Profit and Loss
The focus of a business of any kind is to make a
Revenue is the amount of money your business
makes before you subtract the costs.
Profit is the money you take home after you
Have paid all of the expenses for the business.
Refer to Figure 3-2. An increase in the price of the product would be
represented by a movement from
A. S2 to S1.
B. A to B.
C. B to A.
D. S1 to S2.
Refer to Figure 3-2. An incre
Goal 5 Review Answers
a) Dh 190.31 ' b) Dh 147.59 c) Dh 24.66 d) Dh 33.75
a) 236 days b) 269 days c) 309 days d 474 days
Dh 36 112.85
. a) Dh 270
12. Die 133 255.88 (if calcuiated using 9 mon
1. Find the interest'that a bank will charge on the following loans:
(3) Dh 16 000 at 7% p.a. simple interest for 2 years.
(b) Dh 4250 at 8% p.a. simple interest for 9 months.
(c) Dh 3500 at 6% p.a. simple interest for 90 days.
(d) Dh 875
Statement presents the revenues
and expenses resulting net income or loss
for a specific period of time.
Owners Equity Statement summarizes the
changes in owners equity
Formal written statement of managements plans for a
specified future time period, expressed in financial
Primary way to communicate agreed-upon objectives
to all parts of the company.
Refer to Figure 11-1. If the firm is producing 200 units,
A. it is making a loss.
B. it should cut back its output to maximize profit.
C. it should increase its output to maximize profit.
D. it bre
Compound interest is when the interest earned
at the end of a first interest period is added to
In the next period, you find the interest of the
first periods principal + interest.
Find the amount of interest ear
Part One Defining the Managers Terrain
QUICK LEARNING REVIEW:
LEARNING OUTCOME 1.2
Explain why efficiency and effectiveness are
important to management.
Go to page 19 to see how well you know this material.
When you borrow money from the bank, the
bank charges you for the privilege of using its
This charge is called interest and it is usually
calculated as a percent of the amount
On the other hand, if you keep money in the
Simple Percentage Word
took a math
a) What percentage of
students got an A?
100 % - 40% = 60%
Write the fraction first.
Introduction to Statistics
What is statistics?
Organizing and analyzing data
Drawing conclusions from data
They could test all of the boxes
A company produces a
boxes of cereal per day. It
Changing Fractions to Decimals
Do you remember how to change a fraction to a decimal?
4 5 = 0.8
3 5 = 0.6
Top divided by bottom.
Do you remember how to
round decimal numbers?
Change the follo
Chapter One Introduction to Management and Organizations
WHAT IS MANAGEMENT?
Simply speaking, management is what managers do. But that simple statement
does not tell us much does it? A better explanation is that management involves
The Basic Accounting Equation
Provides the underlying framework for recording and
summarizing economic events.
Assets are claimed by either creditors or owners.
Claims of creditors must be paid before ownership claims.
What is culture?
Language: the oldest human institution and the most sophisticated medium of expression.
Arts & Sciences: the most advanced and refined forms of human expression.
Thought: the ways in which people perceive, interpret, and understand the wo