Theory __________ Assumes People Are Willing to Work, Accept Responsibility

question 60

Multiple Choice

Theory __________ assumes people are willing to work, accept responsibility, and are self-directed.

• A) Y
• B) Z
• C) X
• D) A

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Definitions:

Debit

A bookkeeping record that causes assets to go up or liabilities to go down on a firm's balance sheet.

Equipment

denotes tangible assets used in operations, such as machinery or office equipment, which have a useful life beyond one accounting period.

Liability

A company's financial debt or obligations that arise during the course of its business operations.

Expense

An expense constitutes the money spent or cost incurred in an organization's efforts to generate revenue, representing the consumption of assets.