Accounting 200 Exam 1 UTK EXAM Questions
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resolves differences in bank's version of company's cash in/out and
company's version of cash in/put
can reveal theft of cash
Choose an answer
1 The three types of a business 2 Monthly Bank Reconciliation
3 Stakeholder 4 Partnership
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Terms in this set (46)
, The three types of a business Service Business
Merchandising Business
Manufacturing Business
Business An organization that sells goods or services to
customers
The four business forms Proprietorship
Partnership
Corporation
Limited Liability Company
Proprietorship Owned by one individual
Partnership Owned by more than one individual or entity
(partners)
Corporation Owned by more than one individual or entity
(stockholders)
Limited Liability Company owned by more than one individual or entity
(members)
Equation for Net Income Revenues - Expenses
Revenue amount the business earned this period
Expenses costs the business incurred this period in earning
revenue
Low-cost emphasis high volume to make a profit
acceptable quality at low cost
Premium-price emphasis don't need high volume to make profit
unique qualities at a premium price
with 100% Correct Answers | Verified | Updated
(Actual Exam)
Save
Practice questions for this set
Learn 1 /7 Study with Learn
resolves differences in bank's version of company's cash in/out and
company's version of cash in/put
can reveal theft of cash
Choose an answer
1 The three types of a business 2 Monthly Bank Reconciliation
3 Stakeholder 4 Partnership
Don't know?
Terms in this set (46)
, The three types of a business Service Business
Merchandising Business
Manufacturing Business
Business An organization that sells goods or services to
customers
The four business forms Proprietorship
Partnership
Corporation
Limited Liability Company
Proprietorship Owned by one individual
Partnership Owned by more than one individual or entity
(partners)
Corporation Owned by more than one individual or entity
(stockholders)
Limited Liability Company owned by more than one individual or entity
(members)
Equation for Net Income Revenues - Expenses
Revenue amount the business earned this period
Expenses costs the business incurred this period in earning
revenue
Low-cost emphasis high volume to make a profit
acceptable quality at low cost
Premium-price emphasis don't need high volume to make profit
unique qualities at a premium price
