Answer the following statements true (T) or false (F)
1. Top managers report to other executives or boards of directors.
2. The team leader is not usually a permanent management position and thus is not a level in the hierarchy of management.
3. The three types of managers are general managers, functional managers, and project managers.
4. A manager’s job in a not-for-profit organization is typically very different from a manager’s job in a for-profit organization.
1. True
2. True
3. True
4. False
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When the vendor payment is made, the general ledger is updated for the cash disbursement
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
SFAC No. 1 maintains that financial statements should be geared toward specific needs of particular user groups.
Mark Jones, the marketing manager for Big Brand Furniture, is conducting an analysis of internal sales data. These data are collected and stored electronically on site by each store. He is able to access the data on his computer at the corporate headquarters. He is gathering this information via a(n) ________.
A. information broker B. online database C. market research organization D. sales force automation system E. CRM system
Which one of the following events creates a liability for a business?
A) An obligation to pay for goods purchased on credit from a supplier B) Inventories purchased for cash C) Amounts invested by the owners D) Stock sold to the general public