Policies and Procedures Are Two Functional Elements of an Organization

question 5

Multiple Choice

Policies and procedures are two functional elements of an organization that are extensions of the mission statements. The similarities between policies and procedures are both (select all that apply) :

• A) need regular, periodic reviews.
• B) are a means for accomplishing goals and objectives.
• C) are general guidelines for decision making about actions.
• D) are necessary for the smooth functioning of any work group or organization.
• E) must be very detailed as to how to perform a specific procedure on a specific unit.

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Definitions:

Wages And Salaries

Compensation paid to employees for their work or services.

Planning Budget

A financial plan that estimates the revenue and expenses for a specific period in the future.

Births

The occurrence of being born; the start of life as a physically separate being.

Revenue Variance

A financial metric that measures the difference between actual and budgeted revenue.