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Douglas McGregor proposed that managers should use Theory Y assumptions:
Temporary Account
An account in financial accounting that is used to collect revenues, expenses, and withdrawal information which is transferred to permanent accounts at the end of an accounting period.
Accumulated Depreciation
The total amount of a company's assets' depreciation since the assets were acquired, reflecting how much of the assets' value has been used up over time.
Drawing Account
An account used to record withdrawals of cash or other assets from a business by the owner for personal use.
Final Entries
Journal entries made at the end of an accounting period to prepare accounts for the next period or close the books.
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