The Gantt Chart

question 11

Multiple Choice

The Gantt chart:

• A) was a precursor to the organizational chart
• B) is a chart that shows when and where tasks need to be completed so that a job can be completed in a timely fashion
• C) was an early method for breaking jobs down into their smallest common denominator
• D) was a major tool of scientific managers and is not widely used today
• E) is a method for continuous training of front-line employees

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Definitions:

Prior Period Adjustment

A prior period adjustment involves corrections of errors in previously issued financial statements, typically associated with the discovery of mistakes in accounting practices.

Equity Method

An accounting technique used to record investments in other companies, recognizing income and losses proportional to the level of ownership.

Outstanding Common Stock

Outstanding common stock refers to the total number of shares of a corporation's stock that are currently owned by all its shareholders, including shares held by institutional investors and restricted shares.

Unrecorded Patents

Patents that an organization owns which have not been recorded in its financial statements.