Podcast
Questions and Answers
What does 'span of control' refer to?
What does 'span of control' refer to?
- The number of departments within the organization
- The number of managers in the organization
- The number of employees directly under a manager's supervision (correct)
- The number of years a manager has been in control
How should managers apply 'management by exception'?
How should managers apply 'management by exception'?
- By involving themselves in every minor detail
- By focusing on potential problem areas only (correct)
- By ignoring any changes or key factors
- By delegating all decisions to subordinates
Which type of information is recommended for managers with narrow spans of control?
Which type of information is recommended for managers with narrow spans of control?
- Detailed reports (correct)
- No reports needed
- High-level strategic reports
- Summary reports
In the context of management principles, what does 'management level' refer to?
In the context of management principles, what does 'management level' refer to?
What do reports focusing on changes in key factors aim to identify?
What do reports focusing on changes in key factors aim to identify?
'Management by exception' suggests that managers should primarily focus on which areas?
'Management by exception' suggests that managers should primarily focus on which areas?
Which factor does Responsibility Accounting refer to?
Which factor does Responsibility Accounting refer to?
What does the principle of Responsibility and Authority define?
What does the principle of Responsibility and Authority define?
Which management function defines the vertical reporting channels through which information flows?
Which management function defines the vertical reporting channels through which information flows?
Which principle structures the firm around tasks performed rather than around individuals’ unique skills?
Which principle structures the firm around tasks performed rather than around individuals’ unique skills?
What is the power to make decisions within the limits of responsibility called?
What is the power to make decisions within the limits of responsibility called?
Which factor is related to the obligation to achieve desired results in management?
Which factor is related to the obligation to achieve desired results in management?
How does segregation of duties help maintain control in the organization?
How does segregation of duties help maintain control in the organization?
What is a key control issue related to transaction authorization in the text?
What is a key control issue related to transaction authorization in the text?
Why is limiting database access to authorized individuals crucial according to Sarbanes-Oxley?
Why is limiting database access to authorized individuals crucial according to Sarbanes-Oxley?
What can unauthorized access to the G/L result in?
What can unauthorized access to the G/L result in?
Why is independent verification important in the context of GL/FRS control issues?
Why is independent verification important in the context of GL/FRS control issues?
Which statement is true about access controls based on the text?
Which statement is true about access controls based on the text?
