Which of the Following Is a Trend That Has Allowed

question 68

Multiple Choice

Which of the following is a trend that has allowed companies to skip the phase model when going global?

• A) quick, reliable air travel
• B) the globalization of the cocooning trend
• C) a critical need for resources
• D) the metamorphosis of marketplaces
• E) all of these

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Definitions:

Temporary Accounts

Accounts used to collect revenues, expenses, and dividends information which are then transferred to permanent accounts at the end of the accounting period.

Closed

Refers to an account or period that has been concluded and no longer accepts entries or transactions.

Accrual Basis

An accounting method where revenues and expenses are recorded when they are earned or incurred, regardless of when the cash is exchanged.

Adjusting Entries

Journal entries made in the accounting records at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.