Organizations Need Both Leadership and Management If They Are to Be

question 153

True/False

Organizations need both leadership and management if they are to be effective.

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Definitions:

Service Revenue

Revenue generated by a business through the delivery of services to its clientele.

Prepaid Rent

An asset account that records rent payments made in advance for the use of property or space that hasn’t yet been incurred.

Adjusting Entry

An entry made in the journals to align the accounts with the true financial status by accounting for accrued or deferred items.

Net Income

A measure of profitability that calculates the total revenue minus total expenses, taxes, and costs.