Which of the Following Is TRUE in Regard to a Long-Term

question 54

Multiple Choice

Which of the following is TRUE in regard to a long-term oriented culture?

• A) Students with this outlook will attribute their success or failure to luck or chance.
• B) Executives with this orientation value self-reliance and personal freedom.
• C) Organizations with this orientation focus on future profits.
• D) Cultures with this outlook see humility as a virtue only for women.

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Definitions:

Capital Decrease

A reduction in the amount of equity owned by shareholders or owners of a company, often resulting from losses or distribution of dividends.

Salary Allowances

Salary allowances are specific amounts designated in an individual’s salary package for purposes like housing, travel, medical expenses, etc., often with tax implications.

Partnership Income

The earnings generated by a partnership that are distributed to its partners according to their agreement.

Income Summary

An account used in the closing process that summarizes the revenues and expenses of an accounting period, to determine the net income or loss.