Theory Y Assumptions Require __________ to Accept Responsibility for Arranging

question 24

Multiple Choice

Theory Y assumptions require __________ to accept responsibility for arranging organizational conditions and methods of operation so that people can achieve their own goals best by directing their own efforts toward organizational objectives.

• A) Management
• B) Manager
• C) Staff
• D) Worker

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Definitions:

FIFO and LIFO

Inventory valuation methods; FIFO (First In, First Out) assumes that the earliest goods purchased are the first to be sold, while LIFO (Last In, First Out) assumes the reverse.

LIFO Inventory

A method of inventory valuation where the last items added to inventory are the first ones assumed to be sold, typically used to decrease tax liabilities under inflationary conditions.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated by adding new purchases to beginning inventory and then subtracting goods sold.

Periodic Inventory System

An inventory system in which the inventory records are updated only after a physical count has been taken at periodic intervals, usually at the end of an accounting period.