Which of the Following Is a Fundamental Principle of Business

question 43

Multiple Choice

Which of the following is a fundamental principle of business process management?

• A) Process improvements must be monitored.
• B) Companies should never use external consultants.
• C) Deal with objections as soon as they arise.
• D) If you don't know where you're going, any road will take you there.

Understand the role of transactions in affecting a company's financial status.

Differentiate between various types of payments and financial activities within a business.

Understand the components that make up a balance sheet or statement of financial position.

Calculate and interpret net income.

---

Definitions:

Marketers

Professionals who are involved in the promotion, distribution, and selling of products or services, aiming to fulfill customer needs and wants.

Economic Downturn

An economic downturn is a period when economic activity and performance decline, marked by reduced industrial production, unemployment, and a fall in spending.

Clothing Allowance

A sum of money given to cover the cost of clothing, often as part of a job requirement or allowance.

Purchase Discount

A reduction in price offered to buyers, often as an incentive to make a purchase within a specific timeframe or in larger quantities.