-Reference Organization Chart 3

question 72

Multiple Choice

-Reference Organization Chart 3.1. Which of the following is correct?

• A) To lower fixed costs, this organization should change to a divisional structure with customer account executives heading each major division.
• B) To improve the communications flow, it is recommended that this company should add a full-time integrator between each account executive and operations head.
• C) It has lost the advantages of economies of scale within the operations departments.
• D) The customer account executives can be considered to be integrators.

Identify the sequence and significance of steps in the accounting cycle.

Understand the role of adjusted trial balances in preparing financial statements.

Differentiate between permanent and temporary accounts and their treatment at the end of the accounting period.

Distinguish between the roles of different types of trial balances in the accounting process.

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Definitions:

Reasonable Notice

The adequate period of time that must be given prior to taking certain legal actions, such as terminating employment or altering contractual terms.

Profit Sharing

A compensation structure where employees receive a share of the company's profits, often as a form of incentive or reward.

Vicariously Liable

A legal principle where one party is held responsible for the actions or negligence of another party, usually in employer-employee relationships.

Motor Vehicle Accident

A motor vehicle accident is an incident involving a collision between one or more vehicles, potentially causing injury, death, or property damage, often subject to legal investigation for liability and damages.