Carol, a Mid-Level Manager at Pegasus Incorporated, Has Not Received

question 102

Multiple Choice

Carol, a mid-level manager at Pegasus Incorporated, has not received a promotion in the last three years despite good performance and good ratings at performance appraisals. If she were to be promoted, she would be the only female employee at the top management level. Carol seems to have hit the

• A) brick wall.
• B) glass wall.
• C) glass ceiling.
• D) invisible ceiling.

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Definitions:

Temporary Accounts

These are accounts that are closed at the end of each accounting period, including revenues, expenses, dividends, and income summary accounts, to prepare the company for a new accounting period.

Retained Earnings

The portion of net income not distributed as dividends but retained by the company to reinvest in its business or to pay debt.

Accounting Period

A specific duration of time for which financial statements are prepared, often annually, quarterly, or monthly, to measure financial performance.

Adjusted Trial Balance

An inventory of all accounts with their adjusted balances, utilized to compile financial statements.