An arrangement of line of authority within the company is classified as __________?
Correct answer: C. organization structure
- A. company structure
- B. line of authority
- C. organization structure
- D. line of responsibility
Explanation
An organization structure sets out authority, reporting relationships, and lines of responsibility within a company. A line of authority is only one element of the complete structure.
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About Accounting Principles
Accounting principles explain the rules used to record, classify and report business transactions. Coverage includes the accounting equation, double-entry system, accrual and cash bases, matching and prudence concepts, consistency, going concern, business entity, and the difference between capital and revenue items.
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351 free Accounting Principles MCQs from Accounting, each with the correct answer and an explanation. Unlimited attempts, no account needed.
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