One of the Principles Underlying Maslow's Hierarchy of Needs Theory

question 72

Multiple Choice

One of the principles underlying Maslow's hierarchy of needs theory is that:

• A) performance is not related to motivation and personal skills.
• B) once a need has been satisfied it no longer serves as a primary motivator of behavior.
• C) lower level needs are never completely satisfied.
• D) the need for belonging is the highest level of need, and organizations try hard to satisfy this need of employees.

Understand the development and enforcement of accounting standards.

Distinguish between primary responsibilities of regulatory bodies in the U.S. financial reporting environment.

Comprehend the significance of notes to financial statements.

Understand the distinction between financial and managerial accounting in terms of their focus and information provided.

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Definitions:

Insider Trading

The illegal buying or selling of a corporation’s stock or other securities by corporate insiders, such as officers and directors, in breach of a fiduciary duty or some other relationship of trust and confidence, while in possession of material, nonpublic information about the security.

Material Inside Information

Refers to non-public, important information about a company that could influence an investor's decision to buy or sell the company's securities.

Corporate Disclosure Requirements

Regulations mandating that corporations publicly disclose certain financial and business information to maintain transparency with shareholders and the public.

Sarbanes-Oxley Act

A law enacted in response to a number of major corporate and accounting scandals to protect shareholders and the general public from accounting errors and fraudulent practices in enterprises.