An Organization's Foundation Can Be Broken into Three Key Elements

question 178

Multiple Choice

An organization's foundation can be broken into three key elements:

• A)products,services,and ideas.
• B)business definition,long-term goals,and short-term objectives.
• C)board of directors,top management,and stakeholders.
• D)corporate-level strategies,SBU-level strategies,and functional-level strategies.
• E)core values,mission/vision,and organizational culture.

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Definitions:

Assets

Resources owned by a business which are expected to provide future economic benefits.

Landlord

An owner of property, such as land or buildings, who leases or rents it to another party, known as a tenant.

Journalize

The act of recording business transactions in the journal of an accounting system, marking the first step in the accounting cycle.

Normal Balance

The side (debit or credit) of an account that is typically increased; varies depending on the account type.