word
Audit
Process by which an organization’s accounts and records are verified
The successful long-term management of an organization’s financial, social, and environmental risks, opportunities, and obligations
Sustainability
test marketing
The process of introducing a new product to a limited market to determine what its acceptance will be
The comparison of two numbers from a business's financial statement; used as a tool by businesses to see relationships between dollars, numbers, and percentages
Financial ratio
Warranty
A promise made by the seller to the consumer that the seller will repair or replace a product that does not perform as expected
Prompt another person to take some kind of action
Motivate
Cash flow analysis
The process of determining the amount of cash a business has to work with at any given time
feedback controls
Mechanisms used to monitor and regulate a task, activity, or performance after it has already occurred
Balance sheets
A financial statement that captures the financial condition of the business at that particular moment (assets and liabilities)
Records that show a business’s financial activities
Financial statements
Guarantee
A promise made to the consumer that a product’s purchase price will be refunded if that product is not satisfactory; often called a money-back guarantee
The management function that monitors the work effort
Controlling
Break-even analysis
The process of determining the level at which revenues equal total costs
Mechanisms used to monitor and regulate a task, activity, or performance before it occurs
Feedforward controls
Return on investment (ROI)
Net profit divided by investment or the "bottom line" on how successful an ad or campaign was in terms of what the returns (generally sales revenue) were for the money expended (invested)
Concurrent controls
Mechanisms used to monitor and regulate a task, activity, or performance while it is occurring