Summative Quiz

Executive Summary is commonly the last section to be written after all the other major parts have been completed, it is the next major part of the business plan after the introduction.

Global analysis includes the following the variables: political forces, economic forces, socioeconomic

The business model defines the perspective of the business in terms of its structure, production, operation, and financial activities that will lead to the achievement of VMGO.

The demand and supply analysis is also called the consumer and competitor analysis.

Business critical evaluation is th12`1e backbone or the foundation of all other analyses.

The ledger is the book of original entry. It is where all business transactions are chronologically recorded for the first time.

Bookkeeping refers to the recording of the business transactions in the books of the business.

Account titles include the following elements: assets, liabilities, capital, income, and expense.

The assets refers to the properties owned or controlled by the business.

The liability refers to the financial obligations of the business as of the date indicated of the balance sheet.