Henri Fayol Identified Five Rules of Management-Foresight,organization,command,coordination,and Control-That Closely Resemble

question 152

True/False

Henri Fayol identified five rules of management-foresight,organization,command,coordination,and control-that closely resemble the four management functions studied today.

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Definitions:

Salespersons' Commissions

Payments made to sales staff that are typically based on a percentage of the sales they generate.

Product Cost

The total amount spent to produce a product, including raw materials, labor, and overhead costs directly tied to the production process.

Period Cost

Period cost refers to any cost that is not directly tied to the production of goods and is expensed in the period it is incurred.

Frosting

A sweet, creamy icing used for coating or decorating cakes and pastries.