Internal Customers Are Those Individuals or Groups Found Within the Organization

question 171

True/False

Internal customers are those individuals or groups found within the organization who use or depend on one another's work in order to do their own job well.

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Definitions:

Accounts

Financial records of a company's transactions, maintaining detailed information about revenue, expenses, assets, liabilities, and equity.

Dividends Declared

Profits that a company's board of directors has decided to distribute to its shareholders, usually in the form of cash payments or additional shares.

Shareholders' Equity

The remaining value of a company's assets after liabilities are subtracted, which signifies the ownership stake of the shareholders.

Debits

An accounting entry that increases an asset or expense account, or decreases a liability or equity account.