If You Adopted a Functional Approach to Departmentalization,which of the Following

question 88

Multiple Choice

If you adopted a functional approach to departmentalization,which of the following types of jobs could you group into clusters?

• A)Human resources
• B)Operations
• C)Accounting
• D)All of these

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Definitions:

Artificial Time Periods

Divisions of time into periods for accounting purposes that may not correspond to actual calendar periods.

Economic Entity

A unit in the economy that is capable of engaging in financial activities, such as a person, corporation, or government entity.

GAAP

stands for Generally Accepted Accounting Principles, which are the standard framework of guidelines for financial accounting used in any given jurisdiction.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board that guide how financial transactions and events should be reported.