| A | B |
|---|
| Authoritative management | management style in which the manager is directive and controlling |
| Cash budget | a financial report that shows the projections of cash coming in and going out of a business |
| Democratic management | management style in which employees are involved in decision making and the manager provides less direction |
| Gross sales | the dollar amount of all sales |
| Management | process of achieving goals by establishing operating procedures that make effective use of people and other resources |
| Manager | person responsible for planning |
| Net sales | the dollar amount of all sales with any returns subtracted |
| Operations manual | contains all of the rules |
| Organizational structure | plan that shows how the various jobs in a company relate to one another; often represented in a chart indicating the working relationships within the business |
| Periodic inventory method | involves taking a physical count of your merchandise at regular intervals |
| Perpetual inventory method | keeps track of inventory levels on a daily basis |
| Point of sale (POS) software system | cash registers used with a software system that updates inventory records as each sale happens |
| Stock card | paper inventory record for a single item |
| Stock turnover rate | rate at which the inventory of a product is sold and replaced with new inventory |
