_____ Involves Reducing the Number of Employees to Cut Costs

question 80

Multiple Choice

_____ involves reducing the number of employees to cut costs.

• A) Outsourcing
• B) Offshoring
• C) Utility computing
• D) Downsizing

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Definitions:

Closing Process

The process of transferring the balances of temporary accounts to permanent accounts at the end of the accounting period.

Balance Sheet Accounts

Accounts displayed on the balance sheet, such as assets, liabilities, and equity, reflecting a company's financial standing at a specific point in time.

Income Statement Accounts

Accounts found on the income statement, including revenues, expenses, gains, and losses, used to calculate net profit or loss for a period.

Post-closing Trial Balance

A list of all company accounts that remain after year-end closing entries have been made, used to verify the balance of debits and credits.