The Strategic-Management Process

question 46

Multiple Choice

The strategic-management process

• A) occurs once a year.
• B) is a semiannual process.
• C) is a continuous process.
• D) applies mostly to companies with sales greater than $100 million.
• E) applies mostly to small businesses.

---

Definitions:

Accounting Equation

The accounting equation is a fundamental principle of accounting representing the relationship between assets, liabilities, and owner's equity (Assets = Liabilities + Owner's Equity).

Received Cash

Funds that are taken in by the company, often from transactions such as sales, loans, or investments.

Business Entity

An organization created by one or more individuals to engage in business activities, structured as corporations, partnerships, sole proprietorships, or other forms.

Borrowed Money

Funds that an individual or entity has received from another party under the condition that it is to be repaid, typically with interest, at a later date.