To Determine Its Opportunities and Threats, a Firm Should Focus

question 73

True/False

To determine its opportunities and threats, a firm should focus on internal processes and capabilities.

---

Definitions:

Bank Reconciliation

The process of comparing and aligning a company’s financial records with those shown in its bank statement to ensure accuracy and completeness.

Bank Service Charges

Fees charged by banks for accounts and various banking services, such as monthly maintenance or transaction fees.

NSF Checks

Checks that cannot be processed due to insufficient funds in the account on which they are drawn.

Petty Cash Fund

A minor sum of money maintained in reserve for completing instant transactions for various minor costs.