Professional Behavior Is Comprised of Six Dimensions, Including Courtesy and Respect

question 73

Multiple Choice

Professional behavior is comprised of six dimensions, including courtesy and respect, appearance and appeal, tolerance and tact, honesty and ethics, reliability and diligence, and

• A)soft and hard skills.
• B)self-actualization and self-control.
• C)sharing and collegiality.
• D)education and training.

Calculate the account balance and understand the concept of a debt ratio.

Distinguish between different types of equity and revenue accounts.

Grasp the dual aspect concept of accounting and its implications for financial transactions.

Understand the fundamental principles and assumptions underpinning financial accounting.

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Definitions:

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts.

Merchandising Company

A business that purchases finished goods for resale, making a profit on the difference between the buying and selling prices.

Service Company

A business that provides intangible products (services) to consumers, as opposed to selling physical goods.

Inventory Shrinkage

The loss of products between purchase and sale due to theft, damage, or errors, resulting in lower inventory levels than recorded.