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EOPA ELawrence3

Entrepreneurship Pathway

QuestionAnswer
What is the process of preparing alternative courses of action that may be used if the primary plans don't achieve the organizations objectives called? Contingency Planning
What is Autocratic Leadership? Leadership style that involves making managerial decisions without consulting others
Leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives is called what? Free-Rein Leadership
What are ledgers? They are books in which financial records are written
What is a Profit And Loss Account? A financial statement showing revenue, expenditure and profit during a given period
The shareholder's claims on a company's assets after all of its creditors have been paid is known as? Shareholders´ Equity
What is Goodwill? Customers´ approval and support of a business (reputation, contacts and expertise of companies that have been bought)
Working Capital is the difference between what two things? Current assets and Current liabilities
A financial statement that shows the flow of money in and out of the business is known as? Cash Flow Statement
What are Convenience Goods? Inexpensive products that are purchased regularly and require little time and effort for purchase decisions.
Created by: elawrence17
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