Innovation<span> can be defined simply as a "new idea, device, or method".</span><span> However, innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs.</span><span> This is accomplished through more-effective </span>products<span>, </span>processes<span>, </span>services<span>, </span>technologies<span>, or business models that are readily available to </span>markets<span>, </span>governments<span> and </span>society. The term "innovation" can be defined as something original and more effective and, as a consequence, new, that "breaks into" the market or society.<span> It is related to, but not the same as, </span>invention.<span> Innovation is often manifested via the </span>engineering<span> process. The </span>exnovation<span> is the opposite of innovation.</span>
        
             
        
        
        
Answer:
a. 
Date                          Account Title                                       Debit           Credit 
Dec. 31, 2017           Insurance expense                          $2,600
                                  Prepaid insurance                                                 $2,600
b. 
Date                          Account Title                                       Debit           Credit 
Dec. 31, 2017           Supplies Expense                               $9,700
                                   Supplies                                                                 $9,700
<u>Working</u>
Supplies = Beginning balance + Purchases - Closing balance 
= 7,800 + 3,400 - 1,500
= $9,700
 
        
             
        
        
        
Answer:
D) Debit income summary 187000, credit revenues 187000
Explanation:
When dividend is declared, following journal entry is passed
Retained Earnings                                    Dr.
     To Dividend Payable 
(Being declared dividend recorded)
When dividends are actually paid, the journal entry is 
Dividend Payable A/C                              Dr. 
      To Cash A/C 
(Being dividend paid recorded)
Income summary account is prepared as a temporary account while income statement represents permanent account.
Income summary shows net income balance i.e Revenue less expenses.
As per the given information in the question, debiting income summary account with total revenues of $187000 would be wrong. 
 
        
             
        
        
        
Answer:
Learning. 
Explanation:
In this scenario, the managers in Julio's company sponsor monthly brainstorming sessions and reward employees with gift cards and recognition when an out-of-the box idea leads to organizational improvements.
Hence, Julio's company is an example of a learning organization.
A learning organization is one which is typically characterized by creating an enabling environment for growth, training, and development of its employees. This opportunity and incentives help employees to engage in critical and creative thinking, research, and development. Consequently, employees would become more confident, brilliant, intelligent, knowledgeable and professionals in their assigned positions or roles, thus helping the organization to achieve its aim, goals and objectives.
<em>In a nutshell, this ultimately implies that it's very important and necessary that organizations sponsor brainstorming sessions and reward employees awesomely, when an out-of-the box idea leads to organizational improvements.</em>