One of the Benefits of Planning Is How It_______

question 42

Multiple Choice

One of the benefits of planning is how it_______ .

• A) encourages people to work faster
• B) encourages people to try a variety of different ways to do others' jobs
• C) reduces employee turnover
• D) eliminates all discriminatory practices
• E) does none of these

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Definitions:

General Ledger

A comprehensive set of accounts that records all financial transactions of a business and is used to prepare financial statements.

One Column Purchases Journal

A simplified accounting journal used for recording the total monetary amount of purchases by a business.

Merchandise On Account

Purchasing goods from suppliers on credit, intending to pay at a later date, reflected in accounts payable.

Debits And Credits

The two facets of accounting entries; debits increase assets or decrease liabilities, while credits decrease assets or increase liabilities.