A Work Team Composed of People from Different Functional Areas

question 20

Multiple Choice

A work team composed of people from different functional areas of the organization who are all focused on a specified objective is known as a ________.

• A)task group
• B)cross-functional team
• C)command group
• D)special-purpose group
• E)self-directed team

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Definitions:

Bad Debts Expense

Bad debts expense represents the loss that a company anticipates or realizes from customers who are unable to pay their outstanding balances.

Uncollectible Accounts

Refers to receivables that a business has determined are unlikely to be collected due to customer default.

Aging

A method used in accounting to categorize a company's accounts receivable according to the duration of time an invoice has been outstanding.

Allowance Account

An account used to reduce the carrying amount of accounts receivable or loans to their net realizable value, reflecting expected losses due to uncollectibility.