Having a Succession Plan Shows CEOs Are Preoccupied with the Future

question 92

True/False

Having a succession plan shows CEOs are preoccupied with the future and not focused on building a strong culture immediately.

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Definitions:

Note Collected

Refers to the receipt or collection of the amount due from a note receivable.

NSF Check

A check that has been returned by a bank because of insufficient funds in the account to cover the amount written on the check.

Outstanding Checks

Checks that have been issued and recorded by an entity but have not yet been cashed or cleared by the bank.

Petty Cash Fund

A small amount of cash kept on hand for minor or incidental expenses.