An Important New Element in Social Development Theory That Seeks

question 4

Multiple Choice

An important new element in social development theory that seeks to create profit-seeking businesses instead of developing new services in the public sector is known as:

• A) entrepreneurship
• B) mutual-aid services
• C) social enterprise
• D) private sector philanthropy

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Definitions:

Adjusting Entry

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

Interest Payable

A liability account on a company's balance sheet representing the amount of interest expense that has been incurred but not yet paid.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate period for a more accurate financial report.

Salaries Payable

An accounting liability representing the amounts owed to employees for work performed but not yet paid.