Part 8 - Test 1236 Flashcards
1
Q
“S” corporation
A
Passes income, losses, deductions and credits directly to shareholders
2
Q
Collection letter
A
A letter to let customers know abt unpaid payments
3
Q
Sustainability report
A
A report indicating a business’s performance by evaluating its impact on economy, environment, and society
4
Q
Factors to evaluate before loaning
A
1) Employment status, 2) current income, 3) debt ratio, 4) liquid assets, 5) credit history + credit score
5
Q
Point of sale fraud
A
Fraud trying to cheat out money from a business at the time of purchase
6
Q
Enterprise risk management (ERM)
A
Comprehensive risk manangement strategy, involves planning for both physical and business risks + deternmining response
