When a Manager Lays Out the Lines of Authority and Responsibility

question 84

Multiple Choice

When a manager lays out the lines of authority and responsibility among different individuals and groups, the manager is

• A)organizing.
• B)leading.
• C)controlling.
• D)planning.

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Definitions:

Assets

Economic resources owned by a business that are expected to benefit future operations.

Owner's Equity

The residual interest in the assets of a business after deducting liabilities; represents the owner's claim on the business assets.

Liabilities

Financial obligations a company owes to outside parties.

Assets

Resources owned or controlled by a business, which are expected to produce future economic benefits.