PROTECTION OF ASSETS - SECURITY MANAGEMENT ASIS
EXAM QUESTIONS AND ANSWERS
The following three topics can help communicate an organization's strategy? - CORRECT
ANSWER✅✅✅Vision
mission
objectives
1.2.2
To meet its objectives and implement a strategy, a business must pay attention to its primary resource.
That is? - CORRECT ANSWER✅✅✅It's people
1.3
After employees, what is an organization's second most valuable resource? - CORRECT
ANSWER✅✅✅Corporate knowledge.
1.3.2
The basis of financial management is understanding....... - CORRECT ANSWER✅✅✅the accounting
principles generate financial reports.
2
A company has two options if it wishes to improve margins, they are? - CORRECT
ANSWER✅✅✅Reduce costs or increase the price of its product or service.
2.1
There are three financial reports or statements that have become accepted as the standard, those are? -
CORRECT ANSWER✅✅✅The income statement
balance sheet
statement of cash flows
2.2
, What is GAAP? - CORRECT ANSWER✅✅✅General accepted accounting principles
2.2
What does an income statement tell? - CORRECT ANSWER✅✅✅How much money an organization
generates (revenue),
how much it spends (expenses),
the difference between those figures (net income)
2.2.1
Net income equals - CORRECT ANSWER✅✅✅revenue minus expenses
Expenses are typically grouped into several categories, Five of those are? - CORRECT
ANSWER✅✅✅Cost of goods sold,
sales and marketing,
administrative,
interest,
taxes,
2.2.1
What is a balance sheet? - CORRECT ANSWER✅✅✅A balance sheet summarizes an organization's
investing and financing
2.2.2
What is an asset? - CORRECT ANSWER✅✅✅Anything that a company owns or has title of, that may
provide a future economic benefit.
2.2.2
What are liabilities? - CORRECT ANSWER✅✅✅An organizations financial commitments
EXAM QUESTIONS AND ANSWERS
The following three topics can help communicate an organization's strategy? - CORRECT
ANSWER✅✅✅Vision
mission
objectives
1.2.2
To meet its objectives and implement a strategy, a business must pay attention to its primary resource.
That is? - CORRECT ANSWER✅✅✅It's people
1.3
After employees, what is an organization's second most valuable resource? - CORRECT
ANSWER✅✅✅Corporate knowledge.
1.3.2
The basis of financial management is understanding....... - CORRECT ANSWER✅✅✅the accounting
principles generate financial reports.
2
A company has two options if it wishes to improve margins, they are? - CORRECT
ANSWER✅✅✅Reduce costs or increase the price of its product or service.
2.1
There are three financial reports or statements that have become accepted as the standard, those are? -
CORRECT ANSWER✅✅✅The income statement
balance sheet
statement of cash flows
2.2
, What is GAAP? - CORRECT ANSWER✅✅✅General accepted accounting principles
2.2
What does an income statement tell? - CORRECT ANSWER✅✅✅How much money an organization
generates (revenue),
how much it spends (expenses),
the difference between those figures (net income)
2.2.1
Net income equals - CORRECT ANSWER✅✅✅revenue minus expenses
Expenses are typically grouped into several categories, Five of those are? - CORRECT
ANSWER✅✅✅Cost of goods sold,
sales and marketing,
administrative,
interest,
taxes,
2.2.1
What is a balance sheet? - CORRECT ANSWER✅✅✅A balance sheet summarizes an organization's
investing and financing
2.2.2
What is an asset? - CORRECT ANSWER✅✅✅Anything that a company owns or has title of, that may
provide a future economic benefit.
2.2.2
What are liabilities? - CORRECT ANSWER✅✅✅An organizations financial commitments
