Each Department in a Company That Carries Out Value-Creating Activities

question 131

Multiple Choice

Each department in a company that carries out value-creating activities can be thought of as a link in the company's ________.

• A)market development
• B)product development
• C)business portfolio
• D)value chain
• E)value delivery network

---

Definitions:

Adjusting Journal Entries

Entries made in accounting records at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Closing Journal Entries

Entries made in the accounting records at the end of an accounting period to transfer balances from temporary to permanent accounts.

Salary Expense

An expense account that records the total amount of salary payments made to employees over a period of time.

Accrued Salaries

Salaries that have been incurred but not yet paid, representing a liability for the company.