The Management Concept That Says That Each Individual in an Organization

question 60

Multiple Choice

The management concept that says that each individual in an organization is supervised by one immediate supervisor or boss who in turn reports to a higher supervisor is termed:

• A)ladder of command
• B)hierarchy of command
• C)span of control
• D)chain of command

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Definitions:

Marginal Tax Bracket

The tax rate that applies to the last dollar of the taxpayer's income, indicating how much tax will be paid on any additional income earned.

Municipal Bond

A debt security issued by a state, municipality, or county to finance its capital expenditures, usually exempt from federal taxes and, in some cases, state and local taxes.

Corporate Bond

A type of debt security issued by a corporation to raise funds from investors, who are owed repayment of the loan plus interest.

Futures Contract

A Futures Contract is a legal agreement to buy or sell a particular commodity or financial asset at a predetermined price at a specified time in the future.