A Manager Responsible for Executing a Limited Portion of a Function

question 51

Multiple Choice

A manager responsible for executing a limited portion of a function has ________.

• A) general responsibility
• B) specific responsibility
• C) operating responsibility
• D) organizational responsibility
• E) consultative responsibility

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Definitions:

Journal Entry

A record in accounting that notes the details of a financial transaction in terms of debits and credits to the accounts.

Discount on Bonds Payable

The difference between the face value of a bond and its selling price when the bond is sold for less than its face value.

Bonds Payable

Long-term liabilities represented by promissory notes issued by a company to raise capital, to be repaid at a future date.

Installment Note

A debt instrument that requires the borrower to make regular payments (installments) of principal and interest over a set period until the total debt is paid.