The Situation Where Similar Activities Are Grouped Together Under One

question 57

Multiple Choice

The situation where similar activities are grouped together under one manager is known as:

• A) division of work
• B) unity of command
• C) unity of direction
• D) the scalar chain.

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Definitions:

Specific Identification

A method for inventory valuation where each item in inventory is identified and tracked individually.

Inventory Accounting

Inventory accounting is the process of valuing and tracking physical stock and includes methods such as FIFO (First In, First Out) and LIFO (Last In, First Out).

Merchandise Returns

Merchandise returns are transactions in which customers return previously purchased goods to the seller, usually for a refund or store credit.

Collection Efforts

The process of pursuing payments of debts owed by individuals or businesses.