Chester Bernard Felt That _____ Could Help a Poorly Managed

question 52

Multiple Choice

Chester Bernard felt that _____ could help a poorly managed organization.

• A) bureaucracy
• B) line managers
• C) efficiencies
• D) informal relations
• E) top/down flow of information

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Definitions:

Assets

Resources controlled by a business as a result of past events and from which future economic benefits are expected to flow to the entity.

Cumulative Effect

The total impact of a change in accounting principle or correction of an error reported in a single period's financial statements.

Change In Accounting Principle

An adjustment made to the accounting methods used by a company, often requiring retrospective application to prior period financial statements.

Net Income

The remaining earnings of a firm once subtracting every expense and tax from its total income.