Which of the Following Would an Innovative Company Be MOST

question 90

Multiple Choice

Which of the following would an innovative company be MOST LIKELY to do that an inert company would not do?

• A) promote from within the company
• B) cut costs as low as possible
• C) abide by the most rigid ethical standards
• D) experiment with additional product lines

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Definitions:

GAAP

The standard set of guidelines for financial accounting that are widely accepted in a particular jurisdiction, known as Generally Accepted Accounting Principles.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board.

Debit And Credit Rules

The guidelines used in double-entry bookkeeping where for every debit entry, there must be a corresponding credit entry, and vice versa, to ensure the accounting equation is always balanced.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to check the accuracy of financial records.