LSUS MBA 700 Module 1 Exam Questions and Answers 100% Pass

LSUS MBA 700 Module 1 Exam Questions
and Answers 100% Pass


Accounting -

CORRECT ANSWER: the process of organizing, analyzing, and

communicating financial information that is used for decision-making




QUESTION: Stakeholder -

CORRECT ANSWER: someone affected by decisions made by a

company. users of the information found in financial statements




QUESTION: For-Profit Business -

CORRECT ANSWER: earns a profit by selling goods and services.




QUESTION: 3 Types of For-Profit Business -

, CORRECT ANSWER: 1. Manufacturing - specialize in procuring

components in the most basic form




2. Retail Business (or merchandising busing) - purchases products for

inventory and sells them to the consumer in the same condition

(production state)




3. Service Business - provides services rather than tangible products to

consumers




QUESTION: 4 Types of Financial statements -

CORRECT ANSWER: 1. Income Statement

2. Statement of Owner's Equity

3. Balance Sheet

4. Statement of Cash Flows




QUESTION: Income Statement -