Business Characteristics- Types of Businesses

A system used to record, classify, summarize, & report the financial position of business is known as which of the following? A) Management B) Distribution C) Accounting D) HR - C) Accounting According to the segment, how are businesses classified? A) Number of employees B) Work activities the business perform C) Age of the company D) Profit level of the business - B) Work activities the business performs According to the segment, why is the Finance & Accounting department important to a business? A) Controls hiring decisions B) Businesses cannot exist without cash flow C) Focuses on the worth of the company D) Controls the HR department - B) Businesses cannot exist without cash flow Evaluating employee performance helps with all of the following EXCEPT: A) Transfers B) Sick leave C) Layoffs D) Promotions - B) Sick leave Group training gives employees hands-on practice with supervision. - False