses funds to buy assets
• Operates the assets to provide goods or services
Sells the goods or services to create revenue
4 Cs of finance - (ANSWER)1) Cost minimization 2) Cash sufficiency 3) Capital access 4)
Control of financial resources
Proprietorship - (ANSWER)business owned by a single individual
Partnership - (ANSWER)a business owned by two or more people
Corporation - (ANSWER)Legal business directly separate from owners or management.
Advantages of Proprietorship & Partnership - (ANSWER)ease of formation, few regulations, no
corp. income taxes
Disadvantages of Proprietorship & Partnership - (ANSWER)limited life, difficult to transfer
ownership, unlimited liability
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