Answer: The planning process begins with two attributes:
- A mission statement : focuses on the <u><em>current perspective</em></u> of the organization, describes general way of their capacities, their approach to the client and their activities. Is a starting point for the elaboration of the strategic vision.
- A vision statement : The fact of arriving at a well-reasoned conclusion of the company's <u><em>long-term direction</em></u> drives administrators to study the current business in detail and to develop a clearer idea of whether it is change is necessary and how to do it within the next 5 to 10 years.
Explanation:
What do we want to become? VISION STATEMENT
What is our reason for being? MISSION STATEMENT
What are the costs? VISION STATEMENT
How much money can I make? VISION STATEMENT
What are the risks? VISION STATEMENT
What products do we offer at a profit? MISSION STATEMENT
Answer:
Goal formation is a process of how a goal is initiated or added to, while goal displacement is a process whereby goals are shifted out, changed, toned down or removed from the original set.
Answer:
B. assets must increase, or equity must decrease by $10,000
Explanation:
As it is given that
The transaction increased the total liabilities by $10,000 which either increase the assets or decrease the equity by $10,000 as per the accounting equation
As we know that
Accounting equation is
Total assets = Total liabilities + owner equity
So by following this equation the appropriate answer is B as the transaction focused on balancing the accounting equation
Answer:
Option B
Explanation:
In simple words, The absolute benefit is the ability of an person, business, region or country to generate more products or services with the similar quantities of resources per unit of time or to generate the same quantity of goods or services per unit of time using minimal errors than any other entity that manufactures the same goods or services.
A competitive advantage occurs when a nation can manufacture goods at smaller opportunity costs relative to other economies. A nation can, nevertheless, get an upper hand in all commodities. An inherent benefit occurs when a nation is actually the best (most effective) to manufacture a good or services.