Identifying and Evaluating Key Social, Political, Economic, Technological and Competitive

question 17

Multiple Choice

Identifying and evaluating key social, political, economic, technological and competitive trends and events comprise

• A) developing an effective mission statement.
• B) conducting an internal audit.
• C) performing an external audit.
• D) formulating strategy.
• E) implementing strategy.

---

Definitions:

Accounts Receivable Turnover

A financial ratio that measures how effectively a company collects on its credit sales by comparing net credit sales with the average accounts receivable.

Collection Of Receivables

The process businesses use to pursue payments from customers or clients who have purchased goods or services on credit.

Accounts Receivable

Money owed to a business by its clients or customers for goods or services that have been delivered or used but not yet paid for.

Short-Term Liability

Financial obligations due within a year, such as accounts payable, short-term loans, and other similar debts.