Which of the Following Was One of the Secrets of John

question 42

Multiple Choice

Which of the following was one of the secrets of John D. Rockefeller's success?

• A) He paid attention to the minutest details and understood the benefits of vertical integration.
• B) He pioneered a division of labor in which he concentrated on financial matters and delegated the technical operations of the industry to his managers.
• C) He concentrated on the "big picture" and did not get bogged down in details.
• D) He did not waste a lot of money on advertising.
• E) He was willing to develop equal cooperative relationships with his competitors.

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Definitions:

Asset

Resources controlled by a business from which future economic benefits are expected to flow to the business, including both physical items and intangible properties.

Credit

An entry on the right side of a double-entry bookkeeping system that increases liabilities and equity or decreases an asset or expense.

Cash Received

The amount of money received by a company during a period from various sources including operations, investments, and financing.

Customer

An individual or entity that purchases goods or services from a business, essential for the revenue-generating activities of the company.