Stephen Read in a Business Magazine That All the Major

question 81

Multiple Choice

Stephen read in a business magazine that all the major companies use computers,so he bought a bunch of computers and told his employees to use them without arranging for any training.This is a direct violation of the principles of

• A)Theory X.
• B)open systems theory.
• C)bureaucracy.
• D)sociotechnical systems theory.

Identify the traits and skills essential for entrepreneurial success.

Comprehend the advantages and disadvantages of small businesses in the retail industry.

Acknowledge the process and challenges of entrepreneurship.

Recognize the major causes of small-business failure.

---

Definitions:

Equivalent Units

A metric used in cost accounting to express the amount of work done by manufacturers who have partially completed units on hand at the end of an accounting period.

Work in Process-Assembly Department

Inventory account that tracks the cost of partially completed goods that are still in the production process in the assembly department.

Equivalent Unit

A concept used in cost accounting to represent a portion of work done on a product, quantified in terms of fully completed units.

First-In, First-Out

An accounting method where the first items added to inventory are the first ones to be sold or removed, particularly relevant for cost calculation.