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If the Income Summary account has a credit balance just prior to closing it to retained earnings, the company must have incurred a net income for the year.
Division of Work
The assignment of different parts of a manufacturing process or task to different individuals in order to improve efficiency.
Supervisory Relationships
The dynamic between supervisors and their subordinates, characterized by guidance, support, and oversight in a work context.
Organization Chart
A visual representation that shows the structure of an organization and the relationships and relative ranks of its parts and positions/jobs.
Senior Managers
Top-level executives who are responsible for the overall management and effectiveness of the organization.
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