Business Refers to

question 242

Multiple Choice

Business refers to

• A)the daily operations necessary for a firm or organization to remain viable.
• B)transactions required in order for a company to make a profit.
• C)the clear, broad, underlying industry or market sector of an organization's offerings.
• D)the collaborative efforts of a firm or organization to participate in commerce whether for profit or to serve society.
• E)the goals and objectives of a firm and the strategies and tactics that will allow them to achieve those goals.

Grasp the concept and necessity of adjusting entries in the preparation of accurate financial statements.

Gain knowledge of the use of worksheets in the accounting process for preparing financial statements and adjusting entries.

Understand how to calculate and interpret the effects of accounting adjustments on the adjusted trial balance and financial statements.

Understand the types of funds used in governmental accounting and their purposes.

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Definitions:

Atomic Element

A pure chemical substance consisting of one type of atom distinguished by its atomic number, which is the number of protons in its nucleus.

Electrical Conductivity

A measure of how well a material allows the flow of electric current through it.

Valence Shell

Outermost orbital shell in an atom. The number of electrons in the valence plays a role in defining the electrical and physical characteristics of an element.

Chemical Properties

Characteristics of a substance that dictate how it reacts with other substances to form new products.