FinOps Final Exam| 150 Questions| With Complete Solutions

Private investors who fund start-up businesses are called Correct Answers Angel Investors A(n) is a written statement of goals and objectives for a business with a strategy to achieve them. Correct Answers Business Plan The movement of money into and out of a business is called . Correct Answers Cash Flow is an asset pledged that will be claimed by a lender if the loan is not repaid. Correct Answers Collateral A person who starts a new business or purchases an existing business is a(n) Correct Answers Entrepreneur Capital brought into a business in exchange for a percent of ownership in the business is called Correct Answers Equity Financing are critical skills necessary to perform the required work-related tasks of a position Correct Answers Job-Specific Skills is someone with experience who can provide advice, suggestions, and ideas Correct Answers Mentor the process of gathering and analyzing of information about a business Correct Answers Market Research is a sentence in a business plan that describes the purpose of the business Correct Answers Mission Statement outlines how company decisions are made Correct Answers Policy How a business identifies the hierarchy of the employees within a business Correct Answers Organizational structure The authority structure of a company from the highest to the lowest levels is called the Correct Answers Chain of Command the process of controlling and making decisions about a business Correct Answers Management plans are created for the long-term goals of an organization Correct Answers Strategic Plans The process of recruiting, hiring, training, evaluating, and compensating employees is called Correct Answers Staffing Theory__managers believe that employees need close supervision at all times. Correct Answers Theory X The practice of organizing time and work tasks to increase personal efficiency is called Correct Answers Time Management The ability to analyze a situation, interpret information, and make reasonable decisions involves Correct Answers Critical-Thinking Skills The interacting forces within a group are Correct Answers Group Dynamics The area of management responsible for the activities necessary to produce goods and services is Correct Answers Operations Management includes any activity related to making a product Correct Answers Production The process of changing and improving resources to create goods or services is called Correct Answers Conversion is changing the form of raw materials for another use Correct Answers Material Processing