Organization Refers to the Fact That Intellectual Operations Are

question 63

Multiple Choice

Organization refers to the fact that intellectual operations are

• A)ordered in a chronological series.
• B)parallel to each other.
• C)completely independent of one another.
• D)integrated with one another in a hierarchical nature.

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Definitions:

Accrual Basis

An accounting method where revenue and expenses are recorded when they are earned or incurred, regardless of when the cash is actually received or paid.

Accounts Payable

Liabilities of a business that are due to creditors within a short period of time, usually for the purchase of goods and services.

Expenses

The cost of assets consumed or services used in the process of generating revenues.

Accounts Receivable

Money owed to a business by its customers for products or services delivered on credit.