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BM2 OBJ 1.01 SM-400
Unit One BM II
Term | Definition |
---|---|
Audit | Process by which an organization's account and records are verified |
Balanced Sheets | A financial statement that captures the financial condition of the business at that particular moment (assets and liabilities) |
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 and regulate a task, activity , or performance while it is occurring |
Controlling | The management function that monitors the work effort |
Feedback control | Mechanisms used to monitor and regulate a task, activity , or performance after it has occurred |
feedforward control | Mechanisms used to monitor and regulate a task, activity , or performance before it occurs |
Financial ratio | The comparison of two number from a business financial statement: used as a tool by a business to see relationships between dollars, numbers , and percentages |
Financial statement | records that show a business financial activities |
Guarantee | A promise made to the consumer that a product purchase price will be refunded if the product not satisfactory: often called a money back guarentee |
Motivate | Prompt another person to take some kind of action |
Return on investment (ROI) | Net profit divided by investment or the bottom line on how successful an ad or campaign was in terms of what the returns( generally sales revenue) were for the money expended ( invested) |
sustainability | The successful long term management of an organization financial, social, and environment risk, 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 |