When You Take Responsibility for Something, You

question 12

Multiple Choice

When you take responsibility for something, you:

• A) blame yourself instead of others for problems and mistakes.
• B) blame circumstances instead of yourself or others for problems and mistakes.
• C) make excuses for problems and mistakes, so as to explain their occurrence.
• D) face problems and mistakes head on and do what you can to fix them.
• E) blame the organisation as a whole, rather than any individual, for problems and mistakes.

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Definitions:

Wages and Salaries

Wages and Salaries refer to the regular compensation paid to employees for their labor or services in executing their job responsibilities.

Note Payable

A financial obligation or loan evidenced by a promissory note, which requires the borrower to pay back the amount borrowed plus interest.

Incremental Borrowing Rate

The Incremental Borrowing Rate is the interest rate a company would have to pay if it borrows funds, used in lease accounting to measure lease liabilities.

Equipment

Tangible property owned by a business that is used in its operations to generate income.