BUS 110 Exam 1
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Terms in this set (149)
A business is any activity that provides a good or
How do we define the
service to customers for the purpose of making a
term "business"?
profit.
The terms "profit," "loss," When revenue exceeds costs; When costs exceed
and "value" can be revenue; the perceived benefits by a customer of
described by the price to the time and money spent.
following, respectively:
,Alice takes her car to the The dealership has provided both a good and a
dealership for a routine service.
scheduled maintenance
i.e., oil change, filter
change, lubrication, and
tire rotation. Alice
receives a call from the
dealership later that day
stating that the
technician discovered
serious wear in her two
front tires during the
rotation and
recommends replacing
the tires. Alice agrees
and tells the dealership
that she will purchase
two new tires and asks if
they can be installed by
the time she picks up her
,vehicle. Has the
dealership provided a
good or a service for
Alice?
Glenda opened a tax making a profit
accounting business
where she works with
small businesses to
manage their finances
and prepare their
records for tax season.
Glenda's primary
objective when she
opened her business
was:
, The amount a business profit
earns after deducting
what it spends for rent,
salaries, and other
expenses is:
Kim goes to Hot Heads a service
at the beginning of
March and asks her
stylist to cut her hair
shorter and change her
hair color to green for St
Patrick's Day. What has
the hair salon provided
Kim?
The purpose of a for- Return profits to the owners of the business.
profit business is:
Save
Terms in this set (149)
A business is any activity that provides a good or
How do we define the
service to customers for the purpose of making a
term "business"?
profit.
The terms "profit," "loss," When revenue exceeds costs; When costs exceed
and "value" can be revenue; the perceived benefits by a customer of
described by the price to the time and money spent.
following, respectively:
,Alice takes her car to the The dealership has provided both a good and a
dealership for a routine service.
scheduled maintenance
i.e., oil change, filter
change, lubrication, and
tire rotation. Alice
receives a call from the
dealership later that day
stating that the
technician discovered
serious wear in her two
front tires during the
rotation and
recommends replacing
the tires. Alice agrees
and tells the dealership
that she will purchase
two new tires and asks if
they can be installed by
the time she picks up her
,vehicle. Has the
dealership provided a
good or a service for
Alice?
Glenda opened a tax making a profit
accounting business
where she works with
small businesses to
manage their finances
and prepare their
records for tax season.
Glenda's primary
objective when she
opened her business
was:
, The amount a business profit
earns after deducting
what it spends for rent,
salaries, and other
expenses is:
Kim goes to Hot Heads a service
at the beginning of
March and asks her
stylist to cut her hair
shorter and change her
hair color to green for St
Patrick's Day. What has
the hair salon provided
Kim?
The purpose of a for- Return profits to the owners of the business.
profit business is:
