Which of the Following Statements Regarding Account Classification Is True

question 149

Multiple Choice

Which of the following statements regarding account classification is true?

• A)Assets and revenues are the same thing
• B)If employees have not yet been paid for their work,the company has wages payable
• C)Retained earnings equal cash which the company has earned and kept
• D)Revenue is another term for profit
• E)Revenue minus expense equals retained earnings

Grasp the significance of ethnocentrism in group dynamics.

Identify the factors that predict involvement in group activities.

Analyze the effects of relative deprivation on social unrest.

Understand the dynamics of intergroup relations and conflict, including the effects of competition for resources.

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Definitions:

Division of Labour

The division of labour refers to the allocation of different parts of a manufacturing process or task to different individuals in order to improve efficiency.

Deskilling

Refers to the process by which work tasks are broken into simple routines requiring little training to perform. Deskilling is usually accompanied by the use of machinery to replace labour wherever possible and increased management control over workers.

Scientific Management

Developed in the 1910s by Frederick W. Taylor, is a system for improving productivity. After analyzing the movements of workers as they did their jobs, Taylor trained them to eliminate unnecessary actions. This technique is also known as Taylorism.

Productivity

A measure of the efficiency of production, often quantified as the ratio of inputs to outputs in economic terms.