Carlos Is a Manager of a Company

question 27

Essay

Carlos is a manager of a company. He tries to spot problems before they happen. He looks for ways to make the company more efficient. He anticipates the possible consequences of different options. And he is always alert for ways to do things differently if the changes will benefit the company. Given this information, describe the positive critical thinking habit of mind that Carlos possesses.

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Definitions:

Accounting Period

A specific period of time for which financial activities are recorded and reported, such as a month, quarter, or year.

Withdrawals

Withdrawals indicate the amount of money or assets taken out from a business by its owner(s) for personal use.

Business Expenses

Costs incurred in the ordinary course of business, including salaries, utilities, and rent.

Income Statement

A financial report that shows a company's revenues and expenses over a specific period, culminating in the net income or loss for that period.