Historically,which Type of Responsibility Means Making a Profit by Producing

question 94

Multiple Choice

Historically,which type of responsibility means making a profit by producing something valued by society?

• A)discretionary  
• B)ethical  
• C)legal  
• D)economic

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Definitions:

Pending Job

A task or project that has been initiated but is not yet completed or ready for execution.

Sales Receipt

A document that provides proof of a transaction between a seller and a buyer, indicating the purchase of goods or services.

Creating an Invoice

The process of generating a document that itemizes and records a transaction between a buyer and seller, detailing products or services sold, prices, and payment terms.

Timing Difference

The discrepancy that arises between the recognition of revenue or expenses in accounting records and the actual receipt or payment of cash.