The concept that requires an accounting system to reflect only information about economic events that pertain to a particular entity.
What is business entity?
100
The function that is responsible for planning, organizing, directing, and controlling the operations of the business.
What is Production function?
100
Translate a company’s strategy into measurable objectives.
What is Performance Measurement and Management Process
100
This perspective is all about the numbers of the business.
What is Financial Perspective?
100
- A business that exists to produce services such as loaning money, finding investors, and other services for which it charges fees.
What is service firm?
200
The concept that assumes that, absent any information to the contrary, the business entity will continue into the foreseeable future.
What is Going Concern concept?
200
The function of business that determines the wants and needs of consumers and devises a system for distributing the goods and services customers demand.
What is marketing function?
200
The process of gaining capital resourses to invest in the business.
What is Capital Resource Process?
200
esearch and Development- Percent of dollars are actually spent in new product development
What is Learning and Growth Perspective?
200
A business that obtains and distributes goods to customers
What is Merchandising Firm
300
The concept that asserts money is the common measurement unit of economic activity.
What is Monetary Unit?
300
The function that is responsible for managing the financial resources of the business.
What is Finance function?
300
Value added time
What is internal control process?
300
Computer investment that a company would be making in business. The more invest typically a good indicator of how the company is run.
What is Information System perspective?
300
A business organized to convert raw materials into finished good
What is Manufacturing Firm
400
The concept that requires that the success or failure of the business be determined at regular intervals
What is Periodicity Concept
400
The function that is responsible for ensuring that capable employees are given opportunities to succeed in a safe work environment.
What is Human Resources
400
Measure various activities in the company and the quality of the product.
What is Activity Ratio?
400
Market Share-
What is Customer Perspective?
400
Generally accepted accounting principles
What is GAAP?
500
A situation in which the money invested in a corporation is at risk but investors’ personal possessions are not at risk if the business fails.