A Small Business Is Defined as One That Is Independently

question 4

True/False

A small business is defined as one that is independently owned, operated, and financed; has fewer than 100 employees; engages in innovation marketing practices; and has relatively little impact on its industry.

---

Definitions:

Financial Audit

An objective examination and evaluation of a company's financial statements to ensure they are accurate and comply with accounting standards.

Action Plan

A detailed strategy outlining the steps, resources, and timeline needed to achieve specific goals or objectives.

Tactical Plan

A short-term, specific plan that outlines actions, resources, and timelines to achieve a part of a strategic goal.

Caveat Emptor

This Latin phrase means "let the buyer beware," implying that the buyer assumes the risk for the quality and condition of goods purchased unless they are protected by warranty.