The First Step in the Comprehensive Model for Change Is

question 59

Multiple Choice

The first step in the comprehensive model for change is to __________.

• A)recognize the need for change
• B)plan the change interventions
• C)identify possible resistance to the change
• D)control the change

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Definitions:

Overstatement

When the reported amount or value of an asset, expense, or income is higher than the real amount.

Periodic Inventory System

An inventory system in which ending inventory and cost of goods sold are determined at the end of the accounting period based on a physical inventory count.

Physical Inventory

Physical inventory refers to the process of counting and verifying the physical stock of goods a company holds in its possession.

Net Income

The net income of a business following the deduction of all costs, such as operational expenses and taxes, from its overall revenue.