Identify a True Statement About a Bureaucracy

question 37

Multiple Choice

Identify a true statement about a bureaucracy.

• A)In a bureaucracy, the power to act resides in the person rather than in the position.
• B)In a bureaucracy, people are hired to work in different branches irrespective of their area of expertise.
• C)A bureaucracy does not have a reporting structure.
• D)The concept of a bureaucracy is not confined to the federal government.
• E)Large organizations do not have a bureaucracy.

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Definitions:

Fair Value

An estimate of the market value of an asset or liability, based on current prices in an active market or derived from a model if no direct market price is available.

Control Criterion

A principle or standard used to determine whether one entity has the power to direct the financial and operating policies of another to gain economic benefits.

Major Criticisms

Significant or fundamental objections or points of contention regarding theories, practices, or policies.

Reporting Entities

Organizations or business entities that are required to prepare and present financial statements to relevant stakeholders, usually following specific reporting standards.