For a Company Such as Johnson & Johnson That Makes

question 18

Multiple Choice

For a company such as Johnson & Johnson that makes personal care products,medications,and medical supplies,which of the following would be considered as customers?

• A)Hospitals
• B)Pharmacies
• C)Families
• D)Doctors
• E)All of these.

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Definitions:

Financial Statements

Reports that provide an overview of a company’s financial condition, including the balance sheet, income statement, and cash flow statement.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit columns to ensure that a company's bookkeeping system is mathematically correct.

Balance Sheet

A report detailing a company's financial status, including assets, liabilities, and equity of shareholders at a certain moment, which serves as a foundation for calculating returns and assessing the company's financial health.

Balancing

The act of ensuring that financial records or accounts are correct by making the total amounts of debits and credits equal.