The Three Main Types of Authority That Can Exist Within

question 9

Multiple Choice

The three main types of authority that can exist within an organization are ________.

• A) line, staff, and formal
• B) staff, informal, and formal
• C) line, staff, and functional
• D) line, functional, and formal
• E) formal, informal, and functional

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Definitions:

Total Assets

The sum of all assets owned by a company, including both current and non-current assets, indicating the total resources at its disposal.

Shareholders' Equity

The residual interest in the assets of a corporation after deducting liabilities, representing the ownership interest of the shareholders.

Fundamental Equation

The Fundamental Equation commonly refers to a foundational mathematical expression in a given field, such as finance's accounting equation: Assets = Liabilities + Equity.

Depreciation

The process of allocating the cost of a tangible asset over its useful life, representing the asset's decline in value.