Which One of the Following Is Not Particularly a Negative

question 18

Multiple Choice

Which one of the following is not particularly a negative stereotype that members of Gen Y often have to overcome?

• A)They are too formal in their speech.
• B)They are entitled.
• C)They have a weak work ethic.
• D)They are self-centered.

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Definitions:

Income Summary Account

A temporary account used in the closing process that aggregates all income and expense accounts to determine net income or loss for a period.

Permanent Account

An account in the general ledger that carries its ending balance over to the next accounting period, such as assets, liabilities, and equity accounts.

Balance Sheet

A balance sheet is a financial statement that provides a snapshot of a company's financial condition at a specific time, summarizing its assets, liabilities, and shareholders' equity.

Income Statement Debit Column

Typically, an income statement does not use a debit column; instead, expenses decrease revenue to show net income or loss.