Introduction to business chapter 1 review answers

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Introduction to business chapter 1

Assignments and Handouts. Exam and Chapter Review Questions. Professional Accounting Programs. Professional Accounting Degrees. BBB4M Powerpoints. BBB4M Strands. Unit 1 Role and Impact of Business. Unit 2 Entrepreneurship and Human Resources. Unit 3 Business elementor pods shortcode the Competitive Marketplace.

Unit 4 Personal Finance. Unit 1 Marketing Fundamentals. Unit 2 Marketing Mix. Unit 3 Trends in Marketing. Unit 4 - The Marketing Plan. Assignments for BTT McCord Museum. Unit 2 - The 20s and 30s. Unit 3 - WWII. Unit 4 - 50s to Present. Unit 1 WW1. Unit 2 20ss. Unit 3 WWII. Unit 4 s to present. CHC2P Assignments. Recent site activity. This course introduces students to the world of business.

Students will develop an understanding of the functions of business, including accounting, marketing, information and communication technology, human resources, and production, and of the importance of ethics and social responsibility. This course builds a foundation for further studies in business and helps students develop the business knowledge and skills they will need in their everyday lives.Each excel link will download the file containing a spreadsheet for the problem and a template worksheet on which you can prepare the solution electronically.

If you see a light bulb icon on a worksheet, just mouse over above the icon and a comment box will appear. The comments include useful suggestions for improving your spreadsheet skills. You may not post or redistribute, electronically or otherwise, any solution material. Violation of this policy constitutes a copyright violation. Alternative problems, with solutions, may be found at our partner website Bookboon. Video solutions to selected problems are available to students enrolling in the online course.

The pdf version of the solutions manual also includes links to the video solutions. You can purchase the solutions manual in the bookstore. Problems - Chapter 1. The economic resources owned by an entity; entailing probable future benefits to the entity. Generally accepted accounting principles -- encompass the rules, practices, and procedures that define the proper execution of accounting. Items acceptable to a bank for deposit and free from restrictions for satisfying current debts; includes coins, currency, bank deposits, etc.

A record that is kept for each asset, liability, equity, revenue, expense, and dividend component of an entity.

Visit the Bookstore. Definitions, concepts, and awareness of accounting. Impact of transactions on fundamental accounting equation. To drill on the articulation of the core financial statements. Accounting equation and entity types. Preparing financial statements and cash Items acceptable to a bank for deposit and free from restrictions for satisfying current debts; includes coins, currency, bank deposits, etc.

Basic cash flow analysis and statement of cash flows. Managerial Accounting. The Accounting Equation. Pay an Account Payable. Evaluating Changes in Retained Earnings and Equity. Statement of Cash Flows. Impact of Transactions on Financial Statements.Howard's Classes. Search this site. Assignments and Handouts. Exam and Chapter Review Questions. Professional Accounting Programs. Professional Accounting Degrees. BBB4M Powerpoints. BBB4M Strands.

Unit 1 Role and Impact of Business. Unit 2 Entrepreneurship and Human Resources. Unit 3 Business in the Competitive Marketplace. Unit 4 Personal Finance. Unit 1 Marketing Fundamentals. Unit 2 Marketing Mix.

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Unit 3 Trends in Marketing. Unit 4 - The Marketing Plan. Assignments for BTT McCord Museum. Unit 2 - The 20s and 30s. Unit 3 - WWII. Unit 4 - 50s to Present. Unit 1 WW1. Unit 2 20ss. Unit 3 WWII.

Unit 4 s to present. CHC2P Assignments. Recent site activity. They will not be an exact match for the "Accounting 1 Principles" book you are using as the content is presented in a slightly different order.

However the content in the end will be the same.Played times. Print Share Edit Delete. Live Game Live. Finish Editing. This quiz is incomplete! To play this quiz, please finish editing it. Delete Quiz. Question 1. All economic resources have a limited supply.

Things that are required in order to live are known as wants. Buildings, equipment and supplies are examples of natural resources. A person who buys and uses goods and services is called a consumer. Communism refers to the private ownership of resources by individuals rather than by the government.

What is the final step of the decision-making process? Who owns the economic resources in a market economy? Every nation must decide. Which of the following scenarios will probably cause prices to drop? A big snowstorm is approaching, and the only hardware store in town has just a few snow shovels left in stock. If everybody had an unlimited supply of economic resources, which of the following would not exist?

introduction to business chapter 1 review answers

People producing goods and services are called. The rivalry among businesses to sell their goods and services is known as. Which of the following is NOT an especially important principle of the U. Generally, as the price of a product increases. He decided to buy a new shirt instead of going to the amusement park with his friends.

John has. In the US, you can own anything you want and decide what you want to do with it, as long as it does not violate the law. This describes the principle of. In every nation on Earth. Another name for the economic system in the United States is. Which of the following is an economic need? Which is the first step in the decision-making process?

Which type of economy is usually centered mainly on meeting people's basic needs?To report a technical problem with this Web site, please contact the Web Producer.

Your Results: The correct answer for each question is indicated by a. Need a Hint? Search Search for:. Drawer speed:. Teacher Log In Log in here to access teaching material for this site. Username: Password:. The correct answer for each question is indicated by a. Which is NOT another word for ethics? Which might indicate that a company is run according to ethical standards?

Which is true of ethics in business? Which is NOT necessarily characteristic of a sweatshop? What is one result of the Triangle Shirtwaist fire? Which is NOT a consequence of unethical business practices? How might an employer treat an employee fairly?

Which is NOT a good way for an employer to handle a decision that leads to conflict of interest?

introduction to business chapter 1 review answers

Which is NOT an example of how you can be socially responsible? Who protects consumers from dangerous or falsely advertised goods? How are consumers affected when companies restrict competition? What group of workers are NOT necessarily protected by American law? What kind of responsibility does a business have to its owners and creditors? Why was the EPA formed? E-mail Your Results. Log out.Last Updated on March 3, by Admin.

The following are the questions exam answers. CCNA 1 v6. You can review all chapter 1 Exam Answers. Recommend From year to year, Cisco has updated many versions with difference questions.

The latest version is version 6. What is your version? It depends on your instructor creating your class. We recommend you to go thought all version if you are not clear. While you take online test with netacad. Each version have 1 to 10 different questions or more.

After you review all questions, You should practice with our online test system by go to "Online Test" link below. Not all options are used. From year to year, Cisco has updated many versions with difference questions. Posted on December 23, by Admin.

Version 5. Because network devices and dedicated servers are not required, peer-to-peer networks are easy to create, less complex, and have lower costs. Peer-to-peer networks also have no centralized administration. They are less secure, not scalable, and those devices acting as both client and server may perform slower.

A router is used to determine the path that the messages should take through the network. A firewall is used to filter incoming and outgoing traffic. A DSL modem is used to provide Internet connection for a home or an organization. Criteria for choosing a network medium are the distance the selected medium can successfully carry a signal, the environment in which the selected medium is to be installed, the amount of data and the speed at which the data must be transmitted, and the cost of the medium and its installation.

Applications on end devices generate data, alter data content, and are responsible for initiating the encapsulation process.

introduction to business chapter 1 review answers

End devices originate the data that flows through the network. Intermediary devices direct data over alternate paths in the event of link failures and filter the flow of data to enhance security. Network media provide the channel through which network messages travel. An extranet is a network area where people or corporate partners external to the company access data. An intranet simply describes the network area that is normally accessed only by internal personnel.

A college wireless LAN is most likely used by the tablet and smartphone. A wireless WAN would more likely be used by college students to access their cell provider network. Home users will go online shopping over the Internet because online vendors are accessed through the Internet.

An intranet is basically a local area network for internal use only. An extranet is a network for external partners to access certain resources inside an organization.

Chapter 1 Practice Test and Answer Keys

A home user does not necessarily need a LAN to access the Internet.You have to finish following quiz, to start this quiz:. You have reached 0 of 0 points, 0. What are three characteristics of a peer-to-peer network? Choose three. Because network devices and dedicated servers are not required, peer-to-peer networks are easy to create, less complex, and have lower costs. Peer-to-peer networks also have no centralized administration.

They are less secure, not scalable, and those devices acting as both client and server may perform slower. Which device performs the function of determining the path that messages should take through internetworks?

A router is used to determine the path that the messages should take through the network. A firewall is used to filter incoming and outgoing traffic. A DSL modem is used to provide Internet connection for a home or an organization. What two criteria are used to help select a network medium from various network media?

Choose two. Criteria for choosing a network medium are the distance the selected medium can successfully carry a signal, the environment in which the selected medium is to be installed, the amount of data and the speed at which the data must be transmitted, and the cost of the medium and its installation. Applications on end devices generate data, alter data content, and are responsible for initiating the encapsulation process. End devices originate the data that flows through the network.

Intermediary devices direct data over alternate paths in the event of link failures and filter the flow of data to enhance security. Network media provide the channel through which network messages travel.

introduction to business chapter 1 review answers

Which area of the network would a college IT staff most likely have to redesign as a direct result of many students bringing their own tablets and smartphones to school to access school resources? An extranet is a network area where people or corporate partners external to the company access data.

An intranet simply describes the network area that is normally accessed only by internal personnel. A college wireless LAN is most likely used by the tablet and smartphone. A wireless WAN would more likely be used by college students to access their cell provider network. An employee at a branch office is creating a quote for a customer.

In order to do this, the employee needs to access confidential pricing information from internal servers at the Head Office. What type of network would the employee access? Which two connection options provide an always-on, high-bandwidth Internet connection to computers in a home office? Which two Internet connection options do not require that physical cables be run to the building?

Cellular connectivity requires the use of the cell phone network. Satellite connectivity is often used where physical cabling is not available outside the home or business. Which term describes the state of a network when the demand on the network resources exceeds the available capacity? When the demand on the network resources exceeds the available capacity, the network becomes congested.

A converged network is designed to deliver multiple communication types, such as data, video and voice services, using the same network infrastructure. A method of limiting the impact of a hardware or software failure is fault tolerance. A measure of the data carrying capacity is bandwidth. A set of techniques to manage the utilization of network resources is QoS. A state where the demand on the network resources exceeds the available capacity is called congestion.

Cloud computing allows users to access applications, back up and store files, and perform tasks without needing additional software or servers. Cloud users access resources through subscription-based or pay-per-use services, in real time, using nothing more than a web browser. Powerline networking adds the ability to connect a device to the network using an adapter wherever there is an electrical outlet.