A Small Business Is Defined by the U

question 58

Multiple Choice

A small business is defined by the U.S. Small Business Administration as employing fewer than

• A) 25 employees.
• B) 100 employees.
• C) 250 employees.
• D) 500 employees.

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Definitions:

Operating Expenses

Costs associated with running a business's day-to-day operations, excluding costs related to producing goods or services.

Inventory System

A system for tracking a company's goods and materials, managing the process of ordering, storing, and using the company's inventory.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board for global use.

Perpetual

A method of inventory management where updates are made continuously as transactions occur.