Briefly Discuss the Three Contingencies Affecting Organizational Design

question 12

Essay

Briefly discuss the three contingencies affecting organizational design.

Understand the concept of cost of goods available for sale and how it's computed for a manufacturing company.

Recognize similarities and differences between financial and managerial accounting.

Identify examples of period costs versus product costs in a manufacturing setting.

Prepare and interpret manufacturing cost data and its impact on inventory accounts and income statements.

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Definitions:

Oligarchy

A form of government where power effectively rests with a small number of people, distinguished by royalty, wealth, family ties, education, corporate, or military control.

Aristocracy

A class of people considered to have superior status or privileges, often inherited, based on noble lineage, wealth, or titles.

Direct Democracy

A form of democracy where the people vote on policies directly, rather than through elected representatives.

Representative Democracy

A system of government where citizens elect representatives to make decisions on their behalf.