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EOPA SBlake3

Entreprenuership

QuestionAnswer
What is the study of increasing resources and creating conditions that will make them more useful? Resource Development
How does capitalism create a climate for economic growth? Business people mostly work for their own prosperity and growth
Invisible Hand is beneficial by how it? Helps the economy grow and prosper through the efforts of improving their own situation in life
What is a Long-Term Liability? The financial obligation that will take the business more than one year to repay
What are Accrued Taxes? Taxes built up over time, unpaid taxes
What are Accrued Salaries? Salaries paid for after the service has been performed, including future bonuses
Why is Fixtures important? It is a policy that states a part of a building that cannot be moved, such as lights; personal property securely attached to real estate
What is usage of Factoring? It is used for outside companies to recover debts by obtaining funding by selling accountable receivable
What is Liquidity Ratio? The measures of the ability to turn assets into cash to pay short-term debts
What does the Activity Ratio measure? The effectiveness of the use of resources from an operational point of view
Created by: Nique14