Which of the Following Statements Accurately Describes the Role of Management

question 20

Multiple Choice

Which of the following statements accurately describes the role of management history relative to contemporary management thought?

• A)Since the world of work and business continues to change,managers have little to gain from studying the history of management thought.
• B)Many modern management concepts have parallels in some of the historical management writings.
• C)Contemporary managers are trying to reinvent management practices
• D)There are no useful lessons to be learned from historical management principles.
• E)C and D

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Definitions:

Indirect Labor

Wages paid to employees who are not directly involved in producing goods or providing services, such as maintenance and supervisory staff.

Activity Pools

In cost accounting, groups of tasks that have a similar cost driver in activity-based costing, helping allocate overhead costs more accurately.

Activity Rates

Metrics used in activity-based costing to allocate costs to products or services, based on activities that drive costs instead of traditional cost drivers like direct labor hours.

Factory Overhead Budget

A factory overhead budget estimates the total costs of all indirect manufacturing expenses expected during a specific period.