An Efficient Filing System

question 41

Multiple Choice

An efficient filing system

• A) helps to ensure that important documents will not be lost or misplaced.
• B) involves casual procedures based on tradition.
• C) ensures that important documents will be available when needed.
• D) will involve formal written procedures and a procedures manual.
• E) helps to ensure that important documents will not be lost or misplaced and ensures that important documents will be available when needed.

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Definitions:

Operating Expenses

Costs associated with the day-to-day operations of a business such as rent, salaries, and utilities.

Revenues

Income generated from normal business operations and includes discounts and deductions for returned merchandise.

Net Income

The total earnings of a company after subtracting all expenses, including taxes and operating costs, from its total revenues.

Operating Expenses

Costs associated with the day-to-day operations of a business, such as rent, utilities, and salaries, excluding direct production costs.