STAKEHOLDER Definition

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STAKEHOLDER is a person, group, organization, or system who affects or can be affected by an organization's actions, e.g. stockholders, employees, vendors, and customers.

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FLEXIBLE BUDGET is based upon different levels of activity. It is a very useful tool for comparing actual costs experienced to the cost allowable for the activity level achieved, i.e. it is dynamic in nature as compared to static. A series of budgets can be readily developed to fit any activity level. Flexible budgeting distinguishes between fixed and variable cost, thereby allowing for a budget that can be automatically adjusted to the level of activity actually attained.

HIGH CREDIT is the most a debtor has ever charged with any one creditor.

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