Less Restrictive Policies and Procedures and Less Standardized Operating Methods

question 78

Multiple Choice

Less restrictive policies and procedures and less standardized operating methods

• A) allow organizations to be more flexible.
• B) make it difficult for organizations to respond quickly .
• C) widen the span of control in an organization.
• D) make an organization more centralized and mechanistic.
• E) increase groupthink within organizations.

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Definitions:

FIFO Method

Stands for "First In, First Out," an inventory valuation method where the cost of the oldest items are the first to be recorded as sold.

Common Stock

A form of corporate equity ownership, a type of security representing ownership of a fraction of a corporation's capital.

Industry Segment Disclosure

Financial reporting that breaks down a company's operations by segment or division to provide insight into each segment's performance.

U.S. GAAP

The Generally Accepted Accounting Principles in the United States, which set the standards for financial reporting and accounting.