The Pendleton Civil Service Reform Act of 1883 Established the Principle

question 33

Multiple Choice

The Pendleton Civil Service Reform Act of 1883 established the principle of government employment on the basis of:

• A) patronage and seniority.
• B) merit through open, competitive examinations.
• C) service to a political party.
• D) campaign contributions.
• E) recommendations by members of Congress.

Identify and explain different methods of international business transactions.

Understand the concept and implications of mutual funds and ETFs in investment.

Recognize and calculate the net present value (NPV) of an investment.

Distinguish between International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP).

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Definitions:

McGregor

Douglas McGregor developed the Theory X and Theory Y concept, representing two opposing perceptions of employee motivation and behavior.

Theory X

A management theory that assumes employees are inherently lazy and will avoid work if they can, suggesting the need for strict oversight and control.

Theory Y

A management concept that assumes employees are inherently motivated and enjoy their work duties, suggesting that the role of management is to develop the potential of employees and help them to achieve self-fulfillment.

Management Technique

A method or approach used by managers to improve efficiency, solve problems, and achieve organizational goals.