Business Fundamentals

Question 1

what is appropriateness in relation to business fundamentals

Answer 1

Is the principles relevant to the business

Question 2

what is validity in relation to business fundamentals

Answer 2

Do the policies have real purpose and meet requirements

Question 3

what is relationship in relation to business fundamentals

Answer 3

Connection you make with the two parties

Question 4

what is relevancy in relation to business fundamentals

Answer 4

The principles must be relevant to laws and regulations

Question 5

what is opportunity cost in relation to business fundamentals

Answer 5

the value of the option not taken when a business makes a decision.

Question 6

what is quality standards in relation to business fundamentals

Answer 6

Quality management standards are details of requirements, specifications, guidelines and characteristics that products, services and processes should consistently meet in order to ensure: their quality matches expectations

Question 7

what is control in relation to business fundamentals

Answer 7

Control in a business setting, or organizational control, involves the processes and procedures that regulate, guide, and protect an organization.

Question 8

what is control in relation to business fundamentals

Answer 8

helping clients make sure that their financial statements are accurate from start to finish by verifying records and accounting entries