What Does "Retrenchment" Mean in Terms of Business Strategy

question 185

Short Answer

What does "retrenchment" mean in terms of business strategy?
A change in the mission for the organization
Ceasing to do business
Cutting back some operations
An increase in the market share for two or more products
Growth at a modest rate

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Definitions:

Recording Process

The act of documenting financial transactions systematically in the books of accounts of a business.

Journal

An elaborate log that captures every financial transaction of an enterprise, initially entered prior to its transfer to the accounts within the general ledger.

Ledger

A comprehensive collection of accounts that records all financial transactions of a business, serving as the principal book for accounting.

Trial Balance

An accounting report that lists the balances of all ledger accounts to ensure that debits equal credits, used for internal checks.