The Universality of Management Means That ________

question 77

Multiple Choice

The universality of management means that ________.

• A) all managers in all organizations perform the four management functions
• B) all managers in all organizations perform the same quantity of managerial functions
• C) all managers in all organizations perform managerial functions in similar ways
• D) any manager can work in any organization and perform any management function

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Definitions:

Taxes Payable

The amount of tax liability a company owes to the government but has not yet paid; it appears as a liability on the balance sheet.

Company's Own Stock

Shares that were issued and have been repurchased by the company itself, reducing the amount of outstanding stock on the open market.

Financing Activities

Activities that result in changes in the size and composition of the equity and borrowings of an entity, as shown in its cash flow statement.

Direct Method

A way of preparing the cash flow statement where actual cash flows from operating activities are listed directly.