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Module 1
Module 1
Module 1
Module 1
Module 1
100
What is known as Currency unit (such as the dollar, euro, peso, rupee) issued as a coin or banknote, and used as a standard unit of value and a unit of account. This may be issued in several denominations which are multiples (such as $1, $5, $10, etc.) or fractions (such as ¢1, ¢5, ¢10, etc.) of the basic unit.
What is Monetary Unit?
100
What process describes an organization undergoes to manage people in order to achieve their goals.
What is a Human Resource Function
100
what is the benefit to an investor resulting from an investment of some resource. A high ROI means the investment gains compare favorably to investment cost. As a performance measure, ROI is used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments. In purely economic terms, it is one way of considering profits in relation to capital invested.
What is return on investment?
100
efficiency strategy
What goes with certain environment and inward focus?
100
which of the following strategies focuses mainly on reduction of cost?
What is Efficiency Strategy?
200
What means that accountants will assume that a company's complex and ongoing activities can be divided up and reported in annual, quarterly and monthly financial statements. For example, some earth-moving equipment may require two years to manufacture but the activities will be divided up and reported in quarterly financial statements. A similar situation occurs at a company that develops complex digital systems.
What is periodicity?
200
What is the role that helps a company to identify and source potentially successful products for the marketplace and then promote them by differentiating them from similar products. That within a larger business might include performing market research, producing a marketing plan, and product development, as well as strategically overseeing advertising, promotion, distribution for sale, customer service and public relations.
What is a Marketing Function?
200
what is is a measure of profitability that calculates how many dollars of profit a company generates with each dollar of shareholders' equity.
What is return on owners equity?
200
Flexible strategy
What goes with uncertain environment and outward focus?
200
business organization and strategy, operating, capital resources, and performance measurement and management
What is the four basic business processes
300
What concepts states that the accounting records reflect the financial activities of a specific corporate entity, separate and distinct from the people who finance it or work in it. It is one of the 'ground rules' of accounting.
What is business entity?
300
Which of the following describes a boundary or frontier representing the limit of output obtainable from each feasible combination of inputs.
What is a Production Function?
300
what measures of how well a company can meet its short-term financial liabilities. Also known as the acid-test ratio, it can be calculated as follows: (Cash + Marketable Securities + Accounts Receivable) / Current Liabilities.
What is quick ratio?
300
rigid strategy
What goes with certain environment and outward focus?
300
what involves the investing and financing activities of the business. the investinh processes/activities involve the purchase and sale of LT assets. for ex: purchasing equipment and buildings that a company expects to use over a period of years is an investing process. however actually using the buildings and equipment is an operating process. financing processes/activities involve obtaining the cash or other resources to pay for investments in LT assrts, to repay money borrowed from creditors.
What is capital resources process
400
What is the assumption that an entity will remain in business for the foreseeable future. Conversely, this means the entity will not be forced to halt operations and liquidate its assets in the near term at what may be very low fire-sale prices. By making this assumption, the accountant is justified in deferring the recognition of certain expenses until a later period, when the entity will presumably still be in business and using its assets in the most effective manner possible.
What is Going Concern?
400
What is is a liquidity and efficiency ratio that measures a firm's ability to pay off its short-term liabilities with its current assets.
What is Current Ratio?
400
Something that broadly defined as a process, effected by an entity's board of trustees, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories: Effectiveness and efficiency of operations. Reliability of financial reporting.
What is a internal Control?
400
is made up of processes that improve products. This process in the cycle time example is the process time. This is the amount of time it takes to actually produce the product. An example is production time
What is value added time?
400
since the mid 1990s many companies have adopted a perf measurement and management process known as balanced scorecard approach.
What is performance measurement and management process
500
What function deals with the process of acquiring and utilizing funds of a business
What is a Finance Function?
500
what is a profitability ratio that compares the gross margin of a business to the net sales.
What is Gross Margin Ratio?
500
a management approach that is the exact opposite of flexibility. This method means that managers are content to leave employees and resources where they are, even in the face of adverse threats. The idea is to "ride out the storm" by creating a stable and secure organization that can survive any challenge.
What is rigid strategy?
500
The Capital Resources Process features which of the following pairs of activities?
What is financing and investing?