The Concept That the Boss Does the Thinking and the Employee

question 80

True/False

The concept that the boss does the thinking and the employee does the work is still the most effective way to manage a small business.

---

Definitions:

Turnover Rate

The rate at which a company hires and separates employees, or the rate at which inventory or assets are replaced through sales.

Cost Of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials and labor costs.

Use Of Cash

A summary of how a company's cash is being utilized in operations, investments, and financing activities.

Accounts Payable

Represents money owed by a company to its creditors for goods and services purchased on credit.