Assumptions Are

question 98

Multiple Choice

Assumptions are:

• A)deeply held beliefs that guide behavior of organized members
• B)widely known and formally communicated throughout the organization
• C)behavioral tendencies or enacted values
• D)unwritten rules of conduct frequently violated by new employees

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Definitions:

Worksheet

A financial document used by accountants to prepare adjusting entries and end-of-period financial statements.

Net Loss

The amount by which total expenses exceed total revenues for a business over a specific period.

Withdrawal

The act of removing funds from an account, or the act of taking out resources or assets from a business by an owner for personal use.

Capital

The wealth, either financial or physical, that is used by a business to produce goods or services.