Milo, Who Is Working in the United States, Has Been

question 38

Multiple Choice

Milo, who is working in the United States, has been transferred to an office in India. Which of the following is the best way for Milo to learn the conventions used in the Indian office?

• A) He should follow the same conventions used in the United States because conventions are universal.
• B) He should research about the conventions in Indian businesses before he comes to India.
• C) He should observe what other workers are doing in the Indian office.
• D) He should ask clients in India about the conventions.
• E) He should read more Indian business magazines.

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Definitions:

Equipment

Tangible property used in the operation of a business that is not intended for sale in the usual course of business.

Post-Closing Trial Balance

A list of all accounts and their balances after the closing entries have been made, used to verify the equality of debits and credits and prepare for the next accounting period.

Supplies Expense

An expense account that records the cost of consumable items used during an accounting period, such as office supplies.

Purchases

Transactions where goods or services are exchanged for money, typically recorded in the accounting period in which they occur.