Which of the Following Is the Chinese Term for a Way

question 104

Multiple Choice

Which of the following is the Chinese term for a way of doing business in which parties must first invest time and resources in getting to know one another and becoming comfortable with one another before consummating any important deal?

• A) Guanxi
• B) Dostat
• C) Hungchoi
• D) BRIC
• E) Chow Shi

---

Definitions:

Proper Journal Entry

A record used in accounting to track the transfer of assets, liabilities, or equity from one account to another, ensuring each transaction is accurately captured.

Periodic Inventory System

An inventory accounting system where updates to inventory levels are made at specific intervals, such as monthly or annually, rather than continuously.

Physical Count

A manual inventory verification process where actual items are counted to ensure accuracy of records.

Inventory System

A method for tracking the quantity, value, and location of a company's inventory, both current and sold.