BML Final Set 16: Question Preview (ID: 9561)


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Which of these is an uncontrollable risk?
a) driving b) fire c) earthquake d) loss from poor accounting
A risk that involves possible injury to your health is a
a) property risk. b) liability risk. c) personal risk. d) non-economic risk.
A risk that involves possible injury to someone else's health or property from your actions is a
a) property risk. b) liability risk. c) personal risk. d) non-economic risk.
A risk that involves possible damage to an item that you own is a
a) property risk. b) liability risk. c) personal risk. d) non-economic risk.
A risk that involves injury to your ego or reputation is a
a) property risk. b) liability risk. c) personal risk. d) non-economic risk.
The first step of the CPI process is to
a) improve process quality. b) involve all employees. c) select measurement tools. d) set goals.
Laws protect consumers from all of these unfair business practices EXCEPT
a) false advertising. b) deceptive packaging. c) misleading labeling. d) products becoming out-of-date too quickly.
A cash flow statement
a) only reflects income, not expenses. b) helps you develop and determine budget categories. c) is made after the budgeting process is complete. d) reflects all liquid assets.
Which of these is not generally a goal of a business budget?
a) Determining sources and amounts of income. b) Rewarding investors with any profits. c) Determining how to distribute income to cover expenses. d) Convincing suppliers to accept reduced payments to help the business avoid financial losses.
The first step of the budgeting process is to
a) gather financial information. b) calculate all types of incomes and expnses to determine if there is a net profit or loss. c) prepare a list of all types of incomes and expenses that are part of the budget. d) explain the budget to individuals who make financial decisions.
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