According to Henri Fayol, the Principle of ________ Gives Managers

question 51

Multiple Choice

According to Henri Fayol, the principle of ________ gives managers the right to give orders.

• A)discipline
• B)centralization
• C)order
• D)authority

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Definitions:

Bargain Purchase Option

A lease agreement provision allowing the lessee to purchase the leased asset at a price significantly lower than its expected fair market value at the end of the lease term.

Long-term Liability

A long-term liability is a financial obligation of a company that is due beyond one year, such as bonds payable, long-term leases, and pension obligations.

Capital Lease Obligations

Long-term lease agreements that are recorded as assets on a company's balance sheet, effectively treating the lease as a purchase of the asset.

Current Portion

The portion of long-term liabilities that is due to be paid within the next twelve months.