Companies Are Increasingly ________________ Communities of Practice

question 68

Multiple Choice

Companies are increasingly ________________ communities of practice.

• A) destroying
• B) promoting
• C) discouraging
• D) ignoring

Calculate the number of days' sales uncollected using the appropriate formula.

Recognize the purposes and components of a voucher system in the control of cash payments.

Understand the function and recording of petty cash transactions including the establishment and replenishment of petty cash funds.

Identify internal control procedures for managing cash receipts and disbursements.

---

Definitions:

Actual Annual

Refers to the true or realistic yearly financial or quantitative performance or output of an entity or activity.

Interest Rate

The cost of borrowing money or the return for investing money, usually expressed as a percentage of the principal amount per year.

Economic Rent

The portion of income earned from a factor of production (land, labor, or capital) that exceeds the minimum amount necessary for it to be utilized in its current use.

Natural Resources

Materials or substances occurring in nature which can be exploited for economic gain, such as minerals, forests, water, and fertile land.