Refer to the Scenario Below to Answer the Questions That

question 113

Multiple Choice

Refer to the Scenario below to answer the questions that follow.
A New Group (Scenario)
David had been away from his old company,Control Tech,for a while.He remembered that when he worked there ten years ago,the company was very traditional and conservative.The lines of authority and responsibility were established and clear.Now,it felt ironic that he was managing the consulting team that was going to help bring a group orientation into being.In addition to the traditional hierarchy,with a manager and subordinates,he saw a need to introduce teams comprised of individuals from various work areas to help solve operational problems.He also felt that for certain projects,there could be groups that could function essentially independently,even taking on traditional management responsibilities such as hiring,planning,and scheduling.Plus,he saw real potential for special,temporary projects to be handled by groups that would disband once the task was completed.
-The teams comprised of individuals from various work areas are ________.

• A)self-managed teams
• B)advisory teams
• C)virtual teams
• D)cross-functional teams
• E)problem-solving teams

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Definitions:

Present Obligation

A duty or responsibility that exists at the reporting date, typically requiring an outflow of resources.

Contingent Liability

A potential financial obligation that may occur in the future depending on the outcome of a specific event, not confirmed to exist or be measurable until one or more conditions are fulfilled.

Liability

A financial obligation or debt owed by an individual or company.

Accrual

The accounting method that records revenues and expenses when they are incurred, regardless of when cash transactions occur.