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MM Unit 6
Finance and Risk Management
| Question | Answer |
|---|---|
| Sales for which the company has not yet been paid | Accounts receivable |
| Things a business owns | Assets |
| A description of the type and amount of assets, liabilities, and capital in a business on a specified date | Balance sheet |
| A detailed projections of financial performance for a specific time period usually one year or less | Budget |
| A risk that can be reduced or avoided by actions you take | Controllable risk |
| a risk that is caused by the uncertainty of market forces, economic trends, and politics | Economic risk |
| A detailed summary of the financial performance for a business or a part of a business | Financial statement |
| A risk that arises because of the potential actions of individuals, groups, or organizations | Human risk |
| A legal responsibility for loss or damage | Liability |
| A risk caused by the unpredictability of nature such as the weather | Natural risk |
| All costs associated with business operations | Operating expense |
| The money received from the sale of products and services | Revenue |
| The possibility that a loss can occur as the result of a decision or activity | Risk |
| Includes providing security and safety for products, personnel, and customers as well as reducing the risk associated with marketing decisions and activities | Risk management |
| A risk for which a persons actions do not affect the result | Uncontrollable risk |
Created by:
kweenbee30
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