The Five Basic Entities That Make Up Any Business Are

question 27

Multiple Choice

The five basic entities that make up any business are suppliers, customers, employees, products and services, and:

• A)its environment.
• B)manufacturing and production.
• C)sales and marketing.
• D)invoices and payments.

---

Definitions:

Inventory

The total amount of goods and materials held in stock by a business, warehouse, or point of sale.

Returns

The process of returning purchased goods to the seller for a refund, replacement, or credit, typically due to dissatisfaction or defects.

Tangibles

Physical items or products that can be seen, felt, or touched, as opposed to services or digital products.

Synonymous Terms

Words or phrases that have nearly the same meaning or significance.