Which of the Following Describes the Organizing Function of Management

question 63

Multiple Choice

Which of the following describes the Organizing function of management?

• A)Setting short and long-term objectives
• B)Comparing actual to budgeted results and taking corrective action if needed
• C)Taking actions to implement the plan
• D)Arranging the necessary resources to carry out the plan

Appreciate the significance of physical counts of inventory and the internal controls associated with them.

Understand the implications of inventory costing methods on tax reporting and financial reporting including the LIFO conformity rule.

Identify the components and costs that are included and excluded in the Merchandise Inventory account.

Calculate and interpret inventory turnover ratios and days' sales in inventory.

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Definitions:

Organizational Citizenship

Voluntary behaviors exhibited by employees that contribute to organizational well-being beyond their required duties.

Perceptions

The process by which individuals organize and interpret their sensory impressions to give meaning to their environment.

Unconditional Positive Regard

The acceptance of individuals as worthy and valuable regardless of their behavior, usually applied to parental acceptance of children.

Internal Locus

The belief that one’s actions are primarily guided by personal decisions and efforts rather than by external forces.