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EOPA TMeiguez2
Entrepreneurship Pathway
| Question | Answer |
|---|---|
| What is Conceptual Skills? | Skills that involve the ability to picture the organization as a whole and the relationship among its various parts |
| What is Knowledge Management? | Finding the right information,keeping the information in a readily accessible place, and making the information known to everyone in the firm |
| What are Internal Customers? | Individuals and units within the firm that receive services from other individuals or units |
| What is a Trial Balance? | A summary of all the financial data in the account ledgers that ensures the figures are correct and balance |
| What is an Annual Report? | A yearly statement of the financial condition, progress, and expectations of an organization. |
| What is a Profit and Loss Account? | A financial statement showing revenue, expenditure and profit during a given period |
| Total sales(= revenue) generated during a month, quarter or year | P&L account Begins.. |
| Earnings (=profit / the bottom line) | P&L account Ends.. |
| What are COGS? (Cost of Goods Sold) | Manufacturing costs, wages of blue collar workers, transport costs etc |
| What are Operating Expenses? | Salaries of sales and office staff, marketing costs, rent etc= overheads |
Created by:
tsmeiguez
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