The Document That Assists an Entrepreneur and the Management Team

question 59

Multiple Choice

The document that assists an entrepreneur and the management team focus on important issues and activities is

• A) the organization chart.
• B) the budget.
• C) the sales analysis.
• D) the business plan.

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Definitions:

Industry Knowledge

Specific insights, expertise, and information relevant to a particular sector or industry.

Auditor's Opinion

A statement included in an auditor's report that expresses the auditor’s independent and professional opinion on the fairness and accuracy of a company’s financial statements.

GAAP

Generally Accepted Accounting Principles, a collection of commonly-followed accounting rules and standards for financial reporting that companies in the U.S. must adhere to.

Financial Reports

Documents that present a company's financial performance and position, typically including the balance sheet, income statement, and cash flow statement.