Which of the Following Financial Actions Should Be Made on a Monthly

question 21

Multiple Choice

Which of the following financial actions should be made on a monthly basis by a small business manager?

• A) check your cash balance on hand
• B) note especially slow-paying accounts
• C) calculate payroll
• D) review your income statement

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Definitions:

Opportunity Cost

The cost of foregone alternatives, or what is given up in order to pursue a certain action or decision.

Budget

An estimate of income and expenditure for a set period, often used by governments, businesses, and individuals to plan financial operations.

Bananas

A staple fruit globally known for its yellow peel and soft, sweet flesh, often grown in tropical regions.

Productive Resources

The inputs used in the production of goods and services, typically classified as land, labor, capital, and entrepreneurship.