Morgan Is a Line Manager Who Wants to Cut Costs

question 43

Multiple Choice

Morgan is a line manager who wants to cut costs and make her department more efficient.She is not sure what she is allowed to do to achieve his goals.Morgan should ask the human resources department for help understanding the ______ responsibilities of line management.

• A) appraisal and promotion
• B) labor cost controls
• C) leadership and motivation
• D) training and development

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Definitions:

Permanent/Temporary

Classification of accounts where permanent accounts (real accounts) represent ongoing items that are not closed at the end of the accounting period, whereas temporary accounts (nominal accounts) are closed.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal, ensuring accuracy of the figures.

Post-closing Trial Balance

The trial balance prepared after closing entries have been posted to ensure that debits and credits still balance, marking the end of an accounting period.

Normal Balance

The side of an account (debit or credit) that is expected to increase; for assets and expenses, it’s debit; for liabilities, equity, and revenue, it's credit.