Business Foundations questions and answers verified and updated.

Business Foundations questions and answers verified and updated. business - correct organization in which basic resources (inputs) such as materials and labor are assembled and processed to provide goods or services (outputs) to customers profit - correct difference between the amounts received from customers for goods or services and the amounts paid for the inputs used to provide the goods or services service business - correct of business that provides services rather than products to customers merchandising business - correct of business that sells products they purchase from other businesses to customers manufacturing business - correct of business that changes basic inputs into products that are sold to customers accounting - correct information system that provides reports to users about the economic activities and condition of a business managerial accounting - correct of accounting that provides internal users with information private accounting - correct erial accountants employed by a business are employed in ________ financial accounting - correct area of accounting that provides external users with information general purpose financial statements - correct type of financial accounting report that is distributed to external users. auditors - correct ntants who provide audit services who verify the accuracy of financial records, accounts, and sy