On an Automotive Assembly Line, John White Checks to Make

question 76

Multiple Choice

On an automotive assembly line, John White checks to make sure that recently painted car bodies are free of paint bubbles. Other people are assigned the task of seeing that other parts of the car are built to specifications. Which of the following concepts have been employed in this situation?

• A) product design and structured manufacturing
• B) decentralization and unity of command
• C) centralization and product departmentalization
• D) specialization and division of labour

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Definitions:

Current Asset

Assets that are expected to be converted into cash, sold, or consumed within one year or the normal operating cycle of the business, whichever is longer.

Statement Of Financial Position

Another term for a balance sheet; it shows a company's assets, liabilities, and equity at a specific point in time.

Intangible Asset

An asset that lacks physical substance but provides economic benefits to its owner, such as trademarks, patents, and goodwill.

Retained Earnings

Retained earnings refer to the portion of net income that is retained by the corporation rather than distributed to its shareholders as dividends, typically used for reinvestment in the business or to pay down debt.