According to Katzenbach and Smith (2003), "A Team Is a Small

question 12

Multiple Choice

According to Katzenbach and Smith (2003) , "A team is a small number of people with complementary skills who are mutually accountable and committed to

• A) a common purpose, performance goals, and approach."
• B) doing what is agreed upon by the team."
• C) doing what the majority of the team prefers."
• An equal vote and say on team matters."

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Definitions:

Sales Tax

A tax imposed by a government on the sale of goods and services.

Credit Period

Length of time allowed for payment of goods sold on account.

Discount Period

The time frame in which a payment can be made at a reduced rate.

Contra-revenue Account

An account that offsets revenue accounts on the income statement, such as sales returns, allowances, and discounts.