Solved by verified expert :41. Strategic
management is the process of determining the right mix of operating activities
for the type of organization, its plans, and its markets.
True False
42. Planning
activities are the means an organization uses to pay for resources like land,
buildings, and equipment to carry out its plans.
True False
43. Investing
activities are the acquiring and disposing of resources that an organization
uses to acquire and sell its products or services.
True False
44. Owner
financing refers to resources contributed by creditors or lenders.
True False
45.
Revenues are increases in equity from a company’s earning activities. True
False
1-6
Chapter
01 – Accounting in Business
46.
A net loss occurs when
revenues exceed expenses. True False
47.
Net income occurs when
revenues exceed expenses. True False
48.
Liabilities are the
owner’s claim on assets. True False
49.
Assets are the
resources of a company and are expected to yield future benefits. True False
50. Owner’s
withdrawals are expenses.
True False
