Deciding the purpose and mission of the organization, making the work productive, and ____ are the three major tasks of management identified by Peter Drucker
a. Involvement in corporate events
b. Managing social impacts and responsibilities
c. Following management hierarchy
d. Satisfying customers
B
According to Peter Drucker, the three major tasks of management are:
1 . To decide on the mission of the organization,
2 . To make work productive, and
3 . To manage social impacts and responsibilities are the three major tasks of management.
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Many firms feel a strong obligation to establish and use a standard rate for fixed factory overhead because:
a. The resulting data are useful for performance-evaluation purposes. b. Generally accepted accounting principles in the U.S. require full costing of inventories for financial reporting purposes. c. Larger income tax deductions result when fixed overhead costs are treated as product costs rather than period costs. d. None of the above—fixed overhead costs are typically expensed as period costs. e. This approach improves upon management's ability to more accurately forecast future overhead costs.
Taking a cash advance on your credit card for daily living expenses may not be a wise financial decision because interest begins on the cash advance balance amount immediately
Indicate whether this statement is true or false.