Select the Main Differences in the Contributions of Henri Fayol

question 3

Multiple Choice

Select the main differences in the contributions of Henri Fayol when compared to Frederick Taylor.

• A) Fayol focused primarily on management's responsibilities, whereas Taylor focused on the workers.
• B) Fayol emphasized flexibility in applying principles of management, rather than strict application of principles.
• C) Fayol suggested that management should establish strict methods for selecting workers and training them for specific jobs.
• D) Fayol suggested that management should attempt to establish positive morale in the organization.
• E) A, b, and d are correct.

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Definitions:

Adjusting Entry

Documentation produced at a period's end within accounting to properly allocate profits and outlays to the actual period they happened.

Closing Entry

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thereby preparing the books for the next accounting period.

Post-Closing Trial Balance

A list of all account balances after the closing entries have been made, ensuring the accuracy of the ledger.

Fees Earned

Revenue recognized by a company for services provided during a specific period, even if not yet received in cash.