Select the Appropriate Definition for Each of the Items Listed

question 33

Multiple Choice

Select the appropriate definition for each of the items listed below.
-A management activity that involves the detailed formulation of action to achieve a particular end

• A)Financial accounting
• B)Managerial accounting
• C)Planning
• D)Controlling
• E)Decision making
• F)Value chain
• G)Continuous improvement
• H)Line positions
• I)Time
• J)Total quality management
• K)Lean accounting
• L)Staff positions
• M)Controller
• N)Treasurer
• O)Ethical behaviour

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Definitions:

Corporation

A legal entity recognized by law as separate from its owners, with its rights and liabilities, capable of conducting business, entering contracts, and owning assets.

Indorsers

Individuals or entities that sign a document (often a negotiable instrument like a cheque) on the back to signify their agreement to transfer title or to guarantee its terms.

Contractually Liable

A state of being legally obligated by the terms of a contract to perform certain duties or compensate for failure to do so.

Negotiable Instruments

Negotiable instruments are formal financial documents (such as checks, promissory notes, and bills of exchange) that promise to pay a specified amount of money to a person in possession of the instrument under certain conditions.