Specialized Functions Such as Marketing and Finance Are Generally Referred

question 317

Multiple Choice

Specialized functions such as marketing and finance are generally referred to as

• A) cross-functional teams.
• B) managerial groups.
• C) divisions.
• D) departments.
• E) strategic business units.

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Definitions:

Business Documents

Written records that provide evidence of business transactions, agreements, and other business activities.

Ledger Accounts

Records within a ledger that show all the financial transactions of a specific account, summarized.

Book of Original Entry

It is the initial record where financial transactions are documented in the accounting system.

Accounts Payable

Debts of a business to creditors arising from the acquisition of goods and services on credit.