A Key Component of Frederick Winslow Taylor's Scientific Management Theory

question 70

True/False

A key component of Frederick Winslow Taylor's scientific management theory was the belief that managers should plan what,where,and how employees should produce a product.

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Definitions:

Revenue Account

A Revenue Account tracks the income generated from a company’s primary operations, such as sales of goods or provision of services.

Expenses

Costs incurred in the process of earning revenue, including operational, administrative, and sales costs.

Supplies

Items used in the operation of a business that are consumed or not durable over a long period, such as office materials or cleaning supplies.

Liability

An obligation or debt that a company owes to others, which must be settled through the transfer of assets or services.