Chapter 1 through Chapter 13. Each question is worth 2.5 points. This study guide indicates the items you should review before taking the exam. GOOD LUCK! CHAPTER 1 1. Know the 3 forms of business entities 2. Know the definitions of revenues and expenses 3. Know the difference between internal and external users 4. FASB – responsible for GAAP (accounting principles) 5. Accounting Equation 6. Know the 3 activities that business engage in and give examples of each activity. (These
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Why do companies need a strategy? Strategy is very important for a business. Without a strategy an existing business can drift away from its customers and become uncompetitive with its environment and eventually the business will stop making profit. This is known as strategic drift. In other words‚ having a strategy is a way to remain competitive or it is a way of forcing a strategic change when an organisation has drifted away from its environment and is staring to fail. Lately‚ these strategic
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What do you think is unethical? The countrywide approved everyone to get their loans‚ no matter they have jobs or not‚ no matter they have income or not‚ no matter they have assets or not. The criteria they use may be unethical. They don’t care whether the documents are valid‚ whether they can verify the income‚ whether the appraisal is any good. They just care about getting the loan closed‚ in order to do another loan. The underwriters/ contractors looked through the loan as quick as they can.
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1. Why Should You Write a Business Plan? You don’t need a business plan‚ but most businesses who find success formed a business plan. Not having a business plan is like taking an exam with out studying. “A study of small businesses survey found that companies that had a business plan were far more likely to succeed than those that did not.” and “University of Pennsylvania’s Wharton School said‚ "A comprehensive and complete business plan is crucial to the success of any business” (Schiff.) Although
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Organisations are an integral part of any society. They use various resources from the society to carry out their operations and make financial profits. They have a responsibility toward the society and all the stakeholders involved. Milton’s statement is definitely wrong. Companies need to understand their responsibilities towards the society and public at the large. Nowadays consumers are very much aware and concerned about the practices that the firms use in their day to day operations. People
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Do you think religion has a place in the 21st Century Britain? In the following essay I will be discussing my opinion on whether or not religion has a place in 21st Century Britain. As Britain starts to modernise throughout the 21st Century‚ in some areas of society religion has become out dated for example‚ the ways of marriage and relationships or the way in which certain situations can be justified‚ I will be expanding on these and other situations on which religion effects society in 21st
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she “failed to fulfill professional responsibilities.” 2-24. Do you think Ms. Browne Sanders had the basis for a sexual harassment suit? Why? (Answer) I think Ms. Browne Sanders had the basis for a sexual harassment suit because everyone is entitled to be comfortable at work. If she did not feel comfortable at work then
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Why Should You Choose an Online Accounting Degree? 1. Accounting is an evergreen field Students who opt for a career in accountancy have a wide range of career options. As compared to other professionals‚ people with an accountancy background have a comparatively secure job and enjoy a good pay scale. There is considerable flexibility within the profession of accounting. You can work for the same organization over a considerable time period‚ but change departments like from audit to treasury
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The company I decided to research was the homebuilding company Hovnanian Enterprises. I chose to analyze this company and their financial information because I recently own shares within the company. This past summer my grandmother decided to buy stock for me as a college gift. She felt investing and starting early is important since she has been for 60 years. Up until this paper‚ I had no knowledge about the only company I own stock in. I decided this was the perfect opportunity to learn more about
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opinion he has what it takes to be our next president. Mr. Sanders and I agree on many situations going on in our world today‚ the environment‚ foreign policy‚ the economy‚ healthcare‚ education etc. Mr. Sanders is a democratic who agrees that environmental actions should be taken; for example Mr. Sanders thinks national parks should be preserved and protected by the federal government. Mr. Sanders response was “yes‚ and the government should protect more land” there are other reasons why Bernie Sanders
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