The Emphasis on Individualism in the United States Results in All

question 80

Multiple Choice

The emphasis on individualism in the United States results in all of the following disadvantages except:

• A)managers tend to develop good general skills but lack the company-specific experience.
• B)difficulty in building teams within an organization to perform collective tasks.
• C)executives are not exposed to different ways of doing business.
• D)difficulty to achieve cooperation both within a company and between companies.

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Definitions:

Accrual Earnings

Earnings that are recognized when revenues are earned and expenses are incurred, not necessarily when cash is received or paid.

Reconciliation

The process of ensuring that two sets of records (usually the balances of two accounts) are in agreement.

Direct Method

The Direct Method in accounting is a way to present the cash flow statement, showing actual cash receipts and payments, directly reporting major classes of gross cash receipts and payments.

Accrual Accounts

Accounts that record revenues and expenses when they are earned or incurred, not necessarily when cash is received or paid.