Contrast the Similarities and Differences Between a Matrix Organization and a Functional

question 41

Essay

Contrast the similarities and differences between a matrix organization and a functional structure with horizontal linkages. Explain about a situation or an organization in which you would actually prefer to utilize the functional structure with horizontal linkages over the matrix.

Describe the process and accounting treatment for change funds and their differences from petty cash.

Understand how to establish and adjust a petty cash fund.

Learn how to reconcile the petty cash fund by accounting for cash shortages and overages.

Ability to prepare journal entries for petty cash transactions including fund establishment, replenishment, and adjustment.

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Definitions:

Rival

In economics, a rival good is one whose consumption by one person reduces its availability for another person.

Non-Excludable

A characteristic of a good or service that prevents individuals from being effectively excluded from using it.

Pair of Jeans

A Pair of Jeans is an item of clothing made from denim or another fabric, characterized by its durability and typically fastened with buttons or zippers.

Free Goods

Free goods are resources or services that are available in abundance and do not have an opportunity cost, meaning they can be consumed in unlimited quantities without depleting any resource.