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Identify the reasons for keeping business records

Quiz by Math-sygnsh Peralta

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20 questions
Show answers
  • Q1
    What is one reason for keeping business records?
    To discourage employee turnover
    To enhance customer relations
    To reduce marketing costs
    To track financial performance
    30s
  • Q2
    Why is it important to keep accurate inventory records in a business?
    To develop new marketing strategies
    To prevent stockouts and overstocking
    To cut operational costs
    To increase employee salaries
    30s
  • Q3
    What is a key benefit of maintaining employee records in a business?
    To manage payroll and benefits
    To improve customer feedback
    To increase product prices
    To expand the business location
    30s
  • Q4
    Why should businesses keep records of their sales transactions?
    To analyze sales trends
    To lower their taxes
    To create more employees
    To increase product recalls
    30s
  • Q5
    What is one reason for keeping receipts and invoices in a business?
    To promote new products
    To support financial audits
    To increase storefront size
    To hire more staff
    30s
  • Q6
    What is an important reason for maintaining customer records in a business?
    To limit product availability
    To increase production costs
    To decrease employee benefits
    To enhance customer service
    30s
  • Q7
    Why is it crucial for businesses to document their operating expenses?
    To hire more consultants
    To avoid employee training
    To increase sales prices
    To create accurate budgets
    30s
  • Q8
    What is one advantage of keeping business records for tax purposes?
    To reduce employee hours
    To ensure compliance with tax laws
    To simplify product design
    To increase product advertising
    30s
  • Q9
    Why is it beneficial for businesses to maintain detailed financial records?
    To lower workforce productivity
    To monitor cash flow
    To hire better management
    To improve product design
    30s
  • Q10
    Why do businesses keep records of their marketing activities?
    To measure the effectiveness of campaigns
    To reduce customer inquiries
    To increase product prices
    To eliminate competition
    30s
  • Q11
    What is one benefit of maintaining organized business records?
    Decreased product quality
    Improved decision-making
    Increased social media followers
    Longer working hours
    30s
  • Q12
    What purpose do business records serve during tax season?
    They are used for advertising
    They are discarded after a year
    They allow hiring more employees
    They help ensure accurate tax filings
    30s
  • Q13
    How do business records assist in securing loans?
    They demonstrate financial stability
    They limit product offerings
    They reduce employee salaries
    They increase customer complaints
    30s
  • Q14
    What role do business records play in tracking performance?
    They provide data for evaluating success
    They distract from daily operations
    They are only important for larger companies
    They are only used for tax audits
    30s
  • Q15
    What is a key reason for keeping customer records in a business?
    To decrease employee morale
    To improve customer service
    To eliminate marketing efforts
    To increase production costs
    30s

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