What Is Meant by the Hierarchy of an Organization

question 3

Multiple Choice

What is meant by the hierarchy of an organization?

• A) The number of functions within the organization
• B) The number of different layers in the organization
• C) The number of departments within an organization
• D) The number of subsidiaries within an organization

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Definitions:

Adjusted Cash Balance

The cash amount reported in financial statements, adjusted for outstanding checks and deposits in transit, to reflect the actual available cash.

Accountant

A professional responsible for managing and examining financial records, preparing financial statements, and ensuring compliance with legal requirements.

Purchase Requisition

A document generated by a company department to request that the purchasing department procure a specific quantity of goods or services.

Department Manager

An individual who is responsible for overseeing the operations and personnel of a specific department within an organization.