Organizing Is the Process of Arranging People and Physical Resources

question 30

True/False

Organizing is the process of arranging people and physical resources to carry out plans and accomplish objectives. This is typically done by setting policies and creating effective systems.

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Definitions:

Note Payable

A written agreement to pay a certain sum of money, typically with interest, at a future date.

IFRS

A global framework for financial reporting, International Financial Reporting Standards are accounting standards established by the International Accounting Standards Board (IASB).

Financial Liability

An obligation that requires the entity to transfer economic benefits including money, goods, or services to another entity as a result of past transactions or events.

Convertible Debt

A type of bond or other form of debt that can be converted into a specified number of shares of the issuing company's stock at certain times during its life.