After Attending a Seminar on the Importance of Knowledge Management

question 61

Multiple Choice

After attending a seminar on the importance of knowledge management, the managers of TCH Corporation developed a set of objectives their knowledge management system should address.As their next step, the managers should:

• A)Lay out database specifications for the system.
• B)Interview employees to determine their level of knowledge and misunderstanding of organizational processes.
• C)Both lay out database specifications for the system and interview employees to determine their level of knowledge and misunderstanding of organizational processes.
• D)Neither lay out database specifications for the system nor interview employees to determine their level of knowledge and misunderstanding of organizational processes.

Understand the classification of accounts including their normal balances.

Identify the financial statements on which different accounts are reported.

Distinguish between permanent and temporary accounts.

Recognize the expense recognition principle for natural resources.

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Definitions:

Purchasing Committee

A group of professionals within an organization responsible for making buying decisions.

Buying Center

A group of individuals within an organization responsible for making purchasing decisions and evaluating products or services.

Evaluators

Individuals or entities that assess or judge the quality, value, or performance of products, services, or processes.

Buying Center

A group within an organization that collectively makes decisions on the procurement of goods and services.