________ Communication Can Be Beneficial When There Is an Interest

question 111

Multiple Choice

________ communication can be beneficial when there is an interest in efficiency and speed of communication between managers at different levels and in different departments.

• A)Upward
• B)Downward
• C)Lateral
• D)Diagonal

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Definitions:

Generally Accepted Accounting Principles

The common set of accounting principles, standards, and procedures that companies use to compile their financial statements.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts and prepare the company's books for the next period.

Operating Entity

An organization or firm that engages in commercial, industrial, or professional activities.

Owner's Capital Account

An account on a company's balance sheet representing the total investment made by the owner(s), minus any withdrawals.