According to Olson's Law of Large Groups

question 114

Multiple Choice

According to Olson's law of large groups,

• A)the larger the group,the more effective it will be.
• B)the smaller the group,the more effective it will be.
• C)the size of a group does not determine its effectiveness; the leadership structure is the key.
• D)all groups have a life cycle of birth,growth,maintenance,and decline,although many never decline completely.
• E)large groups are more democratic.

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Definitions:

Accounting Cycle

The process of recording and processing all financial transactions of a company, from when the transaction occurs, to its representation in the financial statements, followed by closure of accounts.

Work Sheet

A document used by accountants to prepare adjusting entries and to draft a company's financial statements.

Accounting Cycle

The accounting cycle is a step-by-step process of recording, classifying, and summarizing financial transactions of a business to provide an accurate picture of its financial position and performance.

Adjusting Entries

Documentation in accounting made at the termination of an accounting cycle to allot income and spending to the span in which they factually occurred.