In Rank Systems There Are

question 20

Multiple Choice

In rank systems there are:

• A) fewer positions of prestige than people capable of filling them
• B) as many positions of prestige as people capable of filling them
• C) more positions of prestige than people capable of filling them
• D) all of the above
• E) none of the above

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Definitions:

Current Ratio

It's a financial ratio that calculates whether a corporation can cover its obligations that need to be paid within one year, by dividing the current assets by the current liabilities.

Plant Assets

Tangible assets that are used in the operations of a business and are not intended for resale, including buildings, machinery, and equipment.

Natural Business Year

The fiscal year that ends when a business's activities have reached the lowest point in its annual operating cycle, theoretically the most optimal time for financial reporting.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate years.