A Condensed Abstract of a Business Plan Used to Spark

question 60

Multiple Choice

A condensed abstract of a business plan used to spark reader interest and to highlight critical information is called a/an ______.

• A) business plan
• B) strategic plan
• C) executive summary
• D) code of ethics

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Definitions:

Winding Down Phase

The winding down phase is the period during which business operations are gradually ceased, and the final affairs of a business are concluded.

Collecting Assets

The process of identifying, gathering, and managing the assets of a debtor to satisfy claims during bankruptcy or liquidation.

Taking Inventory

The process of counting and listing items in stock, typically done periodically to control stock levels and assist in financial accounting.

Winding Up Process

The procedure of settling the accounts and liquidating the assets of a company for the purpose of distributing the net assets to shareholders and dissolving the business.