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EOPA JMeeks1
Entrepreneurship
Question | Answer |
---|---|
What is retained profit? | Reserves, the amount of profit which is kept back by a business for future investment |
What is bank debt? | Loan capital including also any overdraft (temporary negative balance) |
What is factoring? | Using an outside company to recover debts, obtaining funding by selling account receivable |
What do liquidity ratios do? | Measure the ability to turn assets into cash to pay short-term depts |
What is bookkeeping? | The activity of recording business transactions |
What is marketing? | The commercial processes involved in promoting and selling and distributing a product or service |
What do wholesalers do? | Obtain goods from manufacturers and resell them to industrial users, other wholesalers and retailers |
What are ledgers? | Books in which financial records are written |
What is a trial balance? | A summary of all the financial data in the account ledgers that ensures the figures are correct and balanced |
What are conceptual skills? | Skills that involve the ability to picture the organization as a whole and the relationship among its various parts |