Introduction to Business DSST | 899 Questions And Correct Answers |100% Verified |Guaranteed Success

absolute advantage - Answer-A monopoly on producing a product at a lesser price. absolute liability - Answer-Responsibility of a producer of any harm that is caused by s product (regardless if it was foreseeable). accountability - Answer-Accepting consequences of actions. accounting - Answer-The occupation of maintaining and auditing records and preparing financial reports for a business and the interpretation thereof. accounting system - Answer-Computer program for accounting. accounts payable - Answer-Bills due as part of a normal course of a business. accounts receivable - Answer-Debts owed to a business. accrual-based accounting - Answer-Business accounting, assuming accounts payable. accumulated depreciation - Answer-Reduces the accounting value of assets. acquisition costs - Answer-Incremental costs involved in a new customer. activity based costing - Answer-An accounting framework based on determining the cost of activities and allocating these costs to products using activity rates. actuaries - Answer-Mathematicians predicting future losses based on history. adaptive firm - Answer-Ability to respond to and address changes in their market, environment, and ture capital - Answer-Money needed at the earliest stages of the creation before a product or service is available. advertising - Answer-Paid communication in selling a product. affirmative action - Answer-Favored employment for minorities. agency shop agreement - Answer-Employee must pay union dues. agent - Answer-One who negotiates, purchases, an/or sells, but no title to goods. alternative dispute resolution - Answer-Resolving disputes through mediation and arbitration. American Federation of Labor (AFL) - Answer-A national organization of labor unions founded in 1886 by Samuel Gompers. analytics - Answer-Process of making decisions based on evidence. area of job freedom - Answer-area of discretion over job