Accounts That Are Used to Describe Assets, Liabilities, and Equity

question 21

Multiple Choice

Accounts that are used to describe assets, liabilities, and equity, that are not closed aslong as the company continues to own the assets, owe the liabilities, or have equity, and whose balances appear on the balance sheet are called:

• A)Nominal accounts.
• B)Contra accounts.
• C)Accrued accounts.
• D)Temporary accounts.
• E)Permanent accounts.

Understand the impact of online communication on personal and organizational brand.

Understand the design and purpose of performance reviews in the workplace.

Recognize strategies for handling requests for recommendations in social networking environments.

Comprehend the steps and considerations before terminating an employee.

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Definitions:

Validated Learning

An approach in lean startup methodology where insights and understanding are gained by trying out initial ideas and iteratively testing them with users.

Prototype

A preliminary model or version of a product used to test and refine design and functionality before final production.

Iteration

The process of repeating a sequence of operations or activities in order to generate a desired outcome or improve a product, system, or design.

Perfect Experiments

Controlled studies aimed at determining the effect of variables in an ideal and flawless manner, often unachievable in practice.