Which Statement Is Not True

question 71

Multiple Choice

Which statement is not true?

• A) authority refers to an individual's obligation to achieve desired results
• B) if an employee is given the responsibility for a task, that employee should be given authority to make decisions within the limits of that task
• C) the level of detail provided to an employee is a function of the employee's position with the firm
• D) all of the above are true

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Definitions:

Net Sales

The amount of sales generated by a company after deducting returns, allowances for damaged or missing goods, and any discounts allowed.

Perpetual Inventory System

An accounting methodology that records goods transactions immediately through the use of electronic systems, continuously updating inventory records.

Sales Returns

The process of returning purchased goods to the seller, often resulting in a refund to the buyer and an adjustment in sales revenue for the seller.

FOB Shipping Point

A shipping term indicating that the buyer assumes ownership and responsibility for goods at the seller's location, and thus is responsible for the shipping costs and potential damages.