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BM 2 obj 1.01 SM-400

Unit 1 BM 2

TermDefinition
Audit Process by which an organization's accounts and records are verified
Balance sheets A financial statement that captures the financial condition of the business at that particular moment
Break-even analysis The process of determining the level at which revenues equal total costs
cash flow analysis The process of determining the amount of cash a business has to work with at any given time
concurrent controls Mechanisms used to monitor the regulate a task, activity, or performance while its occurring
controlling The management function that monitors the work effort
feedback controlls Mechanisms used to monitor the regulate a task, activity, or performance after it has already occurred
feedforward controls Mechanisms used to monitor the regulate a task, activity, or performance before it occurs
financial ratio The comparison of two numbers from a business's financial statement; used as a tool by businesses to see relationships between dollars, numbers, and percentages
Financial statements Records that show a business's financial activities
guarantee A promise made to the consumer that a product's purchase price will be refunded if the product is not satisfactory; often called a money-back guarantee
motivaate prompt another person to take some kind of action
ROI Net profit divided by investment or the "bottom line" on how successful an ad or campaign was in terms of what the returns were for the money expended
sustainability The successful long-term management of an organization's financial, social, and environmental risks, opportunities, and obligations
test marketing the process of introducing a new product to a limited market to determine what its acceptance will be
warranty A promise made by the seller to the consumer that the seller will repair or replace a product that does not perform as expected
Created by: jayden.b465
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