Effectuation

question 41

Multiple Choice

Effectuation:

• A) is driven by goals and planning
• B) is driven by resources and actions

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Definitions:

Cash Register Tapes

Physical records produced by cash registers, documenting transactions completed.

Refund Liability

An obligation to return funds to customers, recorded as a liability on the balance sheet, reflecting the company's expectation to refund some portion of sales.

Defective Merchandise

Products that fail to meet quality standards, often leading to returns, exchanges, or adjustments.

Discount Period

The timeframe during which a discount is available or when a bill can be settled at less than its face value.