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ETS Business Exam Study Guide Questions & Answers 2023/2024 Accounting: What costs should be considered when making non-routine decisions? (3) - ANSWER-The price of material, Factory overhead costs, and the price of labor Accounting: Total product/ units produced and sold equals?? - ANSWER-Product Cost per Unit Accounting: What is a general explanation of what the contribution margin is? - ANSWER-The difference between variable costs subtracted from sales Accounting: In a continuou...

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True or False: The structure of the body is not related to function at all. Correct Answer-False The ______ level of organization consists of groups of similar cells that have a common function. Correct Answer-Tissue ______ includes all chemical reactions occurring within the cells of the body. Correct Answer-Metabolism Normal body temperature must be maintained for survival for what reason? Correct Answer-To provide the optimal temperature for chemical reactions to occur Water is ne...

What is the primary responsibility of FASB? Correct Answer-Developing GAAP What is the accounting equation? Correct Answer-Assets=Liability+Equity What is the definition of revenue? Correct Answer-Money earned from providing a product or service Is CoGS an expense? Correct Answer-Yes What is the primary objective of financial reporting? Correct Answer-To provide info for decision making What accounts are on the balance sheet? Correct Answer-Assets, liabilities, equity What acco...

CPU - part of computer that is the primary data processing component Microsoft Windows - most widely used operating system for personal computers Hard Drive - stores all software and files on the computer Database - software that stores organized data Software - tells hardware what to do file extension - 3 or 4 letters at the end of a file name after a period; tells characteristics and use of the file Bandwidth - amount of data that can be sent over a certain time period Peer to peer - 2...

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