Which of the Following Is a Difference Between a Line

question 98

Multiple Choice

Which of the following is a difference between a line function and a staff function?

• A) A line function does not contribute directly to creating a company's products, whereas a staff function contributes directly to creating a company's products.
• B) A line function includes accounting, human resources, or legal services, whereas a staff function includes activities that take place within the manufacturing and marketing departments.
• C) A line function can only be exercised by employees at the lower levels of the chain of command, whereas a staff function empowers employees at every level.
• D) A line function contributes directly to selling a company's products, whereas a staff function does not contribute directly to selling a company's products but instead supports line activities.

Recognize the importance of consumer price index in measuring inflation.

Understand government fiscal policies related to budget deficits and surplus.

Know the historical development of the American economy, including the transition from agriculture to industry.

Understand how industrialization and service-oriented economies have shaped modern economic systems.

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Definitions:

Inventory Shrinkage

The loss of products between acquisition and sale, often due to theft, damage, or errors in inventory management.

Perpetual Inventory System

A bookkeeping approach that documents inventory movements as they occur, ensuring the inventory balance is always current.

Net Price Method

The net price method accounts for purchases after subtracting discounts, essentially calculating the actual price paid for goods or services after all reductions.

Purchase Discounts Lost

The extra cost incurred by a company for not taking advantage of the discounts offered by suppliers for early payments.