MBO stands for
A. managing by organizing.
B. management by objectives.
C. management by others.
D. motivation by objective.
E. management by orders.
Answer: B
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Owners of corporations are called ____________________
Fill in the blank(s) with correct word
Financial accounting information is used primarily by management
Indicate whether the statement is true or false
A law firm billed a client $1,800 for work performed in the current month. Which of the following general journal entries will the firm make to record this transaction?
A. Debit Cash, $1,800; credit Unearned Legal Fees Revenue, $1,800. B. Debit Legal Fees Revenue, $1,800; credit Accounts Receivable, $1,800. C. Debit Accounts Receivable, $1,800; credit Unearned Legal Fees Revenue, $1,800. D. Debit Accounts Receivable, $1,800; credit Legal Fees Revenue, $1,800. E. Debit Cash, $1,800; credit Accounts Receivable, $1,800.
Horton Company reports the following: Contributed Capital $ 200 Total Revenues $ 800 Total Liabilities $1,200 Beginning Retained Earnings ($ 100) Total Expenses $ 500 Dividends $ 0 What are Total Assets?
a. $2,600 b. $1,600 c. $1,400 d. $1,000 e. $800