COMMON PRACTICES IN

BUSINESS ORGANIZATIONS
BUSINESS ETHICS
1.) _____ how a company encourages people to buy their
products, services or ideas.
2. Advertisers influence our _____ by techniques that include
stereotyping and targeting the audience according to who we
are.
3.) Give one type of advertising
4.) It is the process of recording all financial transactions to keep
track of cash flow.
5.) An accounting system under which every transaction is
recorded in a single line only.
6.) It is a formal record of the financial activities and position of a business.
a. Balance sheet b. Income statement c. Cash flow Statement d.
Financial statement
7.) It is a reports on company’s cash flow activities, particularly its
operating, investigating and financing activities.
a. Balance sheet b. Financial Statement c. Cash flow statement d. All of
the above
8.) A report on company's assets, liabilities, and owners equity of the
company during the stated period, also known as Equity statement.
a. Income statement b. Statement of changes in equity c. Balance sheet
d. Financial statement
9.) It is a company’s income, expenses, and profits over a period of time.
a. Income statement b. Balance sheet c. Financial statement d. Asset
10-11. Give two types of income statement
12.) An accounting system governed by rules which ensure that
each transactions that take place is reflected in two separate
accounts.
13.) An aspect of accounting which entails careful examination
of an individual or firm's financial records.
14.) It is the Comprehensive report on company's activities
throughout the preceding year.
15-17. Give at least 3 characteristics of annual report
18.) This is the public reporting of operating and financial data
by a business enterprise.
19-20. Give 2 example of enterprise reporting
TRUE or FALSE
21.) Owners and managers require financial statement to make
important business decisions that affect its continued operations.
22.) Prospective investors make use of financial statements to
assess the viability of investing in a business.
23.) Audit of financial statements is not required for investment,
financing, and tax purposes.
24.) Financial institutions (banks and other lending companies)
use them to decide whether to grant a company with fresh
working capital or extend debt securities to finance expansion
and other significant expenditure.
25.) GAAP stands for?