What are the four most common business functional areas and what is the basic responsibility of each?
What will be an ideal response?
Marketing: responsible for selling and advertising products and services
Operations/production: responsible for providing a service/making a product
Finance/accounting: responsible for obtaining the necessary funds and investments and for keeping records of sales and expenses and determining profitability
Human resources/personnel management: responsible for forecasting future employee needs and for recruiting, selecting, evaluating, and compensating employees
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Which of the following represents the correct sequence of the three business activities on the Statement of Cash Flows?
a. Financing - Operating - Investing b. Investing - Operating - Financing c. Operating - Investing - Financing d. Financing - Investing - Operating
Assume that during the physical count of the inventory of a large corporation for this year, $450,000 of merchandise was counted twice. The error was not detected, and the financial statements were prepared. Identify the individual statements that would be affected and explain the effect the count error would have on each. (Omit income tax considerations.)
Withholding information is most likely:
A) another name for reciprocity B) legal and always ethical C) only unethical if done under duress D) the only logical course of action E) similar to lying in some cases
The first generation of computers was characterized by ____________________ tubes, and the second generation of computers was characterized by ____________________.
Fill in the blank(s) with the appropriate word(s).