As Brett Prepares to Open His New Business, He Has

question 358

Multiple Choice

As Brett prepares to open his new business, he has identified the tasks that need to be accomplished and has assigned employees to each task. This illustrates:

• A) management departmentalization.
• B) division of labor.
• C) specialization of priorities.
• D) mass production economies.

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Definitions:

Financial Statement

A formal record of the financial activities and position of a business, person, or other entity.

Parking Operations

The management and operation of parking facilities, including the planning, financing, and implementation of efficient systems to accommodate vehicles.

Enterprise Fund

A fund established by a government to account for operations financed by user charges, often used for utilities and public services.

Journal Entry

A recording of a transaction in an accounting journal that notes the debits and credits affecting the accounts involved.