Chester Bernard Felt That _____ Could Help a Poorly Managed

question 52

Multiple Choice

Chester Bernard felt that _____ could help a poorly managed organization.

• A) bureaucracy
• B) line managers
• C) efficiencies
• D) informal relations
• E) top/down flow of information

Calculate, journalize, and understand product warranty liabilities and their impact on financial statements.

Recognize and journalize contingent liabilities and understand the requirements for note disclosures related to contingencies.

Calculate and interpret liquidity ratios such as the quick ratio to assess a company's ability to meet its current liabilities.

Analyze the role of internal controls in preventing unauthorized transactions.

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Definitions:

Discharge

The release or termination of a person’s duty, debt, or obligation, effectively relieving them from responsibility.

Novation

The act of replacing one obligation with another, essentially altering the parties, terms, or obligations of a contract.

Quilt

A multi-layered textile traditionally composed of a woven cloth top, a layer of batting or wadding, and a woven back, usually stitched together.

Sew

The process of joining or attaching materials together primarily using a needle and thread by hand or with a sewing machine.