The Organizing Process Is Important as a Way to Help

question 53

Multiple Choice

The organizing process is important as a way to help the organization attain its:

• A)mission.
• B)non programmed decisions.
• C)chain of command.
• D)bureaucratic controls.

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Definitions:

Gain on Realization

Profit recognized from selling an asset for more than its book value.

Loss or Gain

The financial result from business transactions, investments or other financial events, indicating a profit (gain) or a deficit (loss).

Realization Account

An account used in the process of dissolving a partnership or corporation, where the assets are converted into cash and liabilities are paid off.

Post-closing Account Balances

The balances of all ledger accounts after adjusting entries have been made and temporary accounts have been closed out at the end of an accounting period.