​You Are Contemplating Starting a Business in the Next Few

question 47

Multiple Choice

​You are contemplating starting a business in the next few months.You have expertise in both goods-based and services-based businesses,but aren't sure which route to take.You are,however,determined to develop jobs for the small factory town in which you grew up. ​
Required:
Based on what you know about the U.S.business economy,which of the following approaches would you take?

• A)​start a goods-based business because the demand is higher
• B)​start a goods-based business because it is cheaper to maintain
• C)​start a services-based business because demand has increased exponentially
• D)​start a services-based business because such businesses are expected to account for 18 million new jobs by 2020
• E)​start a goods-based business because such businesses are expected to account for 35% of new job opportunities in the next 10 years

Recognize the importance and function of lists in QuickBooks Online (QBO) for inventory management.

Identify the payment methods available to customers in QBO.

Comprehend the process of recording bills and managing payments in QBO.

differentiate between invoices and other financial documents in QBO.

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Definitions:

Company's Management

The group of individuals who operate at various levels within a company and are responsible for making decisions, implementing strategies, and running day-to-day operations.

Interest Receivable

An accounting term referring to the interest income that has been earned but not yet received in cash.

Interest Revenue

Income earned from lending funds or investing in interest-bearing financial assets.

Retained Earnings

The portion of a company's profit that is held or retained and not paid out as dividends to shareholders, used for reinvestment in the business, to pay debt, or to buy back shares.