What Are Two Common Exercises in an Assessment Center? Briefly

question 112

Essay

What are two common exercises in an assessment center? Briefly describe each type of exercise.

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Definitions:

Income Summary Account

An account used in the closing process to summarize the results of all revenue and expense accounts.

Capital

Financial assets or the financial value of assets, such as cash and goods, used by an organization to fund its operations and grow.

Revenue Account

An account that records the income generated from selling goods or providing services, which contributes to a company's gross income.

Income Summary

An account used during the closing process to summarize the year's revenues and expenses before determining and transferring the period's net income or loss to owner's equity.