The Purpose of Closing Entries Is to Transfer

question 34

Multiple Choice

The purpose of closing entries is to transfer:

• A)Accounts Receivable to Retained Earnings when an account is fully paid.
• B)Balances in temporary accounts to a permanent account.
• C)Inventory to Cost of Goods Sold when merchandise is sold.
• D)Assets and liabilities when operations are discontinued.

Understand the role of a human resource information system (HRIS) in evaluating organizational change.

Comprehend the evolution of HR planning.

Differentiate between radical and incremental organizational changes.

Identify implications for HR practices in holding people accountable during changes.

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Definitions:

Product Availability

The extent to which goods or services can be purchased at any given time from a supplier.

Delivering a Product

The process of transporting a product from the manufacturer or supplier to the final customer or point of use.

Supply Chain Efficiency

The effectiveness with which a supply chain operates, aiming to minimize costs and waste while maximizing speed and quality.

Implied Uncertainty

The uncertainty in outcomes or future conditions that is suggested or inferred but not explicitly stated or known.