A Broad Statement That Defines the Organization's Purpose and Scope

question 87

Multiple Choice

A broad statement that defines the organization's purpose and scope is known as a

• A) strategic plan.
• B) mission statement.
• C) vision statement.
• D) values statement.
• E) value chain.

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Definitions:

Financial Statements

Reports that provide a summary of a company's financial performance and position, including balance sheet, income statement, and cash flow statement.

Proprietorship

Proprietorship, also known as a sole proprietorship, is a business owned and operated by one individual, where there is no legal distinction between the owner and the business entity.

Personal Assets

Assets owned by an individual, including property, cash, and investments, that are not associated with any business activities.

Total Liabilities

The sum of all financial obligations or debts that a company has incurred and is responsible for repaying.