Introduction to Business DSST 899 |practice exam study guide Questions And Answers| Download To Pass|75 Pages

absolute advantage - ️️A monopoly on producing a product at a lesser price. absolute liability - ️️Responsibility of a producer of any harm that is caused by s product (regardless if it was foreseeable). accountability - ️️Accepting consequences of actions. accounting - ️️The occupation of maintaining and auditing records and preparing financial reports for a business and the interpretation thereof. accounting system - ️️Computer program for accounting. accounts payable - ️️Bills due as part of a normal course of a business. accounts receivable - ️️Debts owed to a business. accrual-based accounting - ️️Business accounting, assuming accounts payable. accumulated depreciation - ️️Reduces the accounting value of assets. acquisition costs - ️️Incremental costs involved in a new customer. activity based costing - ️️An accounting framework based on determining the cost of activities and allocating these costs to products using activity rates.