Scope and Objectives of Business
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Questions and Answers

What is the scope of business?

  • The range of activities involved in running a business (correct)
  • The marketing strategies used by a business
  • The financial performance of a business
  • The legal structure of a business entity

    • What is the primary objective of a business?

  • Maximizing profit and shareholder wealth (correct)
  • Minimizing competition from other businesses
  • Providing employment opportunities
  • Contributing to social welfare

    • What does 'उद्देश्य' refer to in the context of business?

  • Customer satisfaction measures
  • Financial audits and compliance
  • Market trends and analysis
  • Objectives or goals (correct)

    • What is the purpose of preparing a bank reconciliation statement?

    <p>To identify discrepancies between the company's records and the bank statement</p> Signup and view all the answers

    What causes a difference between the balance shown in the company's records and the bank statement?

    <p>Outstanding checks and deposits</p> Signup and view all the answers

    When preparing a bank reconciliation statement, what does a 'deposit in transit' refer to?

    <p>Deposits made by the company but not yet appearing on the bank statement</p> Signup and view all the answers

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