Donna and Kim Are Both Secretaries for the Accounting Department

question 62

Multiple Choice

Donna and Kim are both secretaries for the accounting department.Because someone must be present to answer the phones at all times,different times must be scheduled for each of them to go to lunch.Both of them want the time from noon to 1 p.m.Previous unsuccessful discussions have occurred,resulting in their not speaking to each other.Patti,who also works in the department,sits down separately with each of them to try to explore possible solutions,with the idea that if she can find common ground,they will again discuss alternative schedules face-to-face.Patti is acting as a(n)

• A) facilitator.
• B) arbitrator.
• C) ombudsman.
• D) conciliator.
• E) negotiator.

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Definitions:

Adjusting Entry

A journal entry made at the end of an accounting period to record any unrecognized income or expenses for that period.

Sales Tax

Sales tax is a government levy imposed on the sale of goods and services, collected by the seller from the buyer at the point of sale.

Cash Sales

Transactions in which payment is received at the time of sale, typically in cash or equivalent.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that aim to make financial statements comparable across international boundaries.