Match the Terms with the Definitions

question 65

Multiple Choice

Match the terms with the definitions.
-The rate at which interest is charged, usually expressed as an annual percentage, but in some cases a monthly rate is quoted.

• A)term of the note
• B)accrued interest on notes receivable
• C)bank discount (note payable)
• D)bank discount (note receivable)
• E)contingent liability
• F)rate of interest
• G)discounting (note payable)
• H)payee
• I)notes receivable register
• J)non-interest-bearing note
• K)interest-bearing note

---

Definitions:

Vertical Specialization

The structuring of an organization’s workforce based on hierarchical levels of authority and specialized functions or tasks.

Impersonal Coordination

The organization and management of tasks or activities without personal involvement, often through systems or standardized procedures.

Standardization

The method of establishing and advancing technological norms to guarantee uniformity and interoperability across processes, products, or services.

Lines of Authority

The clear and formal hierarchical structure within an organization that dictates who has control over decisions and resources.