Your Supervisor, Ms

question 32

Multiple Choice

Your supervisor, Ms. Applebee, is asking you to provide her with the cost of equipment the firm owns. Where will you look for it?

• A)in a balance sheet under the Current Assets
• B)in a balance sheet under the Long-Term Assets
• C)in an income statement under the Operating Expenses
• D)in an income statement under the Revenues
• E)in an income statement under the Expenses

Understand the differences and purposes of various business reports (informational, analytical, proposals).

Distinguish between internal and external reports and their implications.

Recognize the components and significance of a business plan.

Understand the roles of direct and indirect approaches in business communication.

---

Definitions:

Claims Of Creditors

Rights or entitlements that individuals or entities have to demand payment or other remedies from a debtor as per the legal agreements.

Forbearance

A creditor's agreement to temporarily postpone collection efforts or the enforcement of a debt obligation.

Legally Entitled

Having a legal right or claim to something under the law.

Bilateral Contract

A contract type involving two parties where each promises to perform an act in exchange for the other party's act.