One Way to Understand the Differences Among the Three Forms

question 98

Multiple Choice

One way to understand the differences among the three forms of commitment is to ask yourself:

• A)Who is serving as the focus of commitment?
• B)How will you feel if you leave organization?
• C)What incentive is the focus of attention?
• D)What has inspired your focus of performance?
• E)Who would be most affected if you left the organization?

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Definitions:

Creditors

Creditors are individuals or entities to whom a company owes money for goods or services that have been provided.

Asset Account

An account on a company's balance sheet that represents a resource with economic value that an entity owns or controls.

Journal

An official financial record in which transactions are recorded in chronological order before they are transferred to accounts in the general ledger.