Which of the Following Statements, Related to Business Processes, Is

question 54

Multiple Choice

Which of the following statements, related to business processes, is false?

• A)Each business process has a direct effect on the financial status of the organization.
• B)A business process is initiated by a particular kind of event.
• C)A business process has a well-defined beginning and end.
• D)Each business process is usually completed in a relatively short period.

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Definitions:

Look-Back Period

A specified time frame in the past during which relevant financial transactions or performance is reviewed or analyzed.

Payroll Tax Expense

Taxes that are incurred by an employer based on the salaries and wages of employees, including taxes like Social Security and Medicare in the United States.

FICA

The Federal Insurance Contributions Act tax is a United States federal payroll tax imposed on both employees and employers to fund Social Security and Medicare.

SUTA

State Unemployment Tax Act; a tax paid by employers at a state level to fund unemployment benefits for workers who lose their jobs.