Which of the Following Statements Are True in Respect to Continuous

question 48

Multiple Choice

Which of the following statements are true in respect to continuous improvement?
i.Some companies focus their efforts to improve performance on specific problem areas
ii.Companies should set an increasingly difficult targets to motivate employees to improve their performance continuously.
iii.It is inappropriate to change performance measures on short-term cycles,such as monthly.

• A) i and iii
• B) ii and iii
• C) i and ii
• D) All of the given answers

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Definitions:

Liability Account

An accounting record that captures the amounts a company owes to creditors or other parties, reflecting the company's future obligations.

General Ledger

The comprehensive set of accounts that summarizes all transactions occurring within an organization, serving as the foundation for financial reporting.

Subsidiary Ledger

A detailed ledger that contains the individual accounts supporting a specific general ledger summary account.

Sales Returns and Allowances

Accounts that reduce total sales revenues on the income statement due to returned or damaged goods, or price allowances granted to customers.