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BA105 Exam Questions with All Correct Answers
revenue - Answer-incoming money 
Expenses - Answer-the costs of operating a business 
profit - Answer-The financial gain made in a transaction 
Calculating Gross Profit - Answer-net sales - cost of goods sold 
Calculating Net Income - Answer-Revenues - Expenses 
Good vs. Service economy - Answer-economies shift over time from goods to services, 
we are more of a service world 
Marketing - Answer-works to identify and satisfy customers' needs. 
managment - Answer-planning, organizing, staffing,...
- Exam (elaborations)
- • 5 pages •
revenue - Answer-incoming money 
Expenses - Answer-the costs of operating a business 
profit - Answer-The financial gain made in a transaction 
Calculating Gross Profit - Answer-net sales - cost of goods sold 
Calculating Net Income - Answer-Revenues - Expenses 
Good vs. Service economy - Answer-economies shift over time from goods to services, 
we are more of a service world 
Marketing - Answer-works to identify and satisfy customers' needs. 
managment - Answer-planning, organizing, staffing,...