Because Income and Expenses Are Accumulated for Only One Year

question 1

Multiple Choice

Because income and expenses are accumulated for only one year they are known as:

• A) temporary accounts.
• B) permanent accounts.
• C) short-term accounts.
• D) yearly accounts.

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Definitions:

Time

The ongoing and irreversible progression of events from the past through the present to the future.

Cultural Sensitivities

Awareness and respect for the differences in cultures, beliefs, and practices among individuals or groups.

Global Virtual Teams

Groups of workers from different geographic locations who collaborate online across time zones and national boundaries, often for a common project or goal.

Assertive

The quality of being self-assured and confident without being aggressive, involving clear, honest communication of one's needs, desires, or boundaries.