Scenario B

question 124

Multiple Choice

Scenario B. You and a group of classmates decide to form a management club at your college or university. During this process the following occurs:
1. Initially, a group of interested classmates meets to decide what you want to do in the club. Many great ideas are put on the table and enthusiasm is high.
2. A few meetings later, things are quite different. Now, individuals who put some of the original ideas on the table are fighting hard for their agenda and tempers are flaring. Some individuals are also causing conflict in their efforts to gain leadership positions in the club; the President's job is particularly hotly contested.
3. After a few weeks of conflict, the members realize that if they don't come together, nothing will get done. The leadership roles have been decided now and group members begin to, as they said, "bond" and work together more.
4. By the end of the first semester, the group is "running like a top!" The projects are on track, members are executing their assigned tasks and the group feels a sense of success.

-The local managers' team which meets by videoconferencing is an example of which type of team?

• A)Work team
• B)Project and development team
• C)Parallel team
• D)Management team
• E)Virtual team

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Definitions:

Capital Markets

Financial markets for buying and selling equity and debt instruments, serving as a platform for long-term funding for public and private entities.

Comparability

The ability of financial information to be used in comparing the financial statements of entities to evaluate financial performance and position.

Legal System

The comprehensive system of rules and principles which govern a specific country or community, guiding the administration of justice and regulatory affairs.

Financial Reporting

The process of producing statements that disclose an organization's financial status to management, investors, and the government.