For Accounting Purposes, Postdated Checks (Checks Payable in the Future)

question 59

Multiple Choice

For accounting purposes, postdated checks (checks payable in the future) are considered to be

• A) money orders.
• B) cash.
• C) petty cash.
• D) accounts receivable.

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Definitions:

Centralization

The concentration of decision-making authority at the top levels of an organizational hierarchy.

Vertical Division

The organizational structure where tasks are divided based on hierarchy and levels of authority, creating a top-down approach.

Labor

The physical or mental effort used in the production of goods and services, often referring to work or workforce in economic contexts.

Spans Of Control

Refers to the number of subordinates that a manager or leader can effectively direct, supervise, and control.