The Principle of ________ Helps Preserve the Concept of an Unbroken

question 58

Multiple Choice

The principle of ________ helps preserve the concept of an unbroken line of authority.

• A) span of control
• B) chain of command
• C) cross-functionality
• D) centralization
• E) unity of command

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Definitions:

Inventory Valuation

The method used to assign value to a company's inventory, including raw materials, work-in-progress, and finished goods, affecting cost of goods sold and net income.

Year-End Inventory

The total value of all inventory that a company has in stock at the end of its fiscal year.

Consignment

A business arrangement where goods are left with a third party to sell, but the ownership remains with the supplier until the goods are sold.

FOB Shipping Point

A term indicating that the buyer of goods takes ownership and is responsible for the freight charges at the time the goods leave the seller's shipping point.