[BA 101] - Final Exam Guide - Everything you need to know! (35 pages long)

• School: University of Oregon
• Department: Charles H. Lundquist College of Business
• Course: BA 101
• Professor: Dusseau

Document Summary

Read chapter 3: accounting: a business information system (pages 61-79) Answer account concept questions from chapter 3 material. Only will exchange when you are made better off (wealth) Competition to be a part of exchanges result in: Pressure for more efficient ways to do things. Need to understand how systems work (basic principles) Uncertainty not knowing how the market will respond. All decisions will have an outcome in the market good or bad. Accounting is a language that measures the economic consequences of choice. To deal with uncertainty and risk in competitive markets, managers rely on. Design the product / service that will meet needs of the market. Marketing knowing my customers and determining how to serve them best. Production building quality products at lowest possible cost. Finance arrange for the tools and money necessary to meet company goals. Administrative determining who the company is / what i want to accomplish.