In the Business World We Need to Be Able to Measure

question 73

Multiple Choice

In the business world we need to be able to measure ________ performance and predict ________ performance if we want to deliver positive results.

• A)past; future
• B)past; present
• C)present; future
• D)present; past

Identify the basic financial statements and their exclusions.

Describe how equity changes over a period of time.

Calculate liabilities when given assets and equity.

Recognize where cash investments by owners appear in financial statements.

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Definitions:

Absolute Advantage

The ability of a country, individual, or firm to produce a greater quantity of a good, product, or service than competitors using the same amount of resources.

Comparative Advantage

Comparative advantage is an economic theory that describes how an entity can produce goods at a lower opportunity cost than another, leading to efficient trading and increased economic welfare.

Editing

The process of preparing written material by correcting, condensing, or modifying it for publication or presentation.

Typing

The act of inputting text into a device, such as a computer or a smartphone, by pressing keys or using a virtual keyboard.