QUESTION On a balance sheet, the sum of total liabilities plus owners’ equity must equal what total? What will be an ideal response? ANSWER The sum of total liabilities plus owners’ equity must equal total assets. In this way the balance sheet represents the fundamental accounting equation.
Date: September 3rd, 2020
QUESTION List people or organizations who might make use of a balance sheet. What will be an ideal response? ANSWER Businesses use financial statements, including the balance sheet, to get a complete picture of how well a business is performing. Company leaders, investors, and employees can also use a balance sheet to try to […]
Date: September 3rd, 2020
QUESTION A business plan states an entrepreneur’s goals and the plan to achieve them. Indicate whether the statement is true or false ANSWER TRUE
Date: September 3rd, 2020
QUESTION There are ________ Is that are attributed to great leaders. a. three b. four c. five d. six ANSWER c
Date: September 3rd, 2020
QUESTION All of the following qualities of great leaders EXCEPT ________. a. intelligence b. innovation c. inspiration d. initiative ANSWER a
Date: September 3rd, 2020
QUESTION A business plan should not list the names of the management team to avoid corporate raiding of staff. Indicate whether the statement is true or false ANSWER FALSE
Date: September 3rd, 2020
QUESTION Comment on the suggestion that businesses should avoid all risks. What will be an ideal response? ANSWER This is not possible. Almost everything in business involves some kind of risk. Risk, furthermore, often comes with rewards. The goal of a business is to seek opportunities, assess threats and risks, and enjoy rewards.
Date: September 3rd, 2020
QUESTION By carefully choosing the fisheries from which to purchase resources for their frozen fish products, Unilever is focusing on the sustainability of their ________. a. supply chain b. equilibrium price c. demand curve d. fixed costs ANSWER a
Date: September 3rd, 2020
QUESTION Partnerships are the most common type of business because most people like to share responsibility and risk. Indicate whether the statement is true or false ANSWER FALSE
Date: September 3rd, 2020
QUESTION Can financial statements be used in SWOT analysis? What will be an ideal response? ANSWER Yes, financial statements can be used in SWOT analysis. Some internal strengths and weaknesses are financial. External opportunities and threats also can change financial results. A company must look at its financial statements as part of its SWOT […]
Date: September 3rd, 2020
