Hiromi Started a New Job with a Growing Consulting Firm

question 126

Multiple Choice

Hiromi started a new job with a growing consulting firm and was surprised to find that most employees had no job titles.A coworker explained that the founders wanted to create a level playing field, allowing motivated employees to seek leadership roles on a project-by-project basis.No job titles, here, is an example of

• A)stabilizing structure.
• B)measuring activities.
• C)increasing accountability.
• D)embedding culture.
• E)reinforcing hierarchy.

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Definitions:

Temporary Account

An account that is cleared to zero at the end of an accounting period to calculate income and expenses for that period.

Gross Profit Margin

A financial metric indicating the percentage of revenue that exceeds the cost of goods sold, reflecting the efficiency of a company in managing its production costs.

Normal Balances

The default side (debit or credit) of an account that is increased, reflecting the account's nature in double-entry bookkeeping.

Purchase Discounts

Reductions in price given by suppliers to buyers as an incentive for early payment of invoices or bulk purchases.