Unit 1&2
What is an ethical dilemma?
A situation in which two moral principles conflict with one another.
What is a HR?
resources—people who work to produce goods and services.
What is accounting?
The process of keeping financial records.
the beneficiary of life insurance policy is...
The person who receives the life insurance program.
The web search tools are...
search engines,worldwideweb(WWW) and browsers.
What are E-tailers?
Retailers who operate solely online.
what are the HR basics?
Planning,staffing and leading.
Operations are...
Day to day activities for continued business functioning.
True of false.Goods are merchandise that businesses sells to consumers.
True
What accounting record would summarize a business's profit or loss for a previous year?
income sheet.
What is brick and mortar?
A business that operates out of a physical facility (instead of online).
The impact of HR management is...
Making employees more productive,satisfied and knowledgeable.
What is a balance sheet?
A financial statement that contains details of a company's assets or liabilities at a specific point in time.
What are two types of databases?
Single user/Multi-user
What are source documents?
Checks, receipts, invoices, and purchase orders.
What are capital goods?
Manufactured or constructed items that are used to produce goods and services.
Importance of Positive Customer Relations is..
Tough-to-please customers
Fierce competition
Value of customer loyalty
logistics is...
Managing flow of goods/services from production to consumption.
What is a franchise?
An authorization granted by a company to an individual or group enabling them to carry out specified commercial activities.
What type of accounting method would most likely be used by a small business owner who does not offer credit?
cash method.
What are the 3 categories of economic resources?
Natural resources,human resources and capital good.
What Factors could be Affecting Customer Relations?
Business environment
Tangible—
physical environment
Intangible—
corporate culture
True or False. Anything can be marketed like ideas,services,events and people.
True.
What are the 4 big V's of data?
volume,variety,velocity and veracity.
Define gross profit.
The profit a company makes after deducting the costs associated with making and selling its products.