Professors at Most Universities Are Highly Encouraged to Participate in Community

question 151

Multiple Choice

Professors at most universities are highly encouraged to participate in community service.What organization that provides low-cost courses and workshops would welcome management professors with an interest in small companies?

• A) FDIC
• B) FDA
• C) SBA
• D) SCORE
• E) SBI

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Definitions:

Inventory

The complete list of items such as goods, property, and raw materials a company holds for the purpose of resale or repair.

Credit Memo

A document issued by a seller to a buyer, reducing the amount owed by the buyer to the seller, typically due to a return or an overcharge.

Gross Profit

Revenue minus the cost of goods sold (COGS), representing the profit a company makes after deducting the costs associated with making and selling its products.

Discount Period

A set time period during which a discount is available, or the period between the issuance of a bill and its payment due date where a discount may be taken for early payment.