The Power Distance Index, Identified by Geert Hofstede, Measures the Tolerance

question 77

True/False

The Power Distance Index, identified by Geert Hofstede, measures the tolerance for social inequality among members of a culture.

---

Definitions:

Adjusted Trial Balance

A list of all accounts and their final balances after adjustments, used to prepare financial statements.

Income Summary Account

A temporary account used to accumulate all income and expense accounts before transferring the net amount to retained earnings at the end of an accounting period.

Retained Earnings

The portion of net earnings not distributed as dividends to shareholders, but retained by the company to be reinvested in its core business or to pay debt.

Permanent Account

Accounts that carry their ending balances over into the next accounting period, typically including assets, liabilities, and equity accounts.