Which Term Is Used to Describe the Methods Developed by Frederick

question 12

Multiple Choice

Which term is used to describe the methods developed by Frederick Winslow Taylor to reduce waste and inefficiency in production?

• A) McDonaldization
• B) The iron law of oligarchy
• C) Corporate culture
• D) The Peter principle
• E) Principles of scientific management

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Definitions:

Accounts Receivable

Debts owed by customers to a business for items or services that have been furnished but not compensated.

Sales Discounts

A reduction in the price of goods sold, offered by the seller to the buyer, often to encourage prompt payment.

Periodic Inventory System

A method of inventory valuation for financial reporting purposes where a physical count of all inventory is performed at specific intervals to determine the level of inventory and the cost of goods sold.

Net Method

An accounting method that records purchases or sales of goods and services after deducting any discounts, returning the net amount.