Describe the difference between temporary and permanent accounts, and state which ones are closed.
What will be an ideal response?
Temporary accounts (revenues, expenses and dividends) collect information about a single period only; they are closed at the end of that period (that is, after closing, their balances will equal zero). Permanent accounts include the balance sheet accounts (assets, liabilities, common stock and retained earnings); their balances roll forward each year rather than being closed out.
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Compared to writing a solicited application letter, composing an unsolicited application letter is
A) much easier. B) much more difficult. C) equally challenging. D) most effective when you use passive verbs entirely. E) most effective when you use only complex sentences.
The first thing you should do before calling a meeting is
A) formulate an agenda. B) determine who should attend. C) decide what you want to achieve. D) plan the schedule and location. E) designate someone to take minutes.
For a U.S.-based entrepreneurial firm, the 75 percent of the world's population living outside the United States offers a very large market opportunity.
Answer the following statement true (T) or false (F)
Self-managed teams consist of __________ multiskilled workers who rotate jobs to produce an entire product or service or at least one complete aspect or portion of a product or service.
A. 3 to 5 B. 5 to 10 C. 5 to 20 D. 10 to 20 E. 20 or more