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Question 2. Question : (TCO 1) Which of the following statements is
true regarding business mindset?
It involves seeing the business from the outside in.
It is incompatible with corporate responsibility.
It involves appreciating the challenges a company faces in satisfying
customer needs.
It involves acknowledging that businesses always benefit society.
It involves ignoring one's customer experiences.
Question 3. Question : (TCO 1) _____ audit the financial reports of
public companies as required by law.
Internal accountants
External auditors
Credit managers
Management accountants
Question 4. Question : (TCO 1) Which of the following is a
characteristic feature of economic contraction?
Decreased unemployment rates
Decreased consumer spending
Increased income
Increased employment
Question 5. Question : (TCO 1) Inflation is a major concern for
consumers, businesses, and government leaders, because it _____.
is a precursor to recession
decreases the purchasing power of consumers