Superordinate Goals

question 16

Multiple Choice

Superordinate goals:

• A)are always top-down.
• B)provide excellent backup plans and fallback positions.
• C)are achievable only when all group members exert effort.
• D)require extraordinary efforts from star performers.
• E)are always bottom-up.

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Definitions:

Permanent Account

A permanent account is an account that is not closed at the end of the accounting period and carries its balance over into the next period, such as assets, liabilities, and equity accounts.

Closing Entries

Entries recorded at the close of an accounting period for the purpose of moving balances from temporary to permanent accounts.

Capital Account

An account showing the net worth of a business at a specific point in time, including assets contributed by owners and profits.

Balance Sheet

A financial statement that displays a company's assets, liabilities, and equity at a specific point in time.