Which of the Following Is True of Company Mission Statements

question 47

Multiple Choice

Which of the following is true of company mission statements?

• A)Mission statements should be defined in terms of satisfying customer needs.
• B)A firm's mission statement should be product-oriented, focusing on the products the company sells.
• C)Mission statements should not be specific, as this reduces the company's potential for growth.
• D)A company mission statement should be directed at the company's publics rather than at its employees.
• E)Mission statements should focus both on the company's product as well as the technology used to produce it.

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Definitions:

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal.

Correcting Entries

Journal entries made to correct errors found in the accounting records after the posting process.

Service Revenue

Income earned by a company for the services it has provided to its customers.

Utilities Expense

Costs incurred by a business for basic services such as electricity, water, and gas, classified under operating expenses in the income statement.