According to Fayol,of the Situation Where Managerial Work and Technical

question 113

Short Answer

According to Fayol,of the situation where managerial work and technical work are amenable to specialisation is known as ____________________ (three words).

Recognize and account for unrealized gains and losses.

Recognize the significance of ownership percentages in determining the method of accounting for investments.

Understand the impact of investment activities on financial statements.

Understand the definition and importance of the power of the test.

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Definitions:

Substitutes

Goods or services that can be used in place of each other, fulfilling the same needs or desires.

Complements

Goods or services that are used together, where the use or consumption of one enhances the use or consumption of the other.

Law Of Supply

The Law of Supply states that, all else being equal, an increase in price results in an increase in the quantity supplied.

Quantity Supplied

The supply of a good or service that businesses intend to sell, given a certain price point.