In Dealing with the Work-Related Activities of People, Managers Must

question 22

Multiple Choice

In dealing with the work-related activities of people, managers must have an understanding of all of the following EXCEPT

• A) leadership.
• B) decision-making.
• C) organisational structure and design.
• D) organisational culture.
• E) the long-term plans of marketplace competitors.

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Definitions:

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that is becoming the global standard for the preparation of public company financial statements.

Market Value

The ongoing value at which one can buy or sell a service or asset in the market.

Nonmonetary Assets

Assets that cannot be readily converted into cash, such as property, equipment, and patents.

Successful-efforts Method

An accounting method used in the oil and gas industry focusing on capitalizing the cost of successful projects and expensing those of unsuccessful ones.