Make Sure Your Business Is Run in an Ethical Manner

question 2

Multiple Choice

Make sure your business is run in an ethical manner by ________.

• A) keeping accurate records and using financial controls
• B) never taking company profits just to pay yourself
• C) creating an advisory board
• D) All of the above.

Acquire skills to reconcile cash balances with bank statements or completion of check stubs.

Enhance mathematical skills specifically in addition and subtraction of monetary values in the context of business transactions.

Understand the concepts of markup based on selling price and how to compute it.

Understand the concepts of markup based on cost and how to compute it.

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Definitions:

Expenses

Expenses or the spending of resources or taking on of liabilities over time due to the delivery or production of goods, provision of services, or other actions that are central to the entity's primary operations.

Utility Expense

Costs incurred by a business or individual for utilities such as electricity, water, and gas.

Cash

Cash refers to company-held currency and bank account balances that are readily available for use.

Accounts Receivable

Money owed to a company by its clients or customers for goods or services that have been delivered but not yet paid for.