When a Job Is Completed and the Client Is Billed

question 112

Multiple Choice

When a job is completed and the client is billed, the costs are transferred to an account called the _____.

• A) work in process account
• B) cost of services account
• C) expenses account
• D) applied overhead account

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Definitions:

Contingency Approach

A management theory that suggests the most appropriate management style or approach depends on the specific aspects of the situation at hand.

Chaos Theory

A branch of mathematics focusing on the behavior of dynamical systems that are highly sensitive to initial conditions, often leading to unpredictable and complex outcomes.

Purely Situational Approach

A viewpoint emphasizing that behavior or decisions should be based solely on the specifics of the situation, rather than on general principles or theories.

Theory Y

Theory Y suggests a management style that assumes employees are self-motivated, seek responsibility, and can solve work problems creatively, advocating for a participative management approach.