While ________ Teams Focus on the Accomplishment of Core Operational-Level

question 2

Multiple Choice

While ________ teams focus on the accomplishment of core operational-level production and service tasks, ________ teams focus on integrating the activities of subunits across business functions.

• A) management; work
• B) action; work
• C) parallel; project
• D) project; work
• E) work; management

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Definitions:

Note Payable

A financial liability representing a written promissory note to pay a specific sum of money to another entity on a specific future date or on demand.

Debit/Credit

Accounting terms where a debit increases asset or expense accounts, and decreases liability, revenue or equity accounts; a credit does the opposite.

Adjusting Entry

An accounting entry made into a journal at the end of an accounting period to allocate income and expenditure to the appropriate periods.

Interest Payable

A liability account showing the amount of interest expense that has been incurred but not yet paid.