Harry Is a Senior Manager at Pine and Acorn Consultancy

question 34

Multiple Choice

Harry is a senior manager at Pine and Acorn Consultancy.He decided to expand Pine and Acorn's services in the growing economies after slow decision making cost Pine and Acorn significant future revenues.Which of the following barriers to effective decision making did Harry succumb to?

• A) Complacency
• B) Panic
• C) Gambling
• D) Deciding to decide
• E) Defensive avoidance

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Definitions:

Permanent/Temporary

Permanent/temporary classification refers to the duration for which assets, liabilities, or policies are intended to last, with permanent being indefinite and temporary for a limited period.

Normal Balance

The expected debit or credit balance a particular account should hold under double-entry bookkeeping.

Financial Statement

A written record that conveys the business activities and financial performance of a company, including balance sheets and income statements.

Permanent/Temporary

Classification of accounts where permanent accounts refer to items on the balance sheet and temporary accounts to items that pertain to the income statement.