Owen Is a Longtime Friend of Simon Who Has Been

question 266

Multiple Choice

Owen is a longtime friend of Simon who has been working for a very prestigious law firm for several years.Simon admires Owen for how successful he has become and asks him how he has managed to become so successful.Owen tells Simon that he always gives his business card out and makes a point of sending gifts and thank you notes to people.What does Owen do?

• A)Engage in professional activities
• B)Participate in community activities
• C)Increase internal visibility
• D)Maintain contacts
• E)Socialize

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Definitions:

Trial Balance

A financial statement that lists the balances of all ledgers accounts to ensure that debits equal credits.

Transaction Recorded

The act of documenting a business transaction in the company's accounting records.

Debit

A debit is an accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet, or in the context of personal banking, a withdrawal from an account.

Credit

An accounting entry reflecting an increase in assets or decrease in liabilities on a company's balance sheet or an entry on the right side of an account.