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What Are the Five Basic Functions of Management? Explain Some

question 103

Essay

What are the five basic functions of management? Explain some of the specific activities involved in each function. Is one function more important for human resource management?


Definitions:

Permanent Endowment

A donation of money or property to a nonprofit organization, which uses the resulting investment income for a specific purpose.

Fundraising Activities

Efforts undertaken by an organization to generate voluntary financial contributions from individuals, businesses, charitable foundations, or governmental agencies.

Conditional Contribution

A donation made with specified terms that must be met for the contribution to be retained by the recipient.

FASB

The Financial Accounting Standards Board (FASB) is an independent organization responsible for establishing accounting and financial reporting standards for companies and non-profit organizations in the United States.

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