Questions from Business Foundation

Q: 1. List the five functions of an MIS. 2

1. List the five functions of an MIS. 2. What are the components of a typical business report? 3. What types of information could be illustrated in a visual display? In a tabular display?

Q: 1. What purpose do audits and GAAPs serve in today’s business

1. What purpose do audits and GAAPs serve in today’s business world? 2. How do the major provisions of the Sarbanes–Oxley Act affect a public company’s audit procedures? 3. Based on the information in...

Q: 1. How are current assets distinguished from fixed assets?

1. How are current assets distinguished from fixed assets? 2. Why are fixed assets depreciated on a firm’s balance sheet? 3. How do you determine the dollar amount of owners’ equity for a sole proprie...

Q: 1. What is the difference between a balance sheet and an

1. What is the difference between a balance sheet and an income statement? 2. Explain how a retailing firm would determine the cost of goods sold during an accounting period. 3. If a retailer has reve...

Q: 1. What is the purpose of the statement of cash flows

1. What is the purpose of the statement of cash flows? 2. In a statement of cash flows, what is included in the operating activities section? In the investing activities section? In the financial acti...

Q: 1. What are the benefits of comparing a firm’s current financial

1. What are the benefits of comparing a firm’s current financial information with information for previous accounting periods, with industry averages, and with financial information for competitors?...

Q: What is the purpose of market segmentation? What is the relationship

What is the purpose of market segmentation? What is the relationship between market segmentation and the selection of target markets?

Q: 1. For a business firm, what type of activities does

1. For a business firm, what type of activities does financial management involve? 2. To be successful, what traits and skills does an employee in the finance industry need?

Q: 1. How does short-term financing differ from long-

1. How does short-term financing differ from long-term financing? Give two business uses for each type of financing. 2. What is speculative production? How is it related to a firm’s cash-flow problems...

Q: 1. What is the function of a cash budget? A

1. What is the function of a cash budget? A capital budget? 2. What is the difference between equity capital and debt capital? 3. Describe the four sources of funds for a business. 4. How does a finan...