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Fayol Believed That the Amount of Decision-Making Power Vested in Top

question 110

True/False

Fayol believed that the amount of decision-making power vested in top management should be the same in all situations.


Definitions:

Cash Overage

A situation where the amount of cash on hand exceeds the expected amount, often referring to excess cash reported in a cash register.

Petty Cash Account

A small fund kept on hand for minor or incidental expenses, managed through a system of vouchers for tracking outflows.

Receipts

Documents acknowledging the receipt of payment for goods or services received.

Currency

The system of money in general use in a particular country.

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