A Rigid, Vertical Structure in an Uncertain Environment Prevents the Organization

question 75

True/False

A rigid, vertical structure in an uncertain environment prevents the organization form adapting to change.

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Definitions:

Voucher

Any document that serves as proof of authority to pay cash or issue an electronic funds transfer, but for many businesses is a special form used to record data about a liability and the details of its payment.

Cash Payment

A financial transaction involving the outflow of cash from one party to another as a form of payment.

Internal Control

Methods and protocols established by an organization to guarantee the reliability of financial and accounting data, foster responsibility, and avert deceit.

Record-Keeping Function

The process of maintaining a record of business transactions and financial activities for future reference.