Scientific Management Focuses on Employee Competence, Whereas Administrative Principles Focus

question 61

True/False

Scientific management focuses on employee competence, whereas administrative principles focus on the total organization.

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Definitions:

Operating Budgets

Detailed projections of income and expenses related to a company's operational activities for a specific period, typically one year.

Budgeted Balance Sheet

A budgeted balance sheet forecasts a company's financial position at a future date, including assets, liabilities, and shareholders' equity, based on projected financial activities.

Budgeted Income Statement

A projected financial statement that estimates a company's expected revenues, expenses, and net income for a future period based on a budget.

Production Facility Capacity

The maximum amount of goods a manufacturing facility can produce over a specific period under normal working conditions.