True / False Questions 1. Businesses have the right to keep and use their profits as they choose, without limitations. FALSE Within legal limitations, businesses have the right to keep and use their profits as they choose. AACSB: Analytic Accessibility: Keyboard Navigation Bloom's: Remember Difficulty: 1 Easy Learning Objective: 01-01 Define basic concepts such as business, product, and profit. Topic: Definition of Business 2. Finance refers to all activities concerned with obtaining money and using it effectively. TRUE Finance refers to all activities concerned with obtaining money and using it effectively. Financial resources must be managed effectively if the business aims to succeed. AACSB: Analytic Accessibility: Keyboard Navigation Bloom's: Remember Difficulty: 1 Easy Learning Objective: 01-02 Identify the main participants and activities of business and explain why studying business is important. Topic: Definition of Business