Business Essentials Module 4-II

what accounting record would summarize a businesses profit or loss for a previous year?

• income statement

• balance sheet

which of the following business activities monitors and control the firm's revenue and debt?

• human recourses management

• finance

What provides the basis for all marketing goals and actions?

• planning

• pricing

Which of the following is an example of communicating with customers

• sponsoring a charity event

• Developing a marketing plan

which of the following is most likely to increase a company's capital assets?

• purchasing land for future expansion

• obtaining a loan to make payroll

a bank denies a business owners application for credit saying, "we feel that you would be unable to make the monthly payments because of your other debts." What financial report did the bank review?

• income statement

• balancing sheet

Which of the following is a capital investment decision?

• how to manage inventory

• how to finance investments

why are accurate accounting records important to a business?

• they give the business an image of success

• they show how the business is doing

Which of the following is a marketing activity?

• communicating with customers

• balancing customer needs with wants

which of the following makes comparison of the financial conditions at multiple organizations possible?

• trial balance

• accounting standards