Explain Why Management's Philosophy and Operating Style Are Considered to Be

question 74

Essay

Explain why management's philosophy and operating style are considered to be the most important element of the internal environment.

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Definitions:

Outstanding Checks

Checks that have been written and recorded in a company's financial records but have not yet been cashed by the recipient.

Balance Per Company's Records

This refers to the amount shown in a company's financial records or accounting books.

Balance Per Books

The ending balance in a company's accounting records for a specific account.

Notes Collected

Receipts from the collection of promissory notes, representing cash inflows from financial claims against others.