To Be Successful in Business,you Should

question 38

Multiple Choice

To be successful in business,you should:

• A)avoid changes.
• B)handle all aspects of your business yourself.
• C)keep an eye on competitors.
• D)become a specialist in one particular area of business.

Describe the characteristics of motivational goals and the concept of goal orientation, including its types.

Understand the importance of choosing the right banker or lender, and the role of a good banker.

Recognize the legal liabilities and responsibilities of directors and officers in a company.

Identify strategies for marshaling resources, including bootstrapping.

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Definitions:

NPV Project

A project evaluated using the Net Present Value method, which calculates the present value of all cash flows associated with the project, minus the initial investment.

Straight-Line

A method of calculating depreciation of an asset which assumes the asset will lose an equal amount of value each year over its useful life.

Discount Rate

The interest rate used to discount future cash flows to their present value.

Tax Bracket

A range of incomes taxed at a specific rate; tax brackets result in a progressive tax system, where taxation progressively increases as income grows.