Write a Note on the Economic Factors That Influence the External

question 9

Essay

Write a note on the economic factors that influence the external business environment.

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Definitions:

Certificates of Deposit

Time-bound deposit offered by banks that pays interest to the depositor, with withdrawal of funds before maturity generally incurring penalties.

Internal Control

A process designed to ensure the reliability of financial reporting, effectiveness and efficiency of operations, and compliance with applicable laws and regulations.

Petty Cash Vouchers

Documents used to manage and record small, usually incidental, expenses paid out in cash from a designated petty cash fund.

Nontrade Receivables

Nontrade receivables are amounts owed to a company that are not related to the sale of goods or services, such as loans and advances given.