According to Systems Theory, an Organisation Can Be Considered a System

question 28

Multiple Choice

According to systems theory, an organisation can be considered a system because:

• A) it is made up of interwoven subsystems.
• B) when one of its aspects is changed, its other aspects are also affected.
• C) it is a collection of different elements which, when put together, create a complex, meaningful whole.
• D) its various parts are interrelated.
• E) All of these responses are correct.

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Definitions:

Accumulated Depreciation

The total depreciation that has been applied to a fixed asset since it was acquired, representing the loss of value over time.

Balance Sheet

A financial record showing the balance of assets, liabilities, and equity of shareholders of an enterprise on a specific date.

Fair Market Value

The price that a property would sell for on the open market, between a willing buyer and a willing seller.

Trade-In Allowance

The value credited to a customer when they exchange an older item towards the purchase of a new item, often used in automotive and electronics sales.