Because of Their Importance and Skills,few Managers Lost Their Jobs

question 266

True/False

Because of their importance and skills,few managers lost their jobs in the economic crisis of 2008-2010.

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Definitions:

Transaction

Any event or activity that affects the financial position of a company and can be measured reliably in monetary terms.

Accounts

Records that summarize all the transactions related to a specific financial aspect, such as assets, liabilities, equity, expenses, and income.

Basic Accounting Equation

Assets = Liabilities + Owner’s equity.

Assets

Economic resources owned or controlled by an individual, company, or entity, expected to provide future benefits.