EXTERNAL ENVIRONMENT is factors (conditions, trends, and forces) essentially outside the control of organizational members. External environmental scans are conducted to identify important factors in the external environment. This analysis is often a critical aspect in all business or strategic plans.
LAPPING is a scheme to cover an embezzlement by using payments made by one customer to reduce the receivables balance of another customer.
REVOLVING COLLATERAL is accounts receivable or inventory which change from day to day.
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