Operational Plans Are Usually ________

question 67

Multiple Choice

Operational plans are usually ________.

• A) short term, directional, and standing
• B) short term, specific, and standing
• C) long term, directional, and single use
• D) long term, specific, and standing

Understand the concepts of shaping and higher-order conditioning.

Understand the role and importance of business plans for entrepreneurs.

Recognize the importance of financial planning and awareness of funding sources for small businesses.

Understand the operational and legal foundations of various business structures including sole proprietorships, partnerships, and corporations.

---

Definitions:

Winding Up

The process of dissolving a company, involving liquidating assets to pay off creditors and distributing any remaining assets to shareholders.

Capital Account Balance

The net result of public and private international investments flowing in and out of a country, reflecting changes in ownership of national assets.

Net Income

The amount of profit a company generates after all expenses, taxes, and costs have been subtracted from total revenue.

Withdrawals

Amounts of money taken out from a business by its owner(s) for personal use.