Better Business Economics and Banking 1) The main function of economics is to study ________. A) the exchange of goods and services between individuals, businesses, and nations B) the exchange of cultural information in a diverse society C) the stock exchange D) the exchange of diplomatic relations between nations E) the exchange of ideas about motivation and behavior in the workplace Answer: A Explanation: A) Economics is the study of how individuals and businesses make decisions to best satisfy wants, needs, and desires with limited resources. It is about businesses making goods or supplying services that we want or need…
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Analysis of Financial Statements 1. The income statement measures the flow of funds into (i.e. revenue) and out of (i.e. expenses) the firm over a certain time period. It is always based on accounting data. a. True b. False ANSWER: True 2. The balance sheet is a financial statement measuring the flow of funds into and out of various accounts over time while the income statement measures the progress of the firm at a point in time. a. True b. False ANSWER: False 3. An increase in an asset account is a source of cash, whereas an increase in a…
Basic Cost Management Concepts The cost management information system is primarily concerned with producing outputs for internal users using inputs and processes needed to satisfy management objectives. True False ANSWER: True The Financial accounting information system provides information for three broad objectives: costing services and products, planning and control, and decision making. True False ANSWER: False The value chain is the set of activities required to design, develop, produce, market, deliver and provide post-sales service for the products and services sold to customers. True False ANSWER: True Cost management information benefits production, marketing, and customer service systems as well as…
1. Prepare a critical analysis of the statement of cash flows in the Form 10K report for the company that you selected for the Company Analysis Project. Using actual financial data, explain the strengths and weaknesses of the company’s cash flows over the past (most recent) 3 years? 2. Calculate the most important cash flow ratios for the company that you selected for the Company Analysis Project for the past 3 years and compare the ratios to the firm’s principal competitors? What strengths and weaknesses are noted in the analysis? 3. For the company that you selected for the Company…