Identify and Explain the Change That Has Affected Organizations and Management

question 38

Essay

Identify and explain the change that has affected organizations and management the most.

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Definitions:

Account Nature

Describes the classification of an account in accounting, such as asset, liability, equity, income, or expense.

Periodic Inventory Method

An inventory valuation method where the inventory balance is updated at specific intervals, such as monthly or yearly, rather than continuously.

Voucher Payment

A method of payment that involves creating a voucher or document detailing the payable amount to a vendor or supplier.

Financial Statement

A written report which quantitatively describes the financial health of a company, including balance sheets, income statements, and cash flow statements.