According to Henri Fayol, Unity Means That Managers Need to Make

question 7

True/False

According to Henri Fayol, unity means that managers need to make every attempt to collect and use all available information in the planning process.

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Definitions:

Cash Receipts

Money received by a business from its operations, including cash sales and collections on credit accounts.

Bank Reconciliation

The process of comparing and adjusting the balance of an account as reported by a bank to the balance in a company’s financial records.

Maximum Benefit

The highest possible advantage or gain that can be achieved from a particular action or resource.

Bank Reconciliation

The process of matching and comparing figures from accounting records against those presented on a bank statement to ensure consistency and correctness.