Select the appropriate definition for each of the items listed below.
-Positions that have direct responsibility for the basic objectives of an organization
A)Financial accounting
B)Managerial accounting
C)Planning
D)Controlling
E)Decision making
F)Value chain
G)Continuous improvement
H)Line positions
I)Time
J)Total quality management
K)Lean accounting
L)Staff positions
M)Controller
N)Treasurer
O)Ethical behaviour

Question

Quizplus · Accepted Answer

Line positions are directly responsible for the basic objectives of an organization, while staff positions are supportive roles.

Answer: M and N 
 The Controller and Treasurer are both positions that have direct responsibility for financial management within an organization.

Answer: C 
 Planning involves setting objectives and determining the resources needed to achieve those objectives.

Answer: D 
 Controlling involves monitoring progress towards objectives and making adjustments as needed.

Answer: E 
 Decision making involves choosing among different options and taking action based on those choices.

Answer: F 
 The value chain refers to the sequence of activities that add value to a product or service.

Answer: J 
 Total quality management is a management approach that focuses on continuous improvement and involves all employees in the organization.

Answer: K 
 Lean accounting is an approach to accounting that is aligned with lean manufacturing principles, emphasizing the elimination of waste and the creation of value.

Answer: O
 Ethical behaviour refers to actions that are consistent with moral principles and values.

Select the Appropriate Definition for Each of the Items Listed