Busi100 Midterm Test Questions
Answered Correct 2025-2026 Edition.
Operating Activities - Answer related to the provision of goods or services and other normal
business activities
Investing Activities - Answer related to the acquisition or disposal of long-lived productive
assets
Financing Activities - Answer related to owners or creditors
Revenues - Answer the amount of total sales within a reporting period
Expenses - Answer the "costs" incurred to generate revenues
Net Income - Answer revenues - expenses
Assets - Answer liabilities + stockholder equity
Stockholder equity - Answer assets - liabilities
What percent is owned by the CEO's of most large firms in the U.S. - Answer less than 10%
What is the key argument to Friedman's? - Answer The manager is the AGENT of the
individuals who own the corporation and his primary responsibility is to them
What does Pacioli indicate as being the most important factor in carrying on business? - Answer
cash
Which of the following statements is Defoe least likely to agree with? - Answer At the end of
each month, a tradesperson should make their initial record of every transaction that occurred
during the month
Francis Bacon advocates for a total condemnation and elimination of usury - Answer False
Answered Correct 2025-2026 Edition.
Operating Activities - Answer related to the provision of goods or services and other normal
business activities
Investing Activities - Answer related to the acquisition or disposal of long-lived productive
assets
Financing Activities - Answer related to owners or creditors
Revenues - Answer the amount of total sales within a reporting period
Expenses - Answer the "costs" incurred to generate revenues
Net Income - Answer revenues - expenses
Assets - Answer liabilities + stockholder equity
Stockholder equity - Answer assets - liabilities
What percent is owned by the CEO's of most large firms in the U.S. - Answer less than 10%
What is the key argument to Friedman's? - Answer The manager is the AGENT of the
individuals who own the corporation and his primary responsibility is to them
What does Pacioli indicate as being the most important factor in carrying on business? - Answer
cash
Which of the following statements is Defoe least likely to agree with? - Answer At the end of
each month, a tradesperson should make their initial record of every transaction that occurred
during the month
Francis Bacon advocates for a total condemnation and elimination of usury - Answer False
