The degree to which the freedom is given to lower level managers for decision making is classified as ___________?
Correct answer: C. autonomy
- A. decentralization
- B. centralization
- C. autonomy
- D. congruency
Explanation
Autonomy refers to the degree of freedom lower-level managers have in making decisions. Decentralization is the broader organisational policy of distributing authority, whereas autonomy describes the freedom available to a manager.
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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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