Conceptual Skills Relate to a Manager's Ability to

question 39

Multiple Choice

Conceptual skills relate to a manager's ability to

• A)solve detailed problems in groups.
• B)take a strategic view of how the part of the organization function.
• C)correctly evaluate organizational problems.
• D)understand and interact effectively with others in the organization.

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Definitions:

Retained Earnings

Profits generated by a company that are not distributed to shareholders as dividends, but are kept for reinvestment in the business or to pay off debt.

Useful Life

The estimated period over which a fixed asset is expected to be useful to the owning entity, beyond which it is considered to be no longer efficient for use.

Consolidation Adjustments

Adjustments made in the preparation of consolidated financial statements to eliminate the effects of intercompany transactions and balances among the entities being consolidated.

Gain on Sale

The financial profit earned from selling an asset at a higher price than its purchase price or book value.