What is the purpose of closing entries?
a. To prepare financial statements
b. To close (or zero) the revenue, expense, and Drawing accounts
c. To close (or zero) the assets, liabilities, and owner's Capital accounts
d. All of the answers listed
b
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Maria, the CEO of EnviroSystems, has only three people reporting to her: the vice president of marketing, vice president of HR, and vice president of accounting. Maria has a
A. narrow span of control. B. small unity of command. C. wide span of control. D. focused span of control. E. broad span of influence.
Once declared, a cash or property dividend cannot be revoked
Indicate whether the statement is true or false
Ethics ______.
A. focuses on the virtuousness of individuals and their motives B. is a derivative of the Greek word pathos C. is primarily concerned with an organization's goals D. is a derivative of the Greek word logos
Patricia has just been offered a full-time position over the phone and has decided that the position isn't right for her. What should she do?
A) Say that she will be back in touch and then do nothing because the employer will figure out soon enough that she isn't going to accept the position. B) Accept the position anyway to ensure that she'll have a back-up plan in case no other offers come in. C) Say no on the phone immediately to save the employer time. D) Thank the employer verbally for the offer and then write a letter reiterating her thanks and briefly explaining that she is turning it down.