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EOPA JMeeks1

Entrepreneurship

QuestionAnswer
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
Created by: jazlynedria
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