What is an entity that is formed and administered as per commercial law in order to engage in business activities, charitable work, or other activities allowable?
What is a business entity?
100
What is the function to achieve three benefits: business support service, lowest costs and effective control of the environment?
What is finance function?
100
What is an opinion on whether the information presented is correct and free from material misstatements, whereas all other determinations are left for the user to decide?
What is the report of an independent auditor on a financial statement?
100
What is the analysis of the ability to pay current obligations?
What is current ratio?
100
What is maintaining adequate documents and records an example of?
What is an example of internal control?
200
What is the assumption that an entity will remain in business for the foreseeable future?
What is Going Concern?
200
What is the function to plan, develop, and administer policies and programs designed to make use of an organization’s human resources?
What is the human resource function?
200
What is a business that generates income by providing services instead of selling physical products?
What is a service business?
200
What is the analysis of the profitability of products?
What is gross margin ratio?
200
What is physically controlling assets and documents an example of?
What is an example of internal control?
300
What is a standard unit of value of a country's coinage?
What is a monetary unit?
300
What is a role which helps a company to identify and source potentially successful products for the marketplace they operate on and then promote them by differentiating them from similar products?
What is the marketing function?
300
What ensures that products appear in the right store, or on a website, at the appropriate time and in the correct quantities?
What is a merchandiser?
300
What is a relationship of net income to average total assets?
What is return on investment?
300
What is requiring proper authorization involved in?
What is needed in internal control?
400
What is the indefinite life of an enterprise is subdivided into time periods which are usually of equal length for the purpose of preparing financial reports on financial position, performance and cash flows?
What is periodicity?
400
What is one of the key concepts of mainstream theories, used to define marginal product and to distinguish efficiency?
What is the production function?
400
What is a person or company that makes goods for sale.
What is a manufacturer?
400
What is a relationship of net income to average owners’ equity?
What is return on owners' equity?
400
What involves separating incompatible functions?
What is internal control?
500
What are the business concepts that cover keeping the business records separate from the owners' records?
What is a business entity, going concern, monetary unit, and periodicity?
500
What is this function whose primary purpose is to address allocative efficiency in the use of factor inputs in production and the resulting distribution of income to those factors, while abstracting away from the technological problems of achieving technical efficiency?
What is the production function?
500
What is made up of processes to improve products?
What is value added time?
500
What is the relationship of liquid assets to current liabilities?
What is quick ratio?
500
What protects a business's assets through maintaining adequate documents and records, physically controlling assets and documents, requiring proper authorization, and separating incompatible functions?