Match the Selected Items from a Classified Balance Sheet and Multiple-Step

question 178

Multiple Choice

Match the selected items from a classified balance sheet and multiple-step income statement to the section in which they would appear on the classified balance sheet or the income statement.
-Consulting revenues

• A)Current Assets (balance sheet)
• B)Property, Plant, & Equipment (balance sheet)
• C)Current Liabilities (balance sheet)
• D)Long-term Liabilities (balance sheet)
• E)Stockholders' Equity (balance sheet)
• F)Operating Revenue (income statement)
• G)Operating Expenses (income statement)
• H)Other Revenue & Expenses (income statement)
• I)Income Taxes (income statement)

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Definitions:

Decentralized System

An organizational or technological system where decision-making power and control are distributed away from a central authority.

Bureaucratic Structure

An organizational structure characterized by formal procedures, hierarchy, and clear division of labor.

Authority-And-Responsibility

Concerns the distribution of tasks and the accompanying expectation of accountabilities within an organization, ensuring that individuals have the rights and obligations to execute their roles.

Scalar Principle

An organizational principle that outlines a clear and direct line of authority in the hierarchy from the top of the organization to the lowest level.