Describe business processes and their importance to an organization.
What will be an ideal response?
Business process modeling (or mapping) is the activity of creating a detailed flow chart or process map of a work process showing its inputs, tasks and activities, in a structured sequence. A business process model is a graphic description of a process, showing the sequence of process tasks, which is developed
for a specific purpose and from a selected viewpoint. A set of one or more process models details the
many functions of a system or subject area with graphics and text and its purpose is to: expose process
detail gradually and in a controlled manner; encourage conciseness and accuracy in describing the process
model; focus attention on the process model interfaces; provide a powerful process analysis and
consistent design vocabulary.
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An arrangement in which a third party promises to be primarily liable with the borrower for the payment of the borrower's debt is referred to as a(n) ________
A) garnishment B) accommodation C) surety arrangement D) guaranty arrangement
[The following information applies to the questions displayed below.]Seattle Company issued a $90,000 face value discount note payable to First Federal Bank on September 1, Year 1. The note had a 4% discount rate and a one-year term.What is the carrying value of the liability appearing on the December 31, Year 1 balance sheet?
A. $88,800 B. $80,400 C. $87,600 D. $90,000
According to Modigliani and Miller (MM)'s basic theory of capital structure, which of the following is considered when determining the value of a firm??
A. ?Tax deductible interests B. ?Personal income taxes C. ?Brokerage costs D. ?Bankruptcy costs E. ?Retained earnings
Which of the following is decreased with a credit?
A. Liabilities B. Assets C. Net Income D. Stockholders' Equity