When Howard Announced a Change in the Way Hours Would

question 79

Multiple Choice

When Howard announced a change in the way hours would be billed at his law firm, the junior partners resisted and questioned the reason for the change. Instead of addressing their concerns, Howard said, "It's already been decided. It's going to happen." The junior partners ended up resenting the change instead of trying to see if it benefitted them. What change-specific reason contributed to the resistance?

• A)Misunderstanding
• B)Different assessments
• C)Peer pressure
• D)Self-interest
• E)Management tactics

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Definitions:

Recorded

This term refers to the action of documenting financial transactions in the accounting records of a business.

Statement of Financial Position

A financial statement that presents the assets, liabilities, and equity of an entity at a specific date, offering a snapshot of its financial health.

Chart of Accounts

A systematic listing of all accounts used by an organization, making up its general ledger and helping categorize transactions.

Account Numbers

Unique identifiers assigned to individual accounts within a financial recording system to differentiate and track financial transactions.