BUSINESS AND MANAGEMENT – SHORT QUESTIONS AND ANSWERS 2024 SERIES 4
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Business and Management
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Business And Management
Unlock your potential with our comprehensive collection of business and management questions and answers! This essential guide covers a wide range of topics, from strategic acquisitions like Facebook’s $19 billion purchase to key financial concepts such as amortization and depreciation. Dive int...
BUSINESS MANAGEMENT – SHORT QUESTIONS AND ANSWERS 2024 SERIES 4
1.
Question: Name the business that Facebook bought for $19bn in 2014?
A. FaceBook
B. WhatsApp
C. SnapChat
D. SnapDeal
Correct Answer: B. WhatsApp
Explanation: In 2014, Facebook acquired WhatsApp for a whopping $19 billion. This purchase was a
strategic move by Facebook to expand its reach in the messaging app market and gain access to
WhatsApp's large user base. WhatsApp, a popular messaging platform, allows users to send text
messages, make voice and video calls, and share media files. This acquisition helped Facebook
strengthen its position in the social media industry and tap into the growing mobile messaging market.
2.
Question: Name the term used for depreciating a company's intangible assets?
A. Amortization
B. Accruals
C. Appreciation
D. Amalgamation
Correct Answer: A. Amortization
Explanation: Amortization is the correct answer because it refers to the process of gradually reducing
the value of intangible assets over time. Intangible assets, such as patents, copyrights, and trademarks,
are not physical in nature but still hold value for a company. Amortization allows companies to allocate
the cost of these assets over their useful life, reflecting their diminishing value. This helps to accurately
represent the asset's value on the company's financial statements. Accruals, appreciation, and
amalgamation are not related to the depreciation of intangible assets, making them incorrect choices.
3.
Question: Which of the following taxes is a progressive tax?
A. Sales Tax
B. Income Tax
C. Value Added Tax
D. Service Tax
Correct Answer: B. Income Tax
Explanation: Income tax is a progressive tax because it is based on the taxpayer's income level. The
tax rate increases as the income increases, resulting in higher-income individuals paying a higher
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