simulation

• What is the difference between vertical and horizontal analysis?

  Vertical: Comparing items on a financial statement to a base item within the same period.

  Horizontal: Comparing financial data between multiple periods to identify trends and changes.
• What is the difference between vision and mission statements?

  Vision: A mental picture of what the business wants to accomplish or achieve in a few years.

  Mission: A general statement of how the vision will be achieved. An action statement that usually begins with the word "to"
• What is the importance of product prototyping in a business?

  Conducting an initial product prototyping allows the business to discover the flaws of the product and improve on its weaknesses.