In the Context of Organizational Direction, the Term Business Refers

question 342

Multiple Choice

In the context of organizational direction, the term business refers to

• A) the daily operational decisions that must be implemented for an organization to remain viable.
• B) exchange transactions between seller and buyer in order for the seller to make sales and earn profits.
• C) the clear, broad, underlying industry or market sector of an organization's offering.
• D) an organization that develops an offering.
• E) the objectives of a firm and the strategies and tactics that will allow it to achieve them.

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Definitions:

Cash

Represents money or any instrument that banks accept for deposit and immediate credit to a company’s account, such as checks or money orders.

Expenses

Costs incurred by a business in the process of earning revenue, such as rent, salaries, and utilities.

Assets

Assets held by a business anticipated to deliver future economic advantages.

Expenses

Costs incurred in the process of earning revenue, including operational, administrative, and selling activities.