According to the Text, Changes in Demographics and Society, Technology

question 131

Multiple Choice

According to the text, changes in demographics and society, technology advances, and economic changes offer the best opportunities for which of the following?

• A) entrepreneurs
• B) not-for-profits
• C) educational institutions
• D) corporations

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Definitions:

Physical Count

A method used in inventory management to ensure the actual number of physical goods matches the recorded inventory.

Inventory

The raw materials, work-in-progress goods, and finished products that a business holds for the purpose of sale in the ordinary course of business.

Single-Step Income Statement

A simplified income statement that calculates net income or loss by subtracting total expenses from total revenues in one step.

Multiple-Step

An income statement format that segregates operating revenues and expenses from non-operating revenues, expenses, gains, and losses.