Which Type of Power Is Based on a Person's Position

question 23

Multiple Choice

Which type of power is based on a person's position in the formal organizational hierarchy?

• A) legitimate power
• B) coercive power
• C) reward power
• D) expert power
• E) referent power

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Definitions:

Inventory Costing

The method used to assign costs to inventory and cost of goods sold, including techniques such as First-In First-Out (FIFO), Last-In Last-Out (LIFO), and weighted average cost.

Estimated Rate

An approximation used to calculate various financial metrics, often used when the exact value is unknown.

Gross Profit

The earnings a company retains after subtracting the expenses related to the production and sale of its goods or the delivery of its services.

Inventory Cost

Inventory cost refers to the total cost associated with acquiring, storing, and managing a company's inventory, including purchase costs, carrying costs, and any spoilage or shrinkage.