If the CEO of an Organization Is Asking, "What Business

question 39

Multiple Choice

If the CEO of an organization is asking, "What business are we really in?" what OD strategy is being considered?

• A)TQM
• B)Reengineering
• C)Team building
• D)Survey feedback
• E)Goals and strategies

Distinguish between current liabilities and other types of liabilities.

Define current assets and their characteristics.

Understand the different types of asset accounts and their classification.

Identify the classification and nature of different balance sheet and income statement accounts.

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Definitions:

Chattels

Tangible, movable personal property that can be measured and weighed; also known as goods.

Fixtures

Items that are attached to a property in such a way that they become part of the property and cannot be removed without permission.

Continuing Guarantee

A provision in a guarantee allowing the creditor to advance further funds without affecting the obligation of the guarantor to pay in the event of default.

Legal Claim

A formal assertion by a plaintiff that they are entitled to legal remedy or compensation from a defendant.