The Small Business Administration Is A(n)

question 78

Multiple Choice

The Small Business Administration is a(n) :

• A)body established by the U.S.Chamber of Commerce to encourage the intrapreneurial spirit in small businesses.
• B)independent agency of the federal government that offers managerial and financial assistance to small businesses.
• C)independent agency created under the General Agreement on Tariffs and Trade to protect small businesses against competition from larger companies.
• D)division of the federal government that is responsible for ensuring that newly formed businesses adhere to the law.
• E)U.S.Congressional agency that regulates the issue of stocks by small businesses.

Analyze and prepare general journal and T-account entries for business transactions.

Calculate net income by analyzing changes in assets, liabilities, and equity.

Prepare and analyze trial balances and identify errors.

Understand the impact of business transactions on the financial statements.

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Definitions:

Drum Brake Micrometer

A tool used to measure brake drum diameter and to check for out-of-round.

Out-of-round

A condition where a component, such as a rotor or drum, is not perfectly circular, leading to uneven wear or vibration.

Nonfloating Drum

A type of drum in machinery or equipment that is fixed in place and does not move or float axially under operation.

Wheel Bearing

Any of several types of bearings that reduce friction at the interface of the axle and the hub.