For a Liability to Exist

question 165

Multiple Choice

For a liability to exist:

• A)a past transaction or event must have occurred.
• B)the exact amount must be known.
• C)the identity of the party must be known.
• D)an obligation to pay cash in the future must exist.

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Definitions:

Organizational Goals

Objectives set by a business or organization which guide its actions and decision-making processes.

Theory Z

A management philosophy which integrates Japanese and American business practices, emphasizing employee participation, job security, and company loyalty.

Quality Circles

Small groups of employees who regularly meet to discuss and propose solutions to workplace issues, aimed at improving performance and working conditions.

Human Relations Model

A management approach emphasizing the importance of interpersonal relationships and employee morale in achieving organizational objectives.