Financial Managers Should

question 192

Multiple Choice

Financial managers should

• A) ignore minor budgeting problems and concentrate on major problems when budgeting.
• B) establish a means of monitoring financial performance on an interim basis.
• C) prepare budgets and hope for the best.
• D) hire a person to go over interim budgets.
• E) fire or demote individual managers when budgeting goals are not achieved.

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Definitions:

Collective Action

Occurs when people act in unison to bring about or resist social, political, and economic change. Some collective actions are routine. Others are nonroutine. Routine collective actions are typically nonviolent and follow established patterns of behavior in existing types of social structures. Nonroutine collective actions take place when usual conventions cease to guide social action and people transcend, bypass, or subvert established institutional patterns and structures.

Political Protest

An expression of objection or disapproval towards political ideas or actions, often in a public context.

Model Parliament

A historical term or concept relating to representative assemblies or efforts to simulate parliamentary democracy as an educational tool.

Economic Development

The process by which a nation improves the economic, political, and social well-being of its people.