Which report is not a financial statement?
A) Income statement
B) Tax return
C) Balance sheet
D) Statement of cash flows
E) Statement of financial position
Question 2 - Mark left his position as a Target store manager after two years. He complained of burnout from having too many roles and tasks for one position-even though he had plenty of staff working for him. Mark probably never learned to use the tool of:
A) segmentation.
B) function.
C) control.
D) delegation.
E) centralization.
Question 3 - Which financial statement would indicate whether a company has made a profit or loss during the reporting period?
A) Balance sheet
B) Statement of financial position
C) Cash flow statement
D) Statement of changes in equity
E) Income statement
Question 4 - The pattern of delegation throughout an organization determines the extent to which the organization is:
A) using a wide span or narrow span.
B) functional or customer based.
C) location or product based.
D) centralized or decentralized.
E) specialized or rotated.
Question 5 - When Nathaniel Products applied for a loan to expand its sailboat business, the bank requested several financial reports so that they could assess the company's ability to repay the loan. Which category of accounting would be responsible for the preparation of these financial reports?
A) Managerial accounting
B) Financial accounting
C) Liaison accounting
D) Forensic accounting
E) Cost accounting
Question 6 - Assigning part of your work, and the authority required to do that work, to someone else is called:
A) delegation.
B) responsibility.
C) authorization.
D) accountability.
E) relegation.
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