Cross-Functional Teams Refer to

question 290

Multiple Choice

Cross-functional teams refer to

• A)members of an organization who have been trained in multiple disciplines so they can easily move from one job to another as needed.
• B)situations where two departments within the same company have opposing views about how a product should be developed and managed.
• C)departments within an organization that carry out multiple functions due to financial constraints within the company.
• D)a small number of people from different departments in an organization who are mutually accountable to accomplish a task or a common set of performance goals.
• E)departments within an organization who manage the same product with distinctly different marketing programs to reach different target markets.

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Definitions:

Revenue Accounts

Accounts that track the income earned from the sale of goods and services, or the increase in equity resulting from the operations of an organization.

Owner's Capital Account

An account on a company's balance sheet that represents the owner's invested capital plus retained earnings minus withdrawals.

Balance Sheet Accounts

Accounts that reflect the financial position of a company at a specific point in time, including assets, liabilities, and shareholders' equity.

Closing Entry Process

The procedure used at the end of an accounting period to transfer balances from temporary accounts to permanent accounts, clearing the temporary accounts for the next period.